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How to buy Xido Finance (XIDO) in Canada

Learn how to buy Xido Finance (XIDO) in our step-by-step guide.

Where to buy Xido Finance in Canada

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

You can still purchase XIDO 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 XIDO using a decentralised exchange.
  1. Find XIDO on a decentralised exchange and make sure Xido Finance 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 XIDO using an exchange like Ndax. You will need to purchase enough ETH to swap for XIDO 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 XIDO 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 XIDO 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 Xido Finance wallets to store your XIDO

You can keep your XIDO 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 XIDO 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 Xido Finance a good investment?

As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to XIDO, here are a few things to consider:

  • Deflationary incentives:As part of the incentivisation to hold XIDO, there is no way to mint new XIDO tokens built within the token’s code. In addition to the inability to mint more tokens, 40% of the token’s entire supply has been sent to the application’s main farm contract, which has been locked beyond the reach of even its developers.
  • Emergency withdrawals: The protocol supports emergency withdrawals from all farms and pools, enabling users to quickly remove their funds if need be.
  • Security: The protocol’s smart contracts have been audited by Haechi Labs, which found zero “critical,” “major,” and “minor” issues. While an audit does not guarantee a smart contract or security failure, it may provide some comfort to potential future investors.
  • Incorporation of NFT technology: According to the platform’s Twitter page, the XIDO Finance ecosystem is set to incorporate NFTs and utilise them within the protocol’s native P2E game. The NFTs appear to be cards that will allow users to play the native game, Gold Mine. According to reports, once the game is released, users will also be able to play and acquire xGOLD, which can be traded for XIDO.
  • Dual chain: The protocol runs on both the Ethereum and Binance Smart Chain blockchains, giving users the option to choose the former for its larger userbase or the latter for its low transaction fees and scalability features. Having the ability to choose could help future adoption.
  • Vague whitepaper: The project’s whitepaper is vague in comparison to the whitepaper’s from other DeFi protocols. There is also very little technical information available via the XIDO Finance website. Vague explanations for certain elements of the project is often a red flag for some investors and may deter cryptocurrency investors from using the protocol. This may then negatively affect the demand for XIDO.

Additional information about Xido Finance can be found using our XIDO analysis tools.

Today's Xido Finance price versus ATH

Compare today's price of Xido Finance ($2.31 USD) against its all-time-high price of $481.05 USD on 09 June 2021. The closer the bar is to 100%, the closer XIDO is to reaching its ATH again.

Xido Finance's price: $2.31
ATH date: June 09, 2021
0.48%

Xido Finance ATH: $481.05


How to trade, convert or sell Xido Finance

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

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

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