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