Our Disclosure

The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you. This may impact which products or services we write about and where and how they appear on the site. It does not affect the objectivity of our evaluations or reviews. Read our disclosure.

Top Shakepay Alternatives in 2023: Free $50 BTC Offer


Fact Checked

Shakepay is a legit Canadian cryptocurrency trading site and app that has been around since 2015.

It has its own crypto card and more than 900,000 clients.

While this platform is well-rated, it only supports bitcoin and Ethereum, which means a Shakepay alternative is needed to buy other coins

This review covers the best Shakepay alternatives in Canada, including their top features, pros, cons, and fees. You also learn how to get a $50 BTC bonus from CoinSmart.

Best Shakepay Alternatives in Canada

The following Shakepay competitors give you access to various digital assets.

Some are crypto brokerages which means you are buying directly from the platform, while others are crypto exchanges with streaming price quotes and deep liquidity.

1. CoinSmart

CoinSmart is the top Shakepay alternative for Canadians who want access to multiple coins, fiat currency, and advanced trading features.

It is a publicly-traded company on the NEO Exchange and operates in Canada and Europe.

You can open a CoinSmart account within minutes and easily fund your account using Interac e-Transfer, bank wire, debit or credit cards, and SEPA.

The trading fee on this platform is one of the lowest in Canada, at 0.20%. Some deposits are free, and crypto withdrawal fees vary per coin.

CoinSmart stores your digital assets in cold storage.

You can get a $50 bonus here when you deposit $200 in your new account.

CoinSmart Crypto Exchange

coinsmart logo

Top crypto exchange in Canada

Great for new & advanced traders

0.20% trading fee

Get a $50 bonus when you deposit $200

2. Wealthsimple Crypto

If you want to trade stocks and crypto, Wealthsimple Crypto and its corresponding Trade app may be for you.

This platform supports 50+ coins, and you can deposit fiat using electronic funds to transfer. You can also deposit and transfer out crypto assets.

Wealthsimple Crypto is one of the best crypto apps in Canada.

While there are no fees for deposits and withdrawals (fiat), you pay a trading fee from 1.50% to 2%.

New clients get a cash bonus after depositing $200 or more within 30 days of account opening.

Learn more in this review.

3. Newton

The Newton crypto brokerage supports several coins and is a great Shakepay alternative if you want to buy and sell altcoins.

Available on iOS, Android, and via a web interface, Newton is a great crypto trading platform for beginners.

There are no fees to deposit and withdraw fiat; however, trading fees are up to 2.20%.

Newton uses institutional-grade storage for your coins, and you can also transfer your assets to a hardware wallet.

Learn more in this review and get a $25 bonus when you trade $100 or more.

4. Bitbuy

Bitbuy is one of the largest crypto exchanges in Canada and a great alternative to Shakepay.

Using Bitbuy, you can buy and sell 20+ coins and fund your account using Interac e-Transfer, bank wire, or crypto deposits.

Bitbuy Pro offers a live order book, and large traders can take advantage of the OTC desk for better pricing.

Trading fees on Bitbuy are up to 1.50%, and fiat withdrawals and deposits cost up to 1.50%.

New clients get a $20 bonus after making an initial deposit of $250 or more. Learn more in this review.

5. Coinberry

Like Shakepay, Coinberry is not a crypto exchange but a broker.

It is registered with the Ontario Securities Commission (OSC) and the Financial Transactions and Reports Analysis Centre of Canada.

Coinberry supports 29 coins, including less popular tokens like Maker, The Sandbox, Synthetix, ZCash, Enjin Coin, Fantom, and The Graph.

You don’t pay a fee when you deposit or withdraw Canadian dollars. If you buy or sell crypto, the trading fee (price spread) is up to 2.50%.

Top Shakepay Alternatives

What To Look For in a Shakepay Alternative

The best crypto exchanges in Canada offer competitive trading fees or tight spreads, multiple coins, good security, and they are registered with the Canadian government.

You should also watch out for:

  • Good customer support – preferably 24/7
  • Cold storage of a majority of coins
  • Mobile apps
  • Reputation

Pros of Shakepay Canada

The benefits you get when using Shakepay include:

  • Easy way to buy Bitcoin and Ethereum
  • Instant account verification
  • Regulated platform
  • Move assets in and out easily
  • Free cash deposits and withdrawals
  • $5 welcome bonus

Cons of Shakepay Canada

While this is a top trading platform, it has some downsides:

  • Only supports bitcoin and Ethereum trading
  • High in-built trading fees of up to 3%
  • Sign up bonus requires crypto trades worth at least $100

Shakepay Alternatives: Conclusion

If you only plan on trading BTC and ETH, Shakepay works well, and you get a $5 cash bonus after trading $100 or more.

For a Shakepay alternative that offers several coins and has advanced trading tools and features, my top choice is CoinSmart.

Shakepay Alternative FAQs

What can I use instead of Shakepay?

Crypto exchanges like CoinSmart, Bitbuy, or NDAX can be used in place of Shakepay.

Can I send bitcoin through Shakepay?

Can I send bitcoin through Shakepay? Yes, you can send bitcoin and Ethereum through Shakepay to other exchanges or your personal cold wallet.

Is Shakepay the best in Canada?

Shakepay is definitely one of the top crypto trading apps in Canada and one of only a few with its own crypto credit card.

Does Shakepay give you free bitcoin?

Does Shakepay give you free bitcoin? Yes, you can earn free bitcoin on Shakepay by shaking your phone while the app is open.

Related: Coinberry vs. Shakepay.

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Top registered and regulated crypto trading platform for Canadians.

$50 instant reward when your initial deposit is at least $250 or more.

Access over 40 popular coins and altcoins and staking to earn interest.

Competitive low trading fees for crypto and free deposits.

Get access to advanced trading tools.

Access nearly 70 crypto assets with one-click trading + $25 bonus

Instant deposit with e-Transfer and supports CAD and USD.

$25 bonus when you verify your account and deposit $150.

Offers almost 70 crypto assets.

0.50% to 2% trading fees; free fiat deposits and withdrawals.


Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

Free financial education

Expert advice

Free resources

Detailed guides

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.