Wealthsimple Crypto Review
WealthScale is independent and not affiliated with Wealthsimple.
This Wealthsimple crypto review finds a platform that charges a flat 0.5% fee plus a spread on market orders, with no spread on limit orders and no fee or spread on recurring buys, under the fee schedule dated September 24, 2026. You can trade 170+ coins, stake four of them and move crypto to and from outside wallets. Wealthsimple Investments Inc. is a registered crypto trading platform and a CIRO dealer member, but crypto itself is not protected by CIPF. Wealthsimple Crypto scores 4.6 / 5, first of the nine authorized platforms we rank. NDAX charges less per trade, at 0.20% flat.
Written by Sharad Gondaliya, CPA CPAChartered Professional Accountant, CPA Ontario No. 61040184
Financial reviewer: Neha Gupta, CFA CFA charterholderReview of this page scheduledAt a glance
Verdict. Wealthsimple Crypto is the strongest all-round crypto platform for Canadians who want a regulated dealer, a large coin list and staking in the same app as their TFSA and chequing. It is not the cheapest per trade: NDAX charges 0.20% flat against Wealthsimple’s 0.5% plus a spread.
Score. Wealthsimple Crypto scores 4.6 / 5 in our crypto platform ranking as of October 22, 2026, rank 1 of 9. Sub-scores: fees 4.25, coins 5, features 5, funding 4.0 and regulation 5.0.
Fees. Market orders cost 0.5% plus a spread. Limit orders cost 0.5% with no spread. Orders under $100 add a $1 surcharge. Recurring buys carry no fee or spread. Active Traders pay from 0.5% down to 0% by 30-day volume, with no spread.
Staking. ETH, SOL, ADA and DOT can be staked for up to 3.8% a year on Core and Premium and up to 5% on Generation, shown net of fees. Wealthsimple keeps 30% of rewards on Core and Premium and 15% on Generation.
Safety. Crypto is offered by Wealthsimple Investments Inc., a CIRO dealer member and registered crypto trading platform since January 1, 2024. Coins are mostly in offline cold storage held in trust. Crypto assets are not covered by CIPF or CDIC; cash in the crypto account is CIPF-covered.
Limits. Investors who are not eligible crypto investors can buy up to $30,000 in net acquisition cost in a 12-month period. Crypto sits in a non-registered account only, not a TFSA, RRSP or FHSA.
Use the crypto trading fee calculator below to see the published fee on your trade size at Wealthsimple and every other authorized platform that publishes a single fee.
1. Wealthsimple Crypto Review: Our Verdict and Score
The short version. Wealthsimple Crypto ranks first of the nine crypto trading platforms on the Canadian Securities Administrators’ list of authorized platforms that we score, at 4.6 / 5. It earns full marks for its coin list, features and regulation. It gives up points on fees, where its 0.5% charge is more than double NDAX’s 0.20%, and on funding, where it publishes free deposits but no full statement of withdrawal costs.
How we score crypto platforms. Fees carry 35% of the score, regulation 20%, and coins, features and funding 15% each. Only platforms on the CSA’s list of authorized crypto trading platforms are included. The full rubric is on our rating methodology page.
| Factor | Weight | Wealthsimple sub-score | Weighted points | What we measured |
|---|---|---|---|---|
| Fees | 35% | 4.25 | 1.4875 | 0.5% published trading fee; 5 minus (fee minus 0.2) x 2.5 |
| Coins | 15% | 5.0 | 0.7500 | 170+ coins; full marks start at 150 |
| Features | 15% | 5.0 | 0.7500 | Staking in Canada (3 points) and withdrawals to outside wallets (2 points) |
| Funding | 15% | 4.0 | 0.6000 | Free CAD deposits; withdrawal costs not fully stated |
| Regulation | 20% | 5.0 | 1.0000 | CIRO investment dealer and CIPF member |
| Total | 100% | 4.5875, shown as 4.6 / 5 | Rank 1 of 9 authorized platforms |
Where it wins. Wealthsimple combines four things few rivals match together: a dealer regulated by CIRO, a list of 170+ coins, staking on four coins and transfers to outside wallets. Recurring buys with no fee or spread also make it one of the lowest-cost ways to build a position slowly.
Where it loses. A one-off market order pays 0.5% plus a spread whose size is not stated in the fee schedule. On a $1,000 trade, the fee alone is $5.00 at Wealthsimple against $2.00 at NDAX. Very small orders cost more, because of the $1 surcharge under $100. Scores never depend on payment from a provider; see how WealthScale makes money.
2. Wealthsimple Crypto Fees: 0.5% Plus a Spread
The current fee schedule. Wealthsimple’s crypto fee schedule dated September 24, 2026 charges a flat 0.5% on each trade for every client tier, plus a spread on market orders. The pricing page shows the same 0.5% for Core, Premium and Generation, and that dated fee schedule is the figure we use throughout this review.
| Order or service | Trading fee | Spread | Other charge |
|---|---|---|---|
| Market order, $100 or more | 0.5% | Yes, built into the price | None |
| Market order under $100 | 0.5% | Yes | $1 surcharge |
| Limit order | 0.5% | No spread | $1 surcharge under $100 |
| Recurring buy | No fee | No spread | None |
| Stablecoin traded for its own currency | No fee | No spread | None |
| DEX trading | 0.85% | Not stated | Network fees currently covered by Wealthsimple |
| Active Trader, under $10,000 of 30-day volume | 0.5% | No spread | None |
What the spread is. The spread is the gap between the price you pay and the market’s mid price. It is built into your quote rather than shown as a separate line, and its size is not stated in the fee schedule. That makes the true cost of a market order higher than 0.5% by an amount you cannot see in advance. A limit order removes the spread: you name your price, and you still pay the 0.5% fee.
Recurring buys. Recurring or automated crypto buys carry no fee and no spread. For someone adding a fixed amount every week or month, that is the lowest-cost way to buy at Wealthsimple. The catch is control: a recurring buy fills at the scheduled time, not at a price you choose.
Compared with the rest of Wealthsimple. Listed stocks and ETFs trade at $0 commission at Wealthsimple, so crypto costs more to trade there than shares do. Our commission-free trading platforms ranking covers share trading costs. Our full list of Wealthsimple fees covers every product.
3. What a Wealthsimple Crypto Trade Costs by Order Size
Why small orders cost more. The $1 surcharge on orders under $100 is a fixed amount, so it weighs heavily on small trades. A $50 market order pays $0.25 in fees ($50 x 0.5%) plus the $1 surcharge, for $1.25, or 2.5% of the order. At $100 the surcharge stops and the cost falls to $0.50, or 0.5%.
| Order size | 0.5% fee | Surcharge | Total published fee | As a share of the order |
|---|---|---|---|---|
| $25 | $0.13 | $1.00 | $1.13 | 4.5% |
| $50 | $0.25 | $1.00 | $1.25 | 2.5% |
| $99 | $0.50 | $1.00 | $1.50 | 1.5% |
| $100 | $0.50 | $0.00 | $0.50 | 0.5% |
| $1,000 | $5.00 | $0.00 | $5.00 | 0.5% |
| $10,000 | $50.00 | $0.00 | $50.00 | 0.5% |
The practical rule. If you buy in small amounts, either use a recurring buy, which carries no fee or spread, or wait until you have $100 or more for a single order. Buying $50 a week by hand costs $65 a year in published fees ($1.25 x 52), before spreads. The same $2,600 bought through a weekly recurring buy costs $0 in fees and spreads.
Round trips add up. You pay the fee on the way in and again on the way out. Buying and later selling $1,000 of a coin costs $10.00 in published fees ($5.00 x 2), plus spreads if you use market orders. A coin needs to rise by more than 1% before a market-order round trip breaks even.
Large orders. Above $100, the fee is a flat 0.5% at every size for clients who are not Active Traders. There is no volume discount for one large trade. A $10,000 market order costs $50.00 in fees plus the spread, while the same order as a limit order costs $50.00 with no spread.
Getting the numbers for your trade. The calculator near the top of this page compares the published fee on any trade size across platforms. Remember that platforms charging only a spread, such as Shakepay and Netcoins, do not appear in its fee table, because no single figure is published for them.
4. Active Trader Crypto Fees
Who qualifies. Wealthsimple gives Active Trader status to clients who place 50 or more manual trades in a calendar month, with a one-month grace period. Active Traders pay no spread on crypto, and their trading fee falls as their 30-day crypto volume rises.
| 30-day crypto volume | Trading fee | Spread | Fee on a $1,000 trade |
|---|---|---|---|
| Under $10,000 | 0.5% | None | $5.00 |
| From $10,000 | 0.35% | None | $3.50 |
| From $100,000 | 0.25% | None | $2.50 |
| From $500,000 | 0.15% | None | $1.50 |
| From $1,000,000 | 0.10% | None | $1.00 |
| From $10,000,000 | 0.05% | None | $0.50 |
| $15,000,000 or more | 0% | None | $0.00 |
What it is worth. Even at the entry level, an Active Trader avoids the spread on market orders, which a regular client pays on top of 0.5%. From $10,000 of 30-day volume, the fee drops to 0.35%. From $100,000 it is 0.25%, close to NDAX’s flat 0.20%.
Other Active Trader benefits. Status also brings phone trades at no charge (a $45 value), phone pickup in under a minute, email replies within four hours and early access to new features.
A caution. Fifty manual trades a month is a lot of trading. Do not trade more to chase a lower fee: frequent trading raises the chance that the CRA treats your gains as business income, which is fully taxable, rather than capital gains. Section 11 explains the difference.
5. Coins, Swaps and DEX Trading
170+ coins. Wealthsimple lists more than 170 coins on its official crypto page. That earns the top coin sub-score in our ranking, which starts at 150. Only Coinbase Canada, with 200+ assets, and Crypto.com, with 400+ available in Canadian dollars, publish larger lists among the authorized platforms we rank.
Coin-to-coin swaps. Wealthsimple offers coin-to-coin swaps in beta. A swap is a disposition of the coin you give up for tax purposes, the same as selling it, so record the value of each swap in Canadian dollars on the day it happens.
DEX trading. Wealthsimple also gives access to decentralized exchange (DEX) trading at a 0.85% trading fee. Network fees are currently covered by Wealthsimple, which says that may change. DEX trading reaches coins outside the main list, but newer and smaller tokens can be thinly traded and highly volatile.
| Platform | Coins published | Coin sub-score |
|---|---|---|
| Crypto.com | 400+ available with CAD | 5 |
| Coinbase Canada | 200+ assets | 5 |
| Wealthsimple Crypto | 170+ | 5 |
| Netcoins | 60+ | 3 |
| Newton | 50+ | 3 |
| Robinhood Canada (Coinsquare) | 50+ | 3 |
| NDAX | Not published | 2.5 |
| Kraken | Not published as a coin count | 2.5 |
| Shakepay | Bitcoin and Ethereum | 1 |
More coins is not the same as better. A long list gives choice, but most trading in practice happens in a handful of large coins. What matters more for most people is the cost of buying the coins they actually want and the safety of where they are held. We do not suggest any coin; this review covers the platform only.
6. Wealthsimple Staking: Coins, Yields and the Share Wealthsimple Keeps
What staking is. Proof-of-stake networks pay rewards to holders who lock coins to help validate transactions. Wealthsimple stakes on your behalf and passes on part of the reward. You can stake ETH, SOL, ADA and DOT.
| Tier | Assets with Wealthsimple | Highest yield shown, net of fees | Share of rewards Wealthsimple keeps | You receive per $100 of rewards |
|---|---|---|---|---|
| Core | From $1 | up to 3.8% | 30% | $70 |
| Premium | $100,000 or more | up to 3.8% | 30% | $70 |
| Generation | $500,000 or more | up to 5% | 15% | $85 |
How the yield works. The yields Wealthsimple shows are up-to figures, set by each network and shown net of its fees. They change with network conditions and are not guaranteed. At a steady 3.8%, $10,000 of a staked coin would earn rewards worth $380 in a year, measured at a constant coin price ($10,000 x 3.8%). At 5%, the same holding would earn $500. Price swings in the coin itself will usually matter far more than the yield.
The share Wealthsimple keeps. Wealthsimple’s fee schedule takes 30% of staking rewards on Core and Premium and 15% on Generation. On $100 of rewards, a Core client receives $70 and a Generation client $85. A validator’s commission is separate: for ETH, it is about 5%. Premium clients pay the same 30% as Core clients, so reaching $500,000 is what lowers the staking fee.
How the share compares. NDAX keeps a 20% administration fee on rewards. Newton keeps a fee from rewards; its share was not stated in the terms we checked.
Risks to know. Staked coins may face waiting periods when you stop staking, depending on the network. Rewards are paid in the coin, so their dollar value moves with its price. Staking rewards are also taxable, as section 11 explains.
7. Deposits, Withdrawals and Crypto Transfers
Funding with Canadian dollars. Deposits by electronic funds transfer cost $0, and there is no account minimum. Instant deposits let you trade before your bank transfer settles: up to $50,000 on Core and up to $250,000 on Premium and Generation. The same instant-deposit limits apply to crypto.
| Action | Wealthsimple charge | Other cost |
|---|---|---|
| EFT deposit of Canadian dollars | $0 | None |
| Instant deposit, Core | $0, up to $50,000 | None |
| Instant deposit, Premium and Generation | $0, up to $250,000 | None |
| Instant withdrawal to a debit card | 2.5% | None |
| Crypto transfer in | No Wealthsimple fee listed | Network fee set by the blockchain |
| Crypto transfer out | No Wealthsimple fee listed | Network fee set by the blockchain |
Moving coins out. Wealthsimple supports transfers of crypto in and out to outside wallets. It lists no transfer fee of its own, but every transfer pays a network fee set by the blockchain, which changes with network traffic. Always send a small test amount first and double-check the network and address. A transfer sent on the wrong network can be lost.
Withdrawing cash. Selling crypto puts Canadian dollars in your crypto account. Moving that cash out instantly to a debit card costs 2.5% at every tier. On $1,000, that is $25.00 ($1,000 x 2.5%). Check the cost and timing of a standard bank withdrawal in the app before you choose the instant option.
Why withdrawals matter for the score. Our funding sub-score gives 5 only when both deposits and withdrawals are free in Canadian dollars. Wealthsimple scores 4.0 because its deposits are free but its published withdrawal terms are incomplete. Shakepay and Newton score 5 here.
See how Wealthsimple’s crypto fees, coins and safety compare with every authorized platform we rank.
8. The $30,000 Purchase Limit for Most Investors
The rule. Canadian securities regulators cap how much crypto most retail investors can buy on a registered platform. At Wealthsimple, an investor who is not an eligible crypto investor can buy up to $30,000 in net acquisition cost in any 12-month period. An eligible crypto investor can buy up to $100,000, and an accredited investor has no limit. These limits come from Wealthsimple’s exemptive relief decision of December 2025.
| Investor type | Limit on net acquisition cost | Period | Average a month |
|---|---|---|---|
| Not an eligible crypto investor | $30,000 | Any 12 months | $2,500 |
| Eligible crypto investor | $100,000 | Any 12 months | $8,333 |
| Accredited investor | No limit | Not applicable | Not applicable |
What net acquisition cost means. The limit counts what you pay to buy crypto, less what you receive from selling it, over the 12 months. Selling coins frees up room under the cap.
Where it applies. The limit does not apply in every province. The December 2025 decision sets out where it applies. Eligible and accredited status depend on income and asset tests set by securities law.
Why the limit exists. The cap is an investor-protection rule for retail clients buying a volatile asset through a registered platform. If you find yourself close to it, that is a good moment to review how much of your savings sits in one asset class.
Where recurring buys fit. Recurring buys count toward the limit in the same way as manual buys. A $500 weekly recurring buy adds $26,000 over a year ($500 x 52), close to the $30,000 cap, so check the total before you set a large schedule.
9. Is Wealthsimple Crypto Safe? Regulation, Custody and CIPF
Regulated as a dealer. Wealthsimple Crypto is offered by Wealthsimple Investments Inc., an investment dealer and a member of the Canadian Investment Regulatory Organization (CIRO). It has been a registered crypto trading platform since January 1, 2024, when Wealthsimple Digital Assets Inc., formerly a restricted dealer, was amalgamated into it. Wealthsimple Investments Inc. is on the CSA list of authorized crypto trading platforms (the CSA page was last refreshed September 18, 2025) and the Ontario Securities Commission’s list of registered crypto trading platforms. Its OSC exemptive relief was renewed in December 2025 for four years.
Where the coins are held. Most client crypto is kept in offline cold storage with regulated custodians, which Wealthsimple does not name, and it is held in trust for clients. Wealthsimple says each custody partner carries $75 million or more in cold-storage coverage. Coins in hot wallets, which are online for faster trading, are covered through Coincover, though the amount is not stated.
| Item | Protection | What it does not cover |
|---|---|---|
| Crypto assets | Held in trust; mostly cold storage; custodians with $75 million or more in cold-storage coverage each | Not covered by CIPF or CDIC; price falls |
| Hot-wallet crypto | Coincover (amount not stated) | Not covered by CIPF or CDIC |
| Cash in the crypto account | CIPF, up to $1,000,000 in the general category | Market losses |
| Your login | Passkey users reimbursed for all direct losses from unauthorized activity | Applies to passkey users |
The CIPF gap. CIPF protects eligible property held by a member firm if the firm becomes insolvent. It does not cover crypto assets at any platform, including Wealthsimple. Cash sitting in your crypto account is covered, because it is not a crypto asset. If you hold a large crypto balance, the trust arrangement and custodian coverage are what stand between you and a platform failure, not CIPF.
The firm behind it. Wealthsimple reported $155.6 billion in assets under administration at June 30, 2026. As of December 18, 2023, a majority of the voting securities of Wealthsimple Financial Corp., the parent of Wealthsimple Investments Inc., were controlled by Power Corporation of Canada subsidiaries and affiliates. Our Is Wealthsimple safe? guide covers CIPF, CDIC and each entity in detail.
Your part. You control part of the risk yourself. Use a passkey, which also qualifies you for Wealthsimple’s reimbursement of direct losses from unauthorized activity, and be wary of anyone asking you to send coins to an outside wallet.
10. Accounts, Tiers and Offers for Crypto Investors
Non-registered only. Crypto at Wealthsimple sits in a non-registered crypto account. You cannot hold coins in an RRSP, TFSA or FHSA there, so realized gains and staking rewards are taxable. If you want crypto exposure inside a registered account, the usual route is an exchange-traded fund that holds crypto, bought in a self-directed account. That is a different product with its own management fee, and naming the structure is not a recommendation. Our Wealthsimple TFSA review and TFSA guide explain what a TFSA can hold.
Crypto counts toward your tier. Crypto balances count toward Premium ($100,000) and Generation ($500,000), along with chequing, managed, self-directed and registered accounts. Reaching Generation cuts the staking share Wealthsimple keeps from 30% to 15% and raises the highest staking yield shown from 3.8% to 5%. The trading fee stays at 0.5% for every tier.
| Feature | Core | Premium | Generation |
|---|---|---|---|
| Assets needed | $1 | $100,000 | $500,000 |
| Crypto trading fee | 0.5% plus spread | 0.5% plus spread | 0.5% plus spread |
| Highest staking yield shown | up to 3.8% | up to 3.8% | up to 5% |
| Share of staking rewards kept by Wealthsimple | 30% | 30% | 15% |
| Instant deposit limit | $50,000 | $250,000 | $250,000 |
| Support | Standard | Priority phone | Priority phone and email |
The 1% transfer match. Crypto accounts are eligible for Wealthsimple’s 1% Match, which pays 1% on the first $2,000,000 transferred in, up to $20,000, when you move $25,000 or more within 30 days of registering. The match is paid in 24 equal monthly payments to chequing, and a 20% withdrawal buffer applies for 730 days. The terms took effect May 4, 2026, with no end date stated. Our Wealthsimple Chequing review covers the account the payments land in.
One app for the rest. The same login holds Wealthsimple Trade for stocks and ETFs, managed portfolios, chequing and tax filing. Our Wealthsimple Trade review and guide to Wealthsimple tiers cover those products and the full list of tier perks.
11. Tax on Crypto in Canada: What Wealthsimple Users Need to Know
Crypto is not tax-free money. For tax purposes, the Canada Revenue Agency treats crypto as property, not as currency. Every disposition has to be reported. A disposition includes selling a coin for dollars, trading one coin for another, swapping, using crypto to pay for something and giving it away.
Capital gain or business income. If you hold crypto as an investment, a gain is usually a capital gain. If your activity looks like a business, for example frequent short-term trading with the intent to profit from price moves, the gain can be business income, which is fully taxable. The answer depends on your facts, not on the platform you use. Half of a capital gain is included in income for 2026, as it was for 2001 to 2025.
Your cost base. Your adjusted cost base (ACB) for a coin is the average cost of all identical coins you hold, including the fees you paid to buy them. Fees paid when you sell reduce your proceeds. With a 0.5% fee on each trade at Wealthsimple, both adjustments are worth recording: on a $1,000 buy, the $5.00 fee raises your cost base to $1,005.
| Event | Disposition? | What to record |
|---|---|---|
| Buy crypto with Canadian dollars | No | Cost plus the trading fee, added to your ACB |
| Sell crypto for Canadian dollars | Yes | Proceeds less the selling fee, and the ACB of the coins sold |
| Swap one coin for another | Yes | Fair market value in Canadian dollars on the day of the swap |
| Receive staking rewards | Generally income when received | Value in Canadian dollars on the day received; that value becomes the cost of those coins |
| Transfer to your own outside wallet | No | Network fee paid and the wallet address |
| Spend or gift crypto | Yes | Fair market value on the day |
Losses. A capital loss on crypto can offset capital gains. Net capital losses can be carried back three years or forward indefinitely. The superficial loss rule can also apply: if you, or a person affiliated with you, buy the identical coin within 30 calendar days before or after selling at a loss and still hold it 30 days after, the loss is denied.
Keep records. Record the date, the Canadian-dollar value, the fee and the purpose of every trade, swap, reward and transfer. If you use more than one platform or wallet, your ACB pools across all of them for identical coins. Our capital gains tax calculator works out the tax on a gain at your income level, and our Wealthsimple Tax review covers filing the return itself.
Worked out your gain? See what it means at your income level, province by province.
12. Wealthsimple Crypto Pros and Cons
How to read this list. Each point comes from Wealthsimple’s published crypto fee schedule and terms as checked on October 22, 2026, and from our crypto platform scores. Some cons, such as the 0.5% fee, matter less if you buy mainly through recurring buys.
Pros
- Top crypto score of the nine authorized platforms we rank: 4.6 / 5
- No fee and no spread on recurring buys
- No spread on limit orders
- 170+ coins, plus coin-to-coin swaps and DEX trading
- Staking on ETH, SOL, ADA and DOT, up to 5% on Generation
- Transfers in and out to outside wallets, with no Wealthsimple transfer fee listed
- CIRO dealer member and registered crypto trading platform
- Coins held in trust, mostly in cold storage
- Crypto balances count toward Premium and Generation
Cons
- 0.5% fee plus a spread on market orders, against 0.20% flat at NDAX
- $1 surcharge on orders under $100
- Spread size not stated in the fee schedule
- Crypto assets not covered by CIPF or CDIC
- Wealthsimple keeps 30% of staking rewards on Core and Premium
- No crypto in a TFSA, RRSP or FHSA
- 2.5% fee on instant withdrawals to a debit card
- Custodians are not named
The balance. For a regular buyer who uses recurring buys and holds for the long term, the pros clearly win: no trading cost on the way in, a large coin list and a regulated dealer. For someone placing frequent one-off market orders, the 0.5% fee plus spread adds up quickly, and a lower-fee platform or Active Trader status changes the picture.
13. Wealthsimple Crypto Compared With Other Authorized Platforms
The ranking. We rank nine platforms that appear on the CSA list of authorized crypto trading platforms, alongside the brokers and apps in our platform comparison hub. Scores weigh fees (35%), regulation (20%), coins (15%), features (15%) and funding (15%). The table shows each platform’s published fee, coin list, staking, withdrawals to outside wallets and CIPF status.
| Rank | Platform | Score | Published trading fee | Coins | Staking | Withdraw to outside wallets | CIRO and CIPF |
|---|---|---|---|---|---|---|---|
| 1 | Wealthsimple Crypto | 4.6 / 5 | 0.5% plus spread; no spread on limit orders | 170+ | ETH, SOL, ADA, DOT | Yes | CIRO dealer; CIPF member; crypto not covered |
| 2 | NDAX | 4.3 / 5 | 0.20% flat | Not published | Yes; 20% fee on rewards | Yes | On CIPF’s member list |
| 3 | Newton | 3.9 / 5 | up to 1.15% on BTC, ETH and USDC; up to 1.60% on others | 50+ | Yes; fee from rewards | Yes | CIRO dealer; CIPF member; crypto not covered |
| 4 | Coinbase Canada | 3.6 / 5 | Varies by payment method and size; spread included | 200+ | Yes | Yes | Restricted dealer; not on CIPF’s list |
| 5 | Crypto.com | 3.3 / 5 | No app fee up to Level Up limits; spread may apply | 400+ | Yes; Canadian assets not listed | Not described | Restricted dealer; not on CIPF’s list |
| 6 | Netcoins | 3.3 / 5 | No separate fee; spread not disclosed | 60+ | Yes | Yes | Not on CIPF’s list |
| 7 | Shakepay | 3.1 / 5 | No commission; spread not disclosed | Bitcoin and Ethereum | Not mentioned | Yes | CIRO member; on CIPF’s list |
| 8 | Robinhood Canada (Coinsquare) | 3.0 / 5 | Not published on the pages checked | 50+ | Coming soon | Yes | CIRO dealer; CIPF member; crypto not covered |
| 9 | Kraken | 2.4 / 5 | 1% on app instant buys; 0.80% Kraken Pro taker | Not published as a coin count | Not confirmed for Canada | Not stated | Restricted dealer; not on CIPF’s list |
Wealthsimple vs NDAX. NDAX charges a flat 0.20% on every buy and sell, so a $1,000 trade costs $2.00 against $5.00 at Wealthsimple before Wealthsimple’s spread. NDAX deposits by Interac e-Transfer and wire are free, but withdrawals cost $1.50 by e-Transfer and $4.99 by EFT. NDAX does not publish a coin count, and its staking keeps 20% of rewards. Wealthsimple wins on coin choice, regulation and recurring buys with no fee.
Wealthsimple vs Newton. Newton charges 1.00% to 1.15% on bitcoin, ether and USDC and up to 1.60% on other coins, so a $1,000 trade can cost up to $11.50, more than double Wealthsimple’s $5.00 fee. Newton offers free CAD funding by e-Transfer and a slow lane for crypto withdrawals with no fee, while its fast lane costs $10 plus the network fee. That earns it a higher funding score.
Wealthsimple vs spread-only platforms. Shakepay and Netcoins charge no separate fee but build a spread of undisclosed size into the price. You cannot compare them on a published number, which is why they score 2.5 on fees in our rubric. Shakepay offers only bitcoin and ether.
Coinbase, Crypto.com and Kraken. All three are restricted dealers that are not on CIPF’s member list. Coinbase and Crypto.com publish larger coin lists than Wealthsimple, but their fees vary by payment method or membership level. Our best crypto platforms in Canada page has a full card for every platform.
14. Who Wealthsimple Crypto Suits and Who Should Look Elsewhere
Regular buyers. If you add a fixed amount every week or month, recurring buys with no fee or spread make Wealthsimple one of the lowest-cost ways to build a crypto position in Canada.
People who already use Wealthsimple. Crypto sits in the same app as your TFSA, chequing and tax return, and crypto balances help you reach Premium or Generation.
Stakers with large balances. At Generation ($500,000 in assets), Wealthsimple keeps only 15% of staking rewards and shows yields up to 5%.
Safety-first investors. A CIRO dealer member and registered crypto trading platform, with coins held in trust and mostly in cold storage, is a strong set-up among the authorized platforms, even though crypto is outside CIPF.
Look elsewhere for frequent one-off trades. At 0.5% plus a spread, market orders cost more than at NDAX’s 0.20%. Unless you reach Active Trader status, a heavy trader pays more at Wealthsimple.
Look elsewhere for crypto in a TFSA. Wealthsimple does not allow coins in registered accounts. If tax-sheltered exposure matters more to you than holding coins directly, a self-directed account holding a crypto fund is the alternative structure. Our best investing apps ranking compares the platforms that offer self-directed TFSAs, and our how to invest in Canada guide explains how crypto fits a wider plan. New investors can start with our investing for beginners hub.
What You Need and What You Get With Wealthsimple Crypto
What you need to open a crypto account
- Government-issued photo ID and your social insurance number
- Your home address and contact details for identity checks
- A Canadian bank account to fund deposits by EFT
- Answers to the platform’s crypto knowledge and risk questions
- Proof of income or assets if you want the higher eligible or accredited limits
- A passkey set up on your phone for login
- For transfers in: the exact network and wallet address details
- A simple record-keeping sheet for your cost base
What you get from Wealthsimple Crypto
- 170+ coins at a 0.5% fee, with no spread on limit orders
- Recurring buys with no fee and no spread
- Staking on ETH, SOL, ADA and DOT
- Coin-to-coin swaps (beta) and DEX trading at 0.85%
- Transfers in and out to outside wallets, with no Wealthsimple fee listed
- Instant deposits up to $50,000 on Core and $250,000 on Premium and Generation
- A CIRO dealer member and registered crypto trading platform
- Coins held in trust, mostly in cold storage
- Crypto balances that count toward Premium and Generation
How Buying Crypto at Wealthsimple Works
- Open the crypto account. Add a crypto account to your Wealthsimple profile and complete the questions the platform asks about crypto risk and your experience.
- Fund it. Deposit Canadian dollars by EFT at no charge. An instant deposit lets you trade before the transfer settles, up to your tier’s limit.
- Choose how to buy. Set a recurring buy for regular amounts with no fee or spread, or place a limit order for a one-off purchase to avoid the spread.
- Decide on staking. If you hold ETH, SOL, ADA or DOT, choose whether to stake, knowing Wealthsimple keeps 30% of rewards on Core and Premium and 15% on Generation.
- Record every event. Log the date, Canadian-dollar value and fee of each buy, sell, swap and reward to keep your adjusted cost base accurate.
- Sell or transfer when ready. Sell with a limit order to avoid the spread, or move coins to your own wallet after a small test transfer.
- Report at tax time. Report each disposition and your staking income on your return for the year.
10 Strategies to Cut Your Wealthsimple Crypto Fees
1. Buy through recurring buys
Recurring buys carry no fee and no spread. Buying $50 a week this way costs $0 in trading costs over a year, against $65 in published fees for the same 52 purchases placed by hand, before spreads.
2. Use limit orders for one-off trades
A limit order pays the 0.5% fee but no spread. On a market order, the spread adds a cost you cannot see in advance. Set your limit close to the current price if you want the order to fill quickly.
3. Never buy under $100 by hand
The $1 surcharge turns a $50 order into a 2.5% cost. Either set the amount up as a recurring buy or wait until you have $100 or more for one manual order.
4. Price in the round trip
Every manual trade pays 0.5% on the way in and 0.5% on the way out. A coin bought and sold by market order must rise by more than 1% before you break even, so trade less, not more.
5. Skip the instant withdrawal fee
Moving cash out instantly to a debit card costs 2.5%, or $25.00 on $1,000. Plan withdrawals ahead and check the cost and timing of a standard bank withdrawal in the app.
6. Count your whole tier
All your Wealthsimple accounts count toward Generation at $500,000, where the staking share Wealthsimple keeps falls from 30% to 15%. On $1,000 of staking rewards, that is $150 more for you.
7. Test every outside transfer
Send a small amount first and confirm it arrives before you move the rest. Wealthsimple lists no transfer fee, but each send pays a blockchain network fee, and a transfer on the wrong network can be lost.
8. Track your cost base from day one
Add each purchase fee to your cost base and subtract each selling fee from proceeds. At 0.5% a trade, those adjustments lower your taxable gain, but only if you can show them.
9. Mind the 30-day loss window
If you sell a coin at a loss and buy the identical coin back within 30 calendar days, the superficial loss rule can deny the loss. Wait out the window or accept the gain or loss as it stands.
10. Watch the $30,000 limit
Most investors can buy $30,000 in net acquisition cost in any 12 months. Large recurring buys reach it quickly: $500 a week is $26,000 a year. Check your total before you raise a schedule.
Illustrative Example: One Year of Crypto Costs at Wealthsimple
This example is hypothetical. Daniel is a Core client. He buys $50 of one coin every week for a year and also makes one larger purchase of $1,000, which he later sells for $1,500. He uses limit orders for the larger trades, so no spread applies, and we leave out network fees and price changes on the weekly buys.
- Weekly buys by recurring buy: ($50 x 52 = $2,600) invested, with $0 in fees and no spread.
- The same weekly buys placed by hand as market orders: ($50 x 0.5% = $0.25) plus the $1 surcharge, or $1.25 each, so ($1.25 x 52 = $65.00) a year, plus spreads.
- The $1,000 limit-order buy: fee ($1,000 x 0.5% = $5.00), so his adjusted cost base is ($1,000 + $5.00 = $1,005.00).
- The $1,500 limit-order sale: fee ($1,500 x 0.5% = $7.50), so his proceeds are ($1,500 – $7.50 = $1,492.50).
- His capital gain: ($1,492.50 – $1,005.00 = $487.50). At the 2026 inclusion rate of one half, the taxable part would be ($487.50 ÷ 2 = $243.75).
- The same two trades at NDAX’s flat 0.20%: buy fee ($1,000 x 0.20% = $2.00) and sell fee ($1,500 x 0.20% = $3.00), or $5.00 in total, against ($5.00 + $7.50 = $12.50) at Wealthsimple, a difference of ($12.50 – $5.00 = $7.50).
- Daniel’s total published trading fees for the year at Wealthsimple: $12.50, because his weekly buys ran as recurring buys.
Run your own trade size and number of trades through the crypto fee calculator near the top of this page, and use the capital gains tax calculator to see the tax at your income for the year you sell.
Wealthsimple Crypto Review FAQ
What are Wealthsimple’s crypto fees?
Under the fee schedule dated September 24, 2026, Wealthsimple charges a flat 0.5% on crypto trades for every tier, plus a spread on market orders. Limit orders carry no spread. Orders under $100 add a $1 surcharge. Recurring buys carry no fee or spread, and Active Traders pay from 0.5% down to 0% by 30-day volume, with no spread.
Is Wealthsimple crypto safe?
Wealthsimple Crypto is offered by Wealthsimple Investments Inc., a CIRO dealer member and registered crypto trading platform since January 1, 2024. Most coins sit in offline cold storage with regulated custodians, held in trust, and each custody partner carries $75 million or more in cold-storage coverage. Crypto is still volatile, and crypto assets are not covered by CIPF or CDIC.
Is crypto at Wealthsimple covered by CIPF?
No. CIPF does not cover crypto assets at Wealthsimple or any other platform. Cash held in your crypto account is covered by CIPF up to $1,000,000 in the general category, because it is not a crypto asset. Your coins rely on being held in trust with custodians and on those custodians’ coverage, not on CIPF, if the platform fails.
How does Wealthsimple staking work?
You can stake ETH, SOL, ADA and DOT. Wealthsimple shows yields of up to 3.8% a year on Core and Premium and up to 5% on Generation, net of fees. It keeps 30% of rewards on Core and Premium and 15% on Generation, and a validator’s commission, about 5% for ETH, is separate. Yields are set by each network and can change.
How many coins does Wealthsimple offer?
Wealthsimple lists 170+ coins on its crypto page as of October 22, 2026. It also offers coin-to-coin swaps in beta and decentralized exchange (DEX) trading at a 0.85% fee, with network fees currently covered by Wealthsimple. Among the nine authorized platforms we rank, only Coinbase Canada and Crypto.com publish larger lists.
Can I transfer crypto out of Wealthsimple?
Yes. Wealthsimple supports crypto transfers in and out to outside wallets and lists no transfer fee of its own. Each transfer pays a network fee set by the blockchain, which changes with traffic. Send a small test amount first and check the network and address, because a transfer sent on the wrong network can be lost.
Can I hold crypto in a TFSA at Wealthsimple?
No. Crypto at Wealthsimple sits in a non-registered crypto account only, not a TFSA, RRSP or FHSA. Gains and staking rewards are therefore taxable. If you want crypto exposure inside a registered account, the alternative structure is an exchange-traded fund that holds crypto, bought in a self-directed account, which carries its own management fee.
Is there a limit on how much crypto I can buy at Wealthsimple?
Yes, for most investors. If you are not an eligible crypto investor, you can buy up to $30,000 in net acquisition cost in any 12 months. Eligible crypto investors can buy up to $100,000, and accredited investors have no limit. The limit does not apply in every province, under Wealthsimple’s December 2025 exemptive relief decision.
Do recurring crypto buys have fees at Wealthsimple?
No trading fee and no spread apply to recurring or automated crypto buys at Wealthsimple. Other costs can still arise: network fees if you later move coins to an outside wallet, the 0.5% fee when you sell, and 2.5% if you withdraw the cash instantly to a debit card. Recurring buys also count toward the $30,000 purchase limit.
Is Wealthsimple cheaper than NDAX for crypto?
Not for one-off trades. NDAX charges 0.20% flat, so a $1,000 trade costs $2.00, against $5.00 at Wealthsimple plus a spread on market orders. Wealthsimple is cheaper for regular buyers who use recurring buys, which carry no fee or spread. Wealthsimple also scores higher overall, 4.6 / 5 against 4.3 / 5, on coins and regulation.
How is crypto taxed in Canada?
The CRA treats crypto as property. Selling, swapping, spending or gifting it is a disposition you must report. Gains are usually capital gains if you invest, or fully taxable business income if your activity is a business. Half of a capital gain is taxable in 2026. Staking rewards are generally income when received. Keep records of every trade and fee.
Is Wealthsimple a registered crypto trading platform?
Yes. Wealthsimple Investments Inc. has been a registered crypto trading platform since January 1, 2024, when Wealthsimple Digital Assets Inc. was amalgamated into it. It is an investment dealer and CIRO member, appears on the CSA list of authorized crypto trading platforms, and had its OSC exemptive relief renewed in December 2025 for four years.
Ready to compare Wealthsimple with every authorized crypto platform, ranked by our published score?
How we check figures and correct errors is set out in our editorial standards. For every other Wealthsimple product, start with our complete Wealthsimple review, see our Wealthsimple managed investing review, or browse all broker, bank and platform reviews.
Figures on this page were checked against each provider’s published pricing on October 22, 2026. We update this page when a figure changes.
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Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.
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- CFA charter, CFA Institute (awarded 2023)
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