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Shakepay Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Shakepay logo
3.39
Crypto Head Rating
Visit Shakepay

The Bottom Line

Shakepay emerges as a robust platform for Canadians seeking an entry-point into the world of Bitcoin and Ethereum trading. Its user-friendly interface, coupled with a clear fee structure and strong security measures, positions it favourably in the landscape of cryptocurrency exchanges.

Whether for seasoned traders or those new to crypto, Shakepay offers a worthwhile experience.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Simple user interface
  • Supports Bitcoin and Ethereum
  • Offers a Bitcoin rewards program
  • No commission fees on trades
  • Provides a built-in wallet for users

Cons

  • Limited selection of cryptocurrencies
  • Only available to Canadian residents
  • No advanced trading features
  • Lacks live customer support
  • No option for desktop trading; mobile-focused

Quick Summary

Headquarters Location Montréal, Quebec, Canada
Fiat Currencies Supported CAD
Total Supported Cryptocurrencies 2+
Trading Fees 0%
Deposit Methods Bank Transfer, Cryptocurrency, Interac e-Transfer
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Shakepay stands as a Canada-based platform in the brisk world of crypto exchanges, offering an accessible means for users to buy, sell, and manage their Bitcoin and Ethereum. As financial technology continues to evolve, Shakepay paves the way for Canadian residents seeking a gateway into the digital currency sphere.

Shakepay homepage

Shakepay stands out as a stalwart in the Canadian cryptocurrency landscape, offering a streamlined approach for individuals keen to delve into the world of digital currencies. As the platform advances, it continues to enhance its features and services, deepening its commitment to user empowerment in the digital finance revolution.

Shakepay’s evolution is indicative of the broader growth within the crypto exchange market, where ease of access and user trust are central to success.

About Shakepay

Established with a vision to simplify the crypto landscape for its users, Shakepay has swiftly climbed the ranks to become recognised amongst cryptocurrency exchanges, particularly in Canadian provinces. Its inception story mirrors the innovative spirit of the crypto industry, with a focus on streamlining the process of acquiring popular cryptocurrencies.

Since its establishment, Shakepay has navigated through an ever-shifting market, adopting advancements and adapting to regulatory changes, which have shaped its journey. Its expansion within Canadian provinces is testament to the growing appetite for digital currencies and Shakepay’s ability to meet this demand.

Shakepay features

Over time, the platform has witnessed the ebb and flow of industry trends, such as the rise of popular cryptocurrencies and the increased mainstream interest in digital finance, positioning itself as a responsive and dynamic player in the space.

Shakepay has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, TikTok and YouTube.

Shakepay has a mobile app on both the Apple App Store and Google Play.

Shakepay Supported Cryptocurrencies

Shakepay supports trading on over 2 cryptocurrencies on their platform. This exchange currently supports 2 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Chainlink (LINK)
  • TRON (TRX)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • UNUS SED LEO (LEO)
  • Filecoin (FIL)
  • Immutable (IMX)
  • Aptos (APT)
  • NEAR Protocol (NEAR)
  • Stacks (STX)
  • Bittensor (TAO)

View all cryptocurrencies Shakepay supports

  • BTC
  • ETH

Trading Experience

The trading experience on Shakepay is crafted with the user in mind, striking a balance between simplicity and functionality. The platform’s design facilitates quick and straightforward transactions, allowing users to buy and sell Bitcoin and Ethereum with ease.

This, paired with a robust verification process, makes Shakepay a preferred platform for buying digital currencies in Canada.

Trading on an exchange like Shakepay is more than just the simplicity of transactions; it is also about the assurance and fluidity that comes with a well-thought-out platform. The experience is tailored for both the crypto-curious and the seasoned investor, focusing on providing a balanced environment that supports the rapid buying and selling of cryptocurrencies with confidence.

With robust verification processes and a user-focused approach, Shakepay emerges as a platform that respects the time and trust of its clientele.

Shakepay exchange marketing

Shakepay Fees

Shakepay’s fee structure is designed to maintain transparency and competitiveness. The platform ensures that while engaging in transactions, users are aware of the costs associated with their trades.

Fees are incorporated in a way that supports Shakepay’s commitment to providing an affordable service that caters to both novice and experienced crypto enthusiasts.

While Shakepay’s fee structure is crafted to stay competitive and transparent, it is also reflective of the platform’s philosophy to provide equitable access to digital currencies. By embedding fees within transactions, Shakepay ensures that customers can engage with the platform’s services without facing unexpected costs, making it a fair choice for those who value transparent pricing in their crypto transactions.

Type Fee
Deposit Fee (Bank Transfer) 0%
Trading Fee 0%
Withdrawal Fee (Bank Transfer) 0%

Security - Is Shakepay Safe?

Security is paramount in the digital currency domain, and Shakepay adheres to stringent protocols. As a registered Money Service Business, Shakepay incorporates layers of security measures to safeguard its users’ assets and personal information.

These include 2-step verification and additional verification checks to ensure that users’ cryptocurrency holdings remain private and secure.

In the realm of digital finance, where the security of transactions and the safeguarding of assets are of utmost importance, Shakepay demonstrates its dedication through robust security practices. Beyond the essential 2-step verification and diligent checks, the platform has developed comprehensive security measures that reassure users of the safety of their cryptocurrency holdings.

These practices are a testament to Shakepay’s understanding that the foundation of a reliable exchange is the unwavering security of its user’s assets.

Shakepay Customer Support

Customer service remains an integral aspect of Shakepay’s offering. The exchange prides itself on exceptional customer service, with a team ready to assist via email and phone.

Their response times are swift, often resolving queries within a matter of minutes, ensuring users receive support promptly and effectively.

The backbone of any service-oriented platform is the strength of its customer support. Shakepay prides itself on a support system that is not just reactive but proactive in addressing user concerns.

With customer service agents ready to provide helpful replies through various channels including email and phone, Shakepay ensures that the path to resolution is as smooth as possible. This level of customer care scrutiny reflects the platform’s dedication to maintaining a relationship of trust and support with its users.

Shakepay support

Shakepay Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Shakepay

  1. Create Account - Visit the Shakepay website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Interac e-Transfer

Shakepay Alternatives

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Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

Visit Binance
Kraken logo

Kraken

3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

Reflecting on Shakepay, its attributes paint a picture of a platform dedicated to offering a seamless cryptocurrency exchange service. From its user-friendly interface to the additional features it provides, Shakepay demonstrates an understanding of its user base and their needs within the cryptocurrency market.

The trajectory of cryptocurrency exchanges like Shakepay is interwoven with the broader narrative of digital finance, where innovation, security, and user experience are paramount. As the industry continues to mature, the role of such platforms in facilitating the next wave of financial technology adoption becomes increasingly significant.

Observing general market movements, it’s apparent that the exchanges that prioritise user trust and regulatory compliance will likely be the ones to pave the way forward.

Shakepay FAQs

Yes, Shakepay is a legal cryptocurrency platform in Canada. It is registered as a Money Service Business with FINTRAC and AMF, complying with the regulatory standards required to operate within the country.

Shakepay has not publicly disclosed the exact number of Canadian users on its platform. However, the platform is known to have a significant user base within the Canadian crypto community.

On Shakepay, when you purchase cryptocurrency, you gain ownership of the asset. The platform provides you with the option to transfer your crypto to your own private wallet, where you have full control over your private keys.

Shakepay allows users to withdraw Canadian dollars without any set limit, although larger withdrawals may require additional security checks. For cryptocurrencies, the withdrawal limits can vary, so users should check the latest terms on Shakepay’s website or contact their support for up-to-date information.

Shakepay maintains that digital currencies held on the platform are not insured under any government-backed or private insurance policy. Users are encouraged to transfer their digital assets to a wallet where they have control over their private keys.

The time it takes to transfer bitcoin from Shakepay to another wallet can vary depending on network congestion and the fee attached to the transaction. Typically, transfers can take anywhere from a few minutes to several hours.

Yes, you can send bitcoin from your Shakepay account to another bitcoin wallet. The process involves entering the recipient’s bitcoin address and the amount you wish to send from within the app or website.

Shakepay incorporates elements of a hot wallet, as it enables users to store, send, and receive cryptocurrencies like Bitcoin and Ethereum through an online platform. However, they also encourage the use of private wallets for enhanced security.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: