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Shakepay vs. Crypto.com

To find the best platforms, we tested over 50 apps with Canadian accounts. Read our reviews to find the best crypto exchanges in the country in 2022.

Updated September 2022   |  Affiliate Disclosure

Canada has many cryptocurrency exchanges. In this review, we're taking a deep look at Shakepay vs Crypto.com so you can compare fees, features, funding methods and more. We did a deep dive so you can find out which platform is better for you.

The Bottom Line: Shakepay had a 1.03% total purchase fee versus 1.68% on Crypto.com. Shakepay is cheaper overall and better for beginners but Crypto.com has 200+ coins and more features.

Summary:

  • Shakepay is cheaper. It had a 1.03% total purchase fee and Crypto.com was 1.68%
  • Crypto.com has 200+ coins versus 2 on Shakepay and many more features
  • Shakepay is easier for beginners. The Crypto.com layout is confusing
Shakepay

About Shakepay

Shakpay is the best beginner crypto exchange in Canada. It's very easy to use, they offer 2 coins (BTC and ETH), a Bitcoin Visa card, free deposit and withdrawals and fair spreads.

Pros & Cons

  • Best platform for beginners. No experience required
  • Free crypto withdrawals and free CAD deposits and withdrawals
  • Free Bitcoin Visa card gives you 1%-2% cash back on all purchases
  • Earn free Bitcoin daily with ShakingSats (shake your phone for free Bitcoin) 
  • Fast verification (get instantly verified in under 10 minutes)
  • Only has 2 coins (BTC and ETH)
  • No advanced features (it's built for beginners only)
  • Less features than Crypto.com
Crypto.com

About Crypto.com

Crypto.com offer 200+ coins and lots of features for Canadians to explore. It's best used for their cash back Visa cards and earning rewards on 50+ coins.

Pros & Cons

  • Offers multiple crypto credit cards with up to 5% cash back
  • Great rewards - Earn 0.50%-12.50% p.a. on 50+ cryptocurrencies
  • Tons of features like Visa cards, rewards, 200+ coins and more
  • Expensive for trading and high spreads (3.11% spread when tested which was 16th place)
  • User interface can be very confusing

Overview

How We Tested

To collect this info, we used real, KYC-verified accounts. We then broke it down into 5 categories: Fees, Features, Deposit & Withdrawals, Security and Ease of Use.

RankFi tracks dozens of crypto products. Lean more about our methodology here.

Coins Offered

2 (BTC and ETH)

200+

Total BTC Purchase Fee

1.03%

1.68%

Total BTC Selling Fee

1.21%

1.41%

CAD Trading Pairs?

CAD Deposit Fees

Free

Free

Interac e-Transfer?

Beginner Friendly

🚫

Advanced Trading

🚫

BTC Withdrawal Fee

0 BTC (Free)

0.0004 BTC

Headquarters

Montreal, Canada

Singapore

💰 Promotion

$30 free when you trade $100

$25 free when you stake for a Ruby Visa card or higher

Sign Up

Features

Best Features Overall

Cell

✅ Winner

Number of Features

5-10

20+

Coins

2 (BTC and ETH)

200+

Mobile App

Web App

✅ (Pro Exchange only)

Beginner Trading

🚫

Advanced Trading

🚫

Staking

🚫

Lending/Borrowing

🚫

🚫 (Restricted in Canada)

Other Rewards

Crypto Credit Card

✅ (Review)

5 Cards

Margin Trading

🚫

🚫 (Restricted in Canada)

Futures

🚫

🚫 (Restricted in Canada)

OTC

Native Token

🚫

Affiliate Program

24/7 Support

🚫

Sign Up

Fees & Spread

More Information

Both platforms were tested on Mar 2, 2022 at the same time and numbers are subject to change.

  • Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Buy Reference Price Difference
  • Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Sell Reference Price Difference

Best Fees Overall

✅ Winner

Cell

*Total BTC Purchase Fee

1.03%

1.68%

*Total BTC Selling Fee

1.21%

1.41%

CAD Deposit Fee

Free

Free

CAD Withdrawal Fee

Free

Free

Trading Fee

Free

0% in App

0.40% on Exchange

Spread (BTC)

2.26%

3.11%

Ref. Price Difference

Buy: +1.03%

Sell: -1.21%

Buy: +1.68%

Sell: -1.41%

BTC Buy Price

$56,351

$56,710

BTC Sell Price

$55,108

$55,000

Reference Price (Google)

$55,774

$55,774

Sign Up

Deposits & Withdrawals

Best Overall

✅ Winner

Cell

$CAD Funding Options

E-Transfer

Free

Instant


Wire Transfer

Free

1-2 days


Shakepay A Friend

Free

Instant

E-Transfer

Free

0-2 days


Credit Card

3.50%

Instant

$CAD Withdrawal Options

E-Transfer

Free

Instant


Wire Transfer

Free

1-2 days


Shakepay A Friend

Free

Instant

E-Transfer

Free

0-2 days

BTC Withdrawal Fee

0 BTC (Free)

0.0004 BTC

ETH Withdrawal Fee

0 ETH (Free)

0.005 ETH

Security

Best Security Overall

Cell

✅ Winner

Year Founded

2015

2016

Uses Cold Storage?

FINTRAC Regulated

Insurance Policy

✅ (Coinbase's)

✅ ($750m)

Any Hacks or Incidents?

🚫

✅ (2022)

2FA

Address Whitelisting

🚫

View Login History

🚫

Crypto Withdrawals Allowed

KYC

✅ (Mandatory)

Publicly Traded

🚫

🚫

Headquarters

Montreal, Canada

Singapore

User Interface

Shakepay

Shakepay App Home
Shakepay App Charts
Shakepay Trading Page

Crypto.com

Crypto.com App Accounts Page
Crypto.com App Charts Page
Crypto.com App  Coins List

Shakepay or Crypto.com?

Shakepay is better for beginners and cheaper than Crypto.com. The total BTC purchase fee on Shakepay was 1.03% versus 1.68% on Crypto.com. If you want the best rewards and features, Crypto.com has 200+ altcoins and 20+ features versus 2 coins on Shakepay and 5-10 features.

When To Use Shakepay

  • If you want an easy platform for beginners
  • If you only want to trade Bitcoin or ETH
  • If you want a 1% cash back Bitcoin visa
  • If you want lower spreads than Crypto.com

When To Use Crypto.com

  • If you want 200+ altcoins
  • If you want a 1%-5% cash back Visa paid in CRO
  • If you want to stake/earn on 50+ cryptocurrencies
  • If you want more features and services overall

Sign Up:

Shakepay

Get $30 free when you trade $100

Crypto.com

Get $25 free when you stake $500 CRO for a Ruby card or higher

🔎 Compare More Crypto Exchanges

Check out the best (and worst) places to buy, sell, trade crypto in Canada

RankFinance

Alex Dabek

RankFi.com (Contributor)

Alex is the owner of RankFi.com, where he covers all things Web3 and cryptocurrency. He's been passionate about blockchain technology since 2017 and has reviewed more than 100 crypto exchanges, brokers, and DeFi applications.


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