Shakepay vs Kraken: Which Canadian Crypto Exchange Is Better? (2026)

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.
Affiliate disclosure: Some links are referral links that may generate a commission at no cost to you. Commercial partnerships never dictate fee calculations, safety ratings, or editorial verdicts. Full disclosure.

Comparing Shakepay and Kraken — fees, regulation, supported coins, and which is better for Canadian crypto investors.

Shakepay
~0.5% - 2.0% Spread
$20 CAD Bonus
  • Deposit: $0
  • Withdrawal: Free (Normal)
  • Regulation: CIRO / CIPF
  • Coins: 3 (BTC, ETH, USDC)
  • Best For: Beginners & Free BTC
Visit Shakepay →
TOP PICK
Kraken
0.16% - 0.26% (Pro)
Up to CA$350 Bonus
  • Deposit: 0.5% - 1.5%
  • Withdrawal: Low Network Fee
  • Regulation: FINTRAC / CSA
  • Coins: 200+
  • Best For: Lowest Trading Fees
Visit Kraken →
On this page

Both Shakepay and Kraken are popular options for Canadians looking to buy and sell cryptocurrency. Here's how they compare on the metrics that matter most.

Direct Fee Comparison

Feature Shakepay Kraken
Trading Spread ~0.5% - 2.0% ~0.16% - 0.26% (Pro) / ~1.5% (Instant)
Deposit (Interac) $0 0.5% - 1.5%
Crypto Withdrawal Free (Normal ~12hr) / Network fee (Fast ~10min) Network fee
Regulation CIRO Dealer (CIPF) Ontario Securities Commission (OSC) Pre-Registration Undertaking
Best For Beginners, daily dollar-cost averaging, and free Bitcoin withdrawals Advanced traders, high liquidity, margin & crypto-to-crypto pairs
Signup Bonus $20 CAD → Up to CA$350 →

Who Should Pick Shakepay?

Shakepay is best for beginners, daily dollar-cost averaging, and free bitcoin withdrawals. It's headquartered in Montreal, QC and has been operating since 2015.

Who Should Pick Kraken?

Kraken is best for advanced traders, high liquidity, margin & crypto-to-crypto pairs. It's headquartered in Vancouver, BC / Global and has been operating since 2011.

Final Recommendation

  • Choose Shakepay if you prioritize beginners, daily dollar-cost averaging, and free bitcoin withdrawals.
  • Choose Kraken if you prioritize advanced traders, high liquidity, margin & crypto-to-crypto pairs.

Looking for a different matchup?

Browse All Exchange Comparisons →

Frequently Asked Questions

Which has lower fees, Shakepay or Kraken?

Shakepay charges a spread of ~0.5% - 2.0%. Kraken charges ~0.16% - 0.26% (Pro) / ~1.5% (Instant). Compare the total cost including deposit and withdrawal fees for your specific purchase size.

Are Shakepay and Kraken regulated in Canada?

Yes. Shakepay is CIRO Investment Dealer (Jan 2025) / CIPF Member. Kraken is Ontario Securities Commission (OSC) Pre-Registration Undertaking. Both are registered MSBs with FINTRAC.

Can I deposit Canadian dollars on both platforms?

Yes. Both Shakepay and Kraken support free Interac e-Transfer deposits. Shakepay deposit fee: $0. Kraken deposit fee: 0.5% - 1.5%.

Which platform supports more cryptocurrencies?

Shakepay supports 3 coins. Kraken offers multiple cryptocurrencies.