Shakepay Reviews Read Customer Service Reviews of shakepay co

Although users can move funds out of their exchange-based wallets, Shakepay has integrated several security features to keep accounts safe and secure. Moreover, the platform is an excellent choice for beginner investors who want to start buying and selling cryptocurrencies. Newcomers will love Shakepay as it’s user-friendly and easy to navigate.

  • Step-by-step guide on how to buy Bitcoin in Canada on ShakePay.
  • CoinSmart, on the other hand, offers a wider selection of cryptocurrencies for trading, including popular altcoins like Litecoin and Ripple.
  • Coinbase is considered one of the industry’s most reliable exchanges in terms of security.
  • Other Shakepay features include basic charting, simple purchasing, and a slick mobile app.
  • The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you.

When you look at the buy and sell price of their digital currencies at any given time, you will notice the difference between them. This is pretty standard practice for many exchanges, but you may notice a more significant gap between Shakepays’ buy and sell prices than others. Looking for the best crypto wallets to store your Bitcoin and other cryptocurrencies? You now know the nuts and bolts of Shakepay, so let us talk about features and fees. Among the service’s most attractive features is its licensing.

Shakepay Review

There is an independent report on Shakepay’s procedures which can be found here. Shakepay allows you to deposit Canadian dollars into your account via Interac e-Transfer or wire transfer. There is only a $5 minimum with Interac and a $5,000 minimum with wire transfers. The $5 Interac minimum is a huge plus because a lot of other crypto exchanges will require at least a $50 minimum, sometimes $100.

shakepay review

As such, users can be confident that the company adheres to regulatory requirements, which validates the Shakepay business model. Crypto withdrawals are exempt from mining fees, but transaction processing times depend on network congestion at the time of order placement. This streamlined user experience caters to newbie crypto investors looking for an efficient onramp to the digital asset class.

Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you. On their website, Shakepay commits to responding to customer service issues within hours any day of the week. If you have a question of a general nature, you may be able to get your answer via their FAQs, which have plenty of information.

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If the consumers knew the specifics of these things, they would have greater confidence in the company. In a manner similar to that of Shakepay, Newton does not impose any fees for commissions but instead profits from the spread. Bitcoin and Ethereum are the only two cryptocurrencies that may be bought, sold, and traded via the Shakepay platform. There is one function that is exclusive to the mobile app, and that is ShakingSats. The Shakepay mobile app, on the other hand, has many of the key consideration limitations of the desktop platform. Shakepay provides a number of different measures to secure the security of your financial assets.

shakepay review

There is a price spread of 1% to 3% for every Bitcoin or Ethereum you buy or sell. You set up a purchase to go off at a specific time or regularly, just like setting up an automatic transfer through your bank. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same. For example, when a customer purchases ETH on Shakepay, the exchange sells it to them.

The exchange offers a wide range of features, including margin trading and OTC trading. Overall, Newton is excellent for those seeking a more advanced trading experience. When it comes to trading platforms, Shakepay and Newton are pretty similar. Each offers a web-based platform that can be accessed from any internet browser. It is clear that this is a category in which Newton has a clear advantage over Shakepay. As we previously mentioned, Shakepay supports a limited number of cryptocurrencies, currently only Bitcoin and Ethereum.

We don’t include all products or offers out there, but we hope what you see will give you some great options. At least in Canada, only Shakepay comes equipped with the unusual and intriguing function known as ShakingSats. You have the opportunity to get free cryptocurrency by joining Shakepay via a referral link.

Final Thoughts on Shakepay

You are certainly not alone if you are curious about how to buy cryptocurrency in Canada. With the surge in popularity of cryptocurrencies like Bitcoin and Ethereum in the recent… Shakepay is a money service business, and it is expected to follow FINTRAC regulations. Your cryptocurrencies on Shakepay are not insurance-covered by CDIC or CIPF.

shakepay review

Its support teams are prompt, friendly, and always willing to help. In addition, both Newton and Shakepay have developed mobile apps for iOS and Android devices. Users can download the apps from the App Store or Google Play and trade on the go. So, if we compare Shakepay and Newton in terms of the trading platforms, we can say that they are even. Newton is a Canada-based cryptocurrency exchange that allows users to buy and sell Bitcoin, Ether, Litecoin, and Ripple. The company was founded in 2018 and is based in Toronto, Canada.

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It’s important to do your research to figure out which one is the best fit for you. For more information, please read our editorial policy and find out how we make money. Shakepay is licensed as Money Service Business by FINTRAC and the AMF, meaning shakepay review they must comply with their regulations. It is your responsibility to declare any gains made from crypto investments to the CRA in your tax return. Now, let’s go over everything you need to know to make the most of its features and benefits.

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Shakepay is transparent regarding the privacy and security of its customers. This Shakepay review concludes that it is a dependable and trustworthy platform that delivers a seamless and user-friendly experience for investing in cryptocurrencies. So, whether you’re a beginner or a pro, Shakepay is worth considering. Bitbuy also has a more advanced trading platform that caters to more experienced traders. However, Bitbuy’s fees can be higher than Shakepay’s, especially for smaller trades. Shakepay and NDAX are Canadian cryptocurrency exchanges, but they have some notable differences.

Indeed, this is how Shakepay makes money – in the spread between the price they sell bitcoins or ethers and the price at which they buy bitcoins or ethers. While Shakepay only offers Bitcoin and Ethereum, Newton is a cryptocurrency brokerage offering a wide range of 48 coins. Users can also send and receive cryptocurrencies to and from other Shakepay users instantly and for free. Shakepay is one such platform that facilitates the purchase and sale of cryptocurrency. At any given time, there will be a difference between the price customers pay for crypto and the price at which they can sell. Every user that creates a Shakepay account is assigned an individual CAD, BTC, and ETH exchange-based wallet to facilitate trading.

Also, it allows you to enable 2-Factor Authentication to add an extra layer of protection for your account. And if you want extra security on your account, you can turn on email confirmations for withdrawals. That way, even if someone else has access to your account, they won’t be able to steal your funds.

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