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Canadian Dollar (CAD) to MultiversX (EGLD) Instantly

Purchase MultiversX (EGLD) with Canadian Dollar (CAD) easily at Switchere and benefit from fast, secure transactions.

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About
MultiversX (EGLD)

MultiversX (EGLD), formerly known as Elrond, is a high-performance Layer 1 blockchain platform engineered to provide internet-scale throughput, security, and developer-friendly tools for Web3 applications. Its core mission is to solve the scalability trilemma, providing the foundational infrastructure for DeFi, NFTs, and the Metaverse without compromising decentralization. The network's impressive performance is driven by two key innovations: Adaptive State Sharding and a Secure Proof of Stake (SPoS) consensus mechanism. Adaptive State Sharding is a comprehensive scaling solution that parallelizes transaction and network processing across dynamic shards, enabling the blockchain to scale linearly with demand. This ensures low transaction costs and high throughput for a seamless user experience.

The SPoS consensus algorithm complements this scaling technology by providing enhanced security and efficiency, introducing a random selection of validators within shards to reduce latency and energy consumption. The native digital asset, EGLD, is the cornerstone of this ecosystem. It functions as a utility token for paying transaction fees, deploying smart contracts, and staking. Holders can stake their EGLD to participate in network validation, contributing to its cryptographic security while earning rewards. EGLD also serves as a governance token, allowing participants to vote on protocol upgrades, making it essential for all on-chain operations and interactions within its expanding suite of DeFi applications.

MultiversX (EGLD)

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How to Buy MultiversX (EGLD)

  1. Select currency menu

    Choose CAD to EGLD Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your MultiversX Wallet Address

    Provide your EGLD wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your MultiversX

    Complete the payment, and your EGLD will be sent to your wallet.

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Frequently Asked Questions

  • What are the common methods for buying MultiversX (EGLD) with Canadian Dollars (CAD)?

    To purchase EGLD with CAD, the most common fiat on-ramp is through a regulated cryptocurrency exchange that complies with FINTRAC. These platforms typically support direct CAD deposits via Interac e-Transfer or wire transfer. After completing the required KYC/AML verification, you can fund your account with CAD and place an order on the CAD/EGLD trading pair, allowing for a direct digital asset purchase.

  • How do I securely store EGLD tokens after a CAD purchase?

    For secure storage, it is highly recommended to move your EGLD from the exchange to a non-custodial digital wallet where you control the private keys. The official wallet, xPortal (formerly Maiar), is a popular choice for mobile users. For maximum security, especially for significant holdings, consider using a hardware wallet compatible with the MultiversX network. This practice of self-custody protects your digital assets from exchange-related risks.

  • Are there specific fees to consider when trading the CAD/EGLD pair?

    Yes, there are several potential fees. First, depositing CAD via Interac e-Transfer or bank wire may incur a fee from your bank or the exchange. Second, the cryptocurrency exchange will charge a trading fee (either a 'maker' or 'taker' fee) on the transaction itself. Finally, when you withdraw your EGLD to a personal digital wallet, you will pay a network transaction fee, which is typically very low on the MultiversX blockchain, plus any withdrawal fee the exchange might charge.

  • What are the core technological advantages of MultiversX I should know before buying EGLD?

    MultiversX stands out due to its unique architecture featuring 'Adaptive State Sharding' for high scalability and low transaction costs. Its consensus mechanism, Secure Proof of Stake (SPoS), ensures network security and efficiency. Furthermore, the MultiversX Virtual Machine supports multiple programming languages, including Rust, C, and C++, by compiling them to WASM, which significantly lowers the barrier for developers to build decentralized applications and issue ESDT tokens on the network.

  • What is the utility of the EGLD token within the MultiversX ecosystem?

    EGLD is the native utility token of the MultiversX network and serves multiple critical functions. It is used for paying blockchain transaction fees, deploying smart contracts, and creating new ESDT tokens. Additionally, EGLD is integral to the Secure Proof of Stake (SPoS) consensus mechanism, where users can participate in staking EGLD to help secure the network and earn rewards. It also functions as a governance token, allowing holders to vote on network upgrades.

  • Why is a direct CAD/EGLD pair beneficial for Canadian crypto users?

    A direct CAD/EGLD trading pair offers several advantages. It simplifies the investment process by eliminating the need for multiple conversions, such as CAD to USD or a stablecoin first. This reduces exposure to foreign exchange rate volatility and can lower overall transaction fees. It provides a more streamlined fiat on-ramp for Canadians to directly access the MultiversX ecosystem for activities like staking EGLD or interacting with its metaverse applications.

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