Shakepay alternatives - Compared against other exchanges

Comparing of 9 Shakepay alternatives

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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

Fee discounts kick in when you trade more — helpful if you’re regularly moving large amounts.
No charge to deposit crypto or CAD, and withdrawing CAD through Interac is also free.
Most digital assets are kept offline in cold storage with regular security audits.
The Pro platform supports advanced order types, charts, and real-time execution — ideal if you’re looking to step up your trading

Cons

Express trades can be costly, especially if you’re just making small or occasional transactions.
Crypto withdrawals (especially ETH or ERC-20 tokens) can get expensive.
Coin selection is relatively limited compared to global platforms.

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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

You can fund your account with CAD through Interac, bank transfer, or wire — no need to convert currencies.
Offers a clean, intuitive interface that’s friendly to both beginners and experienced traders.
Supports a solid list of popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, and more.
Cold storage is used to keep the majority of client funds secure offline.
Registered with FINTRAC and held to Canadian AML standards, giving it strong credibility locally.

Cons

The flat 0.20% trading fee is competitive but not the lowest in the market.
No staking or interest-earning options, which could matter to users looking for passive income.
Its mobile app works well for basic tasks, but lacks some of the more advanced charting tools on desktop.

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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

The interface is clean, simple, and ideal for beginners—one of the easiest ways for Canadians to get started with crypto.
Strong focus on security, with 2FA, cold storage, and insurance on custodial assets.
You can earn small amounts of crypto through educational mini-courses via Coinbase Earn.
Supports Apple Pay and Google Pay, making fiat-to-crypto purchases more convenient

Cons

Trading fees are high compared to other platforms—best for small, infrequent buys.
No advanced features like futures or margin trading.
Limited customer support options, and response times can be slow during peak periods.

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Not available for application via this 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

Designed for Canadian users with full FINTRAC and OSC registration, offering regulatory peace of mind.
Two platform views: Simple Trade for beginners and Pro Trade for experienced traders.
Transparent fee structure with no spread markups on the Pro Trade platform.
Offers institutional-level OTC services with personalised support for large-volume trades.
Mobile app is responsive, intuitive, and includes real-time portfolio tracking.
Strong security protocols in place, including multi-factor authentication and insurance-backed custody

Cons

Instant Buy/Sell comes with a higher fee of 1.5% but is ideal if you want speed and simplicity over lower-cost execution.
Smaller coin selection than global exchanges.
No passive income features like staking or yield farming.

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Not available for application via this website

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

Strong focus on low-cost trading.
Intuitive mobile and web platforms designed for speed and simplicity, even for first-time traders.
Real-time price tracking, limit orders, and auto-withdrawals support hands-off portfolio management.
Offers carbon-neutral trading by offsetting the environmental impact of crypto transactions.
Crypto assets are stored with institutional-grade custody provider Balance.

Cons

Limited advanced trading tools may not suit users seeking margin or derivative trading.
The selection of coins is smaller compared to global exchanges.
Customer support is responsive but currently limited to email and chat.

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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

Great for building a diversified or DeFi-focused portfolio.
Advanced traders benefit from maker/taker pricing that becomes competitive as volumes grow.
Security is top-tier.
You can stake coins directly through Kraken with flexible terms.

Cons

Interac e‑Transfer deposits carry a 0.5% fee, and withdrawals have a $10 charge, higher than some Canadian peers.
Instant buy fees are steep.
Deposit and withdrawal processes can be confusing and slow, with some users seeing delays of up to several days.
No native Canadian tax-reporting tools on the platform.

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Not available for application via this website

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 and funding make it easy to start trading within minutes.
Transparent fee structure with no surprises on deposits or withdrawals.
Offers both hot and cold wallet storage, with most client assets kept offline for added protection.
Earn interest on select crypto holdings through Netcoins Earn, with competitive rates.
Strong focus on regulatory compliance and security, including 2FA and regular audits.

Cons

Smaller crypto selection compared to global platforms.
No advanced charting or trading tools, making it less suitable for active or technical traders.
Interest-earning feature is only available on a limited number of supported coins.

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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

One of the fastest ways to buy crypto directly with Canadian cards.
Ideal for beginners who want quick, one-time purchases without dealing with order books or complex trading tools.
No account lock-ins or custodial risk—you're in charge of your assets from the start.
Offers 24/7 customer support, which isn’t common among global exchanges

Cons

Limited coin selection.
Higher fees than platforms that offer CAD funding or more trading options.
No selling option for Canadian users — it's a buy-only platform here. You’ll need another exchange to convert crypto back to fiat.

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Not available for application via this website

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

Ideal for new investors.
Real-time price tracking and instant trades are available with no minimum balance.
Automatically tracks gains and losses for tax time with integrated reports.
Responsive local support and a growing knowledge base tailored to Canadian crypto laws and concerns.
Registered with FINTRAC and CIPF-backed, providing added regulatory comfort for Canadian users.

Cons

Charges a spread of up to 2% per transaction, which is higher than some global platforms.
Crypto withdrawals to external wallets are limited.
No advanced charting tools or trading features for technical users.