Buying, storing, and trading Sei (SEI) cryptocurrency in Canada is quick and easy with Coinsquare, one of the leading cryptocurrency platforms in Canada.
The Sei Network is the first parallelized EVM, high-performance layer-1 blockchain designed to address the common challenges in digital assets trading, especially in the decentralized exchange ecosystem, which includes NFT, DeFi, and GameFi. Sei is also known as the “Decentralized NASDAQ” because it combines traditional finance trading experiences with decentralized finance tools.
Sei combines the security of Ethereum with Sei’s fast performance, making Sei a great option for experienced traders and developers looking to create DeFi apps because of its speed, scalability, and security features. The network is built to support a wide range of decentralized applications (dApps) and services, making it a versatile choice for developers and users looking for an efficient and scalable blockchain SEIution.
The origins of Sei crypto trace back to 2021, when the project was founded with the vision of creating a more efficient and scalable blockchain network. The team behind Sei (SEI) saw the need for a blockchain SEIution that could overcome the limitations of existing platforms, such as slow transaction times and high fees. With this goal in mind, they set out to develop a blockchain network that offers high performance and low costs, catering to the growing demands of the DeFi and dApp ecosystems.
The Sei network was officially launched in August 2023, following its founding by Jeffrey Feng and Jayendra Jog in 2021. Built on the Cosmos SDK framework, Sei has received significant venture capital funding, resulting in a USD 120 million Ecosystem Fund. This fund is dedicated to providing grants to developers to encourage them to create projects on the Sei network.
The new version of the network, known as SEI v2, now supports Ethereum Virtual Machine (EVM) blockchains. This is a major advancement for the Sei network. Version 2 improves the performance of Ethereum by dealing with most bottlenecks that Layer 2 blockchains face. EVM compatibility makes it easier for developers who are familiar with Ethereum-based tools. For example, developers can now deploy smart contracts from EVM chains onto the Sei network without changing their code.
Now, what is the Sei crypto?
The native Sei crypto coin, called SEI, is used in the following:
The Sei crypto coin has a total supply of 10 billion tokens, with around 3.05 billion USD tokens currently available for trading on the cryptocurrency market. When the token was first launched on August 15, 2023, the SEI price was USD 0.064.
Due to increased network activity, the SEI price reached an all-time high of $1.14 on March 16, 2024. However, it has since dropped in value. In May 2024, there was a 25% increase in one day when the Sei team shared a detailed plan for their upgraded version called “parallelized EVM” v2.
What does the future hold for Sei Crypto? Should you consider investing in it? The value of the Sei crypto coin can fluctuate depending on market sentiment, the number of users on the network, and the expansion of the DeFi ecosystem.
Sei (SEI) is setting a new standard in the blockchain world with its high-performance, scalable platform that supports a range of applications and services. Its innovative approach to scalability, coupled with its powerful tokenomics and diverse use cases, positions it as a significant leader in the future of blockchain technology.
Yes, you abSEIutely can purchase Sei in Canada. You can buy it through a cryptocurrency trading platform like Coinsquare, where all your crypto purchases are quick and uncomplicated. Open an account today to discover how easy it can be to own Sei coins in as little as a few minutes.
There are many other Canadian and international cryptocurrency platforms where you can purchase Sei and participate in other crypto-based activities like staking. Many international platforms support transactions in Canadian dollars, but be sure to verify this before registering with them. Look for a platform that’s accessible for someone with your level of experience. The platform you choose to buy Sei should also feature robust security and exceptional customer support.
Another way to buy Sei is through a P2P platform. P2P platforms enable direct buying, selling, and trading of digital assets like Sei without banks or centralized platforms. They offer greater privacy and control over your funds compared to centralized platforms and typically have fewer expenses for things like overhead, which means lower fees for users. However, P2P transactions can be slower and more complex. Using a P2P platform to buy Sei requires time to learn the process and involves more manual effort, potentially prolonging each transaction.
Yes, as long as you do your due diligence on the platform you’re using for trading. Verify that the platform has a good reputation and has been in business for a reasonable amount of time. They won’t have as long a track record as a lot of companies because trading in crypto is still fairly new and because there are lots of mergers and acquisitions in the crypto space, but they should have a traceable history and positive reviews.
Any platform you choose should use normal security measures like two-factor authentication (2FA) and strong encryption such as SSL (Secure Socket Layer) to protect your data.
Remember that online safety is also partly up to you. Never share your passwords with anyone or record them somewhere where they can be easily uncovered. Don’t do Sei transactions while on public WiFi networks, change your passwords often, and always use strong passwords. Be vigilant about doing your part to secure your own account.
You can buy Sei and many other popular cryptocurrencies like SHIB, BTC, XRP, DOGE, LTC and more directly from Coinsquare’s secure, trusted trading platform.
The process is quick and easy. Sign up for an account and start your purchase by following these steps:
The increasing popularity of cryptocurrencies means that you can use them in more and more ways. Many retailers now accept Sei for online and even in-store purchases. In fact, money is transferred all over the world via various blockchains, including the Sei blockchain; opening the door to possibilities that might not otherwise exist.
You can use Sei to trade for other cryptocurrencies. Coinsquare customers can make trades directly from the platform. If you’re a beginner, access all the information you can about Sei and other cryptocurrencies before you get heavily into trading.
Go through the information available on Coinsquare’s website, which features many helpful explainers and blogs, as well as a real-time news feed about what’s going on with Sei and other currencies in the crypto space. There are many other sources for information about what’s new and exciting for Sei, such as:
As a cryptocurrency trading platform, we understand that you're curious about the potential for Sei's value to increase. It's important to note that the value of any cryptocurrency, including Sei, can be influenced by a wide range of factors such as market demand, technological developments, regulatory news, and broader economic conditions.
While historical performance and current trends can provide some context, past performance is not representative of future results. We recommend staying informed through reliable sources, considering a diversified approach to your investments, and only invest according to your risk tolerance.
Always make sure to do your own research and consider seeking advice from financial professionals before making any trading decisions.
Sei holdings are normally stored in special software applications called wallets. They can be divided into hot wallets and cold wallets. Due to their complementary functions, most investors use a combination of hot and cold wallets for their Sei holdings.
Hot wallets are digital applications used to store cryptocurrencies like Sei. Hot wallets are connected to the internet, making them easily accessible for transactions. These wallets are commonly used for everyday trading and transfers due to their convenience and ease of moving funds in and out of them.
Storing Sei in a hot wallet makes it quick and easy to access for trading and spending. Hot wallets usually have a user-friendly interface that makes them intuitive to use and suitable for people with limited experience in the crypto space. Hot wallets allow quick and easy access to your Sei for trading and spending.
The downside to hot wallets is that being online, they are more vulnerable to hacking, phishing and other types of interference. Some hot wallets are also custodial, meaning that a third party holds your private keys; this can pose a security risk in the event of a data breach.
Cold wallets are physical devices or offline storage SEIutions you can use to store Sei and other cryptocurrencies.
Unlike hot wallets, cold wallets are not connected to the internet, meaning that they are less vulnerable to hacking, phishing, and malware. This enhanced security prompts many investors to hold most of their Sei in cold wallets. Cold wallets also allow you to maintain control of your private keys.
Cold wallets are not as convenient as hot wallets for daily transactions; your Sei holdings need to be moved to a hot wallet for you to use to purchase goods or make trades. It is also possible to lose or misplace your cold wallets since they are physical assets. It’s crucial to have a backup of your wallets in a secure offline location in case you do lose them.
To open an account on a cryptocurrency platform in Canada, investors usually have to provide their full name, date of birth, current address, phone number, and e-mail address. They also have to scan and upload a government-issued ID such as a driver’s license and sometimes provide proof of address using a utility bill, bank statement, or a similar document that shows their full address. A selfie or photo is often required to match them to their government-issued identification.
Providing these details protects the investor and also ensures the security and legitimacy of Sei transactions on the cryptocurrency trading platform. Providing this personal information enables the platform to comply with regulatory standards.
The process of collecting personal information is known as Know Your Customer (KYC). KYC helps prevent illegal activities like money laundering, fraud, and terrorist financing. This is a regulatory requirement that Canadian registered marketplaces for crypto assets, like Coinsquare, must adhere to.
Although it may seem onerous and invasive to provide such personal information, you should be wary of any cryptocurrency trading platform that does not ask for this information when you open an account. Failure to conduct proper KYC procedures is an indication that the platform isn’t complying with industry standards or Canadian law.
Opening a Coinsquare account to buy Sei is very simple. Click on the Get Started button on our main Canadian webpage or downloading the Coinsquare app and enter the information as requested. Once your account is set up, you will need to fund it, which you can do directly from your bank via Interac e-transfer. Be sure to review the limits and other notes regarding funding your account with Canadian Dollars.
When you make your first deposit, there is a brief waiting period before your funds become available for investment, but after that, you’ll have access near instantly but can sometimes take up to 30 minutes of completing a transfer.
If you are using digital currency to make your initial deposit, the procedure is slightly different but still quick and convenient. If you have any issues making deposits, access the support documentation from our main page. If you can’t find the answers to your questions there, our Customer Success team is available 24/7.
Coinsquare is a leading cryptocurrency trading platform founded by Canadians for Canadians. We’re excited to welcome you to the ever-growing cryptocurrency world!
