Thank God I shakepay review did not transfer thousands into this account as I would have been very disappointed and let down. If you look at my history please pay attention, I have transferred tens of thousands of dollars and not what time did I had this kind of issue with the same email address. Now, I tried to transfer a couple hundreds and it is taking over 48hours to process? I informed your employee Joey that I needed to transfer this amount asap in order to pay a bill.
#1. Only offers BTC and ETH
- Quick inquiries can often be resolved efficiently, but more complex issues might require back-and-forth messaging.
- Unlike other crypto platforms, Shakepay doesn’t charge a commission when you buy or sell crypto.
- In a nutshell, Shakepay is a platform for Canadians from all walks of life to buy, sell, and store cryptocurrencies.
- Always double-check external wallet addresses when withdrawing crypto.
While some may prefer phone support, Shakepay opts for a text-based approach, which has its pros and cons. Quick inquiries can often be resolved efficiently, but more complex issues might require back-and-forth messaging. The reward varies depending on when the referee signs up, and there are often special promotional rewards available. Shakepay tracks referrals through unique codes, so you can earn rewards for each new user who makes a qualifying purchase. For which purpose or what kind of people is the crypto exchange most useful.
Comment Shakepay se rémunère-t-elle (frais de trading, spreads, commissions) ?
That said, they make it easy to send funds to personal crypto wallets. Shakepay is a small Montreal-based tech company that believes in empowering Canadians from all walks of life to gain financial independence through cryptocurrency trading. It is considered to be one of the best crypto exchanges in Canada. Shakepay keeps the majority of funds offline, in cold storage, so you know it’s always safe. And the provider of their cold storage is regulated by the New York Department of Financial Services (NYDFS).
What is the minimum deposit to start trading on Shakepay?
Shakepay provides a fantastic means for beginners to start buying and selling cryptocurrencies. However, Shakepay does make money through the spread between buying and selling Bitcoin and Ethereum. The spread is equal to the difference between what it is bought and sold at.
Worst Customer Service – Freezing your funds.
The company states that it carries insurance coverage on its crypto holdings but does not publish formal proof-of-reserve attestations. Shakepay currently does not offer staking, lending, or yield-generating products. This means users cannot earn passive income on their held coins nor participate in protocol-based DeFi opportunities. Similarly, no CFDs, NFT marketplace, or derivatives trading is available, so advanced traders seeking exposure beyond spot markets will not find those features here. I personally spent a significant amount of time testing and reviewing Shakepay to give you an honest perspective.
Most appauling investment experience…
- I thereafter tried to contact them through their site, phone and email, and they never responded.
- Shakepay will then add Satoshis (Sats), the lowest unit of Bitcoin, to your BTC wallet.
- If you make frequent transfers in BTC and ETH and only care about those two digital assets, then Shakepay could be for you.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Select the bank account to transfer funds to, enter the CAD amount you wish to withdraw, and select Continue. From the app’s main page, click on Send, then select Wire Transfer to my bank. Enter your email address and choose a username for your new account. Make sure the email address is one you can access, as Shakepay will send a confirmation email shortly after. Overall, Shakepay’s fees are pretty straightforward, with no surprise charges for everyday transactions.
If you’re wondering how they make money as a company, then know that they adjust the prices that you can buy or sell cryptocurrencies. They hired a security firm to independently review their internal procedures for storing funds and processing transactions. The review was published for anyone to read and covers how they use hot wallets and cold wallets.
The card is integrated into the Shakepay app, making it easy to track spending, manage balances, and even earn Bitcoin rewards on every purchase. Still, it is a convenient way to use crypto seamlessly in Canada and stands out for its simplicity and lack of direct fees. The downside is that Shakepay charges one of the highest markups/downs of the major crypto exchanges that I’ve tested so far. Having said that, the total cost of trading is offset by the fact that there are no trading fees on top of the markup. I’ve spent time exploring the app, and I have to say—it’s one of the more enjoyable crypto platforms to navigate. The interface is clean, straightforward, and free of unnecessary clutter, making it easy to focus on key features.
Since then, it has expanded its user base and services within Canada, focusing on simple and secure crypto transactions. Additional services play a crucial role in expanding the utility and convenience of crypto platforms, providing users with added value beyond basic trading functions. Staking, DeFi staking, and lending services have become essential tools for crypto investors seeking to earn passive income and maximize the productivity of their digital assets. Like we mentioned above, most digital currencies held at Shakepay are stored offline in cold storage wallets. The cold storage provider is regulated under the New York Department of Financial Services (NYDFS) who holds SOC 1 Type II and SOC 2 Type II certifications. The reward increases every day so make sure you don’t break the streak!
Fiat withdrawals and deposits are also free, and most common funding methods like Interac e-Transfer do not incur additional costs. What can add up are currency conversion costs if I move funds between CAD and USD—Shakepay applies its own rates, which might include an embedded spread. To start buying, you need to use Interac e-Transfer to deposit money from your banking account to your Shakepay wallet.
Prise en charge des Cryptoactifs par Shakepay
Shakepay, on the other hand, is exclusive to Canadian residents and only operates in CAD. Customer support plays a crucial role in any crypto exchange experience, and Shakepay is no exception. The platform provides assistance through a support chat, allowing users to reach out via the app or website. In addition to ShakingSats, Shakepay offers a Referral Program that allows users to earn rewards by referring friends to the platform.
