Shakepay review
Shakepay is the Canadian app for people who want to buy bitcoin and stop thinking about it. It lists three assets, not three hundred, and that focus is the point.
Founded in Montreal in 2015, Shakepay Inc. registered as an Investment Dealer and CIRO member in January 2025, the same top tier Bitbuy holds and above the Restricted Dealer registration most crypto platforms serving Canada carry. It is also on the AMF register, which is unsurprising for a Quebec company but still the check that matters for Quebec residents.
The cost model is the thing to understand. Shakepay advertises no trading commission, and that is technically true, but it prices through a spread of roughly 1.5 to 2 percent built into the quote. That is materially more than the 0.10 to 0.20 percent an order book charges, and it is not shown as a line item. For small recurring purchases the convenience may be worth it. For larger amounts it is an expensive way to buy.
Interac e-Transfer deposits are free and CAD withdrawals return the same way. Bitcoin withdrawals to your own wallet are supported, which is the thing to do with anything you intend to hold.
- Founded
- 2015
- Headquarters
- Montreal, Quebec, Canada
- Fees
- No visible commission, but a spread of roughly 1.5 to 2 percent is built into the quoted price. Interac e-Transfer deposits and CAD withdrawals are free.
- KYC
- Required
- Payment methods
- Interac e-Transfer, Wire transfer
- Status
- Operating
How you can pay on Shakepay
Every deposit rail Shakepay supports in at least one market.
- Domestic bank rail
- Interac e-Transfer
- International wire
- Wire transfer
As published by Shakepay: Interac e-Transfer, Bank transfer or wire.
Pros and cons
What works
- Registered as an Investment Dealer and CIRO member, the top Canadian tier, and listed on the AMF register
- Free Interac e-Transfer deposits and free CAD withdrawals in both directions
- A three-asset list keeps the app focused on bitcoin instead of pushing altcoin trades
- Canadian-built and Montreal-based, with support in both official languages
What to watch
- The spread of roughly 1.5 to 2 percent is far above order-book pricing and is never shown as a fee
- No order book at all, so there is no cheaper route available inside the app
- Only three assets, which is a limitation if you want anything beyond bitcoin
Fees in detail
- spread note
- There is no separate commission line. The cost is a spread of roughly 1.5 to 2 percent inside the quote, well above what an order book charges.
- deposit note
- Interac e-Transfer deposits in Canadian dollars are free.
- withdrawal note
- CAD withdrawals over Interac e-Transfer are free; bitcoin withdrawals to self-custody are supported.
Where we recommend Shakepay
Countries where Shakepay ranks in our local guide. Availability beyond these is possible but unverified by us.
CanadaFrequently asked questions
Does Shakepay really have no fees?
There is no commission line, but there is a spread of roughly 1.5 to 2 percent inside the price you are quoted. It is a real cost, just not an itemised one, and it is several times what an order-book platform charges.
Is Shakepay safe to use?
It is registered as an Investment Dealer with CIRO membership, the same tier as a conventional Canadian brokerage, and appears on the AMF register. That is meaningful oversight. It is still a custodian, so withdraw long-term holdings to your own wallet.
Why does Shakepay list so few coins?
By design. It offers bitcoin, ether and USDC rather than a long altcoin menu. If you came to buy bitcoin, that focus is a feature rather than a gap.
How do I fund a Shakepay account?
Interac e-Transfer, which is free and usually clears quickly. CAD withdrawals go back out the same way at no cost.