Newton might be a better choice if you’re looking for a platform that supports more than 70 cryptocurrencies. Users first need to deposit CAD into their accounts to buy or sell cryptocurrencies on Shakepay’s website. Super easy to verify my account and buy bitcoin. Also get to shake my phone everyday for free bicoin and that's super cool. Shakepay hired a security firm to independently review our procedures for storing funds and processing transactions.
Shakepay doesn't charge any fees on trading fees, deposits, or withdrawals. Their money is made on the spread when you buy and sell Bitcoin or Ethereum. This is harder to know what the real fees are, but just know that if you buy or sell Bitcoin on Shaekpay, you are paying a small markup. Shakepay does not charge any direct fees to their customers for buy orders, sell orders, deposits, or withdrawals.
- It offers free e-transfers, Bitcoin rewards, and a hassle-free way to buy and sell Bitcoin and Ethereum.
- I recommend a friend to use this exchange, since I'm already a member and looking in to the referral bonus they offer.
- Shakepay is a Montreal-based crypto platform that happens to be one of the best exchanges in Canada.
- Keep getting "something went wrong" unable to withdraw BTC or CAD - support staff not assisting at all.
- After submitting your phone number to Shakepay, you will be required to complete 2-step verification by entering the code that was sent to your phone.
Don't report any fraud or phising to them or they will shut down your account and it will be very difficult to get your money out again. It's a shame they're review bombed by people falling for outside scams that have shakepay review nothing to do with the company. Really conditions need to be put in place against evil companies like shakepay. I am writing this on behalf of people who are to devastated and broken to know where to recover from.
But remember, there are no additional trading or transaction fees added on. So if you’re looking for a traditional exchange with advanced trading tools and a robust coin selection, Shakepay is not for you. Having said that, Shakepay is one of the best platforms to get your money into and out of the crypto market. I use the app often to cash out profits back to my bank account. Look up shakepay.co reviewsIt's been 10 days and not a single reply... It was looking good before...No reply, customer service is horrible...
And my favourite feature is the ability to earn free Bitcoin every day. On the downside, Shakepay charges one of the highest markups on the price of crypto in Canada. I use it almost daily, but not for advanced trading. Before you sign up, here’s what to know about the Shakepay platform. My BTC is stuck there for a month no response from customer support.
The Bottom Line: Is Shakepay Worth It?
They hold all my accounts for indefinite days and balance Zero asking for more details trading history etc. They just vanished my all funds from shakepay account. Absolutely the worst place to trade bitcoin. Going on 2 weeks for them to process an etransfer that sits idle on their app. They send nonsense deflecting response when you ask them what is going on. 2 weeks is an eternity in financial services.
I've used Shakepay to buy and sell both…
In this regard, after reviewing your account, our safety team has taken the decision to permanently close your account. Very surprised by their lack of professionalism. The company asked who had recommended them and I responded and they sent an email filled with slanderous comments about the company.I guess the company was a competitor. Never got a chance to use the platform and they closed my account after taking all my banking information. Since its 2015 launch, the company has served over a million Canadians who’ve used the platform to trade over $7 billion worth of crypto.
Have been awaiting over 2 days and still waiting for my funds to be credited from Interac. I really love Shakepay, and I put together a quick video to show you how to use Shakepay and to convert some crypto back into fiat Canadian dollars. Recently, I discovered a little gem of a platform called Shakepay, which has an awesome user interface and is fun and easy to use. They have a cool feature called #shakingsats that give you free satoshi's daily. (A Satoshi is the smallest unit of Bitcoin.) Learn more about that at the end of this Shakepay review.
Super easy to verify my account and buy…
One thing that Shakepay has going for it that other exchanges don’t is that there is actual regulatory oversight regarding the business. Is it is licensed as a Money Service Business by FINTRAC and AMF, which are both financial regulatory bodies in Canada. Their customer service is really bad and it’s really difficult to reach anyone, I had switched numbers and wanted to change it on my account so I couldn’t receive the two factor. But they didn’t understand my question ended up flagging my account and closing it without a reason.
If you have a question of a general nature, you may be able to get your answer via their FAQs, which have plenty of information. Shakepay supports over 2 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Solana, which are in the top 20 cryptos by market cap. In total, 2 of the top 20 cryptos are available on Shakepay. No, Shakepay makes money on the spread which means you are paying a small markup whenever you buy or sell. Other than these spreads on BTC and ETH, there are no fees on Shakepay.
#ShakingSats (How To Earn Free Bitcoin Daily)
Shakepay offers offline cold storage, separated bank accounts and guarantees for stored funds in their cold storage. With both deposit and withdrawal, the fees are free. You don’t need to pay anything to get funds in or out of your account. Shakepay makes it possible through the spreads of the price.
What Is Shakepay and How Does It Work?
Just remember to have your Shakepay app funded beforehand, as pre-authorized withdrawals from bank accounts are not supported. If you want a true "set and forget" Bitcoin strategy, check out Beaver Bitcoin or the best DCA crypto exchanges. To find the best Canadian crypto exchange, I bought Bitcoin on 18 platforms to compare total fees, prices, and spreads. Shakepay had a total BTC purchase fee of 1.03% (4th place). The total BTC selling fee was 1.21% (5th place) and the spread was 2.26% (12th place) on the day we tested.
You guys went from one of the best to the worst. Wait times are typically around a day for responses, which is reasonable, but slower than some alternatives. The response time is slower during high-volume periods or the holidays. Shakepay claims to have a "support team that cares" and my few experiences with them have been positive. I received responses within 24 hours each time which is faster than many other cryptocurrency exchanges.
Shakepay offers two deposit methods – Interac e-Transfer and Wire Transfer. Interac has a $5 minimum deposit fee while Wire Transfer has a minimum of $1000. In terms of storing cryptocurrency, Shakepay is using cold offline storage to store a majority of user’s cryptocurrencies. Hackers would not be able to steal any of those even if they somehow broke into the exchange. They can only take what’s connected to the internet – the hot wallets. On their website, Shakepay commits to responding to customer service issues within hours any day of the week.