ShakePay Review 2023 | Canadian Crypto Exchange

SHAKEPAY: Simple Canadian crypto exchange to buy and sell Bitcoin and Ethereum within minutes. This is a comprehensive review of ShakePay and features pros, cons, fees, account features, deposits, withdrawals and coins available for crypto investing in Canada

Hello, I’m Blooming Umoren.👋 In this tutorial, we’re going to review ShakePay, a beginner-friendly Canadian crypto platform to buy and sell Bitcoin.

If you have any question(s), leave them in the comments section below and I will answer them. Feel free to connect with me on Youtube, Facebook, Instagram or Twitter.

So let’s go straight into today’s tutorial:

ShakePay Overview:

1. What is ShakePay?

What is ShakePay? ShakePay is one of the easiest crypto exchanges in Canada to buy and sell Bitcoin instantly for $0 commission. Founded in 2015, ShakePay offers a very simple, beginner-friendly crypto platform for the Canadian market. Headquartered in Montreal, Quebec, ShakePay offers crypto services to customers in Canada.

ShakePay: Benefits & Pros

Excellent choice for beginners. ShakePay is suitable for individuals that are new to crypto investing. With a simple, user-friendly crypto platform specifically for beginners, ShakePay is one of the simplest cryptocurrency exchanges in Canada to buy and sell Bitcoin and Ethereum for $0 commission.



ShakePay offers free deposits for bank deposits in Canadian dollars and cryptos. That is, individuals can initiate free Interac deposits from your Canadian bank account to ShakePay account. You can also deposit cryptos for free into your account. Learn more


ShakePay offers free Interac withdrawals to your Canadian bank account as well as free crypto withdrawal fees. Learn more

ShakePay Fees: 

ShakePay offers no trading fees for buying and selling cryptocurrency. However, ShakePay features variable price spread on buy and sell trades ranging from 1% – 3%.

Customer Support: 

Offers responsive customer service support including email and chat support.

Crypto offered: 

ShakePay offers only 2 coins. These include Bitcoin and Ethereum.

This implies that you can fund your ShakePay account with Canadian dollars directly and buy either Bitcoin and/or Ethereum.

How To Fund Your ShakePay Account?: 

ShakePay offers multiple funding and deposit methods including Interac e-transfer,  wire transfer and crypto. 

The easiest way to fund your ShakePay account is via Interac e-transfer. Once you initiate the Interac e-transfer from your bank, it takes as little as 30 secs for the funds to show in your account. 

To ensure your Interac e-transfer goes through without any hassle, ensure you include your unique reference code in your Interac transfers from your bank to ShakePay. There’s usually an option to include a note or message with your Interac transfer, ensure you include your reference code there. 

Without this reference code, ShakePay will be 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.

Crypto Transfer To Wallet: 

ShakePay supports transfers of your crypto from ShakePay to other crypto exchanges platforms or cold wallets 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.

To get your Ledger wallet from the official website, click here


How To Open A ShakePay Account?: 

To get started, sign up here and get $30 bonus once you fund your account with $100 or more and buy any crypto of your choice. 

ShakePay offers quick  id verification for new customers which means you can start buying any crypto as soon as you create and fund your account. 

To open a ShakePay account, you’ll need to provide these information:

  • Name 
  • Username
  • Email
  • Password
  • Phone number
  • A valid government issued photo ID e.g. driver’s license, passport, provincial ID card
  • A selfie of yourself

Once your account registration is complete and verified, you can then fund your account via Interac e-transfer for ease. 

ShakePay Referral Code & Program: $30

To earn $30 sign up bonus, click here

Or use ShakePay Referral Code: MFZ0JPC

Recurring Buys

Automatically buy Bitcoin or Ethereum daily, weekly or monthly.

Limit Orders

Place a buy or sell order at a price you set

Other Features:

Quick deposits and withdrawals, responsive customer support, secure digital asset storage, insurance policy and many more.

ShakePay: Cons

Limited Coin Selection

ShakePay offers only 2 crypto currencies – Bitcoin and Ethereum. This is very, very limited coin selection given that there are more robust Canadian crypto exchanges such as NDAX that offers over 28+ coins, Newton offer over 70+ coins and global crypto exchange platform such as Binance offers over 400+ coins.

Serves Canadian Market Only

ShakePay serves customers only in Canada and accepts only Canadian dollars for fiat deposits.

No Staking 

As of the publishing of this article, no staking feature available on ShakePay.


ShakePay offers a beginner-friendly platform for crypto investing. You can buy Bitcoin in as little as 10 minutes once you fund your account with Interac e-transfer. It offers free deposits and withdrawals and commission free-trades.

To start investing in crypto with ShakePay: $30 bonus


ShakePay Frequently Asked Questions (FAQs)

Is ShakePay Safe?

Yes, ShakePayis safe. ShakePay stores the majority of all its digital currencies (cryptocurrencies) offline securely in a cold hardware wallet and it’s backed by an insurance policy issued by ShakePay.

Shakepay is licensed as a Money Service Business by FINTRAC and Revenu Québec to operate in all Canadian provinces and territories

Is there staking on ShakePay?

No staking feature available on ShakePay. 

How much does ShakePay charge to withdraw?

ShakePay offers free Interac withdrawals to your Canadian bank account as well as free crypto withdrawal fees. However, ShakePay offers a variable price spread on buy and sell trades ranging from 1% – 3%.

How do I get my $30 from ShakePay?

Use promo code: MFZ0JPC​  or use this link to sign up

Once you sign up and buy any crypto worth $100 or more, you’ll get $30 credited to your ShakePay account.

Step-by-step tutorial on how to invest in Bitcoin. The goal of this crypto for beginners tutorial is to make the process of investing in crypto as easy as possible for you. READ MORE


If you have any question(s), leave them in the comments section below. Feel free to connect with me on Youtube, Facebook, Instagram or Twitter.

See you in the next class! 👋

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I’m Blooming Umoren. I enjoy teaching about stock market & cryptocurrencies investing as long term cornerstones for creating and building multi-generational wealth.

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