How to buy Avalanche (AVAX) in Canada + MORE Apr 8th

Million Dollar Journey editor and Canadian Financial Summit founder Kyle Prevost shares financial headlines of the week and offers context for Canadian investors.

A new voice, but same message

One cannot simply replace Dale Roberts.

All I can do is attempt to “stand on the shoulders of giants” that came before me.

I’m Kyle Prevost and I’ll do my best to make sure we don’t fall off of Dale’s giant shoulders as I continue to try and make sense of the markets.

I’ve been around the Canadian personal finance scene in various capacities for a while now, as a writer and editor at Million Dollar Journey and founder of the Canadian Financial Summit. I’m also a teacher, and my students would tell you that I’m my best with a captive audience. I’m hoping that MoneySense readers will be a more gentle learning community than the teenagers I’ve taught business, economics and personal finance to for the last couple of decades. At least I won’t be able to tell if you’re on your phones and ignoring me, or rolling your eyes at my jokes…

Rami Helali started a clothing brand with the goal of making high-quality yet affordable cotton basics. Along with his co-founders Mackenzie Yeates and Benjamin Sehl, he launched Kotn in 2015. The Toronto-based company now has an international team of 70 and is opening up brick-and-mortar shops across North America.

I wanted to start my own business for as long as I can remember. My dad is a civil engineer who moved our family to Cairo when I was in Grade 3 because he wanted to help modernize the country’s infrastructure. We were there for five years and I watched two of my uncles start a tourism business in the south of Egypt, bringing people to ancient temples near Lake Nasser. Those years planted the entrepreneurial seed in me—and fostered my deep connection to Egypt.

After we moved back to Canada, I attended high school in Waterloo, Ont., and later went to the Ivey Business School. Most of my university classmates were on track to become consultants or investment bankers, which I wasn’t passionate about…

Cryptocurrencies took another giant step towards legitimacy in the wake of Russia’s invasion of Ukraine. Crypto threw a lifeline to people desperate to cross national borders at a time when the financial system became strained, fiat currencies depreciated swiftly and access to physical money was limited.

For this purpose—as well as innovations in decentralized finance (DeFi)—digital currencies are gaining ground on the slower, costlier and more restrictive traditional financial system.

Investors looking to tap into this trend may want to take a close look at the Avalanche blockchain, which has applications in fast-growing areas of the cryptoverse. Its native coin, AVAX, offers a way to participate in crypto’s growth without spending large sums on bigger coins like bitcoin and ether.

At the time of this writing, AVAX was the tenth-largest crypto, with a market cap just shy of $23 billion (all figures in U.S. dollars), per CoinGecko. AVAX started 2021 at about $3 in value and hit $114 by year’s end—an eye-watering 3,250% gain—far outpacing its bigger peers like bitcoin (575%) and ether (375%)…