Shakepay Referral Code For Canadians

I keep the promo code pages on this site honest. If a platform stops publishing a bonus, I say so instead of leaving an old number up. For Shakepay the offer is live on its referral page, which is why this page quotes it. For the other platforms, see my overview of crypto exchange bonus links for Canadians.

How Do I Get The Shakepay Referral Bonus?

1. Open the sign-up through my link. Use the OCryptoCanada Shakepay link on your phone or desktop, then download the app.
2. Create the account and verify your identity. Shakepay is a regulated dealer, so it asks for government ID like any registered Canadian platform.
3. Check the referral screen. Inside the app, the referral section shows whether the offer is attached to your account. If it is not, add the referral through the in-app option before you buy anything.
4. Add $100 or more by Interac e-Transfer. Deposits are free and usually land within minutes.
5. Buy $100 of Bitcoin, Ethereum or USDC within 30 days. That purchase is what triggers the $20 on both sides.

I do not publish a made-up code string, because I cannot verify one. The link above is the referral. If the sign-up screen asks for a code, use the one in the referral section of the app and compare it with the offer text Shakepay shows.

Is Shakepay Legal In Canada?

Yes. Shakepay Inc. was admitted to CIRO as an Investment Dealer Member effective January 8, 2025, and the Canadian Securities Administrators list it as an authorized crypto asset trading platform. Its affiliated company Shakepay Financial Inc. is also on the FINTRAC money services business registry. Compare that with offshore exchanges that Canadians still use: Shakepay is on the safe side of the line, and that is the main reason it earns a place on my list of the best crypto exchanges in Canada.

Who Is Shakepay Owned By?

Shakepay's legal pages describe Shakepay Inc. as a Canadian federal corporation headquartered in Montreal. The Shakepay Visa prepaid card is issued by Peoples Trust Company under licence from Visa. I could not find an official page naming the shareholders, so I will not guess at owners. If you want to see who runs a platform, the regulator pages are the right place: the CSA list and CIRO's firm profile for Shakepay Inc. both show the legal entity and its head office.

What Are The Risks Of Using Shakepay?

The platform is regulated, but regulated does not mean risk-free. Four things matter.

• Your crypto is not insured. Shakepay says USD funds are protected up to $1 million by CIPF because it is an investment dealer. CIPF does not cover crypto assets. Move long-term coins to a wallet you control.
• The spread is the real fee. Shakepay is commission-free, but the price you get is between 0.5% and 2.0% away from its benchmark price, and in adverse conditions Shakepay may widen it by up to another 1.5%.
• It has had a data incident. Shakepay detected one on December 13, 2023. It said personal and account data of a small number of customers were involved, and that wallets and credentials were not.
• Three coins only. You get Bitcoin, Ethereum and USDC. If you want anything else, you need a second platform.

How Do I Get My Money From Shakepay?

Sell your crypto inside the app, then withdraw Canadian dollars by Interac e-Transfer. Shakepay lists e-Transfer withdrawals as free with a minimum of $5 and a maximum of $10,000. Wire withdrawals are free from $10,000, and some banks charge their own fee for receiving a wire. Bitcoin withdrawals at normal speed (about 12 hours) are free because Shakepay pays the network fee, with a minimum of 0.00005 BTC. For a longer walk-through, read my guide to selling Bitcoin and cashing out in Canada.

How To Get Shakepay Blue?

Shakepay gives every customer a monthly status. Blue is the top tier, and you reach it by exchanging $1,000 or more in a month or by receiving $2,000 or more in direct deposits. Shakepay's help page lists 1.5% bitcoin cashback on card purchases and no foreign exchange fee for Blue, against 1% cashback and a 3% foreign exchange fee on the base status. Status is checked monthly, so you have to keep meeting the target. I go through the card side in my Shakepay card review.

Does Shakepay Report To The CRA?

I could not find an official Shakepay statement saying it files your trades with the Canada Revenue Agency. What the CRA says is simpler: you must report the capital gains or business income from selling, trading or spending crypto, whatever platform you use, and the CRA tells you to keep records for six years. Treat every Shakepay sale as reportable. My page on reporting crypto taxes in Canada explains how.

Which Is Better, Shakepay Or Coinbase?

Coinbase wins for choice. Shakepay wins if Bitcoin and Ethereum are all you want and you like the card. I would not turn down the Shakepay bonus, but I would not pick a platform for $20 either. Read my full Shakepay review and my Coinbase review, then decide. If Coinbase is where you land, sign up here.