My Review of Shakepay crypto platform September 2025

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Below is a snapshot of its key features and benefits to help you understand its core offerings. In addition to earning bitcoin cash back using the Shakepay Card, you can also earn Shakepay rewards, popular known as #Shaking Sats. The Shakepay Card has no annual fees, and you can use it for unlimited transactions. This platform is absolutely archaic, no one to talk to, it takes 24 hours for a response through email. They take your money then you need to jump through weeks worth of hoops (two weeks already) to try and get your money. As of this review I'm still waiting for my money, and now they have put another hold for 24 hours.

#2. It’s expensive

Shakepay does not charge direct trading commissions or deposit/withdrawal fees. Instead, it makes money through the spread, which is the difference between the buying and selling price quoted to users. Shakepay provides an efficient fiat on-ramp, allowing me to fund my account using Canadian dollars via Interac e-Transfer or bank transfer. This feature is a major advantage for Canadian residents as it offers near-instant settlements and generally zero fees for deposits. Shakepay is an up-and-coming Montreal-based Canadian crypto exchange that lets you trade bitcoin and ethereum. You can fund your account with Canadian dollars or transfer crypto from your own crypto wallets.

See all Shakepay crypto assets

  • When it comes to fees, Shakepay likens itself to a retail store.
  • When you collect enough Bitcoin or Ethereum, and feel more advance there's other platform, but shakepay is easy to withdraw some fund.
  • In general, accounts are automatically verified by running an identity check.
  • Users who need faster transactions can choose to pay network fees, but having a free withdrawal option is a rare perk in the crypto space.
  • However, it is only available to Shakepay customers who have verified their identity.

E-Transferred 3K to my account after a year + inactivitywas denied access to my funds by shakepay until i had completed a risk assessment. Promptly completed the risk assessment and now had access to my account which was empty. Shakepay claims someone used my 3k, while under their control and management while i was denied access and they are not responsible. According to Shakepay, most Bitcoin and Ethereum held by them are stored offline in cold storage wallets, in partnership with a regulated cold storage provider. They also appear to be registered with FINTRAC, Canada’s money laundering and terrorist activities watchdog. Here are some other ways Shakepay keeps your information and your crypto safe.

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  • I signed up and tested the platform myself to see just how user-friendly it really is and to determine if Shakepay is a legitimate choice for Canadians in 2025.
  • Netcoins is a registered MSB with FINTRAC and registered with the British Columbia Securities Commission (BCSC) and the Canadian Securities Administrators (CSA).
  • While Shakepay claims on its website that digital assets are backed by an insurance policy, the lack of details raises questions.
  • You can store cryptocurrencies on Shakepay or transfer them to your private wallet.

Final Thoughts on Shakepay Card Review

Finder CA is an information service that allows you to compare different products and providers. We do not recommend specific products or providers, however may receive a commission from the providers we promote and feature. Adam Morris, shakepay review the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape. Shakepay has not publicly disclosed the exact number of Canadian users on its platform. However, the platform is known to have a significant user base within the Canadian crypto community. It is registered as a Money Service Business with FINTRAC and AMF, complying with the regulatory standards required to operate within the country.

The balance in your CAD wallet is available for spending with your Shakepay Card and your cash back is deposited to your BTC Wallet. When you request the card, you’ll get a virtual Shakepay Card to use immediately while you wait for the physical one to arrive. You cannot access any other coins nor can you swap between them. 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.

For some reason when you change devise it's not inter connected. So I called customer service and Jean-Pierre -a bot is very limited with understanding problems. Finally after loosing many days with their bot (it takes 12 hours to answer 1 question), I decided to move on and find another app to help me with transactions.

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Some cards charge an annual fee for the privilege of carrying them around with you, but Shakepay doesn’t. The card has no annual and monthly fees, so you can get the benefits of a traditional card without the cost. To top up your Shakepay Canadian dollar balance, you can easily do so by selling cryptocurrency or funding your Shakepay wallet with another payment method like e-transfer. Once you add funds to your Shakepay card, you can then use those funds to make purchases online or pay bills at any location where Visa is accepted. This cryptocurrency card allows you to shop online anywhere Visa is accepted.

How to Create a Shakepay Account

For advanced traders, Kraken offers spot, margin, and futures trading, catering to different strategies. Shakepay, in contrast, is strictly a buy-and-sell platform with no additional trading features. If you’re looking for a straightforward way to purchase Bitcoin and Ethereum in Canada, Shakepay is an option. But if you want a more versatile exchange with better fees, more assets, and advanced trading tools, Kraken stands out as the better choice.

Worst Customer Service - Freezing Funds

The first difference between these two cards is that while both cards don’t don’t charge monthly fees, the Shakepay card has an exchange fee of 3%. Another difference between these two cards is in their cash back rewards program. Shakepay card gives cash back of 1% on all purchases and 1% promotional rate on the first $5,000 in spending. New Shakepay clients get a welcome cash bonus of $30 after they trade at least $100 in cryptocurrencies. Learn more about the promotion in this post about the Shakepay referral code.

The biggest thing differentiating the two companies is that with Newton, you can trade over 25 currencies, one of, if not the highest total for a Canadian crypto exchange. I’ve reviewed a lot of Canadian cryptocurrency exchanges, and if you ask me, Shakepay is most comparable to another up-and-coming exchange, Newton. Like Shakepay, Newton does not charge fees on deposits and withdrawals, and they also offer e-Transfer and Wire transfer funding methods.