Personal Finance

WealthSimple Crypto

  • Last Updated:
  • Jul 13th, 2020 8:53 pm
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[OP]
Deal Fanatic
Nov 6, 2018
7703 posts
9675 upvotes

WealthSimple Crypto

*As always do not solicit referrals in the forums.*

https://www.wealthsimple.com/en-ca/product/crypto/

WealthSimple if getting into the crypto game.

Say hello to Wealthsimple CryptoWealthsimple Crypto is the simplest way to trade Bitcoin and Ethereum — and it's almost here! But before we announce it to the world tomorrow, we're giving you the very first chance to join the waitlist. Think of it as a VIP pass to move to the front of the line — and our way of saying thanks for being a Wealthsimple Trade client.

We're almost ready to start inviting users. When we are, you'll be able to access our Crypto product through the same app as Wealthsimple Trade. In the meantime you can get even earlier access by referring your friends — for every friend who joins, you move up the line.

Bitcoin and Ethereum will be available to purchase.
…We do plan to offer more in the future — stay tuned.

Protecting your personal information and coins is our top priority.

Coins are held by Gemini Trust Company LLC™, a regulated crypto custodian with $200M in cold storage insurance coverage.

We keep your coins safe
Last edited by Gtaphotog on Jul 13th, 2020 8:21 pm, edited 4 times in total.
8 replies
Deal Addict
Aug 1, 2006
2279 posts
1854 upvotes
Toronto
I'm not a crypto person ( except interested in the upcoming MCO Visa card ) so I wonder if this will have any advantage over crypto trading sites like Newton (cheapest) and Shakepay ( a little more expensive but easier to use than Newton ) . @titaniumtux
Newbie
Sep 13, 2016
73 posts
27 upvotes
Probably a late entrant now.. isn’t all crypto’s broke ?
[OP]
Deal Fanatic
Nov 6, 2018
7703 posts
9675 upvotes
VSU2508 wrote: Probably a late entrant now.. isn’t all crypto’s broke ?
Ya that's what I was thinking when I saw the email.
Newbie
Sep 13, 2016
73 posts
27 upvotes
Gtaphotog wrote: Ya that's what I was thinking when I saw the email.
Moreover it’s still a wait list Face With Tears Of Joy ... not launched officially..
Deal Addict
Aug 1, 2006
2279 posts
1854 upvotes
Toronto
The worst thing about crypto is that even if you make money, it's hard to keep track of gains and losses to pay your taxes properly. That's the biggest worry right now in the crypto world ( besides loss of money ) .
Deal Expert
User avatar
May 8, 2009
15531 posts
14044 upvotes
Going to the Moon
Bull Dog wrote: I'm not a crypto person ( except interested in the upcoming MCO Visa card ) so I wonder if this will have any advantage over crypto trading sites like Newton (cheapest) and Shakepay ( a little more expensive but easier to use than Newton ) . @titaniumtux
Depends on the spread.

Edit: they say "commission-free" in the email. No idea what the spread will be. Also, will probably require waiting a week after bank pull before you can trade :lol:
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Deal Addict
Aug 1, 2006
2279 posts
1854 upvotes
Toronto
titaniumtux wrote: Depends on the spread.

Edit: they say "commission-free" in the email. No idea what the spread will be. Also, will probably require waiting a week after bank pull before you can trade :lol:
You can preload the cash on their Wealthsimple Cash tungsten card (when it's available) and earn 0.9% interest so you're ready to buy in at any time on your crypto spend at Wealthsimple :)
[OP]
Deal Fanatic
Nov 6, 2018
7703 posts
9675 upvotes
Bull Dog wrote: You can preload the cash on their Wealthsimple Cash tungsten card (when it's available) and earn 0.9% interest so you're ready to buy in at any time on your crypto spend at Wealthsimple :)
I highly doubt they'll have instant transfers from cash to crypto account.

It's going to be part of the Trade app and currently you can't transfer funds within the Personal, TFSA or RRSP accounts so I doubt it'll only support transfering to crypto and not the others if they come out with that feature.

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