How to Buy Ethena (ENA)

Ethena (ENA) is the governance token of the Ethena Protocol, a decentralized synthetic dollar system built on Ethereum. Designed to offer a censorship-resistant, scalable, and stable crypto-native unit of account, Ethena introduces USDe—a synthetic stablecoin collateralized by Ethereum-based assets and delta-neutral strategies.

ENA plays a crucial role in protocol governance, allowing holders to vote on system upgrades, risk parameters, and incentive distribution. Ethena brings innovation to decentralized finance (DeFi) by enabling a stable, yield-bearing dollar alternative that doesn’t rely on traditional banking infrastructure or fiat-backed reserves.

Whether you're looking to hedge volatility, earn passive yield, or actively engage in the DeFi ecosystem, Ethena offers a compelling solution for the next era of on-chain finance. 

1. Sign In or Create an Account 
   Get started by creating your free Ndax account. The sign-up process is quick, secured, and includes a seamless identity verification step that gets you ready to trade fast.
2. Fund Your Account with Canadian Dollars 
   Deposit Canadian dollars into your account easily using Interac e-Transfer or Wire Transfer.  
3. Purchase ENA 
   With a minimum of $10 CAD, you can start building your position in Ethena. Simply trade your CAD for ENA on the Ndax platform, where you’ll enjoy a flat, low trading fee of just 0.2%. 

Once you've bought Ethena (ENA), it's time to consider how you'll store your assets.

• On Ndax: You can manage your cryptocurrency holdings seamlessly through the Ndax platform. For optimal asset protection, Ndax employs a robust security framework, including cold storage, hot wallets, and Multi-Party Computation (MPC). A portion of client assets are also held with trusted third-party custodians, who adhere to stringent security standards.
• External Wallet: Prefer to manage your own private keys? Transfer your ENA to a compatible self-custodial wallet for full custody and added flexibility. 

• Govern the Ethena Protocol: ENA holders influence decisions on upgrades, collateral strategies, and incentive mechanisms through on-chain governance.
• Earn Yield: Participate in staking and liquidity programs designed to support Ethena’s stability and ecosystem growth.
• Trade or Hold: Hold ENA as a speculative asset or trade it based on market trends, all from within the Ndax platform, via web or mobile. 

• Safety-First Approach for Peace of Mind Trading: Ndax protects your digital assets and employs a robust security framework, including cold storage, hot wallets, and Multi-Party Computation (MPC). A portion of client assets are also held with trusted third-party custodians, who adhere to stringent security standards. You can trade with confidence knowing your funds are secured.
• Grow Your ENA Holdings Automatically: Enable recurring ENA purchases to automate your investing strategy. Select daily, weekly, or monthly intervals starting from just $10 CAD.
• Trade On the Go: Download the Ndax app for iOS or Android to manage your ENA investments on the go. Check prices, place trades, and fund your account with ease. 

The cryptocurrency market is volatile. Avoid missing out on trades by using Ndax’s unique trading options:  

• Limit Order: A buy or sell order that is executed at a specific price or better.  
• Stop Order: An order to Market buy or sell once a cryptocurrency reaches a designated price point.
• Trailing Stop Market Order: An order set at a specified dollar amount away from the last price, bid, or ask of a cryptocurrency.  
• Trailing Stop Limit Order: A limit buy or sell order that is triggered when a cryptocurrency reaches a user-defined trailing amount.  
• Fill or Kill (FOK) Order: A trade that must execute immediately and in full at a certain price; if it can’t be fully filled right away, the entire order is canceled.  
• Immediate or Cancel (IOC) Order: A trade that executes immediately, canceling any unfilled portions of the order.  
• Reserve Order (Iceberg Order): A large trade broken down into multiple limit orders, with some portions visible and others concealed.

Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for informational purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise. Ndax is a member of the Canadian Investor Protection Fund (CIPF). Please refer to the CIPF for coverage qualification criteria.