By opting-in, you are consenting to the automatic deposit of your cash rewards by Wealthsimple Payments Inc. (WSP) into your Wealthsimple Crypto account (Crypto account). You are instructing Wealthsimple Digital Assets Inc. (WDA) to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s 1.5% fee, in the amount of the cash reward proceeds. The automatic deposit will be executed by WSP upon settlement of the purchase transaction that earned you rewards. As a result, you will not be subject to additional pre-trade disclosure statements prior to the execution of the order to buy your selected cryptocurrency.
Due to settlement delays and market price volatility, the price of the cryptocurrency at the time of the deposit may be higher or lower than the current price. You will receive an email confirmation after the cryptocurrency has been bought and will be able to review every itemized cryptocurrency transaction in your activity feed. In order to follow pending transactions and verify the status of each reward, you can review your Wealthsimple Cash account (Cash account) transaction feed in real time. Please note that by navigating to the screen where you initially set up the Crypto Back feature, you can decide to opt-out or to make changes to the cryptocurrency selection. We encourage you to review information provided by Wealthsimple Crypto about available cryptocurrencies before using your rewards to buy crypto and to refer to Wealthsimple Crypto’s Product Risk Disclosure for a more detailed description of the extent of the risks associated with trading or transferring cryptocurrencies.
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