Wealthsimple CEO Mike Katchen told WP that it’s primary arim is to be simple and accessible.
He said: “You don’t need to be an expert in cryptocurrency or blockchain to use this platform. It’s geared toward people who are interested in learning more or dipping their toes into crypto trading.
“The other big one is that the pricing is transparent. The price you see when you tap buy, is what you pay — no extra hidden costs. There’s no minimum account size, and we don’t charge for deposits or withdrawals.
“Our platform is also not limited to Canadian exchanges. In Canada, trading volume of crypto is relatively low. That’s why we’ve also worked with a global partner that consolidates the liquidity of multiple exchanges around the world, so our clients have access to lower prices.”
He added there has been a lot of demand and excitement around the product, and that anyone can now sign up and trade. The platform is Canada’s first regulated crypto trading platform, offers real-time quotes, is available on iOS and Android and has the cryptocurrency custodied at Gemini Trust Company LLC.