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You will need to download the app to access the full range of Shakepay features. You can also send your BTC and ETH holdings to an external crypto wallet. This method is also free but subject to blockchain network fees. Here is another crypto platform that has failed me in many ways after dealing with over $400k Cdn. Now I want to use them to withdraw my capital, they are giving me problems, asking me who is helping?
- Users will need to download the Shakepay app to take advantage of the ShakingSats rewards.
- This means we are unable to add any funds to this account nor use any of the functions.
- Becareful, she swear for her 2 son that she is not a scammer but she steal my btc, and worst to recover it she ask to put another 14k!
If you join Shakepay through a referral link, you can get free crypto. You need to open the app every 24 hours and shake your phone (not a joke, just shake it), and free crypto will be deposited in your account instantly. Understanding that many users are new to crypto and Shakepay as a company, Shakepay also commissioned an independent review of their business to verify their claims. Their Proof of Reserves & Security Report is available to the public for review, meaning you can see exactly what security processes are in place.
Newton supports Interac e-Transfer, wire transfers, pre-authorized debit, and crypto. Because of the way Shakepay operates and the fact that it’s not a traditional crypto exchange, I was concerned about the possibility of fractional reserves. Fractional reserves are when you’re purchasing assets that the company doesn’t actually hold. Luckily, Shakepay does not have a fractional reserve, so when you buy a digital currency from them, you can rest assured that it actually exists. If you want to learn more about their security features, you can check it out on their site. From the desktop version, you will not be able to access your Shakepay Card and its related features.
This means we are unable to add any funds to this account nor use any of the functions. An honest guy that just can’t seem to get ahead to injustice claims. I have been with them with for awhile, and I shared my private information with them to get verified. My account had limited functionality when my withdraw.
What Coins are Available on Shakepay?
In this Shakepay review, I’ll cover all of the basics, from fees to privacy and security, and I’ll let you know how they compare with another fast-growing crypto exchange. Once the funds have been deposited, traders can use the Shakepay platform to buy and sell cryptocurrencies. One of the great things about Shakepay is that it charges low fees relative to other exchanges. It also offers a great mobile app that makes buying and selling cryptocurrencies on the go very easy, but we’ll get to that later.
Really conditions need to be put in place against evil companies like shakepay. I am writing this on behalf of people who are to devastated and broken to know where to recover from. Once in their shoes, I was able to find a firm that worked on reclaiming my moiney. Thanks to a review down below, I found ref_undcar t(spelt together, google search them).
It’s taken 9+ days to verify my account…
Shakepay may have limited features, but it remains one of the simplest and safest platforms for Canadians to use if they are looking to gain exposure to crypto’s two most notable coins. Shakepay was hit with a $10-million lawsuit over alleged hidden fees. The suit claims that Shakepay attracts users by using shakepay review terms like “commission-free” but intentionally keeps trading spreads high, resulting in significant hidden fees. Interac e-Transfers can arrive in a few minutes while wire transfers take 1-2 working days. Shakepay and Wealthsimple were dealt a lawsuit over accusations of hidden fees on their platforms.
I’ve used Shakepay to buy and sell both…
Looking for a convenient way to buy and sell Bitcoin and other cryptocurrencies? This Shakepay review will take an in-depth look at the features offered by this crypto exchange and compare it to some of its top competitors. With Shakepay, you can only buy or sell Bitcoin and Ethereum. You cannot access any other coins nor can you swap between them.
I informed your employee Joey that I needed to transfer this amount asap in order to pay a bill. To find the best Canadian crypto exchange, I bought Bitcoin on 18 platforms to compare total fees, prices, and spreads. Shakepay had a total BTC purchase fee of 1.03% (4th place). The total BTC selling fee was 1.21% (5th place) and the spread was 2.26% (12th place) on the day we tested.
Fees and Deposit & Withdrawal Methods
What kind of company is this, registered with FINTRAC, what a joke, lets see if i can even send an E-transfer from Shakepay back to my account… So be very careful, with this two companies, are scam. Shakepay is a type of cryptocurrency exchange platform (some may not consider it an exchange in the strictest of terms) where Canadians can sell and buy both Bitcoin and Ethereum. It’s one of the easier platforms to use, making it ideal for beginner crypto investors. That said, the limited crypto coins on Shakepay might not make this the best platform for more advanced crypto buyers and sellers. ShakingSats is an interesting feature that’s unique to Shakepay, at least in Canada.
Shakepay uses 2-Factor authentication for additional security. You’ll have an opportunity to set this up at the time of account opening. If you’re in a hurry and need your funds instantly, you can always go for Interac e-Transfers.
Fees & Spread
In my case, Shakepay offered me a markdown of 1.14% below BTC’s live market price. Again that’s one of the highest markdowns of all the exchanges I’ve tested so far. But remember, there are no additional trading or transaction fees added on. In my case, I noticed that Shakepay charged one of the highest markups above BTC’s live market price. However, there were no additional trading or transaction fees.
Because of that, the total cost of my trade on Shakepay was just 1.14%. That’s still more expensive than the same trade on NDAX, but it’s significantly cheaper than Coinbase and Kraken, which cost me 9.22% and 2.56% respectively. Recurring buys and limit orders are also only available in the mobile app. Recurring buys will automatically buy currency at a frequency pre-selected by you. You can set limit orders to both buy or sell Bitcoin or Ethereum. You can set it up to buy on dips and sell when it reaches your chosen limit.
This independent audit confirmed that Shakepay had enough funds in reserve to cover the assets of its customers if they were lost.Regulation. The exchange is regulated by Canadian regulatory bodies.Asset storage. Nearly all of the digital money managed by Shakepay is held in cold storage (offline).
