Bitbuy vs Shakepay: Which is Best? [2025]
Key differences
- Shakepay has lower total costs (1.25%) compared to Bitbuy (2.5%) for purchases.
- Bitbuy supports 33 cryptocurrencies while Shakepay supports only 3 (Bitcoin, Ethereum, USDC).
- Shakepay offers commission-free trading with only spread fees, while Bitbuy charges both trading fees and spread.
- Bitbuy offers Auto-DCA functionality while Shakepay focuses on simple manual purchases.
Bitbuy vs Shakepay Fees Calculator
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Bitbuy vs Shakepay in Comparison
Description
Fast, secure Canadian exchange with high limits and BTC insurance.
Shakepay is a regulated Canadian cryptocurrency exchange offering commission-free Bitcoin and Ethereum trading with Interac e-Transfer funding.
Supported Countries
Only available in Canada. Registered with Ontario Securities Commission (OSC) and FINTRAC.
Available only in Canada. Licensed to operate in all 13 Canadian provinces and territories.
Supported Cryptocurrencies
33 cryptocurrencies including BTC, ETH, USDC, SOL, DOGE, SHIB, XRP, ADA, MATIC, DOT, AVAX, LINK, MANA, and more
Bitcoin, Ethereum, USDC
Fees
- Withdrawal Fees:
- Interac e-Transfer: Free
- Bank Deposit: 1.5%
- Wire Transfer: 1.5%
- BTC: 0.0005 BTC
- Trading Fees:
- Commission: 0% (commission-free)
- Spread: 0.5% - 2.0% (varies with market conditions)
Deposit Fees:- Interac e-Transfer: Free
- Wire Transfer: Free
Withdrawal Fees:- Interac e-Transfer: Free
- Wire Transfer: Free
- Crypto (normal speed): Free
- Crypto (fast speed): Network fees apply
Payment Methods
Interac e-Transfer, Bank Account, Credit Card, Debit Card
Interac e-TransferWire TransferDebit Card
Do These Exchanges Allow you To Earn Interest on Crypto?
Up to 11.57%
Earn up to 11.57% APY through crypto staking on ETH, SOL, DOT, MATIC, ADA, NEAR, ATOM, INJ, and TIA. Auto-compounding rewards with no lockup periods. Staking fees up to 30% on rewards (Bitbuy) + 9% (BitGo custodian). First TSX-listed company with OSC regulatory approval for staking.
0
No interest earning on crypto holdings, but offers 1% Bitcoin cashback on all purchases with Shakepay Card (up to 3% for first 90 days).
Mobile App Ratings
iOS Rating: 4.5 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 4.5 Official rating from the Android Play Store as of November 18, 2024.
iOS Rating: 4.6 Official rating from the iOS App Store as of November 18, 2024.
Android Rating: 4.5 Official rating from the Android Play Store as of November 18, 2024.
Storage
Multi-tiered security system with servers secured across multiple world-class cloud providers. Features include 2FA authentication, comprehensive BitGo insurance policy, proof-of-solvency accounting, routine financial/security audits, and privately maintained closed-source codebase. First Canadian registered marketplace for crypto assets, federally approved as a Restricted Dealer.
Cold storage with insurance policy covering theft, loss, and damages. Multi-party approval required for transactions. Segregated accounts keep customer funds separate from company funds. No fractional reserve - full customer fund backing maintained.
Have These Exchanges Been Hacked Before?
No. No publicly reported major hacking incidents.
No reported security breaches or loss of customer funds.
Official Site
Exchange Review
No review available
"Bravo Bitbuy! Hands down best Bitcoin buying app in Canada. I have used all of the other crypto apps in Canada including Coinsquare, Coinberry and Shakepay. This is by far the best app out of them all. I love the quick turnaround times, low BTC prices and lightening fast customer service."
- Real user review from iOS App Store, Android Play Store or Trustpilot
No review available
"Shakepay is extremely easy to use and isn't as costly as some of the other exchanges I've used."
- Real user review from iOS App Store, Android Play Store or Trustpilot
Bitbuy vs Shakepay Comparison
Fee Structures
Bitbuy charges a flat 1.5% trading fee plus a 1% spread fee, resulting in a total cost of 2.5% for purchases. They offer free Interac e-Transfer deposits and withdrawals, but charge 1.5% for bank deposits and wire transfers, plus a 0.0005 BTC withdrawal fee for Bitcoin.
Shakepay offers commission-free trading with only a 1.25% spread fee (varies with market conditions), resulting in a total cost of 1.25%. They provide free Interac e-Transfer deposits and withdrawals, free wire transfers, and free crypto withdrawals at normal speed.
Feature Set
Bitbuy provides a comprehensive Canadian exchange with 33 cryptocurrencies, Auto-DCA functionality, built-in wallet, and fast fiat on/off ramps. They offer federal registration with OSC and FINTRAC compliance, making them ideal for Canadian users seeking a full-featured crypto platform with multiple asset options.
Shakepay focuses on simplicity with commission-free Bitcoin and Ethereum trading, built-in wallet, and a Shakepay Card that offers 1% Bitcoin cashback on all purchases (up to 3% for first 90 days). The platform is designed for easy crypto accumulation with minimal fees and manual purchasing.
Geographic Availability
Bitbuy is exclusively available in Canada and requires Canadian residency. They are registered with the Ontario Securities Commission (OSC) and FINTRAC as a federally approved Restricted Dealer, making them a trusted choice for Canadian crypto investors.
Shakepay is available only in Canada and is licensed to operate in all 13 Canadian provinces and territories. They are regulated by FINTRAC and CIRO, with over 1 million Canadian users.
Payment Methods
Bitbuy supports Interac e-Transfer, Bank Account, Credit Card, and Debit Card. All deposit methods are free, but withdrawal fees apply for bank deposits and wire transfers. The platform is optimized for Canadian banking systems.
Shakepay supports Interac e-Transfer, Wire Transfer, and Debit Card. All deposit and withdrawal methods are free, making it cost-effective for Canadian users. The platform is specifically designed for Canadian banking integration.
Security Features
Bitbuy implements multi-tiered security with servers across multiple cloud providers, 2FA authentication, comprehensive BitGo insurance policy, proof-of-solvency accounting, and routine audits. They maintain a privately developed closed-source codebase and are the first Canadian registered marketplace for crypto assets.
Shakepay features cold storage with insurance policy covering theft, loss, and damages. They use multi-party approval for transactions and maintain segregated accounts to keep customer funds separate from company funds. No fractional reserve is maintained - full customer fund backing is ensured.
Customer Support
Bitbuy offers fast email and ticket-based support with human representatives, providing responsive assistance tailored to Canadian users' needs.
Shakepay provides human support through their app-based system, offering assistance to their large user base of over 1 million Canadian customers.
Additional Features
Bitbuy focuses on Canadian-specific banking compatibility, fast onboarding, and Bitcoin insurance coverage. They offer a comprehensive platform with 33 cryptocurrencies, Auto-DCA functionality, and built-in wallet features designed for serious crypto investors.
Shakepay offers the Shakepay Card for spending crypto with Bitcoin cashback rewards, making it unique among Canadian exchanges. The platform emphasizes simplicity and ease of use for Bitcoin and Ethereum accumulation, with commission-free trading and built-in wallet functionality for manual purchases.
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