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Wealthsimple Crypto Wallet Launches for Bitcoin and Ethereum

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For those using Wealthsimple for your cryptocurrency purchases, the Toronto-based company announced this week it has launched a crypto wallet for Bitcoin and Ethereum.

These hosted wallets allow Wealthsimple users to transfer in bitcoin and ether from external wallets into the Wealthsimple Trade app. Soon, Wealthsimple users will also be able to send coins out of their accounts into other crypto wallets.

Wealthsimple says, “That means if you, say, bought bitcoin on another, perhaps less-trusted marketplace before Wealthsimple became Canada’s first regulated crypto trading platform (not-so-humble brag), you can now move all your BTC into one handy place: a Wealthsimple crypto wallet.”

The Wealthsimple crypto wallet will support more coins “soon” beyond just bitcoin and ether.

Danish Ajmeri, Wealthsimple’s Head of Crypto, added, “Now that we’ve enabled wallet functionality, clients can purchase coins on other exchanges, for instance, and then transfer them to the Wealthsimple app for safekeeping. And once we enable withdrawals — which we will soon — clients will be able to buy crypto through Wealthsimple and then move it elsewhere.”

When asked if Wealthsimple wallets are “safer than other kinds of wallets”, Ajmeri said, “We’re trying to be extra careful. When we built our crypto platform (the first regulated way to trade crypto in Canada), we worked closely with regulators to try to make sure it was as dependable as possible. We’ve been equally diligent in developing our transfer and wallet functionalities. I think Wealthsimple’s track record of building top-notch trading tools speaks to the level of care and attention that we put into these sorts of things.”

Looking to buy Shiba Inu in Canada? Click here to follow our tutorial.

Click here to sign up for Wealthsimple Trade and get $10 credit when you trade at least $100.

If you want full control of your cryptocurrency and tokens, click here to sign up for Shakepay ($30 free with first $100 trade) or Newton ($25 free after first $100 trade) or NDAX ($25 free after first $100 trade).

Disclosure: Wealthsimple is an affiliate partner of iPhone in Canada and the links above allow readers to help support the site.

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