Hi there. In this crypto post, I talk about the latest crypto coins that are available for Canadians using the Newton Exchange and the Wealthsimple Crypto application.
Yes there is Coinbase as an option for Canadians. I do refer to Canadian crypto exchanges as exchanges that have offices in Canada.
- Wealthsimple Crypto Offers More Than BTC and ETH Now
- Newton Exchange New Coin Offerings In June 2021
Wealthsimple Crypto Offers More Than BTC and ETH Now
Wealthsimple Crypto is one part of the the Canadian online investment management service Wealthsimple Inc. Wealthsimple is a financial services company whose primary target group is millenials. Wealthsimple also has Wealthsimple Invest, Wealthsimple Trade for Canadian stocks and some American stocks, Wealthsimple Cash and Wealthsimple Tax.
Wealthsimple Crypto was first launched on September 22, 2020. The only coin offerings were Bitcoin (BTC) and Ethereum (ETH). Customers under Wealthsimple Crypto can only buy and sell cryptos. Cryptos are stored with their custodian which is Gemini Custody.
On June 21, 2021
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Basic Attention Coin (BAT)
- Balancer (BAL)
- Chainlink (LINK)
- Compound (COMP)
- Curve (CRV)
- Kyber Network (KNC)
- Maker (MKR)
- Synthetix (SNX)
- Uniswap (UNI)
- Yearn.Finance (YFI)
Newton Exchange New Coin Offerings In June 2021
Newton is a Canadian crypto exchange amongst many in Canada. Competitors for Newton are Wealthsimple Crypto, Netcoins, Coinberry, Coinsquare, Bitbuy Shakepay and VirgoCX.
On June 14, 2021, DOGE was available for trading, funding and withdrawals for Newton customers.
On June 23, 2021 the exchange has added five new coins. These 5 coins are Polygon (MATIC), AAVE, Compound (COMP), Uniswap (UNI) and Chainlink (LINK). In the news article, Newton also mentions that four new coins are coming next week with more coins on the way.
Newton's coin offerings are now:
- DOGE (new)
- LINK (new)
- AAVE (new)
- UNI (new)
- COMP (new)
- CRV (Curve)
- SNX (Synthetix)
With these crypto offerings, I do think that Newton has the largest crypto offerings from the Canadian exchanges. Newton also has some cryptos that most of the competitors in Canada do not have. (Would have to check)
With all these crypto exchanges in Canada, you do have to verify your identity. Those who do not like identity verification and Know Your Client (KYC) type forms can consider buying cryptos on exchanges like Binance, Kucoin and OKEx.
Some of the coins in these new offerings from Wealthsimple Crypto and Newton are the same. These would be UNI, AAVE, LINK and DOGE.
Balancer (BAL), Kyber Network (KNC), BAT, Yearn.Finance are exclusive to Wealthsimple Crypto while Polygon (MATIC) is exclusive to Newton from the new coins.
The timing of Dogecoin is late for these two exchanges in my opinion. Timing would of been better before Elon Musk's appearance on Saturday Night Live.
Even though there is no trading on Wealthsimple Crypto so far, buying and holding may not be that bad. Buy low, sell high.