Considering the nature of the crypto market, you shouldn’t rush any decision that will affect your over returns. Since the trading platform you use plays a vital role in your gains and losses, I recommend you critically assess your needs before going with Shakepay or any alternative platform. You can make money on Shakepay just like on any other trading platform in Canada. However, how much you make on Shakepay depends on your trading knowledge and trade volumes.
- Unlike other Canadian crypto brokers, Shakepay allows you to execute free trades, and make free deposits and withdrawals.
- What I do like about Shakepay fees is that they don’t charge you to transfer funds in and out of your account.
- I tried with just a little bit of money to feel it out, etransfer went flawless and withdrawing back to my bank account was easy as well so i put more money into it.
Shakepay’s app has a lock option for privacy and security. Shakepay is a safe crypto exchange, implementing industry standard protocols to secure the money, accounts, and personal data of its customers. Shakepay, a crypto broker based in Montreal and regulated by FINTRAC and AMF, offers free trades, deposits and withdrawals, unlike other Canadian crypto shakepay review brokers. Nevertheless, the collection of coins is not the only factor to determine whether or not a crypto trading platform is the best. Continue reading to learn more about other critical factors. While Shakepay doesn’t charge trading, deposit and withdrawal fees, its quoted prices include a variable spreads that’s usually between 1%-1.2%.
Shakepay Customer Support
At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff. Overall, Netcoins is worth checking out if you’re looking for one of the best Shakepay alternative in Canada that is perfect for both beginners and experienced crypto traders alike. Shakepay is a legit and safe cryptocurrency app for Canadians. The crypto broker is registered and regulated as a Money Service Business (MSB) by FINTRAC and AMF.
It is very important to do your own analysis before making any investment.
Big zero service
Having said that, there are no actual trading or transaction fees. Instead, Shakepay only charges a markup above the live market price when you buy, and a markdown on the live market price when you sell. That means you’ll pay more for BTC and ETH when you buy, and you get less for them when you sell. 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.
Plus, Shakepay allows the transfer of your digital currencies into your personal cold storage wallet so you can secure your digital assets yourself. This is common practice across most crypto platforms. The downside is that Shakepay charges one of the highest markups/downs of the major crypto exchanges that I’ve tested so far. Having said that, the total cost of trading is offset by the fact that there are no trading fees on top of the markup. I waited 2 weeks to get verified, without any response from support.
The Worst Customer Support Ever! NEVER USING IT AGAIN!
Learn more about the Shakepay promotion and other ways to earn through this post about Shakepay Referral Code. Now, let’s go over everything you need to know to make the most of its features and benefits. The card is also available to use anywhere Apple Pay and Google Pay are supported. Overall, we found the website to be extremely well designed and organized.
Coinbase charges a flat fee of $1 per cryptocurrency transaction, while Shakepay doesn’t charge any commissions at all. They hired a security firm to independently review their internal procedures for storing funds and processing transactions. The review was published for anyone to read and covers how they use hot wallets and cold wallets. The safety of your money and digital currencies is one of the most important considerations when choosing an exchange.
Positive Reviews
NDAX had the lowest fee to buy Bitcoin with Canadian dollars (18 platforms tested). For Canadians looking to automatically convert CAD into Bitcoin or Ethereum, Shakepay offers a convenient recurring order feature. This option is helpful if for anyone looking for a dollar-cost averaging strategy. The Shakepay app can be accessed on the App Store, Google Play store, or their website. Each device has a very simple user interface, basic charts, and the ability to make market orders, limit orders, and recurring orders.
If you like to have your funds locked…
Shakepay is an exchange platform for cryptocurrency that stores crypto or transfers it to a private wallet. Yes, Shakepay is a legal cryptocurrency exchange platform that has been in business since 2015 and is licenced and regulated by FINTRAC and Revenu Quebec. Shakepay provides secure withdrawals to Canadian bank accounts and Interac e-Transfer. Withdrawals are also processed quickly, and all user data is stored on secure servers, so you won’t have to worry about not receiving your funds.
You can set how much CAD worth of BTC or ETH you’d like to buy or sell. For almost 8 years, Shakepay has kept things simple, enabling over 800,000 Canadians to trade their Canadian dollars (CAD) for some BTC or ETH – or vice versa. Shakepay has an impressive 4.5-star rating across 12,000 reviews on the Google Play store and an even higher 4.6-star rating across 18,000 ratings on the App Store. While Shakepay is considered safe, it still doesn’t replace a crypto wallet.
In addition, they refuse to honour a referral code I entered upon opening the account. No, Shakepay is a centralized cryptocurrency platform that facilitates the buying and selling of digital assets. Yes, Shakepay holds an insurance policy on cryptocurrencies held in cold storage.
You can then decide to hold onto your BTC or convert it to CAD. You can also earn additional free Bitcoin, called #SecretSats, by completing missions. 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. To do this, open your CAD wallet and click on Add Funds.
Shakepay Review: A Simple Way to Trade Bitcoin and Ethereum
I then tried to transfer $700 worth of Eth to Shakepay, and then discovered that apparently they do not accept that type of transfer and that all my money is gone. Tried to reach out to support to get my $700 back and all they’ve done is say sorry we can’t help you. Seriously do not use this app they will scam you out of all your money.
All you need is to visit the application page here and enter your phone number to get the link to download the app. You will be required to verify your number and provide your personal information including your email address and username. Every purchase you make with the card will earn you 1% back in Bitcoin.
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