How to Buy Stacks (STX)

Stacks (STX) is a Layer 1 blockchain solution that brings smart contracts and decentralized applications (dApps) to Bitcoin, without altering Bitcoin’s base layer. It leverages Bitcoin’s security while enabling more advanced features such as smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). Anchored directly to Bitcoin for its security and finality, Stacks enables the creation of a new internet where users control their data and assets.

By utilizing its native token STX, the Stacks ecosystem offers scalability, security, and transparency while extending Bitcoin’s utility by enabling smart contracts and decentralized applications that settle on the Bitcoin network. With features like the Stacks 2.0 protocol, Stacks provides an innovative way to build decentralized applications without compromising Bitcoin’s decentralized nature. 

1. Sign In or Create an Account 
   Get started by creating an account with Ndax and verifying your identity quickly through the platform’s streamlined verification process.
2. Fund Your Account with Canadian Dollars 
   You can fund your account using Canadian dollars through options like Interac e-transfer or Wire Transfer for a seamless transaction process.
3. Purchase STX 
   STX is divisible, allowing you to buy smaller amounts to start your investment journey. You can trade Canadian dollars (CAD) for STX starting as low as $5 with competitive trading fees of just 0.2%. 

Once you’ve purchased STX, it’s important to store your assets securely. You have the option of storing your STX on the Ndax platform, or you can transfer your coins to a personal wallet of your choice, whether it’s a hardware wallet or software wallet.

If you choose to store your STX on Ndax, rest assured that we implement top-tier security measures to safeguard your assets. However, if you prefer to manage your own private storage, you can easily transfer your STX to a personal wallet at any time. 

• Hold and/or Trade: You can hold onto your STX for long-term growth or trade it directly for Canadian dollars. Track your performance and manage your trading activity with ease on the Ndax platform.
• Engage in DeFi: STX supports decentralized finance (DeFi) applications, enabling access to a wide range of financial services such as lending, borrowing, and trading without intermediaries.
• Participate in Governance: STX holders participate in the governance of the Stacks network. By holding STX, you can vote on important decisions regarding protocol upgrades and economic changes to the ecosystem. 

• Safety-First Approach for Peace of Mind Trading: Ndax helps ensures the safety of your investments by storing most digital assets in offline cold storage, backed by multi-signature technology.
• Grow Your Position with Recurring Purchases: Ndax allows you to set up automatic recurring purchases of STX, enabling you to grow your position over time. Schedule daily, weekly, or monthly purchases starting from just $10 CAD.
• Easy Trading on the Go: With the Ndax mobile app, you can fund your account, track your portfolio, and start trading wherever you are, on both iOS and Android devices. 

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.