Further musings on moving assets around

Further musings on moving assets around

By garethvjones | Crypto Nomad | 17 Nov 2022


I’ve been giving more thought to moving my crypto into Wealthsimple following my recent post on the subject

The thing is, whilst Wealthsimple allows you to buy and sell crypto, and they’re regulated here in Canada, they’re not actually a crypto exchange. More like a middleman between yourself and the exchange. On the plus side, they do mention that they don't charge any fees to deposit and withdraw. Now the exchange they use, or the custodian as they call it, is Gemini Custody. They're insured in the US, so that makes them perfectly safe right?

I'm actually quite torn between where to safely store all my crypto. I understand that I can put it in cold storage, on a trusted exchange here in Canada, or leave it all on crypto.com. Is there no sure fire safe place to call home when it comes to crypto? There are so many options aren't there, and it's difficult to find a one-size-fits-all solution.

Maybe the answer is to put a little bit of each currency into different exchanges? I think that would become troublesome to manage to be honest. But I don't know.

Whilst we're on the subject of Wealthsimple, I've included my referral code so that, if you decide to sign up using my link, we'll both get some free cash from them. Not a bad deal actually.

Anyway, I've opened an account with OWNx to diversify my portfolio with some gold and silver. They've always been good assets to hold on to, right? 

Photo credit: Pixabay

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