Wealthsimple: Investing, Regulated Crypto, Stocks
Wealthsimple was launched in late 2014, and the financial technology company is mainly focused on providing ways for users to easily access and manage investments via automated savings systems. While the company is based in Toronto, Canada, this platform is also available to citizens of the United States and the United Kingdom. Users are able to transfer retirement accounts to the Wealthsimple platform or simply start from scratch with a deposit from their bank account.
In terms of cryptocurrency integration, Wealthsimple users are able to buy bitcoin and ether on a commission-free basis via the platform; however, this functionality is currently limited to users who reside in Canada. Wealthsimple plans to add more crypto assets to the platform over time.
Users can also put funds into investments in the traditional financial markets
Savings accounts available
Has a large number of educational resources for new investors
Tax preparation services and tax-conscious investment accounts
Trading fees hidden in buy and sell price spreads
Custodial wallet setup
Wealthsimple Crypto specifically is only available in Canada at this time
Real fees for crypto asset purchases are a bit high