Wealthsimple is launching Wealthsimple Crypto, a trading platform for cryptocurrency, and now’s your chance to get on the waitlist!
What is Wealthsimple Crypto?
Wealthsimple Crypto is a new trading platform to be offered by Wealthsimple. Like Wealthsimple Invest and Wealthsimple Trade, Wealthsimple Crypto boasts no account minimums, no fees to deposit or withdraw, and no trading commissions!
Wealthsimple Crypto will let you buy, sell, and hold cryptocurrency coins within the app. You will only be able to make deposits and withdrawals in Canadian dollars, though.
Who is Wealthsimple?
Wealthsimple is a Canadian fintech company that strives to offer simple, easy to use tools to help Canadians invest. From socially-responsible investment portfolios to high-interest cash accounts, the provides some of the very best financial tools on the market. You can learn more about this incredible company in our Wealthsimple Review!
What cryptocurrencies will be supported on Wealthsimple Crypto?
Currently, only Bitcoin and Ethereum will be supported by Wealthsimple Crypto. While these are the most prominent coins in this space, it leaves many of the more popular alt-coins behind.
However, Wealthsimple always has a tendency to launch their minimum viable product and then quickly add features as time passes. We can expect increased functionality and more coins to be traded on Wealthsimple Crypto in the near future as they further develop the app!
Should I be investing in cryptocurrency?
Whether or not you want crypto coins are a fit for your investment portfolio depends on your financial goals and risk tolerance as an investor.
Crypto coins are their own type of currency, but they do have a dollar value in regular national currencies. This amount fluctuates often, which is how investors can earn a profit buying and selling cryptocurrency.
At present, cryptocurrency is not regulated, which makes it a high-risk and often very volatile investment. Of course, if you’re a risk-tolerant investor that likes to do active trading, this might be exactly what you’re looking for!
Check out our post Everything You Need To Know Before Investing in Cryptocurrency for an in-depth guide to getting started with crypto coins!