Canadian Robinhood crypto Exchange lists Shiba Inu token

On Nov 5, 2021

BIRMINGHAM, ENGLAND - MARCH 10:A Japanese Shiba Inu on day three of the Cruft's dog show at the NEC Arena on March 10, 2018 in Birmingham, England. The annual four-day event sees around 22,000 pedigree dogs visit the center, before the 'Best in Show' is awarded on the final day. (Photo by Richard Stabler/Getty Images)

Wealthsimple crypto trading platform listed Shiba token to allow their users to trade with trending meme coin.

Wealthsimple is a Canadian Toronto-based online brokerage platform that allows crypto trading for limited numbers of flagship assets. Just like the Robinhood platform, Wealthsimple doesn’t allow its crypto users to withdraw or deposit crypto from third-party platforms.

On 5 November, Wealthsimple announced the support for Shiba inu to follow the crypto trend with Shiba inu coin.

It's official: $SHIB has joined $SOL, $ADA, $DOGE and more on Wealthsimple Crypto. As always, remember to research before trading.
— Wealthsimple (@Wealthsimple) November 4, 2021

It is worth noticing, through the announcement tweet, Wealthsimple said that “remember to research before trading”. This caution phrase by the Wealthsimple firm shows the company’s insecurity to list the Shiba inu coin.

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Welathsimple entered in crypto space by launching its subsidiary with the name “Wealthsimple Digital assets” in July 2020. Before the entry of Wealthsimple in crypto, took full regulatory approval from the Ontario Securities Commission (OSC).

In the very starting, Wealthsimple allowed Bitcoin & Ethereum trading but later, the firm listed 14 new digital assets like Sol, Cardano and meme coin (Doge). But the latest listing of Wealthsimple confirmed the existence of two meme coins on the same platform.

At the current time, Wealthsimple has a total of 1.5 million active users.

Criticism against Wealthsimple

There are several crypto platforms available in the crypto industry and also even in local Canada, which allows crypto deposit and withdrawal facilities. But Wealthsimple doesn’t allow its users such kinds of facilities to prohibit any kind of possible illegal crypto activities. For such limited crypto services, Welathsimple was criticized by its customers many times.

But with the listing of the Shiha inu token, it is getting better fame in the crypto space because it decides to list even though its operations of crypto services are much similar to Robinhood crypto exchange, which indirectly denied to list Shiba because of security reasons for their users.