Wealthsimple Crypto Referral Code & Review 2024 ($25 Bonus)

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If you want to sign up with Wealthsimple Crypto and want a referral code to get the welcome bonus, this post is for you.

You can get a $25 welcome bonus when you sign up using the Wealthsimple Crypto referral link below. To qualify for the referral bonus, create a new account, fund it and trade at least $150 worth of digital currency.

We’ll start by showing you how to get a $25 welcome bonus using our Wealthsimple Crypto referral code, then provide a full Wealthsimple Crypto review that covers its best features, fees and how it compares to its peers.

Let’s start…

Wealthsimple Crypto Referral Code

You can get a $25 welcome bonus when you sign up using the Wealthsimple Crypto referral link below. To qualify for the referral bonus, simply create a new account, fund it and trade at least $150 worth of digital currency.

In addition, Wealthsimple will pay you a bonus of $50 for every friend you refer to their exchange. Your friends will also have to satisfy the minimum trade requirement for you to get the bonus.

How the Wealthsimple Crypto Referral Works

To get started, click on the Wealthsimple Crypto referral link above to be directed to their website. The promo code is automatically applied.

Sign up for a new account and download the Wealthsimple Crypto app (same as the Trade app) if you don’t have it already.

The next step is to fund your account using EFT (takes up to 5 days) or use the instant deposit feature available to users with Wealthsimple Trade premium subscription.

With your account funded, purchase at least $150 worth of cryptocurrency to qualify for the bonus.

To earn even more money through the Wealthsimple Crypto referral program, refer your friends to the platform. Simply login to your profile, copy your unique referral link and share with your friends.

Both of you will get the bonus after they buy a minimum of $100 in digital currencies.

About Wealthsimple Crypto

Wealthsimple Crypto is a cryptocurrency trading app or exchange that was launched in 2020 by Wealthsimple, Canada’s most popular robo-advisor.

The app started by allowing its users to buy and sell Bitcoin and Ethereum, the 2 most capitalized cryptocurrencies. But its coin offering has now grown to 60+.

Here are some of the best features of Wealthsimple Crypto:

  • Easy account signup process
  • Simple and intuitive app that makes buying crypto easy – even for beginners
  • No account minimums – invest with as little as $1

Check here for a full Wealthsimple Crypto Review.

Available Cryptocurrencies at Wealthsimple Crypto

Wealthsimple Crypto currently supports 60+ different digital coins. They include:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Aave (AAVE)
  • Basic Attention Token (BAT)
  • Balancer (BAL)
  • Chainlink (LINK)
  • Compound (COMP)
  • Curve (CRV)
  • Dogecoin (DOGE)
  • Kyber Network (KNC)
  • Litecoin (LTC)
  • Maker (MKR)
  • Synthetix (SNX)
  • Uniswap (UNI)
  • Yearn.Finance (YFI)
  • Polygon (MATIC)
  • SushiSwap (SUSHI)
  • Ox (ZRX)
  • Filecoin (FIL)

and many more…

Wealthsimple Crypto Fees

You won’t have to pay a commission on your trades. But there’s always a margin or spread added to the actual prices you’re quoted on the Wealthsimple Crypto app.

So while you won’t see a separate commission, you’re paying one indirectly. And this is where things get tricky.

According to Wealthsimple, you can expect to pay anywhere between 0.5% and 2% to cover their operating costs including the custodial fees charged by Gemini, their 3rd-party custodian.

Outside of this operations fee, there are no other hidden charges. Deposit, withdrawals, account opening and closing, and electronic account statements are all free.

Wealthsimple Crypto Spread

To understand how the Wealthsimple Crypto spread works, here’s an illustration showing the reference bitcoin price and the buy price quoted on the platform as at October 17th, 2023:

Quoted Buy Price$39,333.06$2,650.75
Crypto Price$38,740.91$2,611.99
Spread ($)$592.15$38.76
Spread (%)1.53%1.48%

You can also expect similar spreads when you want to sell.

According to this document, Wealthsimple Crypto currently uses a liquidity provider to source for the coins it buys and sells to its clients. Its own operations fee is then added to the quote.

This probably explains why its spread is wider than the other crypto exchanges. If or when they stop using this model, you can expect their spread to narrow and compare favourably with its peers.

Pros and Cons of Wealthsimple Crypto


  • Start trading or investing with small amounts – as little as $1
  • Available within the same app as Wealthsimple Trade so you can buy and sell shares and ETF on the same platform as your crypto trades
  • Regulated and registered across all Canadian provinces
  • Available on mobile and desktop
  • Good selection of crypto to trade


  • Wider spreads: Does not have the best spreads compared to its peers
  • Crypto can now be transferred into the platform, but not out for all coins
  • Limited features: No limit orders or tools for professional traders
  • Slow account funding: No Interac so funding through EFT takes up to 5 days. But you can get instant deposit of up to $1,000 through the premium subscription

You can check this Wealthsimple Trade Plus Subscription Review for more information.

wealthsimple crypto referral code, promotion and review

Is Wealthsimple Crypto Safe

Overall, Wealthsimple Crypto is safe based on the following:

  • Regulated: through a time-limited (2 years) registration available through the Canadian Securities Administrators (CSA) Regulatory Sandbox – an initiative that allows Canadian FINTECH companies to register using a more flexible and easier process. It is also registered with OSC as a Restricted Dealer.
  • Reputable company: Wealthsimple is a reputable company that has been serving Canadians since 2014. They’re well funded and they recently raised a $750 million investment round from some of the biggest investors.
  • Regulated Crypto Custodian: Coins are held by Gemini Trust Company LLC™, a custodian with $200M in cold storage insurance coverage.

That being said, when it comes to digital coins, there’s the popular phrase that “not your keys, not your coins”.

Also, your crypto investments don’t have the same protection your deposits or equity investments have. That means no CDIC or CIPF protection in the event of a failure.

Related: Best Crypto Wallets in Canada

Wealthsimple Crypto vs Other Exchanges

Let’s see how it stacks up against some of the other popular cryptocurrency exchanges in Canada.

Wealthsimple Crypto vs Newton

Newton is another crypto exchange that makes it simple and easy to buy digital currencies in Canada. It offers access to more cryptocurrencies – 71 coins versus 60+ at Wealthsimple Crypto.

Also, Newton’s spread is much narrower, so you’ll pay less to either buy or sell on their platform. The spreads usually range between 0.50-0.70% compared to 1.5-2% at Wealthsimple Crypto.

Newton also has zero fees for deposits and withdrawals of funds, and they’ll cover your mining costs up to CAD$5 if you want to withdraw your crypto.

Overall, Newton has a better crypto trading and investing offering than what Wealthsimple Crypto currently offers.

Check this post for my detailed Newton Review and also this post covering Newton promo code. Click below to get a sign-up bonus of $25.

Wealthsimple Crypto vs Shakepay

Shakepay is another no-commission crypto exchange available to Canadians. Like Wealthsimple Crypto, it also makes its money through the spread between its quoted prices and the actual crypto prices.

Its spread is wider than Newton’s but still lower than Wealthsimple. Also, Shakepay only supports Bitcoin and Ethereum currently.

Shakepay has a cool feature called ShakingSats that rewards you with free Bitcoins daily. Simply open the app every 24 hours, shake the phone and get free Bitcoins in your account. And you can also send CAD to other Shakepay users.

They are also planning to introduce a Shakepay Card that lets you earn bitcoin as “cash back” for your purchases. You can join the waitlist when you sign-up.

The bottom line is both crypto apps have clean and intuitive user interface, and are great for beginners. But based on fees, features and other products available, Shakepay has a slightly better edge.

Get $5 through this ShakePay referral link or the button below.

Read more: Shakepay Referral Bonus and Review.

Wealthsimple Crypto vs Bitbuy

Bitbuy has been around 2016. They currently support 39 coins, such as Bitcoin, Bitcoin Cash, Ethereum, EOS, Litecoin, Steller XLM and XRP – less than the coins available at Wealthsimple Crypto.

Bitbuy’s spreads are also lower than Newton’s but then they charge for deposits: 1.50% for e-transfers and 0.50% for bank wires. And there’s a 1.50% withdrawal fee for either e-transfers or bank wires.

On the other hand, Wealthsimple does not charge for both deposits and withdrawals of funds. Therefore, considering all the fees involved, Wealthsimple Crypto is cheaper than Bitbuy if you need to buy Bitcoin or Ethereum.

So what’s the final verdict? Overall, Wealthsimple Crypto has a cheaper offering than Bitbuy if you just want to buy crypto on a one-off basis and depending on the funding option you choose. But if you trade often and want more options, set limit orders and so on, then Bitbuy beats Wealthsimple Crypto.

Get $5 welcome bonus with Bitbuy when you deposit a minimum of $250.

Wealthsimple Crypto Review

Bottom line is: Wealthsimple Crypto is a decent app for beginners that are just looking to buy the 2 biggest digital coins (Bitcoin & Ethereum) or some altcoins.

If you need to trade often, and need more professional tools, you may be better off with any of the other crypto-exchanges available to Canadians.

However, many of the missing features will likely be added in the future, including more coin options, limit orders and more account funding and withdrawal options.

Some FAQs: Wealthsimple Crypto Review

What cryptocurrencies can I buy on Wealthsimple Crypto?

You could only buy or sell Bitcoin and Ethereum on Wealthsimple Crypto when it started. But it now supports many other digital currencies including dogecoin, Tether, Litecoin and many others.

Is Wealthsimple Crypto actually free?

While there are no commissions or fees to buy or sell, Wealthsimple Crypto charges an Operations Fee of 0.5-2% per transaction. Depositing or withdrawing funds are also free

Can I transfer bitcoin or Ethereum to Wealthsimple?

Yes, you can now transfer your crypto from other platforms or wallets into Wealthsimple Crypto.

Can you withdraw crypto from Wealthsimple?

You can not withdraw your bitcoin or Ethereum from Wealthsimple. If you need to make a withdrawal, you’ll have to sell your investment to get CAD and withdraw the funds.

Can I buy or hold bitcoin in my TFSA on Wealthsimple Crypto?

Wealthsimple Crypto is only available as a non-registered account, so you can not trade and hold bitcoin or any other cryptocurrency in your TFSA – yet. The best way to hold bitcoin in your TFSA is through a bitcoin ETF and you can buy them using the Wealthsimple Trade app.

Final Thoughts

Hope you found this Wealthsimple Crypto Review and referral code useful. The features may be limited for now compared to some of the other top crypto platforms available to Canadians. But Wealthsimple continues to improve the platform and add more important features like more coins and price alerts.

Have you heard about the new Wealthsimple Cash app? It is a peer-to-peer payment transfer app that makes it fun and simple to send money to your friends in seconds.

Learn more about its offering in this Wealthsimple Cash Review and get a bonus of $10.

You can check the posts below for other Wealthsimple products reviews:

Wealthsimple Crypto Review and Referral Code


Wealthsimple Crypto is a cryptocurrency trading app or exchange that was launched in 2020 by Wealthsimple, Canada’s most popular robo-advisor. Get $50 Sign-up bonus using this Wealthsimple Crypto Promo Code.

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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