If you want to buy Bitcoin or Ethereum in Canada without dealing with sketchy offshore exchanges, Wealthsimple Crypto is the most straightforward option available. It's regulated, it lives inside an app millions of Canadians already use, and getting started takes about 10 minutes.
Here's our full review for 2026.
What is Wealthsimple Crypto?
Wealthsimple Crypto is the cryptocurrency trading feature built into the Wealthsimple app. It lets you buy, sell, and hold 50+ digital assets — including Bitcoin and Ethereum — directly alongside your stocks, ETFs, and registered accounts, all in one place.
Is Wealthsimple Crypto Regulated?
Yes — and this matters. Wealthsimple Crypto is registered with Canadian securities regulators, making it one of the only fully regulated crypto platforms in Canada. That means it must meet strict standards around how your assets are held, what disclosures are required, and how disputes are handled.
Unregulated offshore exchanges offer no such protections. If they go down — as several major exchanges have — your funds may be unrecoverable. With Wealthsimple, you're dealing with a Canadian company that has been operating since 2014 and is accountable to Canadian law.
Buying Bitcoin on Wealthsimple
Bitcoin (BTC) is the most widely held cryptocurrency in the world, and Wealthsimple makes it straightforward to buy:
- Search "Bitcoin" or "BTC" in the Crypto tab
- Enter a dollar amount (you can buy fractional Bitcoin — no need to buy a whole coin)
- Confirm the trade — it executes immediately
Wealthsimple supports instant buys up to a limit, meaning you don't have to wait for your bank transfer to fully settle before your BTC purchase goes through.
Buying Ethereum on Wealthsimple
Ethereum (ETH) is the second-largest cryptocurrency by market cap and the backbone of most decentralized applications and NFT activity. Buying ETH on Wealthsimple works identically to buying Bitcoin — search, enter amount, confirm.
Both BTC and ETH can be held in your Wealthsimple account long-term or traded at any time during market hours.
Fees: What Does Wealthsimple Crypto Cost?
Wealthsimple charges a spread of approximately 1.5–2% on crypto trades, built into the buy and sell price rather than shown as a separate commission line. There is no account fee or monthly fee for holding crypto.
For comparison, Coinbase charges up to 3.99% on card purchases and Binance (not available to Canadians) charges 0.1% maker/taker but requires navigating a far more complex interface.
Wealthsimple isn't the cheapest option for experienced traders, but for most Canadians buying BTC or ETH periodically, the simplicity and regulatory protection are worth the spread.
Security: How Safe is Your Crypto?
Wealthsimple stores the majority of crypto assets in cold storage — offline hardware wallets that cannot be accessed remotely. The platform uses multi-factor authentication and device verification to protect accounts.
One important note: crypto assets on Wealthsimple are not covered by CIPF or CDIC. Those protections apply to investment accounts and cash deposits, not crypto. This is true of all crypto platforms — it's not a Wealthsimple-specific limitation.
Can You Transfer Crypto Out of Wealthsimple?
Yes. Wealthsimple supports withdrawals to external wallets with no withdrawal fee. This is important if you prefer to self-custody your Bitcoin or Ethereum in a hardware wallet like a Ledger or Trezor.
Wealthsimple Crypto vs. Other Canadian Options
| Wealthsimple | Shakepay | Newton | |
|---|---|---|---|
| Regulated | ✅ Yes | ✅ Yes | ✅ Yes |
| # of coins | 50+ | ~20 | ~60 |
| Spread | ~1.5–2% | ~1.5% | ~0.5–1% |
| Stock trading | ✅ Yes | ❌ No | ❌ No |
| Registered accounts | ✅ Yes | ❌ No | ❌ No |
| Sign-up bonus | $25 | $20 | $25 |
Wealthsimple's main advantage is integration — your crypto, stocks, TFSA, and cash account all in one app. If you're already a Wealthsimple user, there's no reason to use a separate platform for crypto.
Who is Wealthsimple Crypto Best For?
Wealthsimple Crypto is the best choice for:
- Beginners who want a simple, trusted way to buy BTC or ETH without learning a complex exchange interface
- Existing Wealthsimple users who want crypto alongside their other accounts
- Long-term holders who buy periodically and don't need sub-1% trading fees
- Canadians who value regulation and don't want to deal with offshore platforms
It's less suited to active traders who need advanced order types, leverage, or the lowest possible fees.
How to Get Started
- Sign up at Wealthsimple with referral code US0EBW
- Complete identity verification (takes about 5 minutes)
- Fund your account via Interac e-Transfer or bank transfer
- Open the Crypto tab and search for Bitcoin or Ethereum
- Enter your amount and confirm
Your $25 referral bonus is credited after your first $100 deposit — which you can put straight into BTC or ETH if you like.
Our Verdict
Wealthsimple Crypto is the most beginner-friendly, regulated way to buy Bitcoin and Ethereum in Canada. The fees are slightly higher than specialist exchanges, but the simplicity, security, and all-in-one integration make it the right choice for most Canadians.
Ready to buy your first Bitcoin or Ethereum? Sign up at Wealthsimple with code US0EBW and get a $25 bonus when you deposit $100.