Personal data is stored using 256-bit AES encryption, as is standard in the industry. Shakepay has implemented an initiator/approver set up to store sensitive data securely. I will be available in the comment section for any further clarification you may have. Below are the top pros and cons of Shakepay that you need to consider when determining if it’s perfect for you.

The app let me buy crypto, then would not let me sell when I tried. I lost hundreds of dollars because their app would not let me sell at the shakepay review time Bitcoin was at a higher value. The app finally allowed me to buy/sell after a couple days (by then Bitcoin was down significantly).

1. There are two ways to fund your account with Canadian dollars, eTransfer or Wire Transfer, and both are free.
2. While you can see your transaction history from the desktop platform, details are limited.
3. Shakepay’s app has a lock option for privacy and security.
4. It also offers a great mobile app that makes buying and selling cryptocurrencies on the go very easy, but we’ll get to that later.
5. Claim your profile to access Trustpilot’s free business tools and connect with customers.

Otherwise, you can transfer in Bitcoin (BTC) and Ethereum (ETH) from an external crypto wallet. Shakepay does not charge any fees for this, but your transaction may be subject to blockchain network fees. At the time of writing, only Bitcoin (BTC) and Ethereum (ETH) are available on Shakepay. That’s because Shakepay is specifically designed to be an easy, beginner-friendly on-ramp to the crypto market rather than a fully loaded trading platform.

Most appauling investment experience ever…

While we are independent, we may receive compensation from our partners for featured placement of their products or services. No, Shakepay makes money on the spread which means you are paying a small markup whenever you buy or sell. Other than these spreads on BTC and ETH, there are no fees on Shakepay. In my test, Shakepay’s spread was 2.26% which ranked 12th place out of 18 platforms. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.

Withdrawals

Since its 2015 launch, the company has served over a million Canadians who’ve used the platform to trade over $7 billion worth of crypto. Very good exchange, easy access on connecting bank. Get home insurance in 5 minutes for as little as $12/month.

The Bottom Line: Is Shakepay Worth It?

Users first need to deposit CAD into their accounts to buy or sell cryptocurrencies on Shakepay’s website. To earn FREE Bitcoin every day, open the mobile app and shake your phone. Shakepay will then add Satoshis (Sats), the lowest unit of Bitcoin, to your BTC wallet.

The growing popularity and adoption of cryptocurrencies over the past few years has led to the emergence of several crypto trading platforms in Canada. Users can buy and sell digital cryptocurrencies like Bitcoin and Ethereum on Shakepay. The platform’s goal is to usher in the “Bitcoin Golden Age” by making it easier to buy and sell bitcoin. My personal preference is to pay a commission fee because it feels more transparent. You know exactly what you’re paying, whether the fee is .20% or .60%.

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Also, you will not be able to send/receive crypto to/from external wallets. You’ll need to log into the mobile app to access that function. Shakepay supports over 2 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Solana, which are in the top 20 cryptos by market cap. In total, 2 of the top 20 cryptos are available on Shakepay.

As a prepaid visa card, it operates much like a debit card and no credit check is required to get the card. To open a Shakepay account, you must be a Canadian resident or permanent resident and have a valid Canadian phone number. The registration process is simple and quick, just make sure to have your driver’s license nearby as it will be needed to verify your identity. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

Shakepay and Newton both offer $0 fees and commissions, but Newton does not have a crypto card. Shakepay features a user-friendly web platform that is great for beginners. The platform has a sleek design and is easy to navigate. One of the great things about the Shakepay web platform is that it provides users with all of the information they need to make informed trades.

Absolute crap business

Best of all, Hardbacon users receive a $20 account credit when they choose Square One. Because of that, Shakepay is one of the cheapest places to buy/sell BTC and ETH. In my case, the cost was even lower than NDAX, which is typically known for having the lowest fees in Canada.

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 0.10$ to 1.50$) . Fast transfert, fees are very abordable compare to other wallet. Purchased bitcoin, no holds preventing transfer to separate wallet.

Compare Canada’s

If you are unsure you should get independent advice before you apply for any product or commit to any plan. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. Before you can even get started trading on Shakepay, you have to go through the rigorous verification process (which usually involves proof of identification). The reason for this is Shakepay’s commitment to certifications, and compliance with regulations and insurers. Any amount of money I could transfer back and forward independently.Pretty secure, fast, transparent, and very intuitive. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency.

When you want to cash out and withdraw from the platform, you can do so by eTransfer or Wire Transfer for free. Interac eTransfers are near-instant and you can send a maximum of $10,000. Wire Transfers can take up to 2 business days and there is no maximum on the amount you can send but there is a maximum of $10,000.

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As of recent, she has been studying some non-mainstream stocks in Canada. When I’m not immersed in numbers, I like to spend time with my dog and plan my next trip. Here’s a detailed breakdown of the deposit and withdrawal payment options. Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you. Most of the cryptocurrency held with Shakepay is protected by an insurance policy.