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How to buy HUSD (HUSD) in Canada
Learn how to buy HUSD (HUSD) on 2+ crypto exchanges in our step-by-step guide.
You can buy HUSD (HUSD) on a cryptocurrency exchange like Crypto.com. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Launched in 2018 by the Huobi global exchange, HUSD was originally designed as an aggregate stablecoin that offered access to Paxos Standard (PAX), USD Coin (USDC), True USD (TUSD) and Gemini USD (GUSD) on the Huobi exchange. Here's how to buy HUSD.
How to buy HUSD in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy HUSD is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – credit card, cryptocurrency, PayPal and transferwise payments are widely accepted.
You can now exchange your funds for HUSD. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your HUSD to your personal wallet.
Where to buy HUSD in Canada
Find an exchange to buy, sell and trade HUSD by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy HUSD?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy HUSD?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading HUSD.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing HUSD with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy HUSD with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy HUSD with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy HUSD on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase HUSD by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for HUSD on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy HUSD?
The easiest way to buy HUSD is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying HUSD, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of HUSD has been performing recently.
Best HUSD wallets to store your HUSD
You can keep your HUSD 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 learn more about wallets and compare them with our comprehensive guide.
Recent HUSD developments
Is HUSD a good investment?While stablecoins are usually considered safer cryptocurrency assets due to the peg with fiat currencies, they are not risk-free. Here are some factors every investor should consider before purchasing HUSD:
- Regulation. The Paxos trust company is regulated by one of the most critical regulatory bodies, the NYDFS. Approval by the NYDFS adds credibility to the token and the associated platform.
- Supply control: Stable Universal, a startup backed by Huobi Capital, is the only entity that can decide the supply of HUSD tokens in circulation. The supply for HUSD expands and reduces based upon demand. There is no cap on the total number of tokens.
- Centralisation: Since Stable Universal is in complete control of the token supply, it adds a certain degree of centralisation to the token’s operations. Centralised projects are often frowned upon by purists in the cryptocurrency community.
- Audits: Stable Universal publishes monthly audit reports. This ensures that the supply declared by Stable is accurate and can be backed by USD held as collateral.
- Competition: HUSD is not the only USD stablecoin available in the crypto market. There are other stablecoins like Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). All of these are still pegged to USD and are used by significantly more people. Wider use means higher liquidity in the market. This may leave HUSD struggling against the competition.
Additional information about HUSD can be found using our HUSD analysis tools.
Today's HUSD price versus ATH
Compare today's price of HUSD ($0.995612 USD) against its all-time-high price of $1.25 USD on 13 March 2020. The closer the bar is to 100%, the closer HUSD is to reaching its ATH again.
ATH date: March 13, 2020
HUSD ATH: $1.25
How to trade, convert or sell HUSDYou can convert or sell your HUSD with the same exchange you bought it through:
- Sign in to the exchange you have HUSD on.
- If you store your HUSD in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of HUSD you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of HUSD.
- Complete your transaction and move your HUSD to a wallet for storage.
Disclaimer: Cryptocurrencies, including HUSD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of HUSD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the HUSD or any other cryptocurrency discussed.
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