Shakepay Crypto Exchange Review
An easy to use and trusted exchange for beginners to buy and sell bitcoin.
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By Craig Leontowicz | Updated July 16, 2021
Shakepay is Canada’s largest crypto exchange having served over 600,000 customers. Shakepay makes buying and selling crypto through their website, Android and iOS apps a fast and easy experience. I have been using Shakepay for over a year and it is the exchange that I recommend to friends who are just starting out in crypto who simply want to buy some Bitcoin or Ethereum.
Overall Rating
⭐⭐⭐⭐⭐
Shakepay
Review Summary
Easy to use for beginners. Withdraw crypto to your wallet for no fee. Use recurring buys or limit orders to buy or sell crypto. Higher spread fee.
Spread
~1% – 2%
Withdraw Fee
$0
Funding Options
· Interac e-Transfer
· Wire Transfers
· Crypto
Coins Available
Bitcoin, Ethereum
Current Offer
· Get $10 when you deposit $100 or more.
· Unlock shaking sats rewards.
· Referral code: https://shakepay.me/r/FM8INVL
Who Should Use Shakepay
Shakepay is ideal for people who want to buy and hold their own bitcoin. It is a simple to use, safe and trustworthy exchange.
- Setup limit buys and recurring orders.
- Ideal for crypto buys (less than ~$2800) because of the free withdrawal fee and spread.
- Easy to use app. Recommended for beginners.
Pros
- Free withdraw fees
- Simple to use app UI/UX
- Limit orders
- Setup recurring purchases
Cons
- Limited coin selection
- High spread fee
- No crypto to crypto trading pairs
Pros Explained
Free Withdraw Fees – Shakepay covers the network fees when sending crypto to your wallet.
Simple to use app UI/UX – Simple and easy use app to buy and sell Bitcoin with Interac e-Transfer.
Limit orders – Place a buy or sell order at a price you set when purchasing crypto.
Setup recurring purchases – Automatically buy every day, week or month by setting up a recurring buy order.
Cons Explained
Limited coin selection – Shakepay only offers Bitcoin and Ethereum to buy and sell. Sorry, no Dogecoin or other altcoins.
High spread fee – Shakepay has a higher spread fee than other exchanges but makes up for it with $0 withdraw fees.
No crypto to crypto trading pairs – You can only trade crypto for Canadian dollars.
App Design
Clean and minimal design.
Exchange Stability
Shakepay is one of the only exchanges that stayed working consistently through the market ups and downs in the last year. Many exchanges had issues handling the influx of new customers and funding accounts at a peaks times.
Customer Service
Company Info
Shakepay allows Canadians to buy or sell bitcoin and Ethereum. A Montreal-based company that has over 50 employees. It was founded in 2015 and is a legal and regulated Canadian crypto exchange.
Read the guide for beginners: How to Buy Bitcoin in Canada Tutorial →
Frequently Asked Questions
What is Shakepay used for?
Shakepay is used to exchange Canadian Dollars $ for Bitcoin and/or Ethereum.
How does Shakepay make money?
To make money, Shakepay sets the price you can buy or sell cryptocurrencies at (spread). At any point in time, there will be a small difference between the price customers can buy crypto and the price at which they can sell.
Is Shakepay legit?
Yes. Shakepay is a legal crypto exchange. It is one of Canada most popular and trusted exchanges to buy or sell Bitcoin.
Can I leave my money in Shakepay?
Make sure you do everything Shakepay recommends to secure your account.
Is Shakepay safe / secure?
Shake is safe as can be. It is best practice to not leave your funds on an exchange and to transfer your crypto to your own wallet. Hacks and bugs are always possible.
Compare Exchanges
Shakepay VS. alternative crypto exchanges.
Exchange | Fees / Spread | Funding Options | Available Coins | Notes |
 | ~0.5% spread | Interac e-Transfer, wire transfers, pre-authorized debit | Bitcoin, Ethereum, Litecoin, Ripple, DOGE, Tether, Bitcoin Cash, Stellar Lumens, USD Coin, and QCAD | Get $25 Sign Up Bonus |
 | ~1% – 2% spread | Interac e-Transfer, wire transfers | Bitcoin, Ethereum | Get $10 Sign Up Bonus Learn how to earn free BTC with Shakepay |
 | ~0.2% | Interac e-Transfer, wire transfers, bank draft | Bitcoin, Ethereum, Litecoin, XRP, EOS, Stellar, DOGE, Cardano, Tether, Chainlink, DOT | Get $10 Sign Up Bonus |
 | Interac e-Transfer, bank Transfers | Bitcoin, Ethereum, 100+ more coins | Get $25 USD | |
 | ~0.2% - ~0.3% | Wire transfer, In-person (Canada Post), Etana Custody | Bitcoin, Ethereum, 50+ more coins50+ more coins | Crypto to crypto trading pairs |
 | 0.6% | Interac e-Transfer | Stablecoins -CADC, DAI, USDC, BUSD, USDT | OTC desk with a minimum of $25k per transaction |
 | Interac e-Transfer, online bill payment, bank wire transfer | Bitcoin, Ethereum, Tether, Litecoin, XRP, Bitcoin Cash, QCAD | Fund with USD | |
0.20% | Interac e-Transfer, Wire Transfer | BTC, BCH, ETH, LTC, XRP, XLM, EOS, AAVE, LINK | ||
 | Debit Card Buys | Bitcoin, Ethereum, 40+ more coins | Not the greatest for Canadians. | |
 | crytpo | 500+ more coins |
Recommended for Beginners Review Methodology
Buy and Sell Crypto on the App / Exchange
We use every app or service we review. Test how easy it is to use. How fast funding and deposits happen.
Customer Service
We send in customer questions via multiple channels to measure helpfulness and response time.
Advanced or Uniquely Helpful Features
What makes it special or unique to the competitors.
