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How to buy sUSD (SUSD) in Canada

Learn how to buy sUSD (SUSD) in our step-by-step guide.

Where to buy sUSD in Canada

It looks like SUSD may not be available to purchase on an exchange in Canada.

You can still purchase SUSD by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.

How to purchase SUSD using a decentralised exchange.
  1. Find SUSD on a decentralised exchange and make sure sUSD can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for SUSD using an exchange like Ndax. You will need to purchase enough ETH to swap for SUSD as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for SUSD on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the SUSD tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in Canada.

Best sUSD wallets to store your SUSD

You can keep your SUSD 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 SUSD below.

Ledger Nano X Wallet

Trezor Model T Wallet

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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 sUSD a good investment?

When deciding on whether to invest in sUSD, there are a few factors to consider that may impact the price:
  • Accessibility. Newcomers to cryptocurrency may be dissuaded from investment by the relative difficulty of buying sUSD. You cannot purchase this token using fiat currency and it is not available on most major exchanges. To purchase sUSD, you must first purchase another crypto coin (ETH or SNX). Not only can this be intimidating, it also means extra transactions and, therefore, extra transaction fees.
  • Use case. Typically, investors wouldn’t purchase stablecoins like sUSD with a view to its price rising. If the token is performing correctly, its value shouldn’t deviate more than 1 cent from $1 USD. Stablecoins have a number of other appealing features, including as a bridge between traditional finance and crypto, a stable value during periods of high volatility, and staking/liquidity rewards.
  • Competition. Stablecoins are continuing to be developed regularly, as the demand for DeFi platforms and associated tokens grows. Though stablecoins often have different purposes, there are still a number of synthetic coins that track the price of USD. Comparing the benefits of sUSD to competitors (like Tether and USDC) will help give you a more rounded perspective on the coin. .

Today's sUSD price versus ATH

Compare today's price of sUSD ($0.999745 USD) against its all-time-high price of $2.45 USD on 18 February 2020. The closer the bar is to 100%, the closer SUSD is to reaching its ATH again.

sUSD's price: $0.999745
ATH date: February 18, 2020
40.81%

sUSD ATH: $2.45


How to trade, convert or sell sUSD

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

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

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