Overview

If you're looking to open a Wealthsimple Crypto account or have already opened one but aren't sure what to do next, this guide will help you get started.

Before you start

• Review our Crypto Product Risk Disclosure
• Consider if trading crypto aligns with your investment goals
• Check which assets we support
• Check which networks we support for crypto asset deposits and withdrawals
• Check if you're limited to how much crypto you can buy
• Learn how we keep the assets and cash in your Crypto account safe:
  • How we keep your crypto assets safe
  • How we keep your money safe in your Crypto account

Open and fund a Crypto account

Follow the steps below to open and fund your Crypto account.

1. Open a Crypto account

To get started, you'll need to open a Crypto account.

2. Complete the loss limit survey

Before you can start trading crypto, we're required to collect additional information to complete your risk profile and determine your loss limits.

3. Fund your account

There are a variety of ways to fund your Crypto account. For instant trading with your funds or instant withdrawal with your purchased assets, we recommend INTERAC e-Transfer and debit card deposits.

Trade crypto

Learn more about buying, selling, and swapping crypto on Wealthsimple.

Buy crypto

You can buy many different crypto coins using Wealthsimple. Unlike stocks and ETFs, you can buy crypto anytime, including on holidays and outside market hours.

Keep in mind that the average price in your order includes Wealthsimple's crypto trading fee.

Sell crypto

You can sell crypto anytime, including on holidays and outside market hours. There's no settlement period after you sell crypto, you can instantly transfer or withdraw it.

Keep in mind that the average price in your order includes Wealthsimple's crypto trading fee.

Crypto swaps

If you'd like to exchange a crypto asset for another, you can make a swap. Swapping assets costs less than selling one asset and then buying another. Since swapping combines these steps in a single transaction, it usually results in lower fees. Check our supported swap combinations.

Deposit and withdraw crypto

Learn more about crypto deposits and withdrawals.

Before you begin:

• Crypto networks charge a fee to process transactions (also known as a gas or miner fee). Learn more about transfer fees.
• Please double-check that you're sending crypto to the correct address when you make a deposit or withdrawal.

Crypto deposit

Depositing crypto into your Wealthsimple account means that you'll be moving coins or tokens into your Wealthsimple account from a wallet outside of Wealthsimple. Please check the crypto coins and networks we support for crypto deposits.

Any unsupported crypto assets or supported crypto assets sent on an incompatible network are currently unretrievable. Please check whether you're using the correct network for your deposit.

Crypto withdrawal

Withdrawing crypto from your Wealthsimple account means you'll be transferring coins or tokens out of your Wealthsimple account into a wallet outside of Wealthsimple. Please check the crypto coins and networks we support for crypto withdrawals.

There is also a daily withdrawal limit of up to $10,000 CAD and a weekly withdrawal limit of up to $25,000 CAD across all coins. Some clients may have different limits based on factors such as account type, transaction history, or risk profile.

If you've deposited from a linked bank account and used those funds to purchase crypto assets, there's a 5 business day hold on the deposit and assets purchased using these funds. The hold doesn't apply to INTERAC e-Transfer and linked debit card deposits.

Stake crypto

Staking is when you offer some of your own crypto assets as collateral in order to be the one to validate transactions on a blockchain. Whoever validates the transactions is given a reward: more crypto. We support a limited selection of crypto for staking.

Staking your crypto assets earns you a percentage of rewards, known as an Annual Percentage Rate (APR) or Annualized Percentage Yield (APY) on the amount you hold with a given staked asset. These aren't guaranteed. Learn more about APR and APY.