The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
WealthSimple Crypto is the Safest and Easiest way to Purchase Bitcoin, Ethereum and Altcoins in Canada.
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Right off the bat WealthSimple Crypto is an amazing platform to use for your crypto trading.
It has an easy to use interface, beautiful aesthetics and painless sign up process.
Since it provides a lot of slides, presentations, and explanations to help better understand Bitcoin & Crypto, its a 100% Newbie proof.
So if you’re new to crypto or need access to information to help better understand this asset I recommend go checking out WealthSimple Crypto.
Even as a pro user I would still have a WealthSimple Crypto account.
I can use it as a backup method when purchasing bitcoin or Altcoins while my other brokerages are down due to high volatility. Thus not missing out buying during low prices.
And the account is a 100% free, no inactivity fees, and no minimum deposits.
So why is WealthSimple Crypto so good?
1. It’s very easy to sign up for an account, its very easy to fund your account and to fund it quick.
Not only that, you also want to hold your cryptocurrencies in a Secure location, and WealthSimple Crypto is very secure.
WealthSimple Crypto works in partnership with the most secure crypto brokerage to date, which is the Gemini Crypto brokerage (Gemini.com).
So Gemini is licensed by New York State Department of Financial services to hold customer’s digital assets in trust on behalf of the customer.
They are also the only Crypto Brokerage Insured, up to $200 million dollars as of right now.
Therefore, WealthSimple Crypto picked an excellent and secure partner to work with for their Crypto Platform.
2. Not only can you purchase Bitcoin you can purchase up to 20 different Cryptocurrencies (Altcoins).
The list is: 0x, Aave, Balancer, Basic Attention Token, Bitcoin, Bitcoin Cash, Chainlink, Compound, Curve, Doge, Ethereum, Filecoin, Kyber Network, Litecoin, Maker, Polygon, SushiSwap, Synthetix, Uniswap and Yearn.Finance
Personally in the beginning I would just focus on Bitcoin & Ethereum, because AltCoins are even more volatile and risky.
So research heavily before deciding to purchase altcoins.
3. Get access to 24/7 Crypto trading, no fees for withdrawing, depositing, transferring, closing an account, opening an account and no minimums.
You can start investing as low as $1.00
On the platform you can see real time charts for all crypto available.
Along with 1 hour to 5 year charts, high and low prices and you can see the total quantity of crypto you have per coin, total valuation, average price purchased, percentage of portfolio and unrealized returns.
You can also purchase cryptocurrency at Market Price or at Limit Buy/Sell orders.
4. Easily connect your bank account to your WealthSimple Crypto account and thus fund it quick. You get access to $250 instant funding every 3 days, or $1000 if you upgrade to the pro $3 monthly plan.
Anything higher than $250 but less than $50 000 will take roughly 3 business days, and anything higher than $50 000 will take roughly 5 business days.
As of right now the only accept bank transfer, no e-transfer or Visa/Mastercard Debit Cards.
5. It so much easier for the average Canadian Joe to purchase bitcoin and cryptocurrencies.
Thus, allowing cryptocurrencies to increase in total valuation by opening the Canadian market.
It’s a WIN-WIN situation for everybody, even for those who don’t use the WealthSimple Crypto platform.
Cons?
1. Since you don’t actually hold the crypto but own a certificate to the crypto you therefore cannot withdraw or use your crypto to make purchases. And you can’t earn interest on your crypto either.
So, if you’re just hloding Crypto for the longterm this won’t matter at all.
2. The spread or fee when buying and/or selling crypto on WealthSimple Crypto is on the slightly high side of 1.5% to 2.0%.
But I would say this price is fair seeing how this is the easiest platform for Canadians to sign up, purchase crypto and to hold it securely.
However, binance pro, gemini activetrade, coinbase pro offer rates as low as 0.5% to 0.02%.
3. You can’t hold your crypto in a TFSA or any other registered Investment account.
This is regulation issue and not a WealthSimple Crypto problem, and no margin accounts.
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For business or one-on-one consulting for Crypto and Stock Investing, you can reach me at [email protected]
*Some of the links and other products that appear on this video are from companies which Mike Gap will earn an affiliate commission or referral bonus. Mike Gap is part of an affiliate network and receives compensation for sending traffic to partner sites. Some of the offers mentioned may no longer be available.
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DISCLAIMER: All content on this channel is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of information on this channel. Author is long on some of the stocks mentioned in the video.
Cryptocurrency, Dogecoin, Bitcoin, Ethereum, US FED, Crypto Crash, Bitcoin Crash,
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