Shakepay Wallet is a Montreal-based technology company that provides financial applications for building wealth. Canadians from all walks of life—college students to retirees—use Shakepay to connect with the digital economy built on the Internet. Shakepay is a mobile crypto exchange and peer-to-peer wallet that is only available in Canada. Low fees, fast transactions and an easy-to-use interface have made the Shakepay app popular among its early users. But is it right for you? The Shakepay review will tell you everything you need to know.
Shakepay is a Canada-based platform for buying, selling, and storing Bitcoin and Ethereum via a smartphone or desktop computer. While the platform does not allow customers to hold their own cryptocurrency private keys when funds are stored in the Shakepay app, the company makes it easy for customers to move their funds to their own personal crypto wallets.
Shakepay Wallet Key Details
| Key | Details |
|---|---|
| Vendor Name | Shakepay Wallet |
| Supported Currency | BTC, LTC, DASH,ANKER, PAY, ETH |
| Wallet Features | FINTRAC #M17065696 AMF #904007 |
| Platforms | (Google Play) |
| Validation Type | SPV |
| Ease of Use | Easy |
| Support | 24/7 Support |
| Wallet HQ Location | Canada |
| Listed At Altwow | 17/09/2020 |
| Official Wallet Website | Click Here To Visit Wallet Website |
How To Install Shakepay Wallet?
Fees
Shakepay does not charge any direct fees to their customers for buy orders, sell orders, deposits, or withdrawals. However, Shakepay makes money on the spread between the buy and sell orders made through the platform. This leads to an effective fee rate of 1.75% per trade. Additionally, users who wish to make deposits or withdrawals via wire transfers may be charged additional fees by their respective banks.
Funding fees and timeline
Financial freedom in your hands
Shakepay allows Canadians to buy/sell bitcoin and pay their friends.
Bitcoin is important because it enables wealth to be stored with an individual without need for a third party. Its fundamental use-case as a store of value with a predictable monetary policy is having profound implications on freeing individuals into financial sovereignty.
Following Bitcoin, the entire suite of financial services is being rebuilt independently from the current financial infrastructure. They believe enabling access to these services is paramount to the creation of wealth and economic freedom.
How Does Shakepay Make Money?
One thing you may want to double-check is their buy-sell spread; while it’s usually fair and reasonable, it tends to vary at times so you may want to time your purchases. 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.
Why Choose Shakepay Wallet
Lightning fast
Get your personal or business account setup instantly and you’ll be owning your first bitcoin within minutes.
Commission-free
Buy & sell bitcoin and ethereum commission-free at market-leading prices.
Responsive support
We’ll get your issues resolved within hours any day of the week.
Store bitcoin securely
The majority of all digital currencies are stored securely offline and are backed by an insurance policy issued for Shakepay.
Your money in your control
Send out your bitcoin to a wallet in your control. Send out your Canadian Dollars to your bank. In seconds.
Regulated
Shakepay is licensed as a Money Service Business by FINTRAC and the AMF to operate in all Canadian provinces and territories.
Mobile app support Shakepay: Buy Bitcoin in Canada
Shakepay: Buy/Sell Bitcoin in Canada. Canadians buy and sell digital currencies in minutes with the Shakepay wallet. Supports Bitcoin (BTC), Ethereum (ETH), and Canadian dollars (CAD). Instant verification: Get your account setup in minutes, not days.
Fast free funding: Interac e-Transfer, wire transfers, BTC, and ETH. Get started with as little $5. No fees for funding or withdrawals. We cover miners’ fees for all outgoing transactions.
Legal and regulatory compliance
Shakepay has received a license as a Money Service Business from Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). As a result, the company must verify its customers to comply with anti-money-laundering (AML) and know-your-customer (KYC) regulations.
Is Shakepay Safe?
Shakepay is a relatively new addition to the cryptocurrency exchange world but has been exceptionally safe thus far. One thing that Shakepay has going for it that other exchanges don’t is that there is actual regulatory oversight regarding the business. Is it is licensed as a Money Service Business by FINTRAC and AMF, which are both financial regulatory bodies in Canada.
There are very few exchanges that have any sort of government oversight so Shakepay should be considered one of the safest exchanges currently in operation. Shakepay is also renowned for having exceptional customer service in case you ever run into issues with the software.