Looking for where to buy Gala Games (GALA) in Canada? This guide covers the top Gala Games exchanges you can use.
Gala Games is a blockchain-based, play-to-earn gaming platform. Read on to learn about how to invest in Gala Games.
How To Buy Gala Games in Canada
1. Open an account: Create an account at a cryptocurrency exchange that offers Gala Games. 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 GALA: Place a ‘buy’ order for Gala Games. Some exchanges offer GALA-crypto and GALA-CAD pairs, so you may not need fiat currency to buy Gala Games.
4. Store Gala Games: It is generally advised to keep your cryptocurrency offline using a hardware wallet like Ledger. You can also leave your Gala Games assets on the exchange.
Where To Buy Gala Games (GALA) in Canada
The top cryptocurrency exchanges offering Gala Games in Canada are:
1. VirgoCX
VirgoCX is a Canadian crypto brokerage platform available in all provinces and territories. It is one of the best places to buy Gala Games. Its top features are:
- Instant verification
- 60+ coins, including GALA
- 0.50% to 2.50% trading fee with free deposits
- Canada-based and FINTRAC-registered Money Service Business (MSB)
- User-friendly for beginners
- $20 welcome bonus
VirgoCX
Get a $20 bonus when you deposit $100
Great crypto broker for newbies
0.50% to 2.50% trading fee
Trade several popular coins
2. 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 GALA
- 1.5% to 2% trading fee; free withdrawals and deposits
- Canada-based and FINTRAC-registered Money Service Business
- User-friendly for beginners
Wealthsimple Crypto
Trade several cryptocurrencies
Excellent trading platform
1.5% to 2% trading fee
How To Sell Gala Games
Selling Gala Games (GALA) is just as easy as buying it. The steps are:
- Sign in to your crypto exchange account and search for your Gala Games wallet.
- Place a ‘Sell’ order for GALA at either the current market price (market order) or a specific price you prefer (limit order).
- When your sell order is completed, the cash proceeds are added to your fiat balance.
What To Look For in a Gala Games Crypto Exchange
You should consider several factors when choosing an exchange to invest in Gala Games 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.
What is Gala Games?
Gala Games was founded in 2019. Unlike traditional gaming platforms like Steam and Xbox, the Gala gaming blockchain ecosystem aims to decentralize the gaming industry by providing gamers with control over gaming assets.
To achieve that, Gala Games focus on creating projects that combine P2E mechanisms, NFTs, and decentralized finance (DeFi) to create video games where users can earn money by playing their favorite games.
Users earn GALA tokens just by playing and achieving in-game milestones or creating and trading in-game NFTs that can also be traded on non-game-based exchanges to earn crypto.
Earned assets can then be exchanged for cash or other digital assets.
Users also have voting rights to influence the platform’s development, determine which games should be added, platform features to add, and more.
The GALA token is the native cryptocurrency that powers the operations of Gala games. It’s an ERC-20 token that’s also compatible with the Binance Smart Chain.
How to Store Gala Games
You can store Gala Games using a variety of hardware and software wallets.
The most popular hardware wallets in Canada are:
Gala Games Canada FAQs
While Gala Games is not legal tender in Canada, it is legal for anyone to buy it in Canada.
Gala Games, 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 Gala Games will increase in price. If there is a prolonged crypto bear market or the government bans Gala Games, its value could go to zero.
You can easily buy Gala Games in Canada using VirgoCX, Binance, Wealthsimple Crypto, or Newton.
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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.
