Try to hold as little as possible on centralized exchanges. Shakepay makes money on the spread which is the difference between the price you can buy and sell at. There are no fees on Shakepay other than the spread. In our test, Shakepay’s spread was 2.26% which ranked 12th place out of 18 platforms. Responsive Support – Shakepay takes great pride in the support they offer. Dubbed ‘responsive support’, they promise to resolve customer issues within hours.
We bought Bitcoin on 18 platforms to compare total fees, prices, and spreads. Shakepayhad a total BTC purchase fee of1.03% . The total BTC selling fee was 1.21% and the spread was2.26% on the day we shakepay review tested. We reviewed and ranked dozens of exchanges and overall, Shakepay is our best exchange for beginners. If you sign up with this link, you can get $10 free when you trade $100 on the platform.
Support is available seven days a week. Speed – It takes just minutes to set up an account and purchase your first bitcoins or ETHs. Coin purchases are confirmed in under 5 minutes, while conversions between Bitcoin and Ethereum are instant. With coins in your wallet you are free to make transfers to other Shakepay users for whatever reason.
There are now over 600,000 Canadians using Shakepay! ”, said Chris DeLuca, Communications Strategist, Shakepay. The process of authenticating my ID to comply with Canadian KYC laws was easier and faster on Shakepay.
It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. I have accounts with Questrade and NADX, never any problems. The community submitted 42 reviews to tell us what they like about Shake Pay, what Shake Pay can do better, and more. Learn more about navigating Product Hunt.
Never use Shakepay
What kind of company is this, registered with FINTRAC, what a joke, lets see if i can even send an E-transfer from Shakepay back to my account… So be very careful, with this two companies, are scam. These guys are shysters, they must be part of the Canadian government because you literally can’t do anything on their app. I answered all of their nosy questions quickly and it took them OVER 1 WEEK to reply to my questions. When they replied they told me that they’ve deleted my account and I can no longer use their services. Total junk company – welcome to the most heavily censored and regulated country in the world – Canada.
- Tht why she have acces to shakepay systeme and manage to do all that.
- The Shakepay app is the main way to buy, sell and send crypto to your wallet.
- Newton on the other hand has a better spread fee and more altcoins so that might be a better choice for when you are buying or selling.
- Customers would purchase prepaid cards with bitcoins.
Buy bitcoin in minutes with Interac e-Transfer®. Cash out to your bank account instantly. It is best to be able to make your purchases at the best price when you are buying or selling Bitcoin, Ethereum, or crypto. Read more reviews what members of all the Canadian crypto subreddits are talking about and any issues that the exchanges are having. Shakepay covers the fees of sending Bitcoin to your wallet. Website not fully functional for sending crypto to wallet.
Shakepay vs Newton
Just enter their phone number or Shakpay username. Click here to sign up for Shakepay and get a $10 free after your first $100 in crypto purchased. Shakepay also noted it recently passed $3 billion in total volume transacted on the platform, adding “we’re just getting started. Our goal is to help as many Canadians as possible preserve their wealth with Bitcoin,” with their next goal is to hit 1 million members. “Every day, more and more Canadians are discovering bitcoin as the basis for a new financial system. A financial system that can’t be tampered with or inflated at will,” added DeLuca.
Shakepay is mainly for small volume investors and people who want to make small/medium regular purchase of bitcoin and ethereum. In our opinion, it is the easiest way to buy bitcoins in Canada for the average person. However, they also have an OTC application for large volume traders. Said traders have to contact them directly for more information as they do not spell out this application on their website. Yes, given most Shakepay assets are held in cold storage, the company has an insurance policy.This policy covers most damages, theft, and the loss of private keys.
Horrible customer service, dysfunctional app.
Shakepay enables deposits and withdrawals via e-transfer and wire transfer. Users can also deposit or withdraw BTC and ETH at no cost — Shakepay also covers the mining fees. Like other Candian platforms, Shakepay allows users to deposit or withdraw CAD using e-transfer or wire transfer, each with different processing times. Shakepay is considered a safe crypto exchange.
Shakepay accounts are easy to set up; users can create an account and purchase BTC within minutes. Every user that creates a Shakepay account is assigned an individual CAD, BTC, and ETH exchange-based wallet to facilitate trading. Shakepay users can also buy and sell ethereum and access a mobile peer-to-peer payment system released in October 2020. Shakepay has very poor customer service which makes using their system extremely difficult. Shakepay has a standard referral program where you can invite your friends to sign up with your promo code or link.
Choosing the right exchange depends on what you want. Shakepay only offers Bitcoin and Ethereum to trade for $ CAD. This service offering expands on the Shakepay mission of giving each user “self-sovereign” control over their wealth.
The sign up bonus right now is $30 free when you trade $100 or more. The rewards are paid out quickly and there is no limit to how many friends you can invite. During the recent surge in cryptocurrency interest with a huge dip in the market, most platforms were unable to keep up with demand, but Shakepay noted it stayed online. HowToBuyBitcoin101.com is basic how to crypto guides, reviews and information for beginners to get started with cryptocurrency in Canada. Choosing a crypto exchange is not an exclusive relationship.
If you’re looking for advanced trading features or a better selection of altcoins, Shakepay is not for you. HowToBuyBitcoin101.comis a simple guide for beginners to get started with cryptocurrency in Canada. We also review and compare crypto exchanges and wallets. Indeed, this is how Shakepay makes money – in the spread between the price they sell bitcoins or ethers and the price at which they buy bitcoins or ethers. Like many Canadian cryptocurrency exchanges, Shakepay acts as the custodian of wallet deposits and holds the private keys to access them .
From what I read, they are short staffed, so at least tell me this and that there will be a delay. Up until this week, made a deposit of $100 and then $1000. Said I need to upload a selfie video, which I did. The higher spread fee and free to withdraw crypto on Shakepay make it great for buying and sending smaller amounts.
That is basically what I am looking to do. A process that I would tell less tech-savvy users to get their first Bitcoin. You should always do your research when it comes to cryptocurrency and https://forex-reviews.org/ other financial decisions. If an exchange goes out of business or is having technical difficulties, I don’t want to be trying to sign up to a new exchange at the same everyone else is.