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If you watch Canadian television or sports broadcasts, you have seen plenty of commercials for both Bitbuy and Wealthsimple.
Both platforms are household names in Canada, and both are fully compliant with Canadian provincial securities regulators.
However, when you look past the branding and analyze the actual fee mechanics, here is how they stack up against each other — and where both fall short compared to alternatives like Newton and NDAX.
Direct Head-to-Head Comparison
| Feature | Bitbuy | Wealthsimple Crypto | Winner |
|---|---|---|---|
| Parent Company | WonderFi (TSX: WNDR) | Power Corporation of Canada | Tie (Publicly Backed) |
| Instant Buy Fee / Spread | ~1.50% – 2.00% | 1.50% – 2.00% | Tie |
| Pro Order Book Fee | 0.50% maker / 1.50% taker | Not Available (Broker Only) | Bitbuy |
| Supported Cryptocurrencies | 40+ Coins | 60+ Coins | Wealthsimple |
| Fiat Deposit / Withdrawal | Free Interac Deposits / $0–$1.50 Withdrawals | Free Interac Deposits & Withdrawals | Tie |
| Traditional Stocks & TFSAs | No (Crypto Only) | Yes (Stocks, ETFs, Cash) | Wealthsimple |
The Third-Option Reality: Where Both Lose to Newton & NDAX
While Bitbuy edges out Wealthsimple for dedicated crypto trading, neither platform offers the lowest trading costs in Canada.
If you are trading $1,000 CAD or more, look at how the broader market compares:
- NDAX (Calgary): Flat 0.20% trading fee. On a $1,000 trade, you pay $2.00 CAD.
- Newton (Toronto): Spread of ~0.80% with $5 covered on-chain withdrawal fees. On a $1,000 trade, you pay ~$8.00 CAD.
- Bitbuy Pro: 0.50% to 1.50%. On a $1,000 trade, you pay $5.00 to $15.00 CAD.
- Wealthsimple Crypto: 1.50% to 2.00%. On a $1,000 trade, you pay $15.00 to $20.00 CAD.
Our Honest Verdict: If you are choosing strictly between Bitbuy and Wealthsimple, Bitbuy wins for crypto traders. But if your primary goal is maximizing the amount of Bitcoin you receive for your Canadian Dollars, Newton and NDAX offer objectively better pricing.
Who Should Pick Wealthsimple?
- Total Financial Simplicity: If you already manage your salary, savings, RRSP, and stock portfolio in Wealthsimple and simply want $100 of casual Bitcoin exposure without creating another account.
- Wealthsimple Generation Clients ($500k+ assets): Your crypto fee drops to 0.50%, making Wealthsimple much more competitive.
Who Should Pick Bitbuy?
- Canadian Order-Book Traders: If you want a Canadian platform with limit orders, stop losses, and 1:1 Bitcoin cold storage insurance.
- WonderFi Ecosystem Users: If you want an established Canadian crypto platform with an active OTC trading desk.