Wealthsimple Crypto Referral Code (May 2022): $50 Signup Bonus

February 14, 2022
Blog
Wealthsimple Crypto

Wealthsimple Crypto is a cryptocurrency trading platform that belongs to Wealthsimple, Canada’s most popular no-fee Robo advisor for wealth management. It has many interesting features like a third-party custodian for increased safety, 0 deposit or withdrawal fees, and a user-friendly user interface.

Wealthsimple Crypto has a referral program for new users: by using our referral link (or our referral code YOREOYSTER), you will receive a $50 sign-up bonus when you deposit at least $150. You will also receive your referral link, which you can use to invite friends and earn $50 for each.

How To Use Your Wealthsimple Crypto Referral Code

You can get a $50 welcome bonus when you sign up using our Wealthsimple Crypto referral link(or our referral code YOREOYSTER). To qualify for the referral bonus, simply create a new account, fund it and trade at least $150 worth of digital currency. You will also get your own referral code.

To use the promo code:

  • Visit Wealthsimple Crypto‘s page. Click on the Get Started button. 
  • Confirm your identity.
  • Fill in some of your basic information.
  • The last step is to fund your account. Keep in mind that to receive the bonus of $50, you have to deposit at least $150.

What Is Wealthsimple Crypto?

Wealthsimple Crypto is a cryptocurrency trading platform that belongs to Wealthsimple, Canada’s most popular no-fee Robo advisor for wealth management. Wealthsimple also offers a brokerage platform, Wealthsimple Trade, which allows customers to trade stocks and ETFs at no cost. The Wealthsimple Crypto and Trade apps are linked and work in tandem, meaning that they can be used on a mobile app and in desktop format.

What Coins Does Wealthsimple Crypto Offer?

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Chainlink (LINK), Uniswap (UNI), Yearn.Finance (YFI), among others, for the full list check our full Wealthsimple Crypto review

Wealthsimple Crypto Features

Some of the best Wealthsimple Crypto features include:

  • No Fees To Deposit Or Withdraw Funds.
  • Beginner-Friendly Interface.
  • Third-Party Custodian, Gemini Custody keeps your coins on this platform (regulated by the NYSDFS).

Wealthsimple Crypto Fees

Wealthsimple Crypto does not charge any fees for deposits or withdrawals, nor do they charge any fees when creating or terminating an account. They also do not charge for electronic statements or trade confirmations.

However, be aware that there’s a spread that is added to the price whenever you place a buy or sell order. This spread can vary between 1.5% and 2%.

How To Sign Up With Wealthsimple Crypto

#1 Visit Wealthsimple Crypto‘s page. Click on the Get Started button. 

#2 Confirm your identity.

#3 Fill in some of your basic information.

#4 The last step is to fund your account. Keep in mind that to receive the bonus of $50, you have to deposit at least $150.

Wealthsimple Crypto’s Referral Program

In addition, Wealthsimple will pay you a bonus of $25 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.

Is Wealthsimple Crypto Safe?

Yes. After all, Gemini Custody, a cryptocurrency exchange and custodian that is licensed by the New York State Department of Financial Services, holds Wealthsimple Crypto’s digital assets.

Wealthsimple Crypto is also offered through the CSA’s Regulatory Sandbox under a time-limited regulatory approach, which makes it even safer.

However, keep in mind that your crypto funds are not covered by the Canadian Investor Protection Fund (CIPF) or Canada Deposit Insurance Corporation (CIDC), so if the company ever becomes insolvent, you will not get any reimbursements.

Is Wealthsimple Crypto Legal In Canada?

Yes. Wealthsimple Crypto is offered under a time-limited regulatory approach by the CSA’s Regulatory Sandbox, which means that it is legal to use in Canada.

Our Recommendation: CoinSmart

Despite its safety and user-friendliness, Wealthsimple has a few cons that don’t allow me to fully recommend it.

For example, Wealthsimple is a broker first and foremost, and Wealthsimple Crypto doesn’t serve the purpose of a cryptocurrency exchange.

You also cannot transfer or move your coins to a personal digital wallet, and the platform also only accepts CAD. This means that you can’t really fund your account with other fiat currencies like, say, USD.

Lastly, the price spread of the platform is also not the most competitive: Wealthsimple Crypto’s spreads are typically in the range of 2% on both buy and sell sides, meaning that buying and selling 1 Bitcoin would cost roughly $3,000 CAD in spread (at current rates).

Introducing CoinSmart: Canada’s #1 Crypto Platform

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ends May 19.

★★★★★

Rated 4.9/5

I recently broke down 10+ of Canada’s most popular crypto platforms, and CoinSmart came out on top. It scored so well because it excels on what I believe are the three most important factors when choosing a crypto platform: fees, security, and customer support.

Here’s how CoinSmart performs in each of those areas, and why I believe it’s the best crypto trading platform in Canada. And to get your $50 signup bonus with CoinSmart, use this signup link and the special promo code YOREOYSTER.

#1 Lowest Fees In The Industry

CoinSmart’s trading fees are just 0.20%, the lowest of any crypto platform in Canada. And those savings add up quickly: if you trade $100,000 worth of Bitcoin in a given year (buying and selling $25,000 worth twice), you’ll save $800 in trading fees compared to a platform that charges 1% ($200 vs. $1,000).

Perhaps more important than trading fees, though, are spreads: the difference between the Buy price and the Sell price. CoinSmart has razor-thin spreads, which makes day trading possible and keeps more money in your pocket.

#2 Bank-Level Security

CoinSmart maintains a 95% cold storage policy, which means at least 95% of its users’ crypto is always held offline. This is a security measure that only the most advanced trading platforms employ, and CoinSmart is leading the charge.

CoinSmart is also the only publicly traded crypto platform in Canada, which means it’s subject to far more financial scrutiny than any other platform. It’s regulated by FINTRAC (the Financial Transactions and Report Analysis Centre of Canada) and the OSC (Ontario Securities Commission), and its financials are audited by external professionals at least once per year.

#3 Excellent Customer Support

CoinSmart offers 24/7 customer support via phone, live chat, and email, and their customer service reps are actually helpful rather than just following a script. I’ve never had to wait more than about 60 seconds on hold, and they’re very responsive via live chat and email, too. 

The only time I ran into an issue with CoinSmart, I called them and had it sorted out within 5 minutes. Keep in mind that telephone and live chat support is only available for registered users, so if you have a question for CoinSmart, the best way to get it answered is to open an account

CLAIM MY $50 BONUS
Offer ends May 19.

Conclusion

Wealthsimple Crypto is a cryptocurrency trading platform that belongs to Wealthsimple, Canada’s most popular no-fee Robo advisor for wealth management. It has many interesting features like a third-party custodian for increased safety, 0 deposit or withdrawal fees, and a user-friendly user interface.

Wealthsimple Crypto has a referral program for new users: by using our referral link, you will receive a $50 sign-up bonus when you deposit at least $150. You will also receive your referral link, which you can use to invite friends and earn $50 after they fund their accounts.

Before You Go

Here are the best sign-up bonuses available right now. If you’re planning to sign up for any of these services, we recommend you take advantage of these bonuses:

Crypto Exchange Signup Bonuses:

Crypto Hardware Wallets:

Online Bank Referral Bonuses:

Online Broker Sign up Bonuses:

Robo Advisor Sign up Bonuses:

Other Everyday Bonuses:

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5