Step 1: Open ShakePay Account?
Log into your ShakePay account. Don’t have a ShakePay account?
SIGN UP HERE & GET $30 CASHBACK
Step 2: Add Funds
Add funds to your ShakePay wallet. The easiest way to fund your ShakePay wallet is via Interac. On your phone, click on “Add funds”
- Under: Choose a funding option, select “Interac e-Transfer”
- Next, the details on how to send the Interac e-transfer from your Canadian bank account to ShakePay is displayed
- Under: Important instructions, ShakePay Interac e-transfer email is displayed : firstname.lastname@example.org
- For the Interac question, copy and paste your shakepay username displayed @yourshakepayusername
- Interac security answer: copy and paste the security answer displayed Note that it can take up to one hour for ShakePay to receive the transfer. Usually, this takes a few seconds or minutes.
Note: Ensure you include your unique reference code in your Interac transfers from your Canadian bank account to ShakePay. (that is, the Interac question and Interac answer displayed in your ShakePay account)
Without this reference code, ShakePay is unable to match your deposit to your account. Also ensure that the name on your bank matches the name in your ShakePay account to avoid any delay in deposits.
Step 3: Send Interac
- Log into your Canadian bank account and send the funds per the instructions in steps 2.
- Once your account has been funded, click on the blue button with arrows right at the bottom of the page
Step 4: Buy Ethereum
Next, click on “Buy & Sell” INSTANT.
- Under From: Dollars is displayed. This shows the amount of Canadian dollars in your ShakePay wallet.
- Under To: Bitcoin, select the drop down arrow right next to Bitcoin and select Ethereum.
- Enter the dollar amount of Ethereum you intend buying e.g. $100
- Once the dollar amount is entered, the corresponding Ethereum quantity is displayed under To: Ethereum.
- To use all the dollar amount in your ShakePay wallet, click Max
- Else, enter the dollar amount of Ethereum to buy
- Then click “Buy Ethereum”
- Confirm transaction page is displayed
- Click “Confirm”
- Order confirmation page is displayed: Just bought Ethereum
- Congrats! You just bought Ethereum
Step 5: Transfer Ethereum To Ledger Nano X:
Next, it’s important to transfer your Ethereum to your cold wallet such as Ledger Nano X.
As explained in our Crypto Investing for Beginners, it’s essential to move your crypto offline to a cold wallet such as Ledger Nano X and never leave it on any crypto exchange.
Remember, the first rule for investing in cryptocurrency is: Never Leave Your Bitcoin or any crypto on any exchange to prevent loss due to theft, hacker & rug pulls.
Here’s a step-by-step guide on how to transfer your Ethereum off ShakePay into your external cold wallet: Ledger Nano X.
▶️ VIDEO: HOW TO TRANSFER ETHEREUM FROM SHAKEPAY TO LEDGER
To get your Ledger wallet from the official website, click here
SHOP LEDGER NANO X? CLICK HERE