Wealthsimple's crypto thing - I was dead wrong about it

I rolled my eyes hard when Wealthsimple started pushing crypto back in 2020. Figured it was just another gimmick to get young people to dump money into doge or something stupid. But after I tossed $200 into their crypto account just to test it, the interface was so damn simple I ended up actually learning about blockchain from their little explainers. Now I use it for like 5% of my portfolio and it's been fine. Anyone else change their mind on a fintech product after actually trying it?

3 comments

3 Comments

the_aaron1mo ago

Five percent is a pretty small slice, so I get why it doesn't feel like a huge risk for you. But I still think these crypto products are just a way for companies to make fees off people who don't understand how risky digital money really is. The simple interface just makes it easier to lose your cash without really knowing what you're getting into.

the_nathan1mo ago

Your boy the_aaron acting like Wealthsimple invented hidden fees or something lol. Their spread on crypto is like 0.5% which is way less than Coinbase or any exchange I checked. I moved $50 in Bitcoin over just to see what happens and they literally showed me the fee breakdown before I confirmed. Felt like I was doing my taxes or something.

king.robin1mo ago

Wait, they actually showed you a fee breakdown before you hit confirm?