Wealthsimple, a Canadian company specializing in financial services, will be adding cryptocurrency trading to its mobile app. Thanks to this addition, its clients will be able to buy and sell cryptocurrency. All of this will become available without leaving the platform, according to Yahoo.
Although Canadians have access to crypto trading, they typically have to use external platforms for managing their crypto assets. However, cryptocurrency seems to be an object of interest among many citizens. As a result, introducing such a service will be beneficial for the company.
Once the service becomes public, it will allow Canadians to perform cryptocurrency trading commission-free within the Wealthsimple app. The trading platform will be available all the time, with constant updates on the changes in cryptocurrency rates. Canadian dollars will be the main currency of exchange.
This seems to offer a good way for the clients to access crypto markets. However, financial experts do not believe in the success of the initiative in the long run. On the other hand, there are investors that place a high value in crypto assets. Those are saying that their price movements can generate profit.
Financial experts who oppose cryptocurrency investments speak about the inability to trace the ownership of the assets. Moreover, it is not possible to take back the funds after sending the payment.