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Shakepay Wallet Review

7.2

Secure Wallet

7.0/10

Easy To Setup

7.5/10

Support

7.0/10

Pros

  • The easiest way
  • Commission-free
  • Responsive support

Cons

  • No Live Chat Option
  • Shakepay is currently only available to Canadians
  • Cryptocurrency held in the Shakepay app is held by Shakepay rather than the individual user

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

KeyDetails
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 UseEasy
Support24/7 Support
Wallet HQ LocationCanada
Listed At Altwow 17/09/2020
Official Wallet Website Click Here To Visit Wallet Website

How To Install Shakepay Wallet?

Shakepay Wallet Step 1

First Download Shakepay Wallet Wallet App From App Store For Example ( Google Play, Or Apple Store. You Get Official Download Wallet Link At Shakepay Wallet Website.

Shakepay Step 2

Once You Successfully Installed Wallet.Than Start Creating Wallet By Filling Necessary Data Which Required By Wallet Like – Name , Email, Password Etc.

Shakepay Step 3

Download The Keystore File. This File Enable Or Allow You To Decrypt Your Wallet Just Alike Private Key Does, So If You Lose It Or Someone Gains Access To It, Your Coins Are Locked. Save This File On A USB Stick, Put It In A Ziploc Bag Or Waterproof Container, And Store It In A Safe Place .

Shakepay Step 4

Many Wallet Offer Private Key Features. If Kriptomat Offer Private Ket Features Than Follow This Guide – Snap “I Get, Proceed” And You Will See Your Private Key. Spare This Key By Printing Your Paper Wallet. Store This In A Safe Place For Example In Almira Or Any Zip Locker.

Shakepay Step 5

Once You Follow All Above Guidelines Than Your Wallet Successfully Setup. Now It Is Time To Store Coin.

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.


editor