A Shakepay Review for 2025- Canadian Crypto Exchange

A Shakepay Review for 2025- Canadian Crypto Exchange

Will permanently leave this platform once they release my funds and stop giving me security excuses for keeping the funds that are mine . When using Shakepay to buy or sell Bitcoin and Ethereum, you’ll notice it works similarly to other Canadian crypto exchanges. Shakepay’s recurring buy feature is designed to let you regularly purchase Bitcoin daily, weekly, or monthly. Your Shakepay account just needs to have enough Canadian dollars in it to process the financial transactions. It’s basically dollar cost averaging, which many long-term investors use to profit from the upward trajectory of crypto. Shakepay makes Bitcoin and Ether crypto trading easy, but it’s not for everyone.

In my test, Shakepay’s spread was 2.26% which ranked 12th place out of 18 platforms. Shakepay, a crypto broker based in Montreal and regulated by FINTRAC and AMF, offers free trades, deposits and withdrawals, unlike other Canadian crypto brokers. To earn this bonus, all you need is to sign-up on this platform through this link and trade at least $100 in cryptocurrencies.

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Any Canadian who doesn’t fancy themself a crypto trader or altcoin enthusiast will find Shakepay to be an ideal platform. When it comes to rewards, the BlockFi card is the clear winner. With 1.5% back on every purchase (no dollar limit), 2% back after a $30k annual spend, and up to 10% back on thousands of select brands, it blows the Shakepay rewards out of the water. It’s also important to remember the Shakepay card is a reloadable Visa prepaid card, which means you can only spend funds that are loaded to your Shakepay Canadian dollar balance.

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The banks are faster to deal with and do not ask personal questions which is intrusive. It has taken them 6 days to return my cash that took me 30 minutes to wire. I e-transfered $400 to their app and bought Ethereum with it. They asked me for a selfie to verify the transaction, which they have never done before. Something was wrong with their system so they couldn’t accept my selfie. My $400 of Ethereum has been frozen in my account for the past 4 hours and I can’t take it out.

Savvy New Canadians is one of Canada’s top personal finance platforms. shakepay review Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation.

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• Now, let’s dig deeper into their services and see where they excel and where there’s room for improvement.
• Shakepay has a mobile app on both the Apple App Store and Google Play.
• The Visa Card can be used to pay for purchases wherever Visa is accepted and allows you to spend from your Shakepay balance.
• When you buy or sell Bitcoin and Ethereum, there is a spread in the prices.
• The Shakepay card is one of the crypto credit cards in Canada.

If you’re new to crypto and want a quick and easy way to invest in Bitcoin or Ethereum, Shakepay might be the right solution for you. Unlike the major exchanges, Shakepay isn’t a peer-to-peer crypto marketplace, so you’re not buying and selling directly with others. Instead, Shakepay is a market maker, which means you’re buying crypto directly from Shakepay and selling it back to them. Rather than charging specific trading fees, Shakepay’s fees are built into each trade similar to “the rake” in poker. Similar to funding your account, you can make withdrawals from your account in several ways. If you sell crypto and want to withdraw funds in CAD dollars, you can opt for a wire or and Interac e transfer.

• Finally, Netcoins’ support team is revered for their helpful input, friendly personality, and professional behaviour, which is especially beneficial for beginner investors.
• Because Shakepay is a Canadian-only platform, it makes sense to compare it to other Canadian-only platforms like NDAX.
• The exchange offers a number of features including commission-free trading, a cryptoback debit card and excellent customer service.
• One thing that Shakepay has going for it that some other exchanges don’t is that there is actual regulatory oversight regarding the business.
• Also sold btc and sent money to my bank via etransfer, was 5 minutes to receive etransfer.
• You will then be prompted to create a username in the format of an @shaketag.

I was Scammed so they close my account.

We’ll get into more detail further down in this Shakepay review, but let’s first look at some of the benefits and drawbacks of using this unique crypto exchange. No, Shakepay is a centralized cryptocurrency platform that facilitates the buying and selling of digital assets. Users can store crypto on Shakepay or transfer it to a private wallet of their own. Shakepay is a safe crypto exchange, implementing industry standard protocols to secure the money, accounts, and personal data of its customers.

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners.

However, we advocate for you to continue to do your own research and make educated decisions. Yes, Shakepay makes it very easy to move in and out of the cryptocurrency world in a matter of minutes. However, the process will take longer if you decided to move your cryptocurrency holdings to your own non-custodial wallet. Shakepay is available on both desktop computers and smartphone devices. Desktop users of any operating system can access the exchange via their web browsers, while the Shakepay app is also available on the Google Play and iOS app stores.

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First I couldn’ t write my phone number because in the process I started on the app and then contimued on my computer and it doubled my account??? For some reason when you change devise it’s not inter connected. So I called customer service and Jean-Pierre -a bot is very limited with understanding problems. Finally after loosing many days with their bot (it takes 12 hours to answer 1 question), I decided to move on and find another app to help me with transactions.

Shakepay Review

Shakepay is a Canadian crypto broker based in Montréal, Quebec. They also have free interac e-transfers and wire transfers, making it easy to buy and sell with Canadian dollars. Both Newton and Shakepay are among the leading crypto brokers in Canada.

NDAX is a more trader-friendly platform with charts and the usual features active traders generally require. NDAX also supports considerably more crypto assets and even supports crypto staking. Trade of cryptocurrencies is a high risk investment, not suitable for all investors. It is possible to lose the entire initial investment, so do not trade what you can not afford to lose. We strongly advise to make your own researches before start investing.