Crypto swaps allow you to convert one cryptocurrency into another, for instance, BTC to ETH. For the time being, you can swap the following cryptocurrencies:

Crypto	Symbol	Swapped for
Aave	AAVE	BTC, ETH, USDC
ApeCoin	APE	BTC, ETH, USDC
Avalanche	AVAX	ETH, USDC
Axie Infinity	AXS	BTC, USDC
Balancer	BAL	BTC, USDC
Basic Attention Coin	BAT	BTC, USDC
Bitcoin Cash	BCH	BTC, USDC
Bitcoin	BTC	AAVE, ADA, APE, ATOM, AXS, BAT, BCH, COMP, CRV, DOGE, DOT, EOS, ETH, ETC, FIL, FTM, KNC, LINK, LTC, MKR, POL, SOL, SUHSI, UNI, USDC, SNX, XLM, XRP, XTZ, YFI, ZRX
Cardano	ADA	BTC, ETH, USDC
Chainlink	LINK	BTC, USDC
Compound	COMP	BTC, ETH, USDC
Cosmos	ATOM	BTC, ETH, USDC
Curve	CRV	BTC, USDC
Decentraland	MANA	USDC
Dogecoin	DOGE	BTC, ETH, USDC, SHIB
dydx	DYDX	USDC
EOS Network	EOS	BTC
Ethereum	ETH	AAVE, ADA, ATOM, AVAX, BTC, COMP, DOGE, DOT, FIL, GALA, LTC, NEAR, OP, POL, SOL, UNI, USDC, XRP, XTZ
Ethereum Classic	ETC	BTC
Fanton	FTM	BTC, USCD
Filcoin	FIL	BTC, USDC
GALA	GALA	ETH
Kyber Network Crystal	KNC	BTC, USDC
Litecoin	LTC	BTC, ETH, USDC
Maker	MKR	BTC, USDC
Near	NEAR	ETH
Optimism	OP	ETH, USDC
Ox	ZRX	BTC
Polkadot	DOT	BTC, ETH, USDC
Polygon	POL	BTC, USDC
Render	REN	USDC
Shiba Inu	SHIB	DOGE
Solana	SOL	BTC, ETH, USDC
Stellar	XLM	BTC, USDC
SushiSwap	SUSHI	BTH, USDC
Synthetix	SNX	BTC
Tezos	XTZ	BTC, ETH, USDC
The Sandbox	SAND	USDC
UMA	UMA	USDC
Uniswap	UNI	BTC, ETH, USDC
USD Coin	USDC	AAVE, ADA, APE, ATOM, AVAX, AXS, BAL, BAT, BCH, BTC, COMP, CRV, DOGE, DOT, dydx, ETH, FIL, FTM, KNC, LINK, LTC, MANA, MKR, OP, PEPE, POL, REN, SAND, SHIB, SOL, SUSHI, UMA, UNI, XLM, XRP, XTZ, YFI, 1Inch
XRP Ledger	XRP	BTC, ETH, USDC
Yearn.finance	YFI	BTC, USDC
1inch	1inch	USDC

Initiate a crypto swap

You can initiate a crypto swap on the Wealthsimple mobile app. Follow the steps below:

1. Sign into the Wealthsimple app on your mobile device
2. Select your crypto account from the Home tab
3. Tap on the cryptocurrency you wish to swap
   Note: Not all cryptocurrencies are eligible for swapping.
4. Tap Trade, then choose Swap as the order type
5. Choose the cryptocurrency you wish to swap with
6. Enter the quantity of the crypto you would like to swap and tap Review
7. Review the order details and tap Submit order

Frequently asked questions

What are the fees for crypto swaps?

Our crypto trading fee will apply on the crypto you wish to swap. Our trading fee is based on the tier in which you are in:

• Core: 2% trading fee
• Premium: 1% trading fee
• Generation: 0.5% trading fee

For example, let’s say you wish to swap BTC to ETH and you are a Core client. You will incur a 2% trading fee on the BTC that is being swapped out (you can see an example of the fees applied to swap transactions on our fee schedule). Our trading fee will only be charged on the crypto that is being swapped out.

How does crypto swapping work?

When you initiate a crypto swap, Wealthsimple will sell the crypto that you wish to swap out and deliver the equivalent value of the crypto that is being swapped in. For more information about order routing and handling, you can review our Best Execution and Order Handling Disclosure.

How are crypto swaps different from buying and selling?

Crypto swaps and regular trades are two ways to manage your crypto portfolio on Wealthsimple Crypto. In a regular trade, you sell one cryptocurrency for fiat currency (i.e. Canadian dollars) and then use that money to buy another cryptocurrency. This involves two transactions, each with a transaction fee. Crypto swaps let you directly exchange one cryptocurrency for another in a single transaction, saving you from having to convert to fiat currency first and incurring only one transaction fee.

What are the tax consequences of crypto swapping?

When a crypto is being swapped out, for Canadian tax purposes it is considered to be a disposition of the crypto you are giving up. This disposition is at the market value of the crypto being disposed of at the time of the swap transaction, and you will have a gain or loss on the transaction depending on your book cost in the crypto being swapped.

Wealthsimple doesn't provide tax advice and we encourage you to consult a qualified tax professional or otherwise obtain advice regarding your personal tax situation and the tax implications of using crypto swaps.