Crypto.com vs Wealth Simple Crypto: Cryptocurrency investing has grown exponentially in Canada, with platforms like Crypto.com and Wealth Simple Crypto emerging as popular choices. However, fees can significantly impact your returns, making it crucial to compare costs before choosing a platform.
- Trading fees (buying, selling, spreads)
- Deposit & withdrawal fees (bank transfers, crypto transfers)
- Staking & earning rewards
- Credit card & cashback programs
- Hidden fees & additional costs
By the end, you’ll know which platform offers better value for Canadian investors.
Overview of Crypto.com & WealthSimple Crypto
What is Crypto.com?
- One of the largest global crypto exchanges
- Offers trading, staking, debit cards, and lending
- Supports 350+ cryptocurrencies
- Available in Canada with CAD deposits
What is WealthSimple Crypto?
- A Canadian fintech platform (part of WealthSimple Invest)
- Simple, beginner-friendly interface
- Supports 80+ cryptocurrencies
- No wallet withdrawals (custodial-only)
Fee Structures Compared
A. Trading Fees (Buying & Selling Crypto)
Crypto.com Fees
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Spot Trading Fees:
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0.075% to 0.40% (depends on 30-day trading volume & CRO stake)
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Maker fees: 0% – 0.075%
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Taker fees: 0.075% – 0.40%
-
- Spread Markup: ~1% for instant buy/sell
- Crypto.com App Fees: ~1% – 2.99% (higher than Exchange)
WealthSimple Crypto Fees
- Flat spread markup of 1.5% – 2% (no separate trading fee)
- No maker/taker fees (simpler but potentially more expensive)
Winner: Crypto.com Exchange (lower fees for active traders).
Deposit & Withdrawal Fees
Crypto.com
- Bank Deposits (CAD): Free (Interac e-Transfer, wire transfer)
- Crypto Withdrawals: Variable (e.g., 0.0004 BTC for Bitcoin)
- Fiat Withdrawals: $0.80 CAD (bank transfer)
Wealth Simple Crypto
- Bank Deposits (CAD): Free (Interac, wire)
- Crypto Withdrawals: Not allowed (custodial-only)
- Fiat Withdrawals: Free
Winner: Crypto.com (allows crypto withdrawals).
Staking & Earning Rewards
Crypto.com Staking
- Earn up to 14% APY on crypto (CRO, BTC, ETH, stablecoins)
- Lock-up periods: Flexible to 3 months
- Debit card rewards: Up to 8% cashback (requires CRO stake)
Wealth Simple Crypto Rewards
- No staking or interest on crypto holdings
- Only price appreciation (no yield)
Winner: Crypto.com (better passive income options).
Debit Cards & Cashback
Crypto.com Visa Card
- Tiers: Midnight Blue (1%), Ruby (2%), Indigo/Jade (3%), etc.
- Spotify/Netflix rebates: Yes (higher tiers)
- ATM Withdrawals: Free up to limits
Wealth Simple Cash Card
- 1% cashback (no crypto rewards)
- No staking requirements
Winner: Crypto.com (higher rewards with CRO stake).
Hidden Fees & Considerations
- Wealth Simple Crypto: No withdrawal option means you can’t move crypto to cold storage.
- Crypto.com Exchange vs. App: Exchange has lower fees than the app.
- Spread Costs: Wealth Simple’s 1.5-2% spread can be costly for frequent traders.
Which is Better for Canadians?
Choose Crypto.com If You:
✅ Want lower trading fees
✅ Need crypto withdrawals & DeFi access
✅ Seek staking & high-yield rewards
✅ Don’t mind staking CRO for perks
Choose WealthSimple Crypto If You:
✅ Prefer a simple, beginner-friendly app
✅ Don’t need crypto withdrawals
✅ Want a no-frills investing experience
Final Verdict: Crypto.com Wins on Fees & Features
While Wealth Simple Crypto is easier to use, Crypto.com offers lower fees, staking rewards, and more flexibility. However, if you’re a passive investor, Wealth Simple’s simplicity may appeal to you.
For active traders & yield seekers, Crypto.com is the clear winner.
FAQ
Q: Does Wealth Simple Crypto allow withdrawals?
A: No, you can only sell to CAD.
Q: Which has lower fees for Bitcoin trading?
A: Crypto.com Exchange (0.075% vs. Wealth Simple’s 1.5-2% spread).
Q: Can I earn interest on Wealth Simple Crypto?
A: No, only price appreciation.
Conclusion
Both platforms serve different needs. Compare your trading habits, fee sensitivity, and desired features before choosing.
Want the best fees & rewards? → Crypto.com
Prefer simplicity & no withdrawals? → Wealth Simple Crypto