Bitbuy vs Wealthsimple: Which is Best? [2025]
Key differences
- Wealthsimple supports 100+ cryptocurrencies, while Bitbuy supports 33 cryptocurrencies.
- Wealthsimple offers tiered fees based on account assets, while Bitbuy has a fixed fee structure.
- Wealthsimple offers traditional investment services alongside crypto, while Bitbuy focuses solely on crypto.
- Both platforms are Canada-only with different regulatory frameworks.
Bitbuy vs Wealthsimple Fees Calculator
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Bitbuy vs Wealthsimple in Comparison
Description
Fast, secure Canadian exchange with high limits and BTC insurance.
Canadian financial services platform serving 3+ million users with $70+ billion in assets under administration. Offers crypto trading alongside traditional investing.
Supported Countries
Only available in Canada. Registered with Ontario Securities Commission (OSC) and FINTRAC.
Available only in Canada. All users must verify their identity to access crypto trading features.
Supported Cryptocurrencies
33 cryptocurrencies including BTC, ETH, USDC, SOL, DOGE, SHIB, XRP, ADA, MATIC, DOT, AVAX, LINK, MANA, and more
100+ cryptocurrencies including Bitcoin
Fees
- Withdrawal Fees:
- Interac e-Transfer: Free
- Bank Deposit: 1.5%
- Wire Transfer: 1.5%
- BTC: 0.0005 BTC
- Trading Fees (based on account tier):
- Core ($1+ assets): 2%
- Premium ($100K+ assets): 1%
- Generation ($500K+ assets): 0.5%
FX Conversion Fees:- Under $10,000: 1.5%
- $10,000 - $24,999: 1.0%
- $25,000 - $99,999: 0.5%
- $100,000+: 0%
Staking Fees:- Core/Premium: 30% of rewards
- Generation: 15% of rewards
Payment Methods
Interac e-Transfer, Bank Account, Credit Card, Debit Card
Bank AccountInterac e-Transfer
Do These Exchanges Allow you To Earn Interest on Crypto?
1.75% - 2.75%
Earn 1.75% (Core), 2.25% (Premium), or 2.75% (Generation) interest on chequing account balances. Also offers staking yields up to 6% (Core), 11% (Premium), or 13.5% (Generation) on supported cryptocurrencies.
Mobile App Ratings
iOS Rating: 4.5 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 4.5 Official rating from the Android Play Store as of November 18, 2024.
iOS Rating: 4.6 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 3.8 Official rating from the Android Play Store as of November 18, 2024.
Storage
Multi-tiered security system with servers secured across multiple world-class cloud providers. Features include 2FA authentication, comprehensive BitGo insurance policy, proof-of-solvency accounting, routine financial/security audits, and privately maintained closed-source codebase. First Canadian registered marketplace for crypto assets, federally approved as a Restricted Dealer.
Majority of cryptocurrencies held in offline cold storage with regulated custodial partners, each with $75M+ insurance coverage. Hot wallets covered by Coincover insurance for additional protection against hacks.
Have These Exchanges Been Hacked Before?
No. No publicly reported major hacking incidents.
No reported loss of customer funds.
Official Site
Exchange Review
No review available
"Bravo Bitbuy! Hands down best Bitcoin buying app in Canada. I have used all of the other crypto apps in Canada including Coinsquare, Coinberry and Shakepay. This is by far the best app out of them all. I love the quick turnaround times, low BTC prices and lightening fast customer service."
- Real user review from iOS App Store, Android Play Store or Trustpilot
No review available
"Love the simplicity and how easy this was to get going!"
- Real user review from iOS App Store, Android Play Store or Trustpilot
Bitbuy vs Wealthsimple Comparison
Fee Structures
Bitbuy charges:
- 1.5% trading fee
- 1% spread fee
- Free Interac e-Transfer deposits and withdrawals
- 1.5% fee for bank deposits and wire transfers
- 0.0005 BTC withdrawal fee for crypto
- 2% for Core accounts ($1+ assets)
- 1% for Premium accounts ($100K+ assets)
- 0.5% for Generation accounts ($500K+ assets)
- No spread fees
- Free bank transfers and Interac e-Transfer deposits/withdrawals
- 2.5% fee for instant withdrawals
- Variable crypto network fees for withdrawals
Feature Set
Bitbuy offers a simple, user-friendly platform with 33 cryptocurrencies, built-in wallet functionality, Auto-DCA features, and human customer support. They focus on Canadian users with regulatory compliance through OSC and FINTRAC. The platform is designed specifically for crypto trading and accumulation.
Wealthsimple provides a comprehensive financial services platform serving 3+ million users with $70+ billion in assets under administration. They offer crypto trading alongside traditional investing, supporting 100+ cryptocurrencies with staking yields up to 13.5% for Generation accounts. The platform also provides traditional investment services, financial planning tools, and interest-earning chequing accounts.
Geographic Availability
Bitbuy is exclusively available in Canada, registered with the Ontario Securities Commission (OSC) and FINTRAC. They are the first Canadian registered marketplace for crypto assets and operate under strict Canadian regulatory oversight.
Wealthsimple is available only in Canada. All users must verify their identity to access crypto trading features. The platform is regulated by the Canadian Investment Regulatory Organization (CIRO) and serves over 3 million Canadian users.
Payment Methods
Bitbuy supports Interac e-Transfer (free), Bank Account, Credit Card, and Debit Card. They offer free deposits via Interac e-Transfer and wire transfers, with 1.5% fees for bank deposits and wire withdrawals. Crypto withdrawals cost 0.0005 BTC network fees.
Wealthsimple supports Bank Account (free) and Interac e-Transfer (free) for deposits and withdrawals. They also offer instant withdrawals for a 2.5% fee. Crypto withdrawals are subject to variable network fees based on the specific cryptocurrency.
Security Features
Bitbuy implements a multi-tiered security system with servers secured across multiple world-class cloud providers. Features include 2FA authentication, comprehensive BitGo insurance policy, proof-of-solvency accounting, routine financial/security audits, and privately maintained closed-source codebase. As the first Canadian registered marketplace for crypto assets, they operate under strict regulatory oversight.
Wealthsimple holds the majority of cryptocurrencies in offline cold storage with regulated custodial partners, each with $75M+ insurance coverage. Hot wallets are covered by Coincover insurance for additional protection against hacks. The platform operates under CIRO regulation and has no reported loss of customer funds.
Customer Support
Bitbuy offers human customer support with quick response times, as noted in their positive reviews. They provide dedicated support for Canadian users with expertise in local banking and regulatory requirements.
Wealthsimple provides human support through their comprehensive financial services platform, serving over 3 million users with both traditional investment and crypto trading support.
Additional Features
Bitbuy includes Auto-DCA functionality, built-in wallet, and focuses on long-term Bitcoin accumulation with Canadian regulatory compliance. They offer a streamlined experience specifically designed for Canadian crypto investors with fast fiat on/off ramps and federal registration with OSC and FINTRAC.
Wealthsimple offers traditional investment services, staking rewards up to 13.5% for Generation accounts, interest on chequing account balances (1.75% - 2.75%), and comprehensive financial planning tools alongside crypto trading. The platform serves as a complete financial ecosystem for Canadian users, combining crypto trading with traditional investment management and banking services.
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