Shakepay Review 2024: Beginner-Friendly Crypto App in Canada

The general sentiment is that Shakepay is easy to use, has fast transactions, and cool Bitcoin rewards. The main complaints seem to be around slow customer service, occasional app bugs, and hidden fees. However, Shakepay has an insurance policy, and prepaid card, and supports peer-to-peer transactions, unlike Newton. You can also earn free Satoshis daily through its ShakingSats feature and setup recurring crypto purchases. Both Newton and Shakepay are among the leading crypto brokers in Canada. The two trading platforms don’t charge deposit, withdrawal and trading fees.

All that said, there are certain minimums requirements you should be aware of when making transfers. I will be available in the comment section for any further clarification you may have. Below are the top pros and cons of Shakepay that you need to consider when determining if it’s perfect for you. Learn more about the Shakepay promotion and other ways to earn through this post about Shakepay Referral Code.

In my case, the cost was even lower than NDAX, which is typically known for having the lowest fees in Canada. If you’re in a hurry and need your funds instantly, you can always go for Interac e-Transfers. Shakepay will review your request and have the funds processed within minutes.

  1. However, Shakepay users have several ways of earning free cash and crypto through the app.
  2. E-Transferred 3K to my account after a year + inactivitywas denied access to my funds by shakepay until i had completed a risk assessment.
  3. Because it offers one of the easiest ways to enter the market and cash out your bank account, along with opportunities to earn free Bitcoin, I personally use Shakepay almost daily.
  4. At the end of the review, you should be able to make an informed decision about whether or not Shakepay the perfect crypto broker for you.

There are no annual fees, no monthly account fees, and you receive your cash back within 24 to 48 hours, a feature that sets it apart from other crypto reward cards. Payments are made using the Canadian dollar balance in your Shakepay app. Shakepay doesn’t charge any fees on trading fees, deposits, or withdrawals.

You can store the rewards in your account or transfer them to a Bitcoin wallet. The card comes with no annual fees or credit checks and is available to customers in all 13 Canadian provinces. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Shakepay is one of Canada’s most popular cryptocurrency exchanges, with over 800,000 customers purchasing Bitcoin and Ethereum on the platform since its inception in 2015.

Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. If you’re looking for reasonable fees, appealing return rates, and low investment requirements, check out these Canadian Bank ETFs. The Manitoba government offers a program, called the Education Property Tax Credit, to help offset some of the taxes residents must pay. Shakepay performs a soft credit check to verify your identity, this will not affect your credit score.

I’ve been using shakepay over 2 years

Shakepay will then send you an authentication code, and once you enter it, you can continue creating your account. Before you can even get started trading on Shakepay, you have to go through the shakepay review rigorous verification process (which usually involves proof of identification). The reason for this is Shakepay’s commitment to certifications, and compliance with regulations and insurers.

E-Transferred 3K to my account after a…

You can convert your coins to cash and use the card anywhere Visa card is accepted like the Shakepay Card. Once you provide the required information and documents, Shakepay will approve your request instantly or within 1-4 business days in the case of manual verification. Shakepay is a legit and safe cryptocurrency app for Canadians.

What Is Shakepay?

With over a decade experience in financial services, he’s passionate about personal finance, investing and helping people take control of their financial life. Learn more about the 2 top crypto platforms in this Newton vs Shakepay comparison or read my detailed Newton review here. While you can’t make the wrong choice with Shakepay, you still need to know about its offerings and how it compares to the other crypto platforms in Canada. And that’s exactly what this Shakepay review will help you achieve.

Shakepay Review 2024: Pros, Cons, and Features

You will need to enter your name, birthday and occupation, plus confirm that you are only using the account for yourself. Selling your Bitcoin (BTC) or Ethereum (ETH) is just as easy. Click on Buy & Sell, select your BTC wallet, enter the units of BTC you’d like to sell, and then click on Sell Bitcoin. Shakepay will give you a preview of the transaction and disclose the selling price. Also, you will not be able to send/receive crypto to/from external wallets.

While Netcoins allows you to make free CAD deposits and withdrawals, it charges fees for crypto withdrawals and trading, unlike Shakepay. Despite offering access to free trading, deposit and free withdrawals, Shakepay still offers a welcome bonus of $5. Nevertheless, the collection of coins is not the only factor to determine whether or not a crypto trading platform is the best. The growing popularity and adoption of cryptocurrencies over the past few years has led to the emergence of several crypto trading platforms in Canada. Shakepay is a great option for anyone looking for a convenient way to buy and sell crypto, as it has one of the most user-friendly exchanges and offers reasonable fees. In addition, you will earn an additional 1% in bitcoin on the first $5,000 you spend.

It seems that many other users have experienced a similar turnaround time. Both the Shakepay mobile app and desktop platform have a very similar layout, but I prefer to trade on my desktop. Before you can buy crypto, you need to fund your CAD wallet first.

What Is The Shakepay Scandle?

Transactions must be authorised by multiple parties before being accepted, making theft and exploits less likely. Additionally, your funds are held in separate accounts to Shakepay’s reserve funds.Insurance. Shakepay provides insurance for the funds held in cold storage. This includes insurance for most losses incurred by theft, hacks or misplacement of private keys. Shakepay’s insurance policy was created by Aon and underwritten by Lloyd’s of London.

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