The simplest way to buy Bitcoin in Canada — Shakepay review covering fees, ShakingSats, security, and who it's best suited for.
KOHO is the smart choice for your CAD spending while you invest in crypto. No monthly fees, instant e-transfers, earn cash back on everyday purchases.
Get KOHO Free — Code 45ET55JSYA| Feature | Details |
|---|---|
| Founded | 2015 — Montreal, Quebec |
| FINTRAC Registered | Yes (MSB) |
| Coins Available | Bitcoin (BTC) and Ethereum (ETH) |
| Trading Fee | Spread-based (~1.5% on BTC/ETH) |
| Deposit Methods | Interac e-Transfer, bank wire |
| ShakingSats | Earn free BTC by shaking your phone daily |
| Shakepay Card | Visa card with BTC cashback (waitlist) |
| Mobile App | iOS and Android |
Shakepay's signature feature is ShakingSats. By shaking your phone once per day in the app, you earn a small amount of free Bitcoin. The amount starts very small but increases the more consecutive days you shake — the streak bonus grows your daily reward. Long-time users with multi-year streaks can earn meaningful sats daily.
While the amounts are small, ShakingSats is a fun and easy introduction to Bitcoin for new users. Note: ShakingSats rewards are taxable in Canada — they are income at FMV on receipt, just like any other crypto reward.
Shakepay charges no explicit commission. Like Newton, it earns revenue through the bid-ask spread. For Bitcoin and Ethereum, this spread is approximately 1.5% — slightly higher than Newton's ~0.5% on BTC/ETH. For most casual buyers, the difference is small in dollar terms on small purchases.
There are no deposit fees via Interac e-Transfer. Crypto withdrawals to external wallets are free (standard network fees apply). CAD withdrawals back to your bank are free but may take 1-3 business days.
On a $1,000 BTC purchase: Shakepay's spread of ~1.5% means you effectively pay ~$15 more than the market price. Newton on the same trade would cost ~$5. For small, infrequent purchases, this difference is negligible. For frequent large purchases, consider a platform with lower fees.
Shakepay is the ideal choice for:
If you want altcoins, lower fees on large trades, or advanced trading features, consider Newton or Bitbuy instead.
Shakepay stores 95%+ of customer crypto in cold storage. As a FINTRAC-registered MSB, it meets Canadian anti-money laundering and know-your-customer requirements. The app supports 2FA via authenticator apps. Bitcoin can be withdrawn to your own hardware wallet, which is always the safest long-term storage option. See our cold wallet guide.