Shakepay is a very popular Canadian cryptocurrency exchange with over 1 million registered users. Their website markets themselves as the easiest way for Canadians to buy and sell Bitcoin.
The company was founded in 2015 and is headquartered in Montreal. Features you will find include Bitcoin and Ethereum trading, recurring purchases, the Shakepay Visa Card, free deposit and withdrawals and more.
What Is The Shakepay Card?
The Shakepay Card is a free Bitcoin rewards card for Canadians that came out in 2022. With it, you will get unlimited 1% cash back on all purchases you make. In 24-48 hours, the Bitcoin is credited into your Shakepay wallet which you can hold, trade, or withdraw whenever you like.
The card is a prepaid visa so it works like a debit card but rewards you like a credit card.
How Does It Work?
To use the Shakepay Card, you first need to deposit Canadian dollars into your account via e-transfer or wire transfer. Once your account is funded, you can start using your card anywhere Apple Pay or Google Pay is accepted. You will earn 1% cash back on all purchases and Bitcoin gets credited into your account about 24 hours later.
If you spend $2500/month, you will get $25 cash back in Bitcoin. That's $300/year back into your pocket just for using a free card.
To get the Shakepay Card, you must have a fully verified Shakepay account. The application process takes about 5 minutes and requires proving your identity.
Who Is Eligible?
- Canadians in all 13 provinces and territories
- *No credit check or minimum income is required
Sign Up Requirements
- Government Issued Photo ID
- Selfie video
- Accept the terms & conditions
1% Unlimited Cash Back
Get 1% cash back with no limits to how much you can earn. On your first $5,000 spent you will earn an additional 1% back.
Shop anywhere in-person or online where Apple Pay or Google Pay is accepted. Currently, there is no date announced for a physical card.
Visa Zero Liability Policy
The Shakepay Card comes with Visa Zero Liability protection which says you're protected against loss, theft, or unauthorized use of the card.
Other Shakepay Features
- Trade Bitcoin & Ethereum
- Recurring Purchases
- Shaking Sats (free BTC for shaking your phone)
- Shakepay A Friend
- See our full Shakepay Review for a detailed breakdown
Shakepay offers free deposit and withdrawals via e-transfer or wire. It's easy to top up your account within minutes or cash out quickly as well. Crypto withdrawals are also free because Shakepay covers the network fees.
Is Shakepay Trustworthy?
Yes, Shakepay is considered a safe platform. They store crypto in cold storage, never had a hack, offer 2FA to secure your account and more. View the full security breakdown here.
Is The Shakepay Card Insured?
According to the Cardholder Agreement, the Shakepay Card has a Visa Zero Liability Policy which protects against loss, theft, or unauthorized use. The website says, "you will not be liable for any unauthorized use of the card." However, the funds in your Shakepay account are not CDIC insured.
Currently, there are 3 cards in Canada that let you earn Bitcoin and 5 that let you earn crypto. The Shakepay Card is the best card in Canada for earning Bitcoin since it offers unlimited 1% cash back, payouts in 24 hour and no annual fees.
Reasons to get the Shakepay Card:
- Best card in Canada if you want to earn Bitcoin
- Fast payouts in around 24 hours
- No annual fees, inactivity fees or deposit/withdrawal fees
Reasons to get something else:
- If you want a physical card, check out the Netcoins Visa or Crypto.com Card
- Higher cash back rewards and perks available. Eg: Crypto.com Cards offers up to 5% cash back
- If you want to build your credit score, find a regular rewards credit card