Wealthsimple Crypto is a popular cryptocurrency trading platform in Canada.
Launched in 2020, this platform allows you to trade Bitcoin and Ethereum instantly even if you are new to cryptocurrencies.
When you open a new account and sign up using our exclusive Wealthsimple Crypto referral link (referral code is automatically applied), you get a $50 cash bonus after depositing and trading at least $150.
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How Does Wealthsimple Crypto Work?
Wealthsimple Crypto is owned by Canada’s largest robo-advisor, Wealthsimple Technologies Inc.
It offers Bitcoin and Ethereum trading and was designed with beginner crypto investors in mind.
To get started, sign up here (includes a $50 bonus) and provide the required information. The registration process only takes a few minutes.
Once set up, fund your account using Electronic Funds Transfer, with up to $250 getting deposited instantly.
If you also have a Wealthsimple Trade account, you can easily move money between both accounts.
Wealthsimple Crypto only supports non-registered investment accounts. You can’t use it to invest in a TFSA or RRSP account.
Unlike a full-fledged cryptocurrency exchange, this platform does not allow crypto deposits. You can only fund and withdraw using Canadian dollars.
Learn more in this detailed review.
Wealthsimple Crypto Referral Code ($50 Bonus)
When you join using our exclusive Wealthsimple Crypto promo link, you receive a $50 bonus after meeting the minimum requirements:
- Fund your new account
- Trade at least $150 worth of crypto within 30 days of opening it
The Wealthsimple Crypto referral program also pays you to refer friends using your referral link or code (such as E0U3RG).
When they deposit and trade at least $100 worth of Crypto, you get a $25 bonus, and they get $10.
If you have a Wealthsimple Invest or Trade account. You can also invite friends and earn.
For example, you get the following bonuses when you sign up through our links for these products:
- Wealthsimple Invest: This is the robo-advisor service. Get a $75 bonus when you deposit at least $500.
- Wealthsimple Trade: This is the free stock trading platform. Get a $50 bonus when you deposit and trade at least $150 worth of stocks.
Wealthsimple Crypto Fees
This platform has a simplified fee schedule for the two coins it supports. You pay a 1.50%-2% fee on the price spread per transaction (buy or sell).
For example, if you purchase $100 of Bitcoin and the price spread is 1.50%, you pay a $1.50 fee.
Wealthsimple Crypto does not charge a fee to deposit or withdraw your funds.
Pros of Wealthsimple Crypto
- User-friendly desktop interface and mobile app.
- Coins are held in custody by a regulated custodian.
- Wealthsimple Crypto is a regulated crypto trading platform.
- Has no account minimum.
- Fast and easy registration.
- Free deposits and withdrawals.
Cons of Wealthsimple Crypto
- 1.5-2% trading fee.
- Does not allow you to move crypto to a personal digital wallet.
- Offers only 2 coins.
- Only available to Canadian residents.
- Has a $30,000 CAD total deposit limit.
- Can only deposit CAD fiat.
Is Wealthsimple Crypto Legit and Safe?
Wealthsimple Crypto is a regulated crypto trading platform (regulated via the Canadian Securities Administrators’ Regulatory Sandbox).
Its parent company, Wealthsimple, has more than $10 billion in assets under management and has been operating since 2014.
It should be noted that cryptocurrency investments are not protected by the Canadian Investor Protection Fund (CIPF) or the Canadian Deposit Insurance Corporation (CDIC).
That said, digital assets on Wealthsimple Crypto are held by Gemini Trust Company LLC, which has $200 in cold storage insurance coverage.
Wealthsimple Crypto Wallet
Wealthsimple recently introduced its crypto wallet for bitcoin and ether.
What this means is that you can now transfer your crypto (BTC and ETH) from another exchange to Wealthsimple Crypto.
While transferring your crypto out to a hardware wallet is not yet supported, the company has indicated that it is working on this functionality.
Crypto Referral Bonuses and Codes in Canada
You can also take advantage of the following crypto referral bonuses:
1. Coinsmart: This cryptocurrency exchange allows you to trade 11 different coins including Bitcoin, Ripple, Litecoin, Ethereum, Stella, Tether, and more. It also supports credit card purchases.
Get a $20 bonus when you open an account and deposit $100.
2. NDAX: Also known as the National Digital Asset Exchange, this platform supports the trading of 18 different coins including BTC, Dogecoin, Chainlink, Polkadot, Ethereum, Cardano, Uniswap, and others.
You receive a $10 bonus when you fund your account with at least $100.
3. Shakepay: This user-friendly cryptocurrency platform offers Bitcoin and Ethereum. Deposits and withdrawals are free, and their trading fees vary depending on the price spread.
New clients get a $30 bonus after depositing $100 or more.
4. Bitbuy: This popular crypto platform offers 9 coins, and you get a $40 bonus when you make an initial deposit of $250 or more.
FAQs
When you sign up using a valid referral code from a friend, you get a $10 bonus. With our referral link, this bonus is higher at $50. Note that you must trade at least $150 worth of crypto and be a new client for this offer to apply.
After trading $150 CAD worth of crypto, the $50 referral bonus should reflect on your balance.
Wealthsimple Crypto is one of the best cryptocurrency platforms for beginners in Canada.
Related reading:
- Shakepay Referral Bonus
- Coinsquare Referral Code
- Coinberry Referral Code
- Binance Referral Code
- What is Solana SOL?
Wealthsimple Crypto referral code
Summary
Sign up for Wealthsimple Crypto using our exclusive Wealthsimple Crypto referral code or link and get a $50 cash bonus you can use to buy Bitcoin or Ethereum. You can also cash out.
If I already have a Wealthsimple Trade account, does the referral link work for opening a new Crypto account?
@AV: I think you can only take advantage of the promotion once (i.e. either for Trade or Crypto).