With Shakepay, there are no trading fees, deposit fees, and withdrawal fees regardless of the funding method used. While Shakepay doesn’t charge trading, deposit and withdrawal fees, its quoted prices include a variable spreads that’s usually between 1%-1.2%. The safety of your money and digital currencies is one of the most important considerations when choosing an exchange. It’s an extremely safe cryptocurrency exchange, and they are very transparent about their safety measures. Once you’ve submitted your identification and your video, you will need to wait up to 7 days for Shakepay to verify your account before you can start trading. That said, I received my complete verification within 24 hours.

I received responses within 24 hours each time which is faster than many other cryptocurrency exchanges. You can start a conversation with their team or visit their help center for articles and FAQs. If you’re new to the world of crypto, Shakepay may be a great place to start investing.

1. The crypto broker is registered and regulated as a Money Service Business (MSB) by FINTRAC and AMF.
2. 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.
3. To earn this bonus, all you need is to sign-up on this platform through this link and trade at least $100 in cryptocurrencies.

In this regard, after reviewing your account, our safety team has taken the decision to permanently close your account. E-Transferred 3K to my account after a year + inactivitywas denied access to my funds by shakepay until i had completed a risk assessment. Promptly completed the risk assessment and now had access to my account which was empty. Shakepay claims someone used my 3k, while under their control and management while i was denied access and they are not responsible. The app is streamlined and straightforward, meaning account holders can buy and sell Bitcoin and Ethereum quickly and easily from anywhere.

Opening A Shakepay Account

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. Shakepay is a Canadian company registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and compliant with KYC regulations.

Shakepay Review 2024: Beginner-Friendly Crypto App in Canada

In my case, I noticed that Shakepay charged one of the highest markups above BTC’s live market price. However, there were no additional trading or transaction fees. Without those additional fees, Shakepay actually ended up being one of the cheapest platforms to buy Bitcoin. For example, Coinbase doesn’t allow you to buy or sell crypto with Canadian dollars.

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. Shakepay and Wealthsimple were dealt a lawsuit over accusations of hidden fees on their platforms. Despite these allegations, Shakepay’s fees are generally reasonable.

There are two ways to fund your account with Canadian dollars, eTransfer or Wire Transfer, and both are free. I funded my account with $50 by eTransfer and it was instant. The card is also available to use anywhere Apple Pay and Google Pay are supported. Overall, we found the website to be extremely well designed and organized.

Devriez-vous utiliser Shakepay?

Shakepay will give you a preview of the transaction and disclose the current purchase price. The platform uses industry-leading security measures such as two-factor authentication and encrypted email communication. As you can see, there are plenty of reasons to trust Shakepay as your cryptocurrency exchange. Shakepay, on the other hand, allows you to buy and sell crypto with CAD.

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. Shakepay has some of the lowest collections in Canada as it offers access to only Bitcoin and Ethereum. Below shakepay review is a highlight of the Shakepay key features as of the time of writing. Become an investor and earn high-yield passive income or get a low-interest loan funded by your Canadian peers. To open a Shakepay account, you need to create an @shaketag handle, which will act as your username.

Shakepay Review 2024: Pros, Cons, and Features

Lisa is very serious about smart money management and helping others do the same. Every purchase you make with the card will earn you 1% back in Bitcoin. However, you will earn 1% cash back in Bitcoin on your first $5,000 purchases with the card.

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I’ve been using shakepay over 2 years

All content should be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017. You can earn free Bitcoin on Shakepay through shaking your phone, cashback, referrals, and giveaways.

They also have free interac e-transfers and wire transfers, making it easy to buy and sell with Canadian dollars. Shakepay, a crypto broker based in Montreal and regulated by FINTRAC and AMF, offers free trades, deposits and withdrawals, unlike other Canadian crypto brokers. With Shakepay, you can only buy or sell Bitcoin and Ethereum.