You can deposit any Bitcoin or Ethereum you own from an external wallet into your Wealthsimple Crypto account.
How to deposit cryptocurrency into your Wealthsimple account
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. The majority of steps you'll take will happen in the wallet from which you’re withdrawing funds.
During the withdrawal process, you’ll be asked to enter a deposit address. A deposit address is a unique string of letters and numbers that is used to send coins from your wallet to your Wealthsimple account.
Each type of cryptocurrency in your account has its own deposit address. You'll need to make sure that you choose the address that matches the type of cryptocurrency (i.e. either Bitcoin or Ethereum) you’re transferring.
Find your deposit address
- Sign into the Trade app on your mobile device
- Select View accounts at the top right-hand side of your screen
- Choose your Crypto account
- Select the coin or token that you wish to transfer
- Tap Transfer
- Select Deposit to add crypto from another wallet
- Copy or share the deposit information to add that coin or token from another source
Note: Depositing crypto is not currently available on the web.
Cryptocurrency networks charge a fee to process transactions (also known as a gas or miner fee). This fee can vary by hour, by day, and by transfer amounts. The external source will let you know the network fee you’ll pay before you complete the transfer.
Wealthsimple has no control of these fees, so you’ll need to check the details of the transaction using the block explorer link (like an Etherscan link) provided by the external source.
How long does it take to make a deposit?
Your transfer will go through a series of confirmations in the network before it’s considered complete. In your activity details, we’ll provide you with a link to track the progress of your transfer in real-time. Unfortunately, we have no control over the speed at which transfers are processed, however, you can find general estimates here:
|Ticker||Number of confirmations||Estimated time to complete||Native network|
|Ethereum||ETH||20||~5 mins||Ethereum (ERC-20)|