Overview

You can deposit crypto into your Wealthsimple account from an external wallet. It's crucial to understand a few things before sending crypto to your Wealthsimple account:

• Supported assets and networks: We only support deposits for specific crypto assets and through specific networks. If you send an asset that isn't supported, or use an unsupported network (any network not listed in the table below, including the default network displayed when withdrawing from Binance or the Binance Smart Chain), we may not be able to recover your assets. We can't guarantee if specific crypto assets will be available for wallet deposits in the future.
   
• Deposit address and memo: Each crypto asset has its own unique deposit address, and some also require a memo (or destination tag). You must use the correct address and include the memo if required; otherwise, your funds could be lost.
   
• Irreversible deposits: Crypto deposits are irreversible. Wealthsimple isn't legally obligated to recover improperly or mistakenly deposited assets. Always double-check the instructions and details before submitting your deposit. We recommend testing a small amount first to ensure it ends up at the right address.
   
• Minimum deposit: There's a minimum deposit of at least 0.000001 per asset for it to appear in your Wealthsimple account.
   
• Deposit limits: There are no limits on crypto deposits. You can deposit as much crypto as you'd like.
   
• Withdrawal limits: While there aren't any limits on crypto deposits, crypto withdrawals do have daily and weekly limits.
   
• Average price adjustments: We'll record the book value of your crypto deposit based on the fair market value at the time the transfer is completed. This will change your overall average price for that coin. We can't change the book value to match your original purchase price on another platform.
   
• Supported currencies: You can deposit crypto in either CAD or USD. Please note that an active USD accounts subscription is required.

Supported crypto for deposits

To see the most up-to-date list of supported crypto assets you can deposit, follow these steps in the Wealthsimple app:

1. Log in to the Wealthsimple app
2. Tap the Move tab
3. Under Transfer assets, tap Receive crypto
4. Tap Receive
5. Review the list of supported crypto

You can also refer to our list of supported crypto for deposits, which includes the number of confirmations, estimated completion time, and supported networks.

How to deposit crypto into your Wealthsimple account

When you deposit crypto into your Wealthsimple account, you're moving crypto assets from a wallet outside of Wealthsimple. Most of the steps you'll take will happen in the external wallet you're withdrawing from.

During the withdrawal process from your external wallet, you'll be asked to enter a deposit address. This is a unique string of letters and numbers that identifies your Wealthsimple account for that specific crypto asset. Each type of crypto asset in your account has its own deposit address. For example, your Bitcoin deposit address is different from your Ethereum Mainnet deposit address.

Find your deposit address

Follow the steps below to find your deposit address:

Memo-based deposits

A memo is a unique code (sometimes called a destination tag) that identifies your specific deposit. The following cryptocurrencies require a memo to direct the funds to the correct account:

• Celestia (TIA)
• dYdX ( DYDX)
• Hedera (HBAR)
• Stellar (XLM)
• The Open Network (TON)
• XRP Ledge (XRP)

When you deposit one of these coins, you'll see a memo code with your crypto deposit address. You must enter this memo when you send the funds.

Transfer timelines and fees

Transfer fees

Crypto networks charge a fee to process transactions, often called a gas or miner fee. This fee can vary by hour, by day, and by transfer amounts. Your external wallet will inform you how much you need to pay to complete the transfer. Wealthsimple has no control over these fees. You'll need to check the transaction details using a block explorer link (like an Etherscan link) provided by your external wallet.

Transfer timeline

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. We don't control the speed at which transfers are processed, as it depends on network congestion and the specific crypto asset. However, you can find general estimates below.

Detailed list of supported crypto for deposits

You can deposit any of the following crypto coins into your account from an external wallet: