How to buy Hedera (HBAR) in Canada

Hedera (HBAR) is the 40th largest cryptocurrency by market cap, valued at US$2,856,267,391.

Hedera is a highly volatile asset capable of major price swings in a single day. Today HBAR is trading for $0.079981 USD, which is lower than yesterday's trading price of $0.0813759465 USD. Over the past year, Hedera's price has seen an increase of 18%.

So before you buy Hedera, make sure you understand these unique risks as well as its legal and tax status here in Canada.

If you're ready to get started, read on for step-by-step instructions on how you can buy Hedera.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Hedera in Canada

Find an exchange to buy, sell and trade HBAR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

Best Hedera wallets to store your HBAR

You can keep your HBAR on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your HBAR below.

Is Hedera a good investment?

Prior to investing in any asset, it is important to conduct thorough due diligence so you understand the factors that may influence the price. In the case of HBAR, here are some things you should know:

• Hashgraph: As blockchain technology evolves, the community has seen the development of a wide number of alternatives to Satoshi Nakamoto's original vision. However, Hedera is one of the first cryptocurrencies to not use a blockchain at all. It is worthwhile assessing how Hedera's network works in comparison to other, smart-contract capable protocols such as Ethereum and Polygon. Hedera claims that its network can process more than 10,000 transactions per second with transaction fees of less than $0.0001 USD, which holds it in good stead relative to many blockchains.
• Token use-case: The HBAR token has two primary uses. Firstly, it is a utility token that is vital for the operation of the Hedera ecosystem, including smart contract deployment, executing transactions and storing data. Secondly, HBAR holders can stake their tokens to secure and maintain the economic functioning of the network.
• Governance: Hedera's governance structure is slightly different to many other decentralised protocols. The network does not use a decentralised autonomous organisation (DAO) and token holders do not typically vote on proposals. Instead, the direction of Hedera is dictated by a council comprising 20+ members from around the world. These council members are intended to represent a diverse range of business sectors to ensure decentralised decision-making that serves no one particular agenda. Those that prefer solely community-driven projects may want to consider alternatives to Hedera.

Today's Hedera price versus ATH

Compare today's price of Hedera ($0.079981 USD) against its all-time-high price of $0.569229 USD on 15 September 2021. The closer the bar is to 100%, the closer HBAR is to reaching its ATH again.

How to trade, convert or sell Hedera

You can convert or sell your HBAR with the same exchange you bought it through:

1. Sign in to the exchange you have HBAR on.
2. If you store your Hedera in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of HBAR you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Hedera.
6. Complete your transaction and move your HBAR to a wallet for storage.