Shakepay

Shakepay allows Canadians to buy and sell digital cryptocurrencies in minutes at their comfort. It allows you to buy your first Bitcoin or Ethereum with no fees using instant e-Transfers in just 10 minutes. This cryptocurrency platform has an Android and iOS app that allows transactions to be done easily and quickly.

Shakepay, founded in 2015 and is based in Montreal, Canada. It is a technology company that provides financial applications for building wealth. Through the Shakepay App, it allows users in Canada to buy/sell bitcoin and pay their friends.

Shakepay is a safe crypto exchange app that implements industry-standard protocols to secure the money, accounts, and personal data of its customers. Shakepay Inc. is licensed (MSB M17065696) as a Money Service Business by Canada’s Financial Regulatory Bodies like FINTRAC and AMF.

Key Features

$0 Commission

It is a commission-free service that does not charge you fees for buying or selling crypto. We also cover transaction fees for moving your money off Shakepay. So if you were to send your Bitcoin or Ethereum to your external wallet, you don’t pay any miner or gas fees.

Lightning Fast Verification

Shakepay customers get their accounts set up in minutes, not days. Sign up and buy your first Bitcoin within 10 minutes with no fees!

Allows You To Own Your Bitcoin

You don’t just invest in bitcoin as you might on other Canadian apps. With Shakepay, you buy and own your Bitcoin. It’s commission-free and takes minutes, not days.

Gives You Free Bitcoin

Invite your friends and you’ll both get $30 after they sign up to Shakepay using your referral link. No limits, invite as many friends as you want! And even more: find an EASTER EGG on Shakepay to earn free Bitcoin daily! #ShakingSats

Uses The Shakepay Card

Spend dollars and earn up to 2% in bitcoin cashback to your Shakepay account on every purchase! The Shakepay Card is issued by Peoples Trust Company pursuant to license by Visa Int and in collaboration with Marqueta.

Send Instant E-Transfers

Send instant e-Transfers from any Canadian bank like TD, Scotiabank, RBC, etc. It is as little as $5 and receives it within minutes. Forget about waiting 3 business days to receive funds! You can sell your crypto and send money back to your bank account with 0 fees.

Send Money To Friend

Send money to your friends on Shakepay within seconds! No fees and no more security questions.

Set Recurring Buys

Shakepay allows you to set automatic buying rules to purchase crypto every day, week, or month.

Create Limit Orders

Buy or sell BTC and ETH at a price you set! Create a limit order and Shakepay will execute it at a time when crypto hits a particular price.

Send Wire Transfers

For larger transactions, send funds via wire transfer from BMO, RBC, CIBC, and any other Canadian bank – directly to your Shakepay account.

Security

Shakepay takes the security of our users’ funds and data very seriously. It requires you to set up 2FA to secure your wallet. Disable your account if your phone gets lost so no one can get access to your funds.

Regulations

Shakepay is a Money Service Business under Canadian legislation and regulated by FINTRAC, anti-money laundering (AML), and counter-terrorist financing (CTF) compliance programs.

Pros

• It is a Montreal-based crypto exchange for Canadians.
• Allows you to buy/sell Bitcoin and Ethereum.
• It is incredibly fast with purchases and transfers.
• Easy and quick to trade on Shakepay. You can set up an account and start buying cryptocurrency very quickly.
• No transaction fees for buying and selling cryptocurrencies.
• You can withdraw Bitcoin to a bank account in Canada without any fee instantly.
• ShakingSats rewards you with free crypto just for opening the app and shaking your phone.

Cons

• Only for Canadians
• Supports only 2 cryptocurrencies, Bitcoin and Ethereum.
• It is not the cheapest crypto exchange in Canada.
• It has limited features compared to other crypto exchanges with no watchlists, news, research, etc.

Price

Shakepay is a Canadian crypto exchange that provides commission-free trading fees. It does not charge direct fees from its users and also CAD and crypto deposits and withdrawals are free.

It makes its money from the bid-ask spread when buy and sell orders are made on the platform. If any users wish to make deposits or withdrawals via wire transfer within their banks this crypto platform charged additional fees.