Is Shakepay safe? Our 2026 review

Shakepay homepage, cropped to logo and menu

#5

✓ Registered in Canada#5 of 12 registered platforms we've scored

8.1Strong · out of 10

What this proves: Shakepay's fee page lists no fee for Interac e-Transfer funding, from $5 to $10,000, with funds available in minutes.

1 more screenshot of its own pages in the review below

Shakepay is one of the most heavily regulated crypto apps in Canada: a CIRO member registered as an investment dealer in every province. It's simple and costs nothing to fund, but it only offers Bitcoin, Ethereum and USDC, and it doesn't publish its spread.

Registered as

Investment dealer, CIRO member

Assets

BTC, ETH and USDC

Interac deposit

No fee, $5 to $10,000

Trading cost

Spread, not published

Custody

Cold storage partner, insured

Good

• CIRO member and investment dealer in every province and territory
• No-fee Interac e-Transfer deposits and withdrawals
• Recurring buys with no fees or spread
• Crypto in cold storage is covered by an insurance policy

Watch out

• Only Bitcoin, Ethereum and USDC
• Makes money from a spread it doesn't publish
• Fast crypto withdrawals cost extra

Visit Shakepay Compare registered platforms

Opens the official Shakepay site · Crypto is high risk and prices can fall to zero

Shakepay is a Canadian app for buying Bitcoin and Ethereum. It’s one of the simplest ways in, and on the regulatory side it’s among the most tightly supervised platforms in the country.

Is Shakepay registered in Canada?

Yes. Shakepay’s website says it “is a member of the Canadian Investment Regulatory Organization (CIRO) and is registered as an Investment Dealer with the Autorité des Marchés Financiers (AMF) and the securities regulatory authorities in all Canadian provinces and territories.” The regulators’ register lists Shakepay Inc. as an investment dealer, with its latest decision dated 8 January 2025.

Investment dealer status is the higher of the two types of registration for crypto platforms in Canada. It puts Shakepay under the same national rulebook as firms that sell stocks and funds. You can compare it with the other platforms on our registered list.

How Shakepay holds your crypto

Shakepay’s security page says it works with “a cold storage provider regulated under the NYDFS”, New York’s financial regulator, which holds SOC 1 Type II and SOC 2 Type II certifications. It doesn’t name the provider. It also says it holds an insurance policy on crypto in cold storage that “covers most damages, theft, and loss of private keys.”

Shakepay says US dollar balances are protected up to $1 million by CIPF. That applies to cash, not crypto. Crypto held on any Canadian platform generally isn’t covered by CIPF.

What it costs to buy crypto

Shakepay makes its money from a spread, the gap between its price and the market price, and it doesn’t publish the size of that spread. Recurring buys are the exception: Shakepay says they have “zero fees or spread.”

Deposits and withdrawals

Shakepay’s fee page lists no fee for any funding method, in or out.

Moving crypto to your own wallet

Sending crypto to an outside wallet carries no fee at normal speed, which takes around 12 hours. Faster withdrawals, in about 10 minutes, cost a fee.

If you send Shakepay a token it doesn’t support on the Ethereum network, it can convert it automatically for a fee of 1.5% into Bitcoin, or 2% into anything else.

Coins and tools

Shakepay supports Bitcoin, Ethereum and USDC. If you want other coins, you’ll need a different platform. It also offers recurring buys, which carry no fee or spread.

The app

On Apple’s Canadian App Store, as of 10 November 2026, Shakepay: Buy Bitcoin Canada is rated 4.6 from 24,466 ratings. It takes up 149 MB and needs iOS 16.4 or later. Our crypto apps comparison puts it next to every other registered platform’s app.

How to sign up

The Shakepay pages we checked don’t set out its sign-up steps, so we haven’t listed any. As a registered platform, Shakepay has to verify your identity under Canada’s anti-money-laundering rules. It’s registered with FINTRAC, the agency that enforces them.

Platforms like Shakepay

Wealthsimple lists more than 170 coins and publishes its fee, 0.5% per trade, though market orders add a spread too. Read the Wealthsimple Crypto review

NDAX charges a flat 0.20% with no spread, so you know the cost of every trade, but Interac withdrawals cost $1.50. Read the NDAX review

Newton builds a stated fee of 1.00% to 1.60% into its prices, lists 50+ assets and has a no-fee lane for crypto withdrawals. Read the Newton review

Verdict

Shakepay is an investment dealer and CIRO member, with no fee on Interac deposits or withdrawals from $5 to $10,000. Its weak points are the narrow choice of three assets and a spread it doesn’t publish. Recurring buys avoid that spread.

Frequently asked questions

Is Shakepay legit?

Yes. Shakepay is registered with Canada’s securities regulators as an investment dealer and is a member of CIRO. It’s also registered with FINTRAC, Canada’s anti-money-laundering agency.

Is my crypto insured on Shakepay?

Shakepay says its insurance policy covers crypto in cold storage against most damage, theft and loss of private keys. That’s a private policy, not a government scheme. Your crypto isn’t covered by CIPF, and the price of crypto can still fall.

How much does Shakepay charge?

Funding and Interac withdrawals carry no fee. Trades include a spread that Shakepay doesn’t publish, so compare the price you’re shown with the market price before you buy. Our comparison of registered exchanges shows how other platforms price their trades.

Sources

Checked 6 November 2026. App Store figures checked 10 November 2026.

• Shakepay, homepage and regulatory notice
• Shakepay, fees
• Shakepay, security
• Shakepay, Bitcoin and crypto pages
• Shakepay Help, unsupported coins and networks
• New Brunswick Financial and Consumer Services Commission, registered crypto asset trading platforms