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Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
Buy and sell 16+ cryptocurrencies in just a few taps with Wealthsimple Crypto. There’s no long list of fees or account minimums. Just simple and secure crypto trading of Bitcoin (BTC)[…]
At this time, Wealthsimple Crypto only supports the ability to deposits and withdrawal Canadian dollars to and from the platform. We’re unable to accept any transfers of existing cryptocurrency held at other institutions or in a private wallet!
They also have a service called Wealth Simple Crypto. To quote:
Any cryptocurrency you buy is held by Gemini Custody, a regulated crypto custodian. Gemini is regularly audited and subject to the compliance standards of a traditional financial institution.
Users cannot send or receive BTC since the primary method of deposit and withdrawals is in fiat currency.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.