Wealthsimple Crypto accepts deposits in Canadian dollars via an electronic funds transfer from a Canadian bank. Funds will typically be available to trade in your account within 5 business days.
Once you’ve linked your bank account, you can initiate a deposit into your Wealthsimple Crypto account. It generally takes about 5 business days from the day of initiating your deposit for the funds to be deposited and available in your Crypto account. If depositing less than $1,000, this timeline may be shortened to as little as 3 business days.
Due to the volatile nature of crypto, we do require the funds to clear your banking institution’s rejection timelines to ensure the funds won’t be pulled back which does normally occur on the fifth business day.
Once you've initiated a deposit to Crypto, you must ensure your bank account maintains a balance that will cover the deposit amount until it has been completed. You should see the funds deducted for "CDN SHR INVEST INV" (our brokerage) from your bank account.
Please note, if you see a notification in your app that says "We need more information to complete your account opening", this will delay your first deposit by a few more business days. Once your account is opened though, the normal timelines will apply!
Make a deposit into your Wealthsimple Crypto account
- Sign into the Trade app on your mobile device
- Tap the Profile icon on the top left corner of the screen
- Select the Funding menu item
- Choose Add funds
- Select your Crypto account
- Choose an amount to deposit into your account
- Select the bank account from which you’d like to withdraw funds
- Hit Continue to confirm the transaction details and begin the deposit
Tip: You can also view or cancel your pending deposits.