Shakepay is a Canadian fintech company that helps people buy, sell and store bitcoin and ether, while also providing payment tools and banking-style services. The service began in 2015 and expanded beyond cryptocurrency trading to include features such as everyday payments, direct deposit, bill payments and peer-to-peer money transfers.

Users can fund accounts with Canadian dollars, trade cryptocurrencies, and withdraw funds or crypto. Shakepay offers a prepaid Visa card, currently virtual, that allows people to spend their Canadian-dollar balance anywhere Visa is accepted, including via Apple Pay or Google Pay.

Shakepay emphasizes ease of use with quick account setup and verification, along with a mobile app that allows deposits, trading, balance management, and money transfers. The company manages regulatory obligations as a registered Money Services Business under Canadian financial regulations and complies with anti-money-laundering and know-your-customer rules.

How Shakepay Makes Money and What Users Should Know

Shakepay does not charge fixed commissions for trades, deposits, or withdrawals. Instead, costs for buying or selling cryptocurrency are embedded in the price through a spread over market rates. This means that when users buy crypto, the price includes a markup, and when they sell, returns reflect the difference from benchmark prices, which covers operating costs including compliance, payment infrastructure and service upkeep.

While this spread can make frequent trades more expensive over time, people who buy and hold crypto or use built-in payment tools may find the cost reasonable compared with the convenience of a unified platform. Shakepay stores most digital assets offline in cold storage and uses security protocols to protect personal and financial data.

Daily Money Management with Crypto and Fiat

Shakepay has added features that allow users to manage their money much like with a modern banking service. Customers can receive direct deposits into Shakepay accounts, pay bills, or send money to friends using e-Transfer.

The Visa-prepaid card allows spending from Canadian dollar balances at online or physical merchants or via mobile payment systems. For users interested in crypto, Shakepay offers an accessible way to buy and hold bitcoin and ether while converting easily between fiat and digital currencies. The app allows management of both types of assets in one account.

Why Shakepay Has Grown So Quickly in Canada

Shakepay’s focus on simplicity distinguishes it from other platforms. The mobile app remains intuitive and avoids overwhelming features, which appeals to newcomers to cryptocurrency or digital finance.

Regulatory compliance reassures users about legitimacy. Registered as a Money Services Business with oversight from FINTRAC and provincial securities regulators, Shakepay meets Canadian legal standards, helping users feel secure about using the platform.

The combination of crypto trading and everyday payment features allows users to hold Canadian dollars, buy crypto, receive deposits, spend with the Visa card, or send e-Transfers from one account. Crypto rewards and referral programs provide additional incentives, offering exposure to digital assets while engaging in everyday spending.

Shakepay has over one million registered users, reflecting adoption by Canadians who value a hybrid service that merges fiat payments with cryptocurrency access.

What to Keep in Mind When Using Shakepay

The spread model for crypto trading means frequent trading may lead to higher costs, while buy-and-hold users avoid some of these expenses. Although digital assets are stored mostly in cold storage, regular crypto custody risks remain, so users may choose additional self-custody methods.

The prepaid Visa card is virtual and may have transaction limits, and ATM withdrawals are not supported. Shakepay services are available to Canadians only, and users must meet identity verification and regulatory requirements before account access or crypto transactions.

Shakepay demonstrates how a fintech can merge cryptocurrency access with everyday payment tools, offering Canadians flexibility, convenience, and a regulated entry point into digital assets. The platform combines crypto trading, payment features, direct deposits, prepaid card spending, and fiat-to-crypto conversion in one app, catering to users who want financial services designed for modern lifestyles.

For Canadians new to crypto, Shakepay provides a regulated, simple way to explore digital currencies while maintaining access to traditional money management tools. For more experienced users, it creates a bridge between crypto and conventional spending. By integrating cryptocurrency and digital banking under regulatory oversight, Shakepay offers a unified platform for savings, payments, and financial management.

Jean Amiouny, CEO, Shakepay