Wealthsimple Crypto lets Canadians buy 50+ cryptocurrencies alongside stocks and ETFs — all in one app. Here's what you need to know.
KOHO is the smart choice for your CAD spending while you invest in crypto. No monthly fees, instant e-transfers, earn cash back on everyday purchases.
Get KOHO Free — Code 45ET55JSYA| Feature | Details |
|---|---|
| Platform | Part of Wealthsimple app ecosystem |
| FINTRAC Registered | Yes (MSB) |
| Coins Available | 50+ |
| Trading Fee | ~1.5–2% spread |
| Deposit Methods | Interac, bank transfer, in-app transfer |
| Crypto Withdrawals | No — crypto stays within Wealthsimple |
| TFSA/RRSP Crypto | No direct crypto; Bitcoin ETFs allowed in registered accounts |
| Mobile App | iOS and Android (integrated with Wealthsimple) |
Wealthsimple Crypto's most significant restriction for serious crypto users is that you cannot withdraw your crypto to an external wallet. Your Bitcoin, Ethereum, and other holdings are custodied by Wealthsimple and cannot be transferred to a hardware wallet, DeFi protocol, or another exchange.
For Canadians who already use Wealthsimple for investing (stocks, ETFs, TFSA, RRSP, FHSA), Wealthsimple Crypto offers unmatched convenience. You can view your crypto holdings alongside your stock portfolio, TFSA balance, and cash account all in one app. Funding from your Wealthsimple Cash account to Crypto is instant.
The simplified user interface — designed to be non-intimidating — makes it ideal for first-time crypto buyers who want to start small and see their total wealth picture in one place.
Wealthsimple Crypto charges no explicit commission but earns revenue through the bid-ask spread, which is approximately 1.5–2% depending on the asset. This is higher than Newton (~0.5%) but comparable to Shakepay for Bitcoin. For casual monthly buyers, this spread is acceptable. For active traders, it adds up quickly.
Wealthsimple Premium and Generation tier subscribers (paid plans based on total assets with Wealthsimple) may receive reduced crypto spreads — worth checking if you're a large Wealthsimple client.
Wealthsimple provides annual tax documents and transaction history exports for crypto activity. Since crypto withdrawals are not permitted, your entire transaction history stays within the platform — which simplifies ACB tracking in some ways. However, if you also hold crypto on other platforms, you must combine all records for correct ACB calculations. See our crypto tax guide and our crypto ETF guide for how Bitcoin ETFs in your TFSA or RRSP are taxed differently.