Shakepay alternatives

Compare the best alternatives to Shakepay alternatives for Canadian crypto traders.

By   |   Updated 22 Nov 2022

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Comparing Shakepay alternatives

Bitbuy

On website

Featured

Bitbuy

Highlights

  • Bitbuy has more tradable coins than what’s available on Shakepay.
  • Trades on Shakepay will incur a spread fee, but there are no fees for deposits or withdrawals.
  • Both exchanges are regulated by FINTRAC and use offline cold storage facilities.

Pros

  • You can earn a signup bonus.
  • Competitive trading fees.
  • Assets are insured and held in cold storage.
  • User-friendly website and mobile app.

Cons

  • Deposit and withdrawal fees apply.
CoinSmart

On website

CoinSmart

Highlights

  • CoinSmart offers a better choice of cryptocurrencies compared to Shakepay.
  • Shakepay charges a spread on trades but does not charge fees for deposits or withdrawals.
  • Both exchanges employ cold storage and are FINTRAC-registered. Either is suitable for a new trader.

Pros

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.
Coinberry

On website

Coinberry

Highlights

  • Coinberry is a little cheaper than Shakepay, with a larger range of cryptocurrencies to trade too.
  • CoinSmart and Shakepay are both appropriate for beginners and more advanced traders.
  • Coinberry and Shakepay have not experienced any major security problems. Both store digital assets in offline cold storage wallets.

Pros

  • Easy sign-up process and instant verification.
  • No fees to deposit or withdraw fiat.
  • There is a $200 million crypto asset insurance.
  • Easy to use mobile app.

Cons

  • Limited choice of altcoins.
  • High trading spreads.
NDAX

On website

NDAX

Highlights

  • NDAX and Shakepay are suitable for both beginners and experienced traders.
  • NDAX is substantially cheaper than CoinSmart for active traders.
  • Coinsmart and NDAX both use cold storage facilities. Both are FINTRAC-registered.

Pros

  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.

Cons

  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents
Coinbase

On website

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Coinbase

Highlights

  • Coinbase has a larger selection of tradable currencies than Shakepay.
  • Compared to Shakepay, Coinbase's fee schedule is unclear.
  • Coinbase and Shakepay alike are appropriate for traders of all levels.
  • Both exchanges employ cold storage to safeguard their users' digital assets.

Pros

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.

Cons

  • Fees are higher compared to other exchanges.
Coinsquare

On website

Coinsquare

Highlights

  • Coinsquare's QuickTrade feature instantly makes trades between any two currencies, whether it's XRP to Ethereum, or Litecoin to EUR.
  • Has one of the most secure trading platform.
  • Enjoy low, transparent fees and no trading minimum.

Pros

  • Quick verification process.
  • 820+ trading pairs available.
  • Has a referral program.

Cons

  • A limited selection of cryptocurrencies.
Binance

On website

Binance

Highlights

  • Binance has a much larger selection of cryptocurrencies than what’s available on Shakepay, including several altcoins, NFTs, and DeFi tokens.
  • Binance can be quite complicated for beginner traders.
  • CoinSmart is available throughout Canada, but Binance is not.

Pros

  • It has some of the lowest trading fees out there. 0.1% for spot trading and 0.5% for instant buy or sell fees.
  • Credit card or debit card deposits are accepted.
  • Provides charting and trading tools suitable for advanced crypto traders.

Cons

  • The platform UI can be complicated to learn for new investors.
Newton

Newton

Highlights

  • Newton's selection of tradable cryptocurrencies is superior to Shakepay's.
  • Although Shakepay does not charge a trading fee, each transaction is subject to a spread cost. There are no fees for deposits or withdrawals with Shakepay.
  • Both exchanges use physical cold storage facilities to hold cryptocurrencies safely.

Pros

  • Clean user interface.
  • No commission fees.
  • Competitive spreads.
  • Earn $25 on its referral program.

Cons

  • Only accepts CAD deposits.
  • Verification times can be slow.
Kraken

On website

Kraken

Highlights

  • Kraken's cryptocurrency selection is superior to what’s available on Shakepay.
  • Shakepay’s trading and withdrawal fees are cheaper than those on Kraken.
  • With well-designed trading interfaces, both exchanges are appropriate for beginners.

Pros

  • Large selection of tokens to trade.
  • Earn rewards by staking eligible assets.
  • Access to a range of educational materials.

Cons

  • Limited options to fund your account.
Gemini Exchange

On website

Gemini Exchange

Highlights

  • Gemini Exchange makes it simple to research the crypto market, buy bitcoin and other cryptos, and build a portfolio for the future of money.
  • Set recurring buys and dynamic price alerts.
  • All crypto held online in Gemini's exchange wallet is insured and it uses the best-in-industry cold storage coverage with leading insurance providers.

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.
KuCoin

On website

KuCoin

Highlights

  • Safe and rapid Bitcoin purchase.
  • Multiple order types for all kinds of risk appetite.
  • Sign up and get a welcome gift.

Pros

  • Supports 600+ different coins.
  • Has low maker and taker fees, starting at 0.10%.
  • Opportunity to earn interest in your cryptocurrencies.

Cons

  • A limited choice of payment options is available.
Netcoins

Netcoins

Highlights

  • Create an account and get verified in minutes.
  • Fund your account with $0 fees through a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.
  • With price alerts, it keeps you in the loop on those big moves.

Pros

  • Fast verification process.
  • Free cash deposits and withdrawals
  • Competitive trading fee.
  • Supports CAD and USD funding.

Cons

  • Limited selection of cryptocurrencies.
Coinmama

On website

Coinmama

Highlights

  • Buy bitcoin, ethereum and other popular cryptocurrencies.
  • Buy with a credit card, debit card, Apple Pay or bank transfer.
  • Place your order and get your coins instantly. No deposits required.

Pros

  • Start with as little as $50.
  • Accepts multiple types of payment options.
  • High spending limits.

Cons

  • Fees are higher compared to other providers.
  • Limited cryptocurrency selection.
Wealthsimple Crypto

Wealthsimple Crypto

Highlights

  • Sign up in minutes with $0 minimums.
  • No fees to deposit or withdraw.
  • Coins are held by Gemini Trust Company LLC™, a regulated crypto custodian with $200M in cold storage insurance coverage.

Pros

  • No commission.
  • No fees for transferring funds.
  • Availability of educational resources.
  • Perfect for beginners.

Cons

  • Accepts only 2 fiat currencies.
  • High spreads may apply.