Crypto trading accounts are non-registered personal accounts. This means you’ll need to report any capital gains or losses incurred from buying and selling cryptocurrencies for tax purposes.

You can learn more about how the CRA treats digital currencies for tax purposes by visiting the CRA website. 

With crypto trading accounts, there are no account minimums and no fees to deposit or withdraw. Rather than charging separate fees, we use spreads to cover the cost of our liquidity providers, our operational fees, and safe coin storage. You won’t pay more than 2% per transaction.

Coins are held by Gemini Custody™, a regulated crypto custodian. Gemini is regularly audited and subject to the compliance standards of a traditional financial institution. Wealthsimple Digital Assets is only permitted to access your crypto-assets held at Gemini to settle sell transactions initiated by you.

Gemini Custody™ has institutional-grade security with 24/7 access-controlled secured facilities. The hardware security modules that store the keys (what you need to access the coins) are kept entirely offline. Gemini’s hardware security modules have achieved the highest levels of the U.S. government’s security rating.

In order to protect our clients’ crypto-assets, we have also instituted internal controls that restrict the ability for any assets to move between unauthorized accounts or parties. Specifically, any withdrawals or asset movement require real-time multi-signature authentication, two-factor authentications, and time-limited approvals.

As per the government rules regarding beneficiaries, you are unable to designate beneficiaries for non-registered accounts – like your Crypto account. Instead, you'd need to manage this through your estate (i.e. through a will).