Wealthsimple Crypto Review 2026: Convenience at 2%
The widest coin selection of any Canadian-native platform, sitting inside an app millions already use. A buy under $1,000 costs 2% and $1,000 or more costs 1.5%, and it hands over 30% of your staking rewards — the two most expensive numbers on this site.
By the CryptoNorth Team
What Wealthsimple Crypto Is
Wealthsimple added crypto to its investing app in 2020, and its pitch has never really been about price. It is about not having to open another account. Your Bitcoin sits beside your TFSA, your RRSP and your stocks, in an interface you already know, with money you have already moved in[3].
For a lot of Canadians that convenience is worth paying for. This review is mostly about establishing exactly how much you are paying for it, because the number is larger than most people assume and it is not displayed at the point of sale.
Regulation and Security
Wealthsimple's regulatory standing is the strongest argument in its favour:
- CIRO full investment dealer, and the first crypto platform authorized in Canada[1]
- FINTRAC registered, available in all provinces and territories
- External wallet withdrawals supported — you can move coins off the platform[1]
- Established Canadian institution managing tens of billions across its products
The withdrawal point deserves emphasis, because it used to be the standard criticism of this platform. For years Wealthsimple Crypto was a walled garden: you could buy, but you could not take your coins anywhere. That has changed, and any review still repeating the old limitation is out of date. As always, crypto held on any platform is not CDIC insured (the fund that protects bank deposits), and CIPF coverage — the Canadian Investor Protection Fund, which repays your cash if the firm fails — applies to cash, never to the crypto itself.
The Fees, and Who Actually Pays Them
Wealthsimple runs two fee structures and charges you the lower of the two: a baseline set by account tier (Core 2%, Premium at $100k, Generation at $500k) and a 30-day volume table. So Core can reach 1% on $10k of 30-day volume with no balance requirement, and 0.5% on $100k of volume — without ever holding $500k[1][2]:
The cheapest rate goes to the people who need it least. If you have half a million dollars at Wealthsimple you trade at 0.5%, and you can reach the same rate on $100,000 of 30-day volume; if you are starting out with $500 you pay four times that. Almost every Canadian buying their first crypto is on the Core tier paying 2%, which is ten times what NDAX charges and four times Bitbuy.
There are two real exemptions worth knowing: USDC trades are free, and recurring buys funded by direct deposit are free[1]. If you are dollar-cost averaging out of your paycheque, that second one genuinely removes the trading fee, and it is the single best way to use this platform.
The 30% Staking Commission
Wealthsimple offers staking on assets including ETH and SOL. It also takes 30% of the rewards before they reach you, on both the Core and Premium tiers[1][2].
After the cut, reported net yields come to roughly 4.15% on ETH and 4.5% on SOL[1]. This is the highest staking commission of any platform on this site — NDAX takes 20%, and running your own validator costs you nothing but effort. Sources disagree on the Generation-tier rate, quoting both 15% and 25%, so confirm it with Wealthsimple directly if you are in that bracket.
To be fair, every custodial staking service takes a cut, and Wealthsimple handles the validator selection and technical risk for you. But 30% is steep, and combined with a purchase fee of 1.5% to 2% it means a Core-tier client staking ETH is paying twice before seeing a dollar of yield. Staking rewards are also taxable income in Canada at their CAD value on the day received — see our tax guide.
Coins and Integration
Wealthsimple lists more than 140 cryptocurrencies[1][2], the widest selection of any Canadian-native platform here — more than double Newton or NDAX. USDT is a notable absence; USDC is the stablecoin on offer, and it trades free.
The integration argument is real and hard to quantify. Holding crypto next to your RRSP and TFSA in one app, with one login and one tax slip package, removes friction that pushes plenty of people out of crypto entirely. Whether that convenience is worth 1.5% to 2% per trade is a personal calculation, but it should be a conscious one.
Pros and Cons
Frequently Asked Questions
Wealthsimple bands the rate by the size of the trade. On Core, a buy under $1,000 costs 2%, $1,000 to $9,999 costs 1.5%, and $10,000 to $49,999 costs 1%, falling further above that. Trading a lot in the previous 30 days can reduce it again, and higher account tiers (Premium at $100k, Generation at $500k) start lower. A first-time buyer putting in $1,000 pays 1.5%; putting in $500 pays 2%.
Two ways. USDC trades are free, and recurring buys funded by direct deposit are free. If you set up a scheduled purchase out of your pay, you can hold crypto at Wealthsimple without paying that fee on those buys. This is the cheapest legitimate way to use the platform and it is not well advertised.
30% on the Core and Premium tiers, which is the highest commission of any platform we cover. Reported net yields land around 4.15% for ETH and 4.5% for SOL after the cut. Sources disagree on the Generation-tier rate, quoting both 15% and 25%, so verify directly if that applies to you.
Yes. External wallet withdrawals are supported, which was not true for the platform’s first few years. If you are reading an older review that says Wealthsimple traps your coins, that criticism is out of date. Moving coins to a hardware wallet you control is still the only way to remove platform risk entirely.
If price is your main concern, Wealthsimple is the most expensive option here and NDAX at 0.20% or Netcoins at a flat 0.5% will cost you far less per trade. Wealthsimple earns its place if you already bank your investments there, value having everything in one app and one tax package, and buy infrequently or through free recurring deposits. Paying 2% for occasional purchases is a defensible trade; paying 2% while trading actively is not.
This review is for informational purposes only and is not financial advice. Fees, coin listings and regulatory status change — confirm current details with Wealthsimple and the CSA authorized platform list before depositing.
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