It seems that many other users have experienced a similar turnaround time. To earn FREE Bitcoin every day, open the mobile app and shake your phone. Shakepay will then add Satoshis (Sats), the lowest unit of Bitcoin, to your BTC wallet. You can also earn additional free Bitcoin, called #SecretSats, by completing missions. Click on Buy & Sell, select your BTC wallet, enter the units of BTC you’d like to sell, and then click on Sell Bitcoin.
Shakepay doesn’t charge direct trading fees, but it applies a spread to transactions, which can lead to higher costs depending on market conditions. Kraken, by contrast, has transparent trading fees ranging from 0% to 0.40%. Those who trade in larger volumes get even lower rates, making Kraken a more cost-effective choice for active traders. Shakepay is a commission-free platform, meaning there are no trading fees when buying or selling crypto.
What are the fees on cryptocurrencies?
Limit orders are a type of order that executes only when the price of the assets reaches a limit price. It also implies that Shakepay will report your profits to the CRA. Canadian citizens are required to pay tax on any capital gains they make from trading crypto. This means you will need to verify your ID and share personal data such as your name, email address, home address, and phone number.
Comparison to Other Popular Exchanges
Even though “shaking” for free Bitcoin seems a little too good to be true, the crypto exchange now services over a million people. If you’re a Canadian citizen or permanent resident, then you’re free to use Shakepay on both desktop and mobile. The crypto exchange is accessible from any operating system and available on the Google Play and iOS app stores. Also, none of Shakepay’s staff can withdraw money from their cold storage wallets.
Autres services
Coinbase has a fee structure that includes both flat rates for transactions under $200 and percentage-based fees for larger transactions. While Coinbase offers more variety in payment options, the fees on smaller transactions can be steep, with a base rate of 4% for transactions under $200 in the US. The lack of phone support could be a drawback for customers who prefer speaking to a representative directly. While chat-based support is standard for many online services, some users may find it less personal or effective for resolving more nuanced issues. Whether or not the cryptocurrency exchange is supported & active in the country you're currently in. Enabling 2FA at sign-up adds an extra layer of security to your Shakepay account.
#3. You need to share your personal information
Buying and selling crypto happens at the press of a button, and you can set up recurring buys by selecting the auto-buy feature. You can also turn on a setting in your account to confirm transactions via email as an additional security precaution. You usually have to pay this fee regardless of which platform you use to transfer your crypto. Except in the case of Shakepay, Shakepay covers the cost of this fee on your behalf.
While Shakepay is a solid choice for Canadians, US users will need to explore other platforms for their crypto trading needs. Shakepay crypto fees can vary depending on market conditions, and users typically pay a spread for each transaction. Depending on your location, rates for popular cryptocurrencies like Bitcoin and Ethereum range from 1.4% to 1.6%. Shakepay is designed for Canadians who want a simple and efficient way to buy and sell Bitcoin and Ethereum without dealing with complex trading tools. Its intuitive interface, fast funding options, and low fees make it especially appealing to beginners and casual investors who want a hassle-free crypto experience. Shakepay maintains a combination of hot and cold storage methods, with the majority of assets held in cold wallets.
Instead, it makes money through the spread, which is the difference between the buying and selling price quoted to users. Shakepay is a legit platform that operates with robust security measures, providing Canadian users with a reliable crypto management solution. However, it lacks some advanced features seen on exchanges like Kraken, Coinbase, and Uphold, which provide more variety in assets, trading options, and even staking rewards. For advanced traders, Kraken offers spot, margin, and futures trading, catering to different strategies.
The platform’s automated purchase options and cold storage practices appeal to these users, even though token choices are limited. To add to that, transactions from their cold wallets are restricted to a whitelist, meaning that unauthorized withdrawals to any address Shakepay hasn’t approved are banned. Otherwise, you can transfer in Bitcoin (BTC) and Ethereum (ETH) from shakepay review an external crypto wallet.
- Many Shakepay reviews point out the responsiveness of the support team.
- With a reputation for simplicity and strong security, Shakepay claims to make cryptocurrency accessible to all Canadians.
- This was because everyone thought Bitcoin’s use case was to be a medium of exchange rather than a store of value.
Shakepay currently holds a Trustpilot rating of 4.2 out of 5 based on 2,100 reviews. Note that transfers are usually instant, but in some cases, it may take up to an hour for Shakepay to receive your funds. To help you streamline purchases, you can set rules on Shakepay to have the app automatically buy Bitcoin or Ethereum at the frequency you want. The team at WealthRocket only recommends products and services that we would use ourselves and that we believe will provide value to our readers. However, we advocate for you to continue to do your own research and make educated decisions. Claim your profile to access Trustpilot’s free business tools and connect with customers.
They also segregate accounts, keeping your CAD in specific bank accounts and digital currencies in designated cold storage. 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. But remember, there are no additional trading or transaction fees added on.
Avis Shakepay : mon expérience 5 étoiles avec la plateforme d'échange de cryptomonnaies canadienne
- Shakepay applies a spread on each transaction, which may result in higher costs depending on market fluctuations.
- Once you’ve submitted your identification and your video, you will need to wait up to 7 days for Shakepay to verify your account before you can start trading.
- Shakepay stands out in the Canadian crypto space for its regulatory transparency and user peace of mind.
- It’s an extremely safe cryptocurrency exchange, and they are very transparent about their safety measures.
- While Shakepay’s wallet is user-friendly and suitable for quick access, it is not non-custodial—meaning users do not control their private keys.
That’s a lot of acronyms…but all you need to know is that Shakepay is strictly regulated. When you want to start a transaction, multiple authorizations are required. Shakepay goes the extra mile to make sure that your account is secure with them and that they’re taking enough measures to give you peace of mind. She has spent more than five years in content strategy, writing for fin-tech, travel, crypto, and social media companies. Now, let’s dig deeper into their services and see where they excel and where there’s room for improvement.
To give you more confidence, know that Shakepay has never been hacked or lost any of their users’ funds. For example, if you sold $100 worth of crypto to Shakepay, they may resell it at $110, with the $10 difference being their revenue to cover operating costs. You can either buy or sell instantly at the current price or place an order to trade at a price you desire. If you want to stay in the loop, you can even set notifications for when Bitcoin or Ethereum has reached a certain price. Shakepay is one of the few options available for crypto trading in Canada and is loved by many, constantly throned at the top of the App Store and Google Play. Once you verify your email, you will need to enter a Canadian phone number, which Shakepay will use for authentication purposes.