What is Optimism (OP)?
OP is the governance token of Optimism, which is a layer-2 optimistic rollup scaling solution for the Ethereum network. As a scaling solution, Optimism intends to leverage Ethereum’s security while improving its transaction throughput, latency, and costs. Developers can build dApps on Optimism as they would on Ethereum, and those dApps should operate at reduced costs due to Optimism’s rollup technology. The OP token was first issued in May 2022 as means of introducing the Optimism Collective to the community to accommodate DAO governance through on-chain voting.You can buy and sell OP for any major cryptocurrency – like ETH and XRP – or traditional currency such as Canadian Dollar, US Dollar. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade OP for ETH the same way you trade CAD for USD. You can also trade OP to CAD based on the OP price. To learn how to buy Optimism / OP, scroll down to see how to buy Optimism.
How to buy Optimism (OP)?
Here's how to buy Optimism on Coinsquare
To buy Optimism, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying OP. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select OP from the list on the trade section
Coinsquare lets you trade OP without leaving the app. You can also check the Optimism price and convert OP to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the OP price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Optimism (OP)
Congratulations! You’re now the proud owner of OP. You can either HODL or use it to exchange OP to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Optimism (OP)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Optimism (OP) to your portfolio?
Create your account, fund it with spare change and get a little bit of OP.
