How To Buy Chiliz (CHZ) in Canada Aug 2022

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by Enoch Omololu, MSc (Econ)

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Looking for where to buy Chiliz (CHZ) in Canada? This guide covers the top Chiliz exchanges you can use.

Chiliz is a blockchain infrastructure that powers Socios.com, a crowd management platform that drives the Chiliz experience by allowing sports fans to have unique experiences and direct engagement with their favorite teams.

Read on to learn about how to invest in Chiliz.

What is Chiliz?

Through the Chiliz protocol, sports clubs can monetize their fan bases by providing unique experiences to their supporters.

CHZ is the native cryptocurrency of the Chiliz blockchain. It’s an ERC20 and BEP2 token that allows fans to purchase branded Fan Tokens of their favorite sports teams through the Socios.com platform.

The CHZ token can be purchased on Chiliz.net or popular crypto exchanges like Binance and Kraken. Users can then use the CHZ token to purchase Fan tokens of renowned teams in the world on Socios.com.

Fan tokens purchased on Socios.com gives fans the ability to influence their teams via popular vote. Tokens holders get early tickets, have club voting rights, and are eligible for engagement-based team rewards and recognition.

Token holders also influence club uniform designs, stadium names, starting lineups, celebration songs, and other decisions presented by the team.

Top teams that partner with the Chiliz protocol include FC Barcelona, Juventus, Paris Saint-Germain, CAI &UFC, OG, Atletico de Madrid, and others.

How To Buy Chiliz in Canada

1. Open an account: Create an account at a cryptocurrency exchange that offers Chiliz. Because this altcoin is not as popular as Bitcoin, Ethereum, or Solana, only a handful of exchanges support it in Canada.

2. Fund your account:After opening your crypto account, fund it using Canadian dollars or transfer in your existing crypto assets from an external wallet.

3. Buy CHZ: Place a ‘buy’ order for Chiliz. Some exchanges offer CHZ-crypto and CHZ-CAD pairs, so you may not need fiat currency to buy Chiliz.

4. Store Chiliz: It is generally advised to keep your cryptocurrency offline using a hardware wallet like Ledger. You can also leave your Chiliz assets on the exchange.

Where To Buy Chiliz (CHZ) in Canada

The top two cryptocurrency exchanges offering Chiliz in Canada are:

1. Netcoins

Netcoins is a Canada-based crypto brokerage offering Chiliz and a host of other altcoins. It is owned by BIGG Digital Assets, a company listed on the Canadian Securities Exchange (CSE).

Its top features are:

  • Multiple coins including CHZ
  • 0.50% trading fee; free deposits and withdrawals
  • Crypto Visa Card – Netcoins Pay
  • User-friendly platform for beginners
  • Almost instant account verification

Offer: Get a $60 bonus when you trade $100 worth of crypto coins in your new account.

Netcoins

netcoins logo

Trade several popular coins

Excellent crypto broker for newbies

Up to 0.50% trading fee

Get a $25 bonus when you trade $100

2. Binance

Binance is the largest cryptocurrency exchange in the world. It offers Chiliz and hundreds of other altcoins and stablecoins (over 600 coins in total).

Top features of Binance include:

  • Available on all devices
  • Very low trading fees at 0.10% or lower
  • Multiple funding options
  • Offers crypto staking so you can earn interest on your crypto assets
  • Crypto derivatives markets
  • NFT marketplace
  • Software wallet (Trust Wallet), and more
  • Crypto Card

Note that Binance is not available to residents of Ontario.

Offer: Get a 20% lifetime fee discount. When you pay trading fees using the Binance Coin (BNB), you get an extra 25% discount (45% fee discount overall).

Binance

binance

Trade hundreds of popular coins

Best for advanced crypto trading tools

Up to 0.10% trading fee

Get a 20% lifetime trading fee discount

3. Wealthsimple Crypto

Wealthsimple Crypto is a top crypto brokerage in Canada offering 50+ coins. It is on the same platform as the company’s Wealthsimple Trade product, a no-commission brokerage for stocks and ETFs.

Its top features include:

  • Trade crypto coins, stocks, and ETFs in one place
  • 50+ coins including CHZ
  • 1.5% to 2% trading fee; free withdrawals and deposits
  • Canada-based and FINTRAC-registered Money Service Business
  • User-friendly for beginners

Wealthsimple Crypto

wealthsimple logo

Trade several cryptocurrencies

Excellent trading platform

1.5% to 2% trading fee

Get a $25 bonus when you deposit $150

4. Newton

Newton is a Canadian crypto brokerage platform available in all provinces and territories. It is one of the best places to buy Chiliz. Its top features are:

  • Instant verification
  • 70+ coins, including CHZ
  • 0.70% trading fee with free deposits
  • Canada-based and FINTRAC-registered Money Service Business (MSB)
  • User-friendly for beginners

Newton

newtonlogo

Trade several popular coins

Excellent crypto broker for newbies

Up to 2.00% trading fee

Get a $25 bonus when you trade $100

How To Sell Chiliz

Selling Chiliz (CHZ) is just as easy as buying it. The steps are:

  1. Sign in to your crypto exchange account and search for your Chiliz wallet.
  2. Place a ‘Sell’ order for CHZ at either the current market price (market order) or a specific price you prefer (limit order).
  3. When your sell order is completed, the cash proceeds are added to your fiat balance.

What To Look For in a Chiliz Crypto Exchange

You should consider several factors when choosing an exchange to invest in Chiliz and other cryptocurrencies.

Some of my top considerations are:

Trading fees: Choose a crypto exchange that has competitive trading fees. Fees eat into your investment returns, and the lower they are, the better.

Security: Investigate the security measures put in place by the exchange to secure your assets. Security features can include 2-factor authentication, cold storage, insurance, etc.

Crypto selection: Confirm that the exchange offers the coins you plan to buy and sell.

Funding options: It is better to have multiple ways to fund your account such as crypto deposits, debit cards, Interac e-Transfer, credit cards, bank wire, etc.

Crypto withdrawal options:  The exchange should give you the option to withdraw your crypto to an external wallet if you so wish.

How to Store Chiliz

You can store Chiliz using a variety of hardware and software wallets.

The most popular hardware wallets in Canada are:

Chiliz Canada FAQs

Is Chiliz legal in Canada?

While Chiliz is not legal tender in Canada, it is legal for anyone to buy it in Canada.

Is Chiliz a good investment?

Chiliz, like every other cryptocurrency, is a speculative investment, and you can lose or make money when you invest in it. If the crypto market does well, there’s a chance Chiliz will increase in price. If there is a prolonged crypto bear market or the government bans Chiliz, its value could go to zero.

How do I get Chiliz coins in Canada?

You can easily buy Chiliz in Canada using Binance, Wealthsimple Crypto, or Newton.

Related:

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Access to several popular coins.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Easily deposit and withdraw both fiat and crypto.

A publicly traded company on the Canadian NEO exchange.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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