Exchange Score: 3.8/5
Fund/Withdrawal
Coin Offerings
Fees
Services Offered
User Experience
What We Love: Pros
  • Canadian Exchange with free and easy e-transfer.
  • Trade and hold Canadian Dollars.
  • Wonderful platform for beginners.
  • Shakepay covers mining and gas fees transferring coins out of the platform.
  • Get up to 1000 satoshis FREE per day for shaking your phone daily.
What Could Improve: Cons
  • Currently only offers purchase of two cryptocurrencies: Bitcoin and Ethereum.
  • Does not offer staking or interest for holding crypto.

Shakepay Overview

Shakepay is a Canadian exchange which has recently surpassed 1million Canadian users. Shakepay offers a basic platform for buying and selling Bitcoin and Ethereum and has a fun feature which gives you a max of 1000 satoshis daily for shaking your phone!

Currencies

Depositing funds via e-transfer is quick and simple, and being a Canadian exchange, you are able to hold Canadian funds in your account.

The only downside to Shakepay is it only offers the purchase of the two largest cryptocurrencies; Bitcoin and Ethereum. We hope more choices open up in the future.

Services

Shakepay offers a super user-friendly interface to purchase Bitcoin or Ethereum. They offer a quick purchase at market prices, limit orders, and also recurring buys. Reoccurring buys were introduced in February 2021 and is a great feature for beginners. Whether daily, weekly or monthly, you don't have to jump in all at once and try to time the market, instead you are able to dollar cost average on your terms.

A fun feature of Shakepay which I enjoy is #stackingsats! Everyday you are entitled to shake your phone and receive satoshis based on the number of daily streaks you have, earning a maximum of 1000 sats daily! (With prices at $50,000 CAD, that $0.50 free everyday if you hit max streak)

Shakepay is working on launching their Shakepay Visa Card! Purchases will receive bitcoin cashback on everything you buy, settled directly to your Shakepay bitcoin balance.

Another great feature is that Shakepay covers the miner/gas transaction fees when sending Bitcoin or Ethereum out of your account to another wallet.

Fees

Funding and withdrawing Canadian funds through Interac e-Transfer is free and fairly quick. Although Shakepay offers a self-proclaimed "commission free" trades, they function like a store and sell at a marked-up price instead of a market with other traders and collecting a commission on transactions. This is how they earn a profit and support covering transaction fees on the blockchain. From our calculations, you are generally paying about 1.1% markup.

Overall Experience

Shakepay is a perfect platform for beginners who are just getting into crypto. A friendly mobile app with only two cryptocurrencies to purchase makes it a great platform to get started. Shaking sats is a fun way to gain exposure and earn some free bitcoin.

Join now and receive a bonus $20 when you purchase $100 worth of crypto

*Tip: If the referral code did not apply properly, visit https://shakepay.com/add-referral to retroactively add the referral code KTHAR7J. Shakepay offers a 30-day grace period to add this code!
Join Team Shakepay!
Disclaimer: Not Investment Advice
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