Hi, so want a Shakepay Review.
I remember when I first got introduced to the phenomenon called Bitcoin. It was back in early 2016 and BTC was between 3 and 4 hundred dollars per coin.
The MLM industry was just starting to use bitcoin as the currency of choice to do what MLM does. I have mixed feelings about MLM and leave that topic for another day.
At that time, Cryptocurrency exchanges were still in the development stages but Bitcoin vending machines were starting to pop-up at various locations all across Canada and the US. If you owned a bitcoin vending terminal, there was money to be made in the form of commissions. It was a good niche.
Things have changed over the years and in this review, I would like to touch upon a service that is available only to Canadians for the purchase and sale of Bitcoin and Ethereum:
The Company is called Shakepay and below you will find my “Shakepay Review.”
- Company Profile
- Scamdoc Analysis
- What is Shakepay
- Shakepay Video – The Easiest Way To Buy Bitcoin In Canada
- So How does Shakepay Make Any Money?
- Summary & Rating
500 Place d’Armes, Suite 1800
Shakepay Inc. is a regulated Entity:
Jean Amiony, CEO
Jean Amiony co-founded Shakepay in 2015 after seeing a need for Canadians to have more control over their wealth.
After exchanging a couple of emails, we were able to do this interview via google meet on September 23, 2020 (Wednesday @12pm). The duration of this interview was 19 minutes and 46 seconds. – Urgen Kuyee
Click Here to view the entire interview.
Roy Breidi, CTO
Roy Breidi is Co-founder & CTO at Shakepay. He and Jean met and studied together at McGill, a public research university in Montreal, Quebec, Canada.
Shakepay started as a side project for the pair working on week-nights and on weekends and their commitment has led to working towards a seamless crossover between the current financial system and the digital asset world.
ScamDoc.com is a web tool that evaluates “digital identities” reliability (email address or website).
It provides answers to questions frequently asked by Internet users:
- How to check if a website is reliable or not?
- How to detect fraudulent emails?
The use of ScamDoc is free and unlimited. As such, this site can be used by anybody who wishes to get some information before making a purchase or during an exchange with an unknown contact.
ScamDoc uses a web service called ScamPredictor: an algorithm developed by HERETIC society (founder of Signal-Arnaques) which uses an artificial intelligence classification system. Just enter an e-mail or a website URL to get a detailed report with a trust score!
ScamDoc Analysis For Shakepay:
- This website is mature (been registered for multiple years) which is a good point for the establishment of credibility.
- HTTPS (SSL) protocol is detected. This means that this site is considered ‘Secure.’
- The scoring and indications provided by ScamDoc are calculated via a complex algorithm. It reflects the trust you can give to the website. Please note that ScamDoc site publishers do not influence the rating of a specific domain or URL.
Shakepay is a Montreal-based FINTRAC compliant buy & sell currency platform designed specifically for users in Canada.
The platform allows Canadian Residents to buy and sell Bitcoin and Ethereum using CAD (Canadian Dollars) directly through using their smartphones or computers with just one click.
Built ideally for mobile, the platform allows users to send and request CAD (Canadian Dollars), BTC (Bitcoin) and ETH (Ethereum) directly on the APP to and from other Shakepay users.
Users can add funds to their wallets via Interac e-Transfers, Wire Transfer and even Debit Card Transfers making the process especially convenient for those just getting started with digital assets.
Funding Fees & Timelines:
Cash In and Cash Out with no fees, instantly. Your funds are always available.
Interac E-Transfer is Free
Wire Transfer is also Free (compare with others that charge $25.00 and more.
Bitcoin and Ethereum transactions are also free.
Free, Free, Free on all outgoing transactions.
Funds are added to Shakepay wallets via Interac E-Transfers, an especially convenient method for those just getting started with digital assets. Users can also cash out their CAD balances to their Canadian bank accounts, with their funds being deposited within 24 hours.
There is no fee to send and receive CAD and BTC to and from other Shakepay users. Additionally, Shakepay does not charge users a fee to transfer CAD to their wallets.
“We’re seeing a huge rate of adoption in the cryptocurrency space and we’re excited to launch the new Shakepay product to the Canadian market, one that is severely underserved,” said Jean Amiouny, Co-Founder and CEO. “Shakepay is the fastest way for Canadians to buy and sell digital currencies directly from their mobile phones.
“We are committed to working towards a seamless crossover between the current financial system and the digital asset world. We are driven to build products that meet the exploding consumer demand in the space” said Roy Breidi, the CTO of Shakepay.
I personally have been involved in the ‘Crypto Active’ markets since 2016 and as a Canadian was very limited when it comes to certain aspects of the market.
Our exchange market was a mess with frauds and bankrupt companies and American exchanges such as Coinbase were filled with a huge amount of fees that were taking away from any return on investments.
Things are beginning to change and for about the past half-year, I had been playing around with different exchanges that arose from the graves of old.
Shakepay is serving us Canadians very very well.
In short, Shakepay is a platform where you can convert CAD (Canadian Dollars) to Cryptocurrency and inverse Cryptocurrency to CAD.
It is easy to use and very user friendly. It allows for the use of E-Transfers, Bank Wire Transfers or trade from other cryptocurrency wallets. There is a minimum transaction size of $1,000.00 CAD on wire transfer deposits.
An electronic deposit via Interac is possible for transactions as small as $5.00 CAD, but daily limits of $1,000.00 CAD (Interac online) and $10,000CAD (Interac E-Transfer) applies.
Because Shakepay is a custodial service, it has to hold its customers’ assets in a mix of hot and cold wallets. All Shakepay says is that “the vast majority” of the assets are in offline cold wallets.
All communication between the apps and Shakepay servers are made through SSL (Secure Socket Layer) connections. The servers themselves use AES-256 to encrypt customer data.
Shakepay Video – The Easiest Way to Buy Bitcoin.
In the Video Interview below, John Vallis from ‘Bitcoin Rapid Fire’ speaks with Jean Amiouny, Co-Founder and CEO of Canadian bitcoin wallet/exchange, Shakepay.
Video Run Time: 1:17:26 (it’s worth it).
“I came across Shakepay, tried it out, and was blown away by how easy and fast it was to fund, buy Bitcoin, and withdraw to cold storage. As a result, I thought it would be fun to speak with Jean to learn about how they do this and discuss the Bitcoin scene here in Canada. Enjoy.” -John Vallis.
With no commissions and no transaction fees, “How does Shakepay make any money?” is a valid question.
Shakepay is a commission-free service. This means that do not charge a commission for buying or selling either of their cryptocurrencies…BTC or ETH. Shakepay also covers transaction fees for moving your CAD or cryptocurrencies off-platform (for an example, moving your BTC from Shakepay to another BTC address).
“This is a pretty awesome perk for our customers! Most platforms will charge you fees or a commission to buy, sell or move out your cryptos. These fees can quickly add up and it’s all on you to pay them. With Shakepay, there is no surprise hidden fees – what you see is what you get. And what you get is more cryptos in your pocket.” – Jean Amiouny CEO & Co-Founder of Shakepay.
It is important to understand that Shakepay is not a marketplace where customers buy and sell with other customers. They are more like a local retail store that buys and sells goods. They offer digital currencies (BTC or ETH) for sale directly to their customers. When a customer buys Bitcoin for example through Shakepay, they are selling them the Bitcoin themselves. Similarly, when a customer sells their Bitcoin, Shakepay buys the Bitcoin directly from the customer.
“To make money, we set the price you can buy or sell digital currencies on Shakepay. At any point in time, there will be a small difference between the price customers can buy crypto and the price at which they can sell” says Jean. (See illustration below:
Shakepay will capture this difference as revenue to cover their costs as a business, maintain their platform, and offer great continued service to its customers.
Not only does Shakepay not have any fees associated with what they offer, but they also offer a unique referral program to those Canadians that share their platform with another fellow Canadian.
If you Refer a friend or family member using your referral code that wants to buy some Bitcoin or Ethereum (minimum $100.00 CAD worth) then both of you will receive $10.00 CAD deposited into your wallets. How cool is that?
Note: Shakepay offers a bonus during the Christmas Holiday season where they increase the referral reward to $30.00 CAD for both parties in a limited time offer.
Account set-up is easy and fast.
Click on the banner below to set-up your account and receive your $10.00 CADS gift for getting started.
Once you click on the “Getting Started” button above, you will see the following screen below:
Next, you will click on the “Get Started” button in the upper right corner of the screen and you will come to a sign-up page where you will create a Username (@shaketag) and enter a valid email and create a password. Really easy peasy. (see below).
Once you are signed up, fund your account through your bank and purchase a minimum of $100.00 CAD of Bitcoin or Ethereum to receive your $10.00 CAD referral bonus. This happens quite quickly and you can have your Bitcoin or Ethereum in a matter of minutes.
[Full Disclosure: If you use the link provided in this review, I will receive a $10.00 CAD referral fee from Shakepay].
I give Shakepay a very confident Thumbs Up.
I like that it has been founded by a couple of Canadians for Canadians. I love to learn about stories where a couple of guys met while attending the same university and decided to work hard, and develop a product or service that fulfils a real need.
Founded in 2015, I think that Shakepay will serve us Canadians very well into the future.
Get started Now!
If you would like to read about another couple of Canadian guys that met in University and started an empire in the Internet world do so by going here.
It is, by the way, the platform I recommend the most if you are interested in getting a piece of the Internet Real Estate pie for yourself.
Don’t forget to leave some comments below.
Are you using Shakepay?
If so, are you satisfied with what Shakepay provides?
Would you like to learn how to create your own presence online?
Get in touch with me.