Wealthsimple Crypto vs Newton vs Shakepay: Complete 2025 Comparison

The Canadian crypto scene has changed. A lot.

Remember when we had to wire money to sketchy offshore exchanges and hope it actually arrived? Those days are gone. In 2025, it’s really a three-horse race: Wealthsimple Crypto, Newton, and Shakepay.

So, which one is actually the best?

Here’s the honest truth: There isn’t one.

I’ve used all three. Each one is great at something specific, and terrible at something else. One is my go-to for regular buys. Another is where I hoard my long-term holds. And one is just for the altcoins I can’t find anywhere else.

Here is the complete, no-fluff breakdown of Wealthsimple Crypto vs Newton vs Shakepay to help you figure out which one fits you.

Quick Comparison Overview

Fee Structure Analysis

Crypto fees are a headache. And companies love to hide them. Some charge a commission. Others hide their cut in the “spread” (the gap between the buy and sell price).

Wealthsimple Crypto

Wealthsimple is transparent. They charge an operation fee on every trade. The percentage just depends on how much cash you have with them:

• Core (Under $100k): 2% fee
• Premium ($100k+): 1% fee
• Generation ($500k+): 0.5% fee

Pros: You know exactly what you’re paying. If you’re a Generation client, 0.5% is incredibly cheap for a platform this regulated. Cons: If you’re starting small (Core tier), that 2% fee hurts. A lot.

Newton

Newton claims “no fees”. But that’s marketing speak. They make money on the spread.

• Spread: Usually 0.50% to 0.70% for BTC/ETH, but can be 3-6% for less liquid altcoins
• Surge Pricing: Heads up—when the market goes crazy, these spreads can widen.

Pros: For the average person just trading altcoins, this is often the cheapest option. Cons: The “no fee” tag is misleading. You are paying a fee; you just don’t see it on a separate line.

Shakepay

Shakepay is the easiest app to use. Period. But you pay for that convenience.

• Spread: Typically 1.5% to 2%

Pros: They cover withdrawal gas fees. This is huge. I’ve saved hundreds of dollars in ETH gas fees just by using Shakepay. Cons: Don’t day trade here. The fees will eat you alive.

Staking & Rewards

If you’re holding for the long run, you might as well get paid for it.

Wealthsimple Crypto: The Staking King

Wealthsimple lets you stake Ethereum, Solana, Cardano, and Polkadot.

• Yield: Varies (currently ~3-5% for ETH).
• Convenience: It’s one click. Seriously.
• Cost: They take a cut (30% for Core, 15% for Generation), but frankly, avoiding the technical headache of on-chain staking is worth it for most people.

Shakepay: The “ShakingSats” Phenomenon

Shakepay doesn’t do staking. But they have ShakingSats.

• How it works: Open the app. Shake your phone. Get free Bitcoin.
• The catch: You need a referral code to unlock it.
• My take: It sounds silly, but I do it every morning. It’s small amounts, sure. But over a year? It adds up to a nice little stack of sats for literally zero effort.

Newton

Newton is purely for trading. No staking. No shaking. Just buying and selling.

Crypto Withdrawals: A Key Difference

This is the big one. Do you leave coins on the exchange, or move them to a cold wallet like a Ledger?

• Shakepay (Winner): They pay the miner fees. If you buy $50 of Bitcoin and send it to your wallet, you get the full value. This makes Shakepay the ultimate “on-ramp.”
• Newton: You pay the network fees. For ETH, this can get pricey.
• Wealthsimple: You pay the standard network fees.

The Verdict: Which Platform is For You?

Like I said, there isn’t one winner. It depends on you.

Choose Wealthsimple Crypto if:

You want it all in one place. If you already check Wealthsimple for your RRSP and stocks, seeing your crypto right next to it is just convenient. It’s also the clear winner for high-net-worth investors who get those low fees, or anyone who wants staking rewards without the stress.

👉 Sign up for Wealthsimple (Code: 9C6DMQ for $25 bonus)

Choose Newton if:

You’re hunting for altcoins. Maybe you want SOL or DOT but don’t have $100k for Wealthsimple Premium. With 70+ coins and tight spreads, Newton is the sweet spot for the average Canadian trader who wants variety without getting gouged.

👉 Sign up for Newton (Code: JPPX31 for $25 bonus after trading $100)

Choose Shakepay if:

You’re a Bitcoin or Ethereum purist. And you love self-custody. The free withdrawals make it the perfect place to buy your BTC and immediately move it to your hardware wallet. Use the referral code, unlock ShakingSats, and get your free daily stats. It’s a no-brainer.

👉 Sign up for Shakepay (Code: 059XIVK for $20 bonus after trading $100 worth of BTC or ETH)

Frequently Asked Questions

Which platform is safer?

They’re all solid. Wealthsimple Crypto is a CIRO-registered dealer—that’s the gold standard for regulation here. Newton and Shakepay are registered with FINTRAC. Wealthsimple uses Gemini for custody with $200M insurance, which gives me a lot of peace of mind.

How long does it take to unstake my crypto on Wealthsimple?

For Ethereum, there is a warm-up and unbonding period that can take several days to weeks depending on network congestion (usually a queue + ~27 hours). You won’t be able to sell these assets until that period is over. So its not instant.

Why can’t I buy USDT (Tether) on Wealthsimple?

Tether (USDT) is the world’s most popular stablecoin, but it is effectively banned on regulated Canadian platforms. Wealthsimple is a fully compliant restricted dealer under the OSC, meaning they only list approved assets like USDC.

How do I get my crypto tax documents from Wealthsimple?

Preparing for taxes? If you’re looking for wealthsimple crypto tax documents for Koinly, it’s actually quite simple. Unlike some platforms that require complex API keys, Wealthsimple provides a dedicated “Crypto Realized Gain Loss Report” (CSV) in the app’s documents section. You can simply download this file and upload it directly to Koinly.

Is there a limit on how much crypto I can withdraw to my wallet on Wealthsimple?

Yes, there is a limit. For security, the wealthsimple crypto withdrawal limit daily is typically set around $10,000 CAD equivalent (or $25,000 weekly). This is important for “whales” or anyone moving large sums to self-custody. Competing platforms like Newton or Shakepay may have different limits, so check this if you plan to move high volumes frequently.

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