Bitbuy vs. Wealthsimple: Which crypto platform is better?

Wondering which online crypto exchange has the edge when it comes to Bitbuy or Wealthsimple? Bitbuy is a great introductory exchange with more advanced features if you want them, but its fees are on the high side. While Wealthsimple has created an easily accessible platform, it’s a relative newcomer to the crypto space. Here’s our Bitbuy vs. Wealthsimple breakdown to help you choose the platform that’s right for you.

Bitbuy vs. Wealthsimple: Supported coins

One of the main differences between Bitbuy and Wealthsimple is the range of supported cryptocurrencies. Bitbuy focuses primarily on popular coins like Bitcoin, Ethereum and a few altcoins, supporting 65 coins in total.

Wealthsimple, on the other hand, offers a broader selection of some of the best cryptocurrencies, including Bitcoin, Ethereum and Solana, with over 140 coins available.

Who’s the winner?

Wealthsimple for offering a broader range of cryptocurrencies.

Bitbuy vs. Wealthsimple: Fees

Fee type	Bitbuy	Wealthsimple
Minimum deposit	$50	$1
Trading fees	Bitbuy Trade: 0.5%–1.85% (up to 3.85% in extreme conditions) Bitbuy Pro: Maker 0.50%, Taker 0.50% OTC: Spread: 0.5%–1.85% (up to +2% in low liquidity)	Baseline trading fee: Core 2%, Premium 1%, Generation 0.5% Volume-based fee: 0.05%–2%, depending on 30-day trading volume
Staking fees	Up to 30% of staking rewards	Core and Premium: 30%, Generation: 15%
Deposit fees	None	None
Withdrawal fees	Interac e-Transfer: 0% Direct bank deposits: 1.5% Wire transfer: 1.5%	Varies by crypto and fiat
Get started	Bitbuy: Go to site	Wealthsimple: Read review

Who’s the winner?

Wealthsimple for casual traders as its baseline trading fees are lower, but Bitbuy for advanced traders using Bitbuy Pro, as its fees are competitive and better suited for high-volume or active trading strategies.

Bitbuy vs. Wealthsimple: Canadian regulatory bodies

Both Wealthsimple and Bitbuy are members of the Canadian Investment Regulatory Organization (CIRO) and are registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as Money Services Businesses (MSBs).

However, Wealthsimple Crypto operates under a Canadian Securities Administrators (CSA) relief, allowing crypto trading through the Wealthsimple app without full registration as a crypto marketplace. This means the platform is regulated like a traditional broker rather than a marketplace, so it must follow brokerage rules.

Bitbuy operates under Coinsquare Capital Markets Ltd (CCML) and is fully registered with both the Ontario Securities Commission (OSC) and recognized by the CSA as Canada’s first registered crypto marketplace. This gives Bitbuy a higher level of regulatory oversight.

Who’s the winner?

Bitbuy. It’s a fully regulated crypto trading platform, while Wealthsimple operates under broker oversight with limited regulatory relief.

Bitbuy vs. Wealthsimple: Crypto purchase limit

Bitbuy sets no crypto purchase limit for Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Here are Bitbuy’s annual purchase limits for all other cryptocurrencies:

• Basic Crypto Investors: $5,000 CAD (applies to both Specified and Non-Specified Assets)
• Retail Crypto Investors: $30,000 CAD (excluding Specified Assets)
• Eligible Crypto Investors: $100,000 CAD (excluding Specified Assets)
• Accredited Crypto Investors: No limit.

Wealthsimple sets no purchase limits for Bitcoin, Ethereum, Litecoin, Bitcoin Cash and USD Coin. For all other crypto, you’re limited to a combined total of $30,000 per year.

These purchase limits don’t apply to investors in Alberta, British Columbia, Manitoba, Quebec or Saskatchewan.

Who’s the winner?

Bitbuy. It has higher purchase limits for certain investor tiers, making it more suitable for high-volume or accredited traders.

Bitbuy vs. Wealthsimple: Payment methods

Bitbuy only accepts funding via Interac e-Transfer and wire transfer, while Wealthsimple accepts wire transfers, Interac e-Transfers and Visa and Mastercard debit payments. If you have a Wealthsimple chequing account, you can also transfer funds directly to your crypto account.

Who’s the winner?

Wealthsimple. Its wider range of funding options makes it easier and faster to deposit money into your crypto account.

Bitbuy vs. Wealthsimple: Trading tools

Wealthsimple offers simple, beginner-friendly trading tools like automated recurring purchases, market and limit orders, crypto swaps and the ability to send and receive crypto. Its platform is designed for straightforward buying and selling rather than advanced trading.

Bitbuy provides more advanced tools for active traders, including market and limit orders, live order books, trend charts, advanced indicators and API access for automation. It offers greater control and market insight compared to Wealthsimple.

Who’s the winner?

It’s a tie. Wealthsimple is best for beginners and passive investors, while Bitbuy suits experienced traders seeking advanced trading tools.

Bitbuy vs. Wealthsimple: Security features

Although small in size, Bitbuy and Wealthsimple are serious about security. Wealthsimple’s crypto assets are held with Gemini Trust Company, a regulated U.S.-based qualified custodian under Canadian securities regulation, while cash is safeguarded through regulated custodial brokers like ShareOwner. Users also benefit from two-factor authentication, encrypted data transfer, fraud monitoring and regular third-party SOC 1 and SOC 2 audits.

Bitbuy states that over 90% of its client crypto holdings are held in insured cold-storage vaults via qualified custodians like BitGo. Bitbuy also uses two-factor authentication, full-node architecture for custody, closed-source core code and ongoing suspicious activity reviews.

Related: 7 best crypto wallets in Canada in 2025

Who’s the winner?

It’s a tie. Both platforms use cold storage, custodial protection, insurance and multi-factor authentication to keep your digital assets secure.

How do the mobile apps for Bitbuy vs. Wealthsimple compare?

Wealthsimple and Bitbuy both have mobile apps available on the Apple App Store and Google Play. They offer similar features, including:

• Buy, sell and stake cryptocurrencies
• Deposit and withdraw funds
• Send cryptocurrency
• Portfolio tracking
• Set price alerts

However, Wealthsimple’s app is designed for beginners and casual investors, so it doesn’t have the same advanced tools that Bitbuy’s app does, such as live order books, market depth charts, trend indicators and API access for automation. Here’s a snapshot of each app’s user ratings as of October 2025:

	Wealthsimple	Bitbuy
Apple App Store rating	4.6/5 based on 126,900 reviews	4.5/5 based on 7,400 reviews
Google Play rating	3.6/5 based on 80,000 reviews	4.1/5 based on 2,300 reviews

Who’s the winner?

Bitbuy’s mobile app has a higher user rating on Google Play and more advanced features.

Other features we like about Bitbuy vs. Wealthsimple

Recurring crypto purchases

Wealthsimple allows users to set up recurring crypto purchases on a daily, weekly or monthly schedule. Bitbuy on the other hand doesn’t currently offer automated recurring purchases.

USD crypto trading

Wealthsimple offers USD-based crypto accounts, so you can hold funds in U.S. dollars and buy or sell crypto without having to convert between CAD and USD for every trade. Bitbuy is CAD-centred, so you may lose money on the exchange when buying or selling coins listed in USD markets.

Account tiers

Wealthsimple offers three status tiers: Core, Premium and Generation. The tier you’re in determines your trading fees and staking fee rates. Bitbuy also has tiers — Basic, Retail, Eligible and Accredited Crypto Investors — but they don’t offer perks and just determine investment limits.

OTC desk

Both Wealthsimple and Bitbuy offer over-the-counter (OTC) trading for high-volume investors. These OTC desks allow users to execute large trades — typically over $50,000 — without affecting market prices.

Wealthsimple’s OTC desk is still in beta and only available by invitation, while you only need to be a Bitbuy Private wealth client to use Bitbuy’s OTC desk.

What does Reddit think of the Bitbuy vs. Wealthsimple debate?

Reddit users generally agree that Wealthsimple is better for beginners due to its simplicity, user-friendly interface and integration with other financial products. Bitbuy is preferred for more experienced traders who need advanced tools and lower spreads for high-volume trades.

Some Redditors also note that Wealthsimple’s fees and spreads can be higher than Bitbuy’s, while Bitbuy may have slower customer service and higher fees for certain trades.

Who’s the final winner?

Bitbuy and Wealthsimple each have their strengths: Bitbuy excels with advanced trading tools, full regulatory oversight and a professional-grade platform for experienced traders.

Meanwhile, Wealthsimple is best for beginners and casual investors with its lower fees, simple interface, broader selection of cryptocurrencies and flexible funding options.

Overall, Wealthsimple takes the crown because it balances security, usability and cost-effectiveness, making it easier to start investing in crypto.

For beginners and casual crypto investors, the winner is Wealthsimple.

For advanced traders and high-volume investors, the winner is Bitbuy.

Alternatives to Bitbuy and Wealthsimple

Bitbuy and Wealthsimple aren’t the only options if you’re looking for an alternative, here are some of the best crypto exchanges in Canada to consider.

Coinbase

Coinbase is one of the biggest crypto exchanges in the world by trading volume. It serves customers in over 100 countries—including Canada. The user-friendly platform offers features like staking, swaps and instant withdrawals to most banks. Watch educational videos and complete quizzes to earn crypto rewards.

It's easy to sign up, and you can deposit funds for free via Interac e-Transfers. But look elsewhere if you want to hold fiat currencies other than CAD in your account.

Kraken

Founded in 2011, Kraken is one of the world's oldest crypto exchanges. It operates in 190+ countries and caters to new and experienced crypto traders.

Experienced traders will like Kraken's charting tools, detailed order book and range of order types. Beginners will appreciate the app's user-friendly interface and availability of educational materials.

Canadians can earn a yield on their funds, primarily through staking. You can reach customer support 24/7 via live chat or by submitting a support ticket.

Paybis

Paybis is a global cryptocurrency exchange that serves users in over 180 countries. The platform supports buying 75+ crypto assets using 50 fiat currencies.

But you can only sell around 8 popular cryptos. Additionally, if you're from Canada, you can't submit transactions for stablecoins like Tether.

Paybis provides a means of gaining cryptocurrency exposure, especially if you live in an area where crypto trading is tightly regulated. However, frequent traders might want to look elsewhere given the high fees for fiat transactions and limited selling options.

Bitget

Bitget is a global cryptocurrency exchange that offers a fairly comprehensive range of products and services. This includes staking, NFTs and Web3 support, copy trading and educational resources.

You can trade 800+ coins with relatively low trading fees, multiple payment methods, free deposits and an instant buy option, making it a convenient choice for those looking to dip their toes in the crypto markets.

VirgoCX

VirgoCX is an attractive non-custodial exchange for crypto newbies, seasoned traders and institutional investors. Anyone can benefit from the platform's intuitive, easy-to-use UI and broad range of free deposit and withdrawal options.

Institutional investors who trade large volumes of digital assets ($50,000+ CAD) can enjoy 24/7 liquidity with VirgoCX's OTC desk and personalize service via chat brokers.

If you're looking for flexible, low-cost deposits and access to lots of trading features, VirgoCX might be a good fit for you.

Frequently asked questions about Bitbuy vs. Wealthsimple

• Do Bitbuy and Wealthsimple allow staking for all cryptocurrencies?

  No, Bitbuy allows staking for Polkadot, Ethereum, Polygon, Solana, Cardano, Near Protocol, Cosmos, Injective and Celestia.

  Wealthsimple allows staking for Solana, Ethereum, Cardano and Polkadot.

• Are Wealthsimple and Bitbuy available outside of Canada?

  No, both platforms are designed for Canadian residents only.

• What are Wealthsimple's eligibility requirements?

  To open a Wealthsimple account, you must be a Canadian resident, the age of majority in your province or territory and have a valid SIN and phone number.

• What are Bitbuy's eligibility requirements?

  To open a Bitbuy account, you must be a Canadian resident, the age of majority in your province or territory and have a phone number capable of receiving SMS verification codes.

• Can I buy crypto with a credit card?

  Wealthsimple and Bitbuy don't accept traditional credit cards, but Wealthsimple accepts Visa and Mastercard debit deposits. Check out our guide on how to buy Bitcoin with a credit card to proceed.

• Can I buy crypto with PayPal?

  Not on Wealthsimple or Bitbuy, but some crypto exchanges accept PayPal.