Overview

There is no annual buy limit for crypto in the following provinces:

• Alberta
• British Columbia
• Manitoba
• Quebec

The provinces and territories below have a crypto buy limit:

• Ontario
• Newfoundland and Labrador
• Prince Edward Island
• Nova Scotia
• New Brunswick
• Nunavut
• Northwest Territories
• Yukon Territory
• Saskatchewan

Learn more about the crypto buy limit

Crypto buy limits depend on the specific cryptocurrency you buy.

There's no buy limit for the crypto below. You can buy as much as you'd like of the following:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• USD Coin (USDC)

For all other crypto, you can buy a combined total of $30,000 in a 12-month period. This is a net buy limit, meaning that buys of crypto assets deplete your limit, and sales of crypto assets replenish your limit.

Deposits and withdrawals of crypto assets don't impact your limits, and sales of crypto assets won't increase your limit above $30,000.

You can check your crypto buy limit in the Wealthsimple app when initiating a crypto buy order for a coin that falls under the limit. 

Buy limit examples

Buys and sells

If you make a $30,000 buy of Chainlink (LINK), your net buy limit will decrease from $30,000 to $0.

If you sell $10,000 of LINK, your net buy limit will increase from $0 to $10,000.

Deposits and withdrawals

Deposits and withdrawals of crypto assets don't impact your net buy limit. Following the example above, If you withdraw your remaining $20,000 in LINK, your net buy limit stays at $10,000.

If you deposit $10,000 of Dogecoin (DOGE) and sell it, your net buy limit will increase from $10,000 to $20,000 because of the sale.

Rolling 12-month period

If you buy $15,000 of LINK on January 1, 2024, your net buy limit will be $15,000. If you also buy $15,000 of DOGE on June 1, 2024, your net buy limit will be $0.

On January 1, 2025, your net buy limit will increase from $0 to $15,000, as 12 months will have elapsed since your $15,000 buy of LINK. Later on June 1, 2025, your net buy limit will increase from $15,000 to $30,000, as 12 months will have elapsed since your buy of DOGE.