That’s understandable, as it’s not as intuitive as buying your first Bitcoin in the first place, which for many people was purchased on Coinbase. Suspended me being able to send bitcoin for no reason and then never replied in the chat. Going to close my service and find somewhere else. Company refuses to honor their referral program even with proof. Says I’m in a different time zone even though I had 2 people sign up at the same time and one was honored while the other was not. Their inconsistency and incompetency almost made me loose all my btc.
- Shakepay is a great option for anyone looking for a convenient way to buy and sell crypto, as it has one of the most user-friendly exchanges and offers reasonable fees.
- They have not supported the fraud process at all – have not offered to help us recover the funds.
- They closed my account because they deemed I was a security risk.
- To earn FREE Bitcoin every day, open the mobile app and shake your phone.
Its offer of cryptocurrencies may be limited, but bitcoin and ether are the major coins that can be plenty for some investors. Shakepay is also a great choice for experienced traders who want a fast and easy way to trade. In my case, Shakepay offered me a markdown of 1.14% below BTC’s live market price. Again that’s one of the highest markdowns of all the exchanges I’ve tested so far.
Shakepay provides insurance for the funds held in cold storage. This includes insurance for most losses incurred by theft, hacks or misplacement of private keys. Shakepay’s insurance policy was created by Aon and underwritten by Lloyd’s of London. Shakepay is a Canadian crypto broker based in Montréal, Quebec.
Awful customer service
But Wire Transfer will require you to withdraw at least $5000 and Interac e-Transfer is still a minimum of $5 withdraw. Shakepay has also hired a 3rd party company – CipherBlade to audit their security system and internal processes. CipherBlade has given Shakepay the stamp of approval when it comes to regulation and system processes.
Customer service:
They own the bitcoin and they sell it to you at their price. That price is a little bit higher than the actual market price. The difference is the spread, and it’s how Shakepay makes money.
The material is not to be construed as an offer or a recommendation to buy or sell investments nor is it to be construed as investment advice. RankFi.com is not a registered investment, legal or tax advisor or a broker/dealer. All content should be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.
Shakepay review
NDAX had the lowest fee to buy Bitcoin with Canadian dollars (18 platforms tested). Shakepay has an impressive 4.5-star rating across 12,000 reviews on the Google Play store and an even higher 4.6-star rating across 18,000 ratings on the App Store. While Shakepay is considered safe, it still doesn’t replace a crypto wallet. A hardware wallet like the Blockstream Jade or Keystone Pro are the safest ways to store your crypto.
Shakepay Fees
Therefore Shakepay transaction fees are basically non-existent. Shakepay is a great option for anyone looking for a convenient way to buy and sell crypto, as it has one of the most user-friendly exchanges and offers reasonable fees. For example, Coinbase doesn’t allow you to buy or sell crypto with Canadian dollars. You can only purchase crypto with US dollars and then convert it to CAD. This means you’ll be charged conversion fees.
The lack of fees + clear transparency of security makes Shakepay a solid exchange to be on. Shakepay was founded in 2015 by Jean Amiouny and Roy Bredi and is based in Montreal. They have been making sure Shakepay fits the user’s needs. At the start, the spreads on Shakepay were a lot higher and Shakepay was able to listen to community feedback and reduced the spreads as low as possible. The same two methods can also be used to withdraw any Canadian funds from your account.
Horrible customer service, support takes forever and the have constant issue with withdrawals and deposits. Avoid completely, there are far better services out there. No way to contact Shakepay customer service if you cannot access your shakepay review account. I do not have access to my old telephone number, however, the only way to change number is to access account and verify with old number. Shakepay now holds an insurance policy for all digital currencies held in cold storage.
Anyone who signs up will also get a free course on understanding cryptocurrency in addition to the #shakingsats bonus and the $30 signup bonus. Just use this Shakepay link on this page to open your account. Also, Shakepay announced they have over 1 Billion Canadians on the platform. To buy Bitcoin (BTC), click on Buy & Sell, enter the amount of CAD you’d like to spend, and then click on Buy Bitcoin. Shakepay will give you a preview of the transaction and disclose the current purchase price.
Another downside is that Coinbase doesn’t offer a debit card, so you can’t spend your crypto anywhere. Looking for a convenient way to buy and sell Bitcoin and other cryptocurrencies? Shakepay may be the solution you are looking for.
This means it’s very secure and on top of which, Shakepay offers users a guarantee – If any private keys get lost or stolen, Shakepay will cover the cost of that. Here is another crypto platform that has failed me in many ways after dealing with over $400k Cdn. Now I want to use them to withdraw my capital, they are giving me problems, asking me who is helping? Making me sound like I have done something wrong.
I’ve reviewed a lot of Canadian cryptocurrency exchanges, and if you ask me, Shakepay is most comparable to another up-and-coming exchange, Newton. Like Shakepay, Newton does not charge fees on deposits and withdrawals, and they also offer e-Transfer and Wire transfer funding methods. I did and it said it couldn’t verify my selfie.
I have been with them with for awhile, and I shared my private information with them to get verified. Etransfer from bank deposited in about 3 minutes. Purchased bitcoin, no holds preventing transfer to separate wallet.