Shakepay Review: My 5-Star Experience with Canada's Crypto Exchange

Shakepay Review 2025: Is It Safe? Fees, Features & My Honest Experience

Looking for an honest Shakepay review? After using this Canadian crypto exchange for years, I can share everything you need to know — from Shakepay fees and safety to features like ShakingSats and the Shakepay Card. Whether you are asking "what is Shakepay" or "is Shakepay safe", this guide covers it all.

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What Is Shakepay?

Shakepay is a Canadian cryptocurrency exchange that lets you buy, sell, and hold Bitcoin (BTC) and Ethereum (ETH). Founded in Montreal, the Shakepay app is designed for simplicity — making it the go-to platform for Canadians who want to get into crypto without the complexity of traditional exchanges.

Key facts about Shakepay:

• Founded in 2015, headquartered in Montreal, Canada
• Over 1 million Canadian users
• Registered with FINTRAC as a Money Services Business
• Supports Bitcoin (BTC) and Ethereum (ETH)
• Available in all Canadian provinces and territories

Is Shakepay Safe?

This is the most common question people ask, and the answer is yes — Shakepay is safe. Here is why I trust it:

• Regulated in Canada: Registered with FINTRAC and compliant with CSA requirements
• Cold storage: The majority of crypto assets are stored offline in cold wallets
• 2FA security: Two-factor authentication protects every account
• Email verification: All transactions require email confirmation
• Track record: Operating since 2015 with over 1 million users and no major security breaches

If you have seen anyone asking "is Shakepay legit?" or worrying about a "Shakepay scam" — rest assured, Shakepay is one of the most trusted crypto platforms in Canada. It is not a scam.

Shakepay Fees Explained

One of the best things about Shakepay is its transparent fee structure:

Shakepay fees are built into the spread rather than charged as separate commissions. This makes the pricing simple and predictable. Compared to credit card crypto purchases (3-5%+) or Bitcoin ATMs (5-10%), Shakepay is very competitive.

How Does Shakepay Work?

Using the Shakepay app is incredibly straightforward:

1. Download the Shakepay app and create your account
2. Verify your identity (government ID + selfie)
3. Fund your account via Interac e-Transfer (free, arrives in minutes)
4. Buy Bitcoin or Ethereum with a few taps
5. Hold, sell, or withdraw your crypto anytime

For a detailed walkthrough, read our guide on how to buy Bitcoin in Canada with Interac e-Transfer.

Shakepay Features That Stand Out

ShakingSats

Shakepay ShakingSats is a unique feature that lets you earn free Bitcoin daily. Simply shake your phone once per day and receive satoshis (small amounts of BTC). The longer your daily streak, the more you earn. It is a fun, gamified way to stack sats at zero cost.

Shakepay Card

The Shakepay Card is a prepaid Visa card that lets you spend your crypto balance like cash. You earn Bitcoin cashback on every purchase — typically 1-2% back in BTC. It works everywhere Visa is accepted in Canada.

Round-Up Feature

The round-up feature automatically rounds up your everyday card purchases to the nearest dollar and invests the difference in Bitcoin. It is a hands-off way to accumulate BTC over time.

Direct Deposit

You can set up direct deposit to receive your paycheck directly into your Shakepay account. This makes it easy to automatically invest a portion of your income into Bitcoin.

My Honest Rating: 5 Stars

After years of using Shakepay, I rate it 5 out of 5 stars. Here is my summary:

• Ease of use: 5/5 — The cleanest, most intuitive crypto app in Canada
• Fees: 4/5 — Competitive spread, no hidden fees
• Security: 5/5 — Fully regulated, cold storage, 2FA
• Features: 5/5 — ShakingSats, Shakepay Card, round-ups, direct deposit
• Customer support: 4/5 — Responsive in-app support

Who Should Use Shakepay?

Shakepay is ideal for:

• Beginners who want a simple way to buy their first Bitcoin
• Canadians looking for a regulated, trustworthy exchange
• Casual investors who want to stack sats daily with ShakingSats
• Anyone tired of Binance not being available in Canada

If you need advanced trading features like limit orders or access to altcoins beyond BTC and ETH, you may want to supplement Shakepay with another platform.

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Frequently Asked Questions

Is Shakepay legit in Canada?

Yes — Shakepay is legit and fully regulated in Canada. It is registered with FINTRAC and trusted by over 1 million Canadians. It is not a scam.

What are Shakepay fees for buying Bitcoin?

Shakepay fees are built into the buy/sell spread (approximately 1.5-2.5%). There are no deposit fees, no withdrawal fees for Canadian dollars, and no account maintenance fees.

Does Shakepay report to the CRA?

Shakepay is registered with FINTRAC and follows Canadian tax regulations. You are responsible for reporting your crypto gains to the CRA. Consider using a crypto tax tool to track your transactions.

Can I use Shakepay outside of Canada?

Shakepay is designed for Canadian residents only. You need a Canadian bank account and address to use the platform.

How do I get the Shakepay referral bonus?

Sign up using referral code 8K3RGZD, buy $100 worth of Bitcoin or Ethereum, and receive $20 in free BTC instantly.

Disclaimer: This review reflects my personal experience. The article contains a referral link — sign up with code 8K3RGZD and we both receive $20 in Bitcoin.