Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

How to buy mStable USD (MUSD) in Canada

Learn how to buy mStable USD (MUSD) in our step-by-step guide.

mStable USD (MUSD) is the 1299th largest cryptocurrency by market cap, valued at US$4,277,409.

mStable USD is a highly volatile asset capable of major price swings in a single day. Today MUSD is trading for $1.001 USD, which is higher than yesterday's trading price of $1.00 USD. Over the past year, mStable USD's price has seen an increase of 0%.

So before you buy mStable USD, 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 mStable USD.

How to buy mStable USD in 4 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.

  1. Compare crypto exchanges
    The easiest way to buy mStable USD 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.
  2. 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.
  3. Make a deposit
    Once verified, you can deposit CAD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy mStable USD
    You can now exchange your funds for mStable USD. 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 mStable USD to your personal wallet.
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 mStable USD in Canada

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

1 - 2 of 2
Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer
CEX.IO Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, SEPA, Faster Payments (FPS), SWIFT
USD, EUR, GBP, CAD

145
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Finder Award
Coinbase Digital Currency Exchange
Debit card, PayPal
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN

256
cryptocurrencies

Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
loading

How we keep this mStable USD guide up-to-date

  • MUSD price data is regularly updated through data feeds so you always have the latest information.
  • mStable USD performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.

How do I find the best places to buy mStable USD?

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 mStable USD?

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 mStable USD.

  • 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 MUSD 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.

What are the best ways to buy mStable USD?

Once you've created an account, you will need to deposit funds to buy MUSD with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy MUSD:

  • 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 MUSD by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MUSD on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy mStable USD?

The easiest way to buy MUSD 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 MUSD, 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 all-time high tool to get an idea of how the price of mStable USD has been performing recently.

Best mStable USD wallets to store your MUSD

You can keep your MUSD 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 MUSD below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

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

Is mStable USD a good investment?

mUSD is the native token associated with the mStable platform. It allows users to facilitate a wide variety of internal transactions ranging from peer-to-peer (P2P) payments to asset minting within the network. Here are a few key aspects of the project worth considering before investing:

  • Unique tokeomics: mUSD is mintable, fully redeemable in lieu of the various basket of assets underlying it. Not only that, the platform also offers clients with extremely low interest rates and high yields by making use of an operational model that combines adjustable lending income and trading fee rates.
  • Novel dApps:As per the official company websitewebsite the mStable platform comes replete with a holistic dApp ecosystem allowing users to seamlessly swap their USD-based stablecoins (with zero-slippage) as well as save (earn interest) on their tokens using a high APY structure.
  • Established backing team: The mStable protocol is the brainchild of James Simpson and Henrik Andersson, two well renowned tech entrepreneurs, who prior to joining the crypto market, worked for Apollo Capital, one of the largest asset managers in the world. Furthermore, in the past, Simpson and Andersson have also been associated with other stablecoins and lending projects designed to mitigate the pain points existing within today’s stablecoin market.
  • Novel operational setup:mUSD tokens represent US Dollars within the context of a blockchain setup, being mintable and fully redeemable (in a permissionless manner) via the platform’s native smart contract network. Additionally, the tokens offer extremely lucrative “risk adjusted” saving APYs that are derived from a host of sources. Lastly, governance-wise, mStable’s day to day operations are looked after by a diverse community of stakeholders, who are afforded the power to provide ideas as well as vote on proposals geared towards enhancing the protocol.

Today's mStable USD price versus ATH

Compare today's price of mStable USD ($1.001 USD) against its all-time-high price of $2.71 USD on 25 July 2022. The closer the bar is to 100%, the closer MUSD is to reaching its ATH again.

mStable USD's price: $1.001
ATH date: July 25, 2022
36.94%

mStable USD ATH: $2.71


How to trade, convert or sell mStable USD

You can convert or sell your MUSD with the same exchange you bought it through:
  1. Sign in to the exchange you have MUSD on.
  2. If you store your mStable USD 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 MUSD you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of mStable USD.
  6. Complete your transaction and move your MUSD to a wallet for storage.

Disclaimer: Cryptocurrencies, including mStable USD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MUSD 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 mStable USD or any other cryptocurrency discussed.

More guides on Finder

Go to site