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Buy Crypto with Simplii Financial

Buy Crypto with Simplii Financial

Karen Tren
Fact Checked
October 9, 2022

Summary: The Simplii Financial online banking platform does not offer any products or services for its customers to invest in cryptocurrencies. This means that you will need to transfer Canadian Dollars (CAD) from your account to a licensed crypto broker in Canada.

If you are looking to get started quickly, we recommend the Uphold exchange. They offer secure CAD deposits from Simplii online banking to buy and sell over 200 cryptocurrencies with zero fees. Their platform also offers crypto staking with interest of up to 25% APY on 30 different coins.

Table of Contents

Uphold - Canada

  • Trade 200+ Cryptocurrencies with Canadian Dollars (CAD).
  • Stake Crypto and Earn up to 25% APY on your assets.
  • Trade Crypto, Stocks, ETFs & Metals with zero fees on a regulated platform.

How to Buy Bitcoin or Crypto with Simplii Financial

As mentioned above, the easiest way to invest in digital assets with a Simplii Bank account in Canada is with the Uphold platform. They offer instant deposits via Interac e-Transfer, Debit Card or Credit Card to trade 200 of the most popular cryptocurrencies with zero trading fees and tight spreads.

You can get started in minutes with our simple guide:

  1. Sign up to the Uphold exchange.
  2. Deposit CAD via Simplii Online Banking with a Bank Transfer, Debit Card, Credit Card, Google Pay or Apple Pay deposit.
  3. Find the Crypto you want to buy on the platform.
  4. Input the CAD amount you want to buy and execute your trade.
Buy Crypto Simplii Financial
Deposit CAD with Simplii Financial to Buy Crypto.

Is Simplii Financial Crypto-Friendly?

Yes, Simplii Financial is a crypto-friendly bank because they allow customers to deposit funds into regulated exchanges to buy and sell digital assets.  This shows that the company is supportive of the growing digital economy and offers its customers a way to participate in it.

Additionally, Simplii Financial has been working with BitPay to accept Bitcoin as a form of payment for products and services. This partnership allows customers to use Bitcoin to pay for things like online shopping, travel, and more. Overall, Simplii is a crypto-friendly bank that is supportive of the digital economy.

Can I Stake Digital Assets with Simplii Bank?

No, at this time you cannot stake digital assets with Simplii Bank. However, you can deposit your crypto into a licensed exchange like Uphold and earn interest on your holdings up to 25% APY.

About Simplii Financial

Simplii Financial is a Canadian direct banking brand owned by the Canadian Imperial Bank of Commerce (CIBC). It offers no-fee chequing and savings accounts, guaranteed investment certificates, personal loans, and mortgages. Customers can access their accounts online or through mobile apps.

Simplii's online banking platform was launched in November 2017 as CIBC's direct banking brand, following the exit of President's Choice Financial from CIBC.

Simplii offers a no-fee chequing account with unlimited transactions, free Interac e-Transfers, and free withdrawals at CIBC ATMs. It also offers a no-fee savings account which provides a competitive interest rate and no minimum balance.

Simplii Financial's products are available exclusively online and through mobile apps. Customers can open an account in minutes and there are no monthly fees. The bank is a great choice for Canadians who are looking for a simple banking experience with no hidden fees. The accounts are easy to open and use, and there are no monthly service charges. Customers can access their accounts 24/7 through online banking or mobile apps.

Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

Karen Tren
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