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Written By: Craig Leontowicz | Updated: April 22, 2023
Here is the Shakepay referral code: FM8INVL Or use this link: https://shakepay.me/r/FM8INVL when signing up.
You will get $5 added to your account when you use this Shakepay promo code and also activate the ‘ShakingSats‘ rewards easter egg. To be eligible to receive the $5 sign-up bonus you will need to verify your account with ID, email, and phone number. You will also need to deposit and buy at least $100 of cryptocurrency. Use Interac E-Transfer to easily buy and sell Bitcoin and Ethereum in Canada with Shakepay.
🎁 Shakepay Referral Code: FM8INVL
Use this code and get $5 sign-up bonus! (GET CODE)
⚡ How Does Shakepay Work?
Shakepay is a Canadian cryptocurrency exchange. They can exchange Canadian Dollars $ for Bitcoin or Ethereum.
Shakepay is NOT a wallet. They do not have a seed phrase and it is best practice to move your coins off exchanges to your wallet.
To buy/sell Bitcoin or Ethereum on Shakepay:
- Sign up for Shakepay and verify your account
- Deposit $ CAD with Interac E-Transfer
- Exchange dollars for crypto
- SEND crypto from Shakepay to your wallet RECEIVE address
Read the full step-by-step guide
If you have Bitcoin or Ethereum you want to sell – simply reverse the steps above and you will be able to exchange your crypto for dollars and deposit it into your bank account.
Shake offers fiat funding and deposits via Interac E-Transfer or Wire Transfer.
❓ About Shakepay
Read: Shakepay Review
Shakepay Fees
- Deposits and withdrawals: $0
- Spread: ~1 to 2%
- Crypto withdrawal: Free
Funding & Withdrawal Options
- Interac E-Transfer
- Wire Transfers
- Pre-authorized Debit
Cryptocurrencies: 2
Shakepay Pros
- No fee crypto withdraws
- Simple app UI/UX
- Earn Bitcoin cashback reward with a prepaid Visa debit card
- *NEW – Dark mode
- Shakepay ShakingSATS
- Shakepay Card for BTC Rewards
Shakepay Cons
- Limited coin selection
- High spread fee
- Mobile app only
Other exchanges will have a lower spread fee but charge for crypto withdrawals. It depends on how much you are buying or selling but Shakepay is great value when making smaller purchases.
Shakepay Shaking Sats
Shakepay ShakingSat’s is a rewards program that will give you free Bitcoin every day.
To activate Shaking Sats
- Sign up to Shakepay with a referral link – https://shakepay.me/r/FM8INVL
- Verify your account
- Deposit $100 CAD into your Shakepay account
- Start shaking for free sats everyday
Read the Shakepay Shaking Sats Rewards Guide
How Does Shakepay Make Money?
Shakepay earns profits on the spread of crypto buy/sell orders placed on the platform. The Shakepay spread fee fluctuates usually between 1 to 2 %. Most exchanges use a spread fee on trades to make money.
Is Shakepay Safe and Legit?
Shakepay is a legit Canadian cryptocurrency exchange. It is one of the largest by-user numbers (600,000+). In July 2020, Shakepay engaged CipherBlade to conduct a Proof of Reserves and Security Review.
A Montreal-based company that has over 50 employees.
I have been using Shakepay for years and never had any issues. I have recommended to many friends to use Shakepay when they are making their first crypto purchases.
Shakepay was founded in 2015 and is a legal and regulated Canadian crypto exchange. FINTRAC #M17065696.
How To Add a Shakepay Referral Code After Sign-Up
Shakepay will let you add a referral code 30 days after sign-up.
Go to: shakepay.com/add-referral
Shakepay Referral Code: FM8INVL
It may take up to 24 hours for the $5 referral bonus to be added to your account.
💰 Compare Exchange Fees & Referral Bonuses
Spread % | Withdraw Fee | Deposit Fee | # of Coins | ||
1 - 2% | $0 | $0 | 2 | ||
0.75-1.5% | Crypto: Free up to $5 | $0 | 60+ | ||
0.2% | Crypto:~$10 | $0 | 30+ | ||
0.5% | Fiat: $0 | $0 | 30+ | ||
0 - 1.5% | Fiat: 1.5% | $0 | 25+ | ||
0.2 - 0.3% | Crypto: 0.00001 BTC | Fiat: 1.5% | 65+ | ||
0 - 2.5% | $0 | $0 | 37+ | ||
~0.2% | Fiat: 1% | Fiat: 0 - 1.5% | 16+ | ||
0.5 - 2.5% | Fiat: $0 | $0 | 67+ | ||
0.5% | 1.49 - 3.99% | 1.49 - 3.99% | 100+ | ||
~1.5 - 2% | $0 | $0 | 49+ | ||
~0.4% | Crypto:~$13 | $0 | 100+ | ||
0.6% | $0 | $0 | 7 stablecoins | n/a | |
0.5 - 1.25% | Crypto: you decide fee | $0 | 1 | n/a | |
1.5% | Fiat: 0 - 1.5% Crypto: 0.0005 BTC | $0 | 39+ | n/a | |
0.21% | Variable | $0 | 1 | n/a |
🔥 How to Refer a Friend on Shakepay
Already have a Shakepay account and want to refer a friend. Here is how you can refer a friend and you and your friend will both get a $5 sign-up bonus.
- Open Shakepay App
- Click > Settings (Gear icon, bottom right)
- Click > Refer a friend
This will give you a unique Shakepay referral code that you can share to be credited with the referral and earn the bonus.
It can take up to 24 hours after sign-up to have the credit applied to your account.
You will be paid in Canadian dollars which will be immediately available to trade for crypto for withdrawal to your bank account or trade for crypto.
Shakepay Referral Code Summary
Shakepay referral code: FM8INVL Or use this link: https://shakepay.me/r/FM8INVL
Shakepay is best for someone that is just getting started in crypto and wants to quickly and easily buy/sell some Bitcoin or Ethereum. Signing up is easy and fast. Interac E-Transfers make deposits and withdraws simply and instantly. It is a very simple app to use and the services they offer, are done well.
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HowToBuyBitcoin101.com is basic how to crypto guides, reviews and information for beginners to get started with cryptocurrency in Canada. NOT investment advice. Investing in cryptocurrency is risky. Do your own research.
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