Shakepay Review How Does This Crypto Exchange Compare?

Shakepay Review How Does This Crypto Exchange Compare?

Since 2015, Shakepay has made it easy to buy and sell Bitcoin (BTC) and Ethereum (ETH) using Canadian dollars. Shakepay has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, TikTok and YouTube. Netcoins is a registered MSB with FINTRAC and registered with the British Columbia Securities Commission (BCSC) and the Canadian Securities Administrators (CSA).

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Depending on the offer available at the time, you both get $5, $10 or $30 after they verify and make a purchase of $100 or more. The platform also uses SSL- encryption and 2-Factor Authentication to protect your account. If you want to trade other popular coins such as Litecoin, Dogecoin, Cardano, Ripple, or Stellar, you will need to look elsewhere. Sometimes, you may also need to verify your address by sending a copy of your utility bill or bank statement. It is based in Montreal and has served more than 1,000,000 Canadians who have bought or sold $7 billion worth of crypto using the site. In addition to Shakepay Canada, crypto investors can also use the likes of Bitbuy, Newton, Coinsmart, and Wealthsimple Crypto.

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However, NDAX isn’t going to be as beginner-friendly as Shakepay, meaning it probably won’t be the best option for crypto investors interested in the simplest way to buy digital assets. Cardholders can shop worldwide (with a 3% foreign transaction fee) and pay via Apple Pay or Google Pay with no annual fees or credit checks. You can store or cash out your rewards at any time and easily load your Shakepay Canadian dollar balance with the Interac e-Transfer. Once you qualify and load up your balance, every purchase with the Shakepay card will automatically settle to the bitcoin balance in your Shakepay account.

You will earn $20 per referral that sign-up through your link and meet the eligibility. Shakepay is a crypto broker founded by Jean Amiouny and Roy Breidi as far back as 2015. The broker is based in Montreal and is regulated by FINTRAC and AMF. Below is a highlight of the Shakepay key features as of the time of writing.

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They also have a mobile app that makes it easy to manage your cryptocurrency on the go. To find the best Canadian crypto exchange, I bought Bitcoin on 18 platforms to compare total fees, prices, and spreads. The total BTC selling fee was 1.21% (5th place) and the spread was 2.26% (12th place) on the day we tested.

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In addition to their website, Shakepay is also available as an app for iOS and Android. All purchases made with the Shakepay Card earn users a 1% Bitcoin cashback. It appears to be a prepaid visa card that will not impact your credit score. Hey there, I’m really sorry to hear you’ve had a negative experience with Shakepay. As always, your security is our top priority and sometimes that involves placing a hold on accounts.

• Shakepay is a secure cryptocurrency broker, and it is commission-free, fast, and safe to use.
• The growing popularity and adoption of cryptocurrencies over the past few years has led to the emergence of several crypto trading platforms in Canada.
• What they offer is simple and very clear, largely because of their focus on the mainstream Canadian market.
• You guys have a horrible customer service and a horrible customer service employee named Joey that does not know what means providing a service.
• This information will be checked via the Securefact database to ensure you are a legal Canadian citizen.
• Shakepay’s growth across Canadian provinces stands as proof of consumer interest in digital currencies as well as Shakepay’s capacity to meet this growing demand for them.

Now, let’s dig deeper into their services and see where they excel and where there’s room for improvement. Yes, Shakepay is FINTRAC registered in Canada and obtaining OSC registration in Ontario, showing their commitment to regulatory requirements. I will be available in the comment section for any further clarification you may have.

• Read a detailed breakdown of their service in this Shakepay review.
• Shakepay is currently focused on providing buy and sell functionality for the two most popular cryptocurrencies in the world.
• They refused to justify this because they are not obligated with the Terms and Service agreement.
• People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
• For this Shakepay review, we performed in-depth research and put the exchange to the test to see if it lives up to its overwhelmingly positive reputation.
• For more experienced traders, however, other platforms may be more desirable as Shakepay doesn’t allow you to store your private keys when you have funds stored in their app.

The company was founded in 2015 and has never been hacked or lost users funds. They use cold storage, which ensures crypto holdings are held offline, away from hackers. With Shakepay, you can deposit and withdraw Canadians dollars free and quickly with e-transfer or bank wire, making it a great fiat on-ramp and off-ramp for Canadians. Both Bitcoin and Ethereum withdrawals are also free because Shakepay covers the miner fees and gas shakepay review fees. Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he’s passionate about personal finance, investing and helping people take control of their financial life.

The biggest thing differentiating the two companies is that with Newton, you can trade over 25 currencies, one of, if not the highest total for a Canadian crypto exchange. Canadian cryptocurrency exchanges vary in the way they charge fees. Shakepay makes money on the spread, which is built into the price when you buy or sell. As financial technology develops further, Shakepay acts as an entryway into digital currency for Canadians looking for entry. Shakepay is a Canadian crypto money service business where customers can easily buy and sell bitcoin and ethereum on their desktop or through the Shakepay app.

The Shakepay Card has no monthly or annual fee and it can be used to make online and in-store purchases. Despite offering access to free trading, deposit and free withdrawals, Shakepay still offers a welcome bonus of $20. While you can’t make the wrong choice with Shakepay, you still need to know about its offerings and how it compares to the other crypto platforms in Canada. And that’s exactly what this Shakepay review will help you achieve. Excellent site in regards to security and navigation.After several BTC purchases I’ve found the process extremely easy and trouble-free (so far). The fee-structure was weird and confusing, thought I was being scammed but have figured out how they work it and have concluded it to be fair (so far).

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They also appear to be registered with FINTRAC, Canada’s money laundering and terrorist activities watchdog. Here are some other ways Shakepay keeps your information and your crypto safe. Shakepay makes money on the buy and sell price, by charging a slight premium to the buyer and seller. You can find the buy and sell prices on the Buy and Sell page of the Shakepay app.