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.

Shakepay Review

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

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

Exchange

Fees / Spread

Funding Options

Available Coins

Notes

Newton Website

~0.5% spread
Check Prices

Interac e-Transfer, wire transfers, pre-authorized debit, crypto

Bitcoin, Ethereum, Litecoin, Ripple, DOGE, Tether, Bitcoin Cash, Stellar Lumens, USD Coin, and QCAD

Get $25 Signup Bonus
👍 Recommended for Beginners

Shakepay Website

~1% – 2% spread

Check Prices

Interac e-Transfer, wire transfers, crypto

Bitcoin, Ethereum

Get $10 Signup Bonus
👍 Recommended for Beginners

Learn how to earn free BTC with Shakepay

Kraken Website

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

Bitcoin, Ethereum, 50+ more coins50+ more coins

Crypto to cryto trading pairs

ndax

Interac e-Transfer, wire transfers, bank draft

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

Get $10 Signup Bonus
Fast and easy signup.

PayTrie

0.6%
Minimum $5 Fee

Interac e-Transfer

Stablecoins -CADC, DAI, USDC, BUSD, USDT

OTC desk with a minimum of $25k per transaction

Gemini

~0.5% spread

Check Fees

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

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

Fund with USD

PayTrie

Debit Card Buys
3.99%

Bitcoin, Ethereum, 40+ more coins

Not the greatest for Canadians.
Coinbase Pro trading platform for cheaper fees

crytpo

500+ more coins

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.