Coinsquare is the most trusted cryptocurrency trading platform in Canada. We facilitate your participation in the cryptocurrency space with over 50 of the top crypto coins on the market, including the popular SushiSwap (SUSHI) coin.
Want to learn more about how to invest in cryptocurrencies like SUSHI? This page covers the essentials for beginning crypto investors, with instructions on how to get started quickly.
Add money in the currency of your choice (this can include CAD). These funds are what you’ll use to buy SUSHI.
Before you buy, you can check the current price of SUSHI, or any other token listed in Coinsquare in CAD or USD.
Congratulations! You are now an owner of the SUSHI cryptocurrency, along with thousands of others in the SUSHI community!
After making your purchase, your SUSHI will be stored in your secure and insured Coinsquare wallet. If you wish, you can withdraw the coin to your own external wallet.
Ethereum helped bring blockchain and smart contract technology into different industries. This led to the development of decentralized apps (dApps) that allowed people to lend, borrow, farm for yields, stake tokens, and more. Even though SushiSwap started as a hard fork of Uniswap, it has unique features. So, what exactly is SushiSwap crypto, and how does it help with decentralized finance? Let's dive in!
SushiSwap is a decentralized cryptocurrency trading platform on the Ethereum blockchain, functioning as a decentralized exchange (DEX). Users provide liquidity by staking their cryptocurrencies as collateral for trading. SushiSwap was created by anonymous user "Chef Nomi," along with "sushiswap" and "0xMaki" as co-founders.
SushiSwap crypto provides various trading pairs and enables users to have full control of their funds through smart contracts on the Ethereum blockchain. SushiSwap is a crypto exchange that uses an automated market maker (AMM) model. It enables traders to transact in cryptocurrencies without intermediaries through smart contracts. SushiSwap operates with an automated liquidity protocol where users can deposit their crypto assets into pools to execute trades at current market prices.
SUSHI is the native SushiSwap crypto coin. It is an ERC-20 token used as a reward for liquidity providers on the platform. Users earn SUSHI by offering funds to trading pairs on the DEX, with rewards based on the amount and duration of liquidity provided. Furthermore, SUSHI token holders can participate in governing the SushiSwap by suggesting ideas and casting votes on important platform decisions. SUSHI tokens are tradable on multiple crypto exchanges and can be stored in any Ethereum-compatible wallet.
SushiSwap is composed of three key components:
Liquidity providers help the SushiSwap crypto by adding their money to pools. They do this by connecting their Ethereum wallet to the SushiSwap farming protocol and storing two assets in a smart contract. For instance, the USDT/ETH pool has an equal number of USDT and ETH from providers.
After purchasing tokens, buyers can trade them with other tokens in the pool according to the rules of the protocol. SushiSwap's smart contracts handle this process by taking tokens from the buyer and giving them an equal value of tokens in return. This helps to maintain a consistent total pool price.
Providers who keep money in these pools get paid fees and a share of the 100 new SUSHI coins made each day. They can take out their money and any cryptocurrency they earn whenever they want.
If users want to earn more cryptocurrency after collecting their SUSHI tokens, they can use the SuSUSHIar app. It lets users stake SUSHI to earn xSUSHI tokens. These xSUSHI tokens are made up of SUSHI tokens purchased from the market using some fees earned on the exchange.
Over time, SushiSwap has thrived with new projects and uses. The key feature of SushiSwap is its decentralized exchange. In 2021, they also started a project called “Shoyu” to improve existing NFT marketplaces, but it didn't get much attention from users.
Another feature called "Kashi" is a tool in the SushiSwap system that lets users lend and borrow assets, as well as engage in leverage trading. Lastly, "SuSUSHIar" is a feature that allows users to earn rewards by staking their SUSHI tokens.
Investors with all levels of knowledge are welcome to participate in the exciting world of SUSHI investing, trading, mining, and all other activities in this technology space. As an inclusive community, crypto arenas work to be accessible to everyone.
Coinsquare is vigilant about education, maintaining a real-time news feed in its mobile app, and providing 24/7 customer service support for all our account holders.
Before investing in SUSHI, do your research and your due diligence. Evaluate the market performance, the SUSHI community, and the security aspects of SUSHI. As you immerse yourself in the crypto space, you can go further: assess the project’s partnerships with other companies and organizations, figure out what SUSHI’s plans are for the future, and evaluate the SUSHI community’s engagement, online presence, and enthusiasm.
Anyone who wants to invest in SUSHI should understand basic concepts like what a blockchain is, how blockchains work, and the purpose of consensus mechanisms like Proof of Work and Proof of Stake. These concepts are reasonably accessible and essentially the same for all cryptocurrencies. You can find plenty of online guides to explain them. If they don’t make sense to you right away, stick with it and search for resources that are suited to your learning style.
SUSHI’s market performance and price data over time isn’t representative of where SUSHI is going, but it will give you a sense of the confidence other investors have had in it. As with all investments, past results are not indicative of future performance, so be diligent in your research before buying any type of investment
Also, consider the market capitalization for SUSHI. The market cap is a metric used to indicate the total value of SUSHI. Each cryptocurrency has a market cap. This figure is important because it can be used to compare different cryptocurrencies and evaluate their relative dominance on the market overall.
Coinsquare makes this data easily accessible. We provide all the information you need to make an informed decision about buying SUSHI.
Sufficient liquidity when purchasing SUSHI on the trading platform you choose is important so that it’s easy to buy and sell without significantly impacting the price. Trading volume can be used as an indicator for trading interest in SUSHI within a specific timeframe.
Look into the partnerships that SUSHI has established with other companies and organizations. Partnerships with reputable, well-respected companies indicate trust in SUSHI. These partners often conduct extensive due diligence, which will give you confidence in SUSHI and its ongoing viability.
Partnerships with tech companies can also give SUSHI access to resources like expertise and equipment, while strategic partnerships can provide the financial backing that SUSHI needs to shore up its stability and continue to innovate and grow.
Overall, solid partnerships suggest that other companies see value in SUSHI and are willing to back it with their own resources.
A large and active community is important to a cryptocurrency’s success. Follow SUSHI’s social media channels to see how involved people are with SUSHI, keep up with the news about it, and get a sense of the community vibe. Developer support for SUSHI can give you additional information about the SUSHI community.
Investigate any past security incidents and see how they were addressed. Check on the social media chatter about these incidents to evaluate how the public and the SUSHI community responded.
Collecting information about SUSHI before you invest will help you make better investment decisions and manage any potential risks. Coinsquare is dedicated to giving you as much information as possible to help you get comfortable in the crypto space.
You have options for trading platforms in Canada. Why choose Coinsquare?
Here are the advantages we offer to individuals or organizations interested in SUSHI or other cryptocurrencies:
Since its founding in 2014, Coinsquare has become a leader in the cryptocurrency space in Canada. Over the past decade, we have welcomed over 500,000 Canadian users to the crypto space and facilitated trades in excess of 8 billion Canadian dollars. We have the experience, customer base, and dedication to the community to have earned an outstanding level of trust and success. Open an account today; let’s see where we can go together!
