Shakepay Crypto Exchange Review

An easy to use and trusted exchange for beginners to buy and sell bitcoin.

We publish unbiased reviews; our opinions are our own and are not influenced by payments we receive from our advertising partners. Learn about our independent review process and partners in our affiliate disclosure.

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.

Shakepay Review

Overall Rating


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.

~1% – 2%

Withdraw Fee

Funding Options
· Interac e-Transfer
· Wire Transfers
· Crypto

Coins Available
Bitcoin, Ethereum

Current Offer
· Get $30 when you deposit $100 or more.
· Unlock shaking sats rewards.
· Referral code:

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.


  • Free withdraw fees
  • Simple to use app UI/UX
  • Limit orders
  • Setup recurring purchases


  • 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

Shakepay 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

Chat support is available through the app. Shakepay usually responds within a few hours. They also maintain and are responsive to support questions though their; Discord, Twitter, Reddit and Facebook social media channels.

Company Info

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.

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


Fees / Spread

Funding Options

Available Coins



~0.5% spread
Check Prices

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
👍 Recommended for Beginners

Shakepay Website

~1% – 2% spread

Check Prices

Interac e-Transfer, wire transfers

Bitcoin, Ethereum

Get $30 Sign Up Bonus
👍 Recommended for Beginners

Learn how to earn free BTC with Shakepay


Interac e-Transfer, wire transfers, bank draft

Bitcoin, Ethereum, Litecoin, XRP, EOS, Stellar, DOGE, Cardano, Tether, Chainlink, DOT

Get $10 Sign Up Bonus
Fast and easy signup.

Interac e-Transfer, bank Transfers

Bitcoin, Ethereum, 100+ more coins

Get $25 USD
*when staking CRO

Kraken Website

Wire transfer, In-person (Canada Post), Etana Custody

Bitcoin, Ethereum, 50+ more coins50+ more coins

Crypto to crypto trading pairs

Minimum $5 Fee

Interac e-Transfer

Stablecoins -CADC, DAI, USDC, BUSD, USDT

OTC desk with a minimum of $25k per transaction


~0.5% spread

Check Fees

Interac e-Transfer, online bill payment, bank wire transfer

Bitcoin, Ethereum, Tether, Litecoin, XRP, Bitcoin Cash, QCAD

Fund with USD

Interac e-Transfer, Wire Transfer


Review Methodology

Community Reputation
We research social media mentions on Reddit, Twitter and app store ratings over the last year to aggregate a reputation rating.

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.

Errors or corrections? Contact Us.