How Does Shakepay Make Money?

By • • Research Methodology
Who writes this: Guides, reviews, and exchange comparisons are researched and maintained by the HowToBuyBitcoin101 Research Team, independent Canadian digital asset analysts evaluating platform solvency, order book liquidity, and regulatory compliance since 2018.
How we test: We open verified accounts, deposit Canadian dollars ($CAD) via Interac e-Transfer, execute real trades to calculate true bid-ask spread markups, and test withdrawal execution to cold hardware wallets.
Regulatory verification: FINTRAC Money Services Business (MSB) registrations and Canadian Securities Administrators (CSA) restricted dealer orders are cross-referenced with public provincial securities registers. Editorial policy.
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Shakepay makes money on the spread between the price they buy and sell crypto to their customers. This spread rate is usually ~1 to 2%.

Fee to withdraw Bitcoin and Ethereum on Shakepay?

Shakepay covers the miner fee when withdrawing cryptocurrency. There is a minimum amount to withdraw depending on coin and network fees at the time.

Does Shakepay Pay Gas Fees?

Gas fees are covered by Shakepay. There is a minimum withdrawal amount that changes depending on gas fees at the time on the Ethereum network.

Is Shakepay Trustworthy?

Shakepay is one of Canada's largest (~600.000+ customers.) crypto exchanges. Shakepay is has a good reputation and is trustworthy.

A Montreal-based company that has over 50 employees. It was founded in 2015 and is a legal and regulated Canadian crypto exchange.

What does Shakepay Do?

Shakepay allows Canadians to buy or sell bitcoin and Ethereum.

A Montreal-based company that has over 50 employees. It was founded in 2015 and is a legal and regulated Canadian crypto exchange.

  • Exchange Bitcoin or Ethereum only
  • Set up limit buys/sells
  • Recurring purchases

How does Shakepay Work?

  • Create and verify your account
  • Deposit funds to and from your bank account with Interac eTransfer or wire transfer.
  • Withdraw crypto to your wallet or send crypto to Shakepay to sell
  • Buy/sell crypto with $ CAD
  • Earn 1% in free bitcoin to your Shakepay account when you shop with any Visa merchant
  • Earn free Bitcoin daily with Shakepay ShakingSATS

Here is a step-by-step walkthrough on how to buy and transfer Bitcoin from Shakepay to a wallet.

Shakepay Overview

Related

Read the Shakepay Review

Compare Shakepay to other Top Canadian Crypto Exchanges

In-depth comparison: Shakepay vs Newton

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