Buy $100 worth of crypto and get a bonus $10

  • Trade crypto and digital assets
  • Significant sign-up bonuses
  • The most trusted finance platform

Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Your capital is at risk. This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) &USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

In comparing and Wealthsimple, the similarities between the two platforms in terms of features seem apparent as both serve as Canada’s leading crypto platforms. On one hand, you have Wealthsimple which is Canada’s first-ever regulated crypto platform that boasts more than 1.5 million users not to mention over $15 billion assets under management.

Then you have Bitbuy which is also a fully regulated crypto exchange, owned by WonderFi Technologies Inc., that was founded in 2016 as a solution for Canadian’s looking for an easy and safe way of buying bitcoin and other top cryptocurrencies. Bitbuy brings to the table features such as a Canadian dollar-based crypto exchange as well as excellent on-ramp connectivity with traditional banks just as much as Wealthsimple’s offer of accounts whose custody is secured by Gemini Trust.

In this article, we compare and contrast both platforms to determine which one is the best for crypto enthusiasts in Canada.

Bitbuy Pros & Cons


  • Up to 95% cold storage

  • Competitively low trading fees

  • FINTRAC regulation

  • Strong security measures

  • Offers multiple technical analysis tools and order types


  • Only available in Canada

  • Features only one fiat currency

  • The list of supported coins is small

Wealthsimple Overview

For crypto investors in Canada looking for quick sign-up processes and access to an exchange platform with an intuitive user interface not to mention the availability of stocks and crypto, Wealthsimple is the app to use.

Founded in 2014, this platform focuses on solutions that help Candian’s maximize wealth management via an automated saving account while also enabling investment in crypto and stocks at an affordable price.

For beginner traders and investors, Wealthsimple comes with plenty of educational resources and since it is a regulated platform, users can go as far as setting up tax-conscious investment accounts.

Unlike Bitbuy, access to Wealthsimple is spread out beyond Canada, and users in the United States, as well as the United Kingdom, can take advantage of some of its features.

Wealthsimple Trade Logo

Wealthsimple Crypto

  • All-in-one app that features banking, stocks and cryptocurrency options
  • Wealthsimple Crypto is available to Canadians only
  • Wealthsimple is very safe and insured by several regulators
  • One of the fastest growing online financial institutions in the world
Cryptocurrencies Supported Bitcoin & Ethereum
Fees Spread added to orders
Promotion Receive a $10 bonus when you open an account and deposit & trade a minimum of $100 within 45 days

Wealthsimple Pros & Cons


  • Tax conscious investment account

  • Comes with a savings account

  • Quality educational resources

  • There is no minimum account requirement

  • Available to people in Canada, USA and UK


  • Slightly higher fees

  • Restricted access for US and UK users

  • Higher than average management fees

    • Limited options in portfolio creation

Beginner Friendliness

For most beginners ease of use is one of the most important factors when picking a crypto exchange or investment platform. In this case, both Bitbuy and Wealthsimple offer pretty intuitive platforms that come fully enabled with a mobile app for easy access.

With Bitbuy, you get all the features son its desktop version on the Bitbuy app which is available on Android and iOS devices. Bitbuy offers a trading platform that lets users buy and sell crypto using the Canadian dollar thus adding to the ease of use. The platform is also introducing the ”Pro Trade” feature to its interface which is an advanced trading platform that offers a live trading view with advanced orders.

Wealthsimple on the other hand comes with an easy account setup. This allows users to quickly set up their portfolios, and in case of any trouble, they can use the questionnaire provided on the platform. Given that Wealthsimple offers investment instruments apart from crypto, the app comes with a user interface that allows users to set goals in their financial planning journey. It also comes with an integrated SimpleTax preparation service designed to make it easy for Canadians to file their tax returns while on the platform.

Trustworthiness and Security

When it comes to security and trustworthiness, both platforms rank high. Bitbuy for instance comes with strong security measures such as 95% cold storage protection of all assets on its platform. This gives users peace of mind while transacting cryptocurrencies. In addition, Bitbuy operates under FINTRAC guidance and also has 2-factor authentication enabled on its platform.

Wealthsimple also boasts of robust security features such as the cover provided by the Canadian Securities Administrators Regulatory Sandbox (CSARS). The cash in Wealthsimple’s accounts is also guaranteed secure custody thanks to the Gemini Trust Company which is also qualified under Canada’s securities regulation.

Overall, regulatory oversight on both Bitbuy and Wealthsimple gives investors peace of mind while using the platforms.


This is where Bitbuy has the edge over Wealthsimple as Bitbuy offers more competitive fees on its platform.

With Bitbuy, you pay a 0.1% fee for placing limit trades and a 0.2% fee for market orders. Regular Bitcoin trades attract a 0.00025 BTC fee, Ethereum has a 0.005ETH fee and Litecoin comes with a 0.02LTC fee to mention just a few.

There is also a fixed price for Bitbuy’s express trade platform where a 0.2% fee is applied for both buying and sell orders.

Wealthsimple on the other hand applies a 1.5% fee per transaction. Therefore, whether you buy or sell crypto throughout the app a spread of 1.5% is applied on all bid and ask prices.

Supported Cryptocurrencies

Compared to the number of supported cryptocurrencies on top crypto exchanges such as Binance, both Wealthsimple and Bitbuy have a pretty limited number of supported coins to trade.

Bitbuy for one features support for only seven crypto assets including:

  • Bitcoin
  • Litecoin
  • Ethereum
  • Bitcoin Cash
  • EOS
  • Stellar

Wealthsimple on the other hand goes a bit further to support about 30 tokens including the following:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Balancer
  • Bitcoin Cash
  • Solana

Outstanding Features

Wealthsimple stands out for its offers of both crypto and stock trading. The platform is also designed for simplicity with a quick and easy signup process not to mention a host of tools for personal finance. Also, the fact that Wealthsimmpe is well regulated adds to the appeal that drives most Canadians to use the platform.

Bitbuy also stands out as a crypto-dedicated exchange that offers an intuitive user interface and a select number of coins to trade at affordable rates. Similar to Wealthsimple, Bitbuy is a regulated entity licensed by FINTRAC.

CryptoVantage Verdict: Wealthsimple Better for Stocks, Bitbuy for Crypto

When it is all said and done, your decision on the platform you choose will boil down to your preference and investment needs.

Given that both Bitbuy and Wealthsimple are mainly available in Canada, they somewhat end up in a draw even though Wealthsimple offers restricted access to its UK and US users.

However, for investors looking to invest in markets beyond crypto, Wealthsimple offers the best choice as it comes with stocks among other financial instruments.

Jinia Shawdagor

About the Author

Jinia Shawdagor

Jinia is a fintech writer based in Sweden focused on the cryptocurrency market and blockchain industry. With years of experience, she contributes to some of the most renowned crypto publications such as Cointelegraph, Invezz and others. She also has experience writing about the iGaming industry.

Back To Top