You can instantly deposit up to $50,000 CAD without waiting for the transaction to settle, and you can transfer money between your Wealthsimple accounts from the app. You can fund your account by debit visa or debit mastercard, eTransfer, direct deposit, banker wire, linking a Canadian bank account or by transferring in a supported cryptocurrency you already own to start trading. If you have a You can also transfer in certain cryptocurrencies from other wallets too. However, they do offer storage for you if you prefer. Wealthsimple Trade now allows you to transfer certain cryptocurrencies off the platform to your own private wallet if you want to store crypto yourself. On the other hand, an operation fee of 1.5% to 2% is applied to every trade.
Generally, the Wealthsimple Trade platform does not charge fees on withdrawals and deposits or on the opening and closing of your account. In total, the platform allows you to buy and sell over 50 cryptocurrencies. Since then, the crypto exchange merged with its original Wealthsimple Trade platform, where you can now buy stocks, ETFs, options, and crypto all in one place. In 2020, the Toronto-based fintech company launched Wealthsimple Crypto, its cryptocurrency trading platform. Wealthsimple has made a name for itself with its robo-advisor, which allowed many Canadians to invest online for fewer fees than traditional brokerages. Wealthsimple Trade: Best crypto exchange for Stocks, ETFs, and cash accounts Read more about the CoinSmart Canada Story: The Other Side of Fear. If you trade between cryptocurrencies that are not Bitcoin, called a double trade, the commission goes up to 0.3%. When it comes to trading fees, this crypto exchange charges a 0.2% commission when you buy or sell crypto with Canadian dollars, or when you trade Bitcoin with other coins.
It is also possible to make withdrawals in cryptocurrencies. The transaction fee is 1%, with a processing time ranging from 1 to 5 days. On the one hand, you have electronic funds transfers and bank wires. Trading fees vary between 0.20% and 0.30% of the amounts traded.ĭifferent withdrawal methods are also available. For these transactions, the processing is done on the same day, with 0% fees except on eTransfers over $1,999, which cost a 1.5% fee. You can also choose between bank transfers, eTransfers or bank wire. Funding your account this way is instant but the fees can be up to 6.75% of the deposit amount. Not only is Coinsmart fully regulated, but it's also a publicly traded company on the NEO stock exchange, which makes the company's financial information and business operations transparent to the public.Ĭurrently, the Coinsmart platform provides 16 different cryptocurrencies to choose from and four deposit methods, including credit and debit cards. Now that the acquisition is complete, Coinsquare is the largest crypto exchange in Canada and will soon merge with WonderFi sometime in mid-2023. In September 2022, Coinsquare announced an agreement to acquire Coinsmart. Coinsmart: Best crypto exchange for transparency Read more about how Bitbuy Technologies Inc. Deposit options include bank transfers and Interac eTransfers, which are near-instantaneous. This crypto trading platform does not support payments in US dollars, euros or pounds sterling. Trading on Bitbuy is limited to Canadian dollar (CAD) deposits from local banks and financial institutions. All assets held by BitGo are completely covered by an insurance policy, giving customers peace of mind when using Bitbuy.īitbuy is only available in Canada and currently offers 25 different cryptocurrencies. The latter is a company specializing in the storage of digital assets. In accordance with Canadian regulations, Bitbuy’s cold-stored assets are secured by BitGo Trust Company. The platform offers a reliable, convenient, and secure way to buy various cryptocurrencies. Bitbuy is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as well as the Ontario Securities Commission (OSC).
In March of 2022, it was acquired by Kevin O’Leary-backed WonderFi Technologies Inc. Bitbuy is a Canadian cryptocurrency trading site created in 2016.
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