Wealthsimple Crypto is the cryptocurrency portfolio management service of the popular Canadian Robo-advisor platform Wealthsimple. Wealthsimple provides an easy and automated way to invest in diversified portfolios of low-cost ETFs. Wealthsimple Crypto works the same way, except that it's dedicated towards making cryptocurrency a straightforward investment for anyone.
Like other Wealthsimple products, it features no account minimum balance, no fee on deposit or withdrawal, and commission-free trading. However, despite all that, it is still rather inadequate on grounds that it doesn’t offer a large number of cryptocurrencies. In addition, it lacks cryptocurrency trading automation features.
In stark contrast, Botsfolio is an automated cryptocurrency trading bot platform for both beginners and experienced traders, investing in popular coins such as Bitcoin, Ripple etc. It practically runs creating , managing and overseeing a cryptocurrency portfolio on auto pilot. All you gotta do is connect it to your cryptocurrency exchange, allocate some funds to the portfolio, answer a few questions to set your investment goals and it does the rest. You’ll watch your portfolio grow, without getting bogged down with having to do constant risk monitoring and management of your portfolio. It features:
In this article, we will explore how Botsfolio ticks in all the right boxes for cryptocurrency investment , far better than Wealthsimple Crypto can, at least at this time, for newbie as well experienced traders.
|Sign-up by providing your email and a password||Sign up|
|Download the Wealthsimple trading app to your device.||Connect with or Create an account with Binance or Coinbase Pro|
|Open a cryptocurrency account.||Pick a strategy (we make it real simple for you to choose as per your goals)|
|Make a deposit and start trading||Start your trading bots.|
|Serves Canadian investors only||Global reach and service|
|Buy or Sell 29 different cryptocurrencies||Bot-trading 118+ cryptocurrencies|
|Supports Deposits and Withdrawal through Bank Account Only (CAD)||Supports deposits and withdrawals through multiple methods, including Crypto|
|No Trading Automation Available||Automated Bot Driven Trading|
|Only 2 Trading strategies available - Market Orders and Limit Orders||4 Trade strategies available - Value Investing, Hedged Trading, Futures Trading, Fixed Income|
|Limited to Canadian Nationals||Open to global Investors|
|Portfolio Creation is not Automated||Portfolio is created Automatically based on Investment Goals, Life Choices and Risk Tolerance specified by the Investor|
|Portfolio Management is not Automated Either||Portfolio Management is driven by Machine Intelligence, Guided by Goals, Risk Level chosen earlier and market signals|
|No Investment Goal Setting||Life Choices based Investment Goal Setting : Long-Short Term and High – Low Risk setting flexibility.|
|Risk Management is Investor Responsibility||Risk Management is automated through diversification of funds , bot trading and monitoring of market signals|
Nearly all trading platforms employ referrals as a tool to build user base and brand loyalty at the same time. The more fair terms and value of referral rewards, the more enticing it gets joining it.
|As detailed here, the referral program offers to add a random stock worth $5 minimum to the account, on preconditions of the referred clients: a) being a new registration b)adding money to the newly created account||Botsfolio Referral program offers flat $10 in crypto added to the account , whenever a referred client simply registers.|
|Electronic Funds Transfer (EFT) only||Multiple Payment Methods Supported|
|Takes up to 5 Days to fund Account||Instant funding when payment received|
|Cannot Transfer Crypto Out||Crypto stays on your exchange and can be moved around freely on exchange|
|Trading Fee - 1.5%-2% per transaction||Zero Trading Fee|
|Extremely High Spreads and Fees||Reduced Risk by Intelligent Trading|
Botsfolio and Wealthsimple Crypto have the same objective for investors: to provide a simple, low-cost way of trading cryptocurrency. If your interest is in few crypto coins and limited trade options only, you might prefer Wealthsimple Crypto, but if you prefer access to more assets, ease of trading portfolio management through automation, and superior, hassle free risk management then Botsfolio is the better choice.
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