Shakepay Review How Does This Crypto Exchange Compare?

Shakepay Review How Does This Crypto Exchange Compare?

Users can add funds or deposit cryptocurrency after completing the application and verification processes. Because this is a cryptocurrency exchange platform, the primary focus is on trading digital currencies with effective rates of 1.75 percent and converting them into money. Starting your Bitcoin and Ethereum trading adventure with Shakepay is a breeze.

Shakepay does not charge any fees when you deposit or withdraw funds. If you plan on trading currency pairs, you can buy Bitcoin or Ethereum on Shakepay and transfer them to your wallet on another exchange if it makes sense fees-wise. This is a regulatory requirement in Canada for money service businesses. In general, accounts are automatically verified by running an identity check. All centralized exchanges, including Shakepay, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds.

Meet Our Reviewing Team

Click “Spot” and then “Deposit” next to the cryptocurrency you want to send. Open Shakepay, click “Send,” paste the Address, enter the amount you wish to send, and confirm the transaction. Finally, Netcoins’ support team is revered for their helpful input, friendly personality, and professional behaviour, which is especially beneficial for beginner investors. So if someone calls you claiming to be a Shakepay employee, it’s most likely a scam.

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.

Customer service & brand

• Its user-friendly interface, clear fee structure and robust security measures distinguishe it as one of the premier exchange platforms available today.
• While Shakepay does not charge commissions, it has a variable price spread that can cost you up to 3% on both ‘buy’ and ‘sell’ transactions.
• While this may not be a problem for traders that are strictly interested in trading only these coins, the broker may be unsuitable for investors looking to trade multiple coins.
• Although the platform is still developing when considering its features and coins available, Shakepay stands out with its cost-effective fee structure.
• An honest guy that just can’t seem to get ahead to injustice claims.
• You can also earn free Satoshis daily through its ShakingSats feature and setup recurring crypto purchases.

Purchased bitcoin, no holds preventing transfer to separate wallet. Also sold btc and sent money to my bank via etransfer, was 5 minutes to receive etransfer. This Shakepay review covers how it works, fees, and whether it is safe.

See how Shakepay Compares with Other Canadian Crypto Exchanges:

Fast transfert, fees are very abordable compare to other wallet. After account verification is completed, you can add funds using Interac e-Transfer, wire transfer, or deposit crypto (Bitcoin and Ethereum). While Shakepay does not charge commissions, it has a variable price spread that can cost you up to 3% on both ‘buy’ and ‘sell’ transactions. The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you.

Yes, it is a licensed Money Service Business regulated by FINTRAC and the AMF. It also has a strong track record of safety and uses cold wallets to secure users’ crypto investments. Our extensive analysis of the Canadian Crypto Exchanges doesn’t stop here. You can also read our best crypto exchange Canada 2023 Guide to find an alternative to Shakepay. Opening a Shakepay account is simple and takes no time at all. First, download the Shakepay app from Google Play or the app store, both of which have high ratings and usually sit at the top of the Canadian crypto app leaderboards.

Shakepay Coins

• The equivalent CAD amount is debited from the account when used for payments.
• Shakepay’s key difference between many of the other exchanges on the market is how easy it is to get started and purchase cryptocurrency in a matter of minutes.
• Supported platforms include Google Pay, Apple, and other online platforms that support Visa crypto credit cards or debit cards worldwide.
• Once you provide the required information and documents, Shakepay will approve your request instantly or within 1-4 business days in the case of manual verification.
• As an approved Money Service Business, Shakepay incorporates multiple layers of protection measures for user assets and personal data.
• Helping Canadians trade and invest in Bitcoin and Ethereum only, it’s an ideal starting point for everyday Canadians looking to purchase crypto and digital assets.

The $20 bonus will be automatically deposited into your Shakepay account afterwards. Nevertheless, the collection of coins is not the only factor to determine whether or not a crypto trading platform is the best. While Shakepay doesn’t charge trading, deposit and withdrawal fees, its quoted prices include a variable spreads that’s usually between 1%-1.2%.

Yes, Shakepay holds an insurance policy on cryptocurrencies held in cold storage. Shakepay is designed to get your account set up, verified, funded and ready to buy within 10 minutes. Once you are up and running, you can buy or sell crypto instantly through their website or app. Promoted as “the easiest way for Canadians to buy and sell bitcoin”, is Shakepay the best way for Canadians to get in on the crypto revolution?

Newton vs. Shakepay

Shakepay is an MSB (money services business) regulated by FINTRAC. Founded in 2015, the exclusively Canadian app has over 1 million users. Sign up in as little as 10 minutes, and start buying crypto immediately with no commissions and no deposit or withdrawal fees (crypto network fees and spreads apply). Buy and sell Bitcoin and Ethereum on Shakepay, one of Canada’s most popular crypto exchanges.

I have been with them with for awhile, and I shared my private information with them to get verified. For canadian citizens, it is the best App to use to buy Bitcoin and Ethereum easily. You can “shake” your phone every day to have free bitcoin (around shakepay review 0.10$ to 1.50$) .