Shakepay Short Review
Financial brokers or exchanges play a significant role in trading. They offer support, tools, the latest technology and, most important, trading platforms. As a result, users can easily connect with the market to invest.
Although the list of service providers is long. Here we'll analyse Shakepay, the cryptocurrency exchange. A short review of the exchange will enlighten traders about its services and how well it operates.
So, let's dive straight into Shakepay's short review.
Glance of Shakepay
Shakepay is a cryptocurrency exchange. It allows traders to invest in cryptos of various types to earn profits. The exchange is based in Canada and thus only accessible to Canadian investors.
Traders can buy or sell Bitcoin and Ethereum easily on the platform. It has facilitated the trading of more than $5 billion since its launch in 2015.
However, the Shakepay app does not allow keeping cryptocurrency private keys. Instead, users can transfer their funds to crypto wallets with the business.
Over the years, the exchange has had more than 600,000 Canadian clients.
The Shakepay exchange is CDN or inverse, allowing traders to convert Canadian dollars into digital assets. Traders can also easily open their accounts with the platform and trade.
Regulatory Body
Shakepay Inc. is a Canadian company. It is part of the Canadian federal corporation. The company's headquarters are in Montreal, registered with the Financial Transactions and Report Analysis Centre of Canada.
It holds the registration as a virtual currency trader. Besides, it also has registration with Quebec with Revenu Quebec.
The crypto exchange has regulations by two authorities. FINTRAC and AMF regulate the company and ensure a secure trading environment.
Thus, it is a legit trading platform. Therefore, users can trust the platform and invest with them to make suitable investments.
Shakepay Features
Traders can enjoy a range of services with the Shakepay cryptocurrency exchange. All the features support traders in finding the best market opportunities and make their trading smooth and effortless.
Here are some of the significant features of the Shakepay trading platform:
Desktop Platform
Shakepay's desktop trading platform is at the beginning of its phase. Traders can understand the platform pretty easily. They can easily buy or sell cryptos within a few clicks.
The funding of the account of Shakepay is either with Interac e-transfer or Bank transfer. Besides, the creation of accounts, trading and platform use is smooth. Traders need not put in any extra effort to make it work.
Shakepay App
Shakepay app is an intuitive trading application. It is as simple to use as the desktop platform. Traders can purchase and withdraw cryptos easily. But it also has considerable limitations.
It misses some of the excellent features of the desktop platform. For example, it does not have depth charting or different order types. However, it is an excellent platform to trade anywhere and directly.
Traders can monitor their funds and trades and make changes when they want.
Security
Shakepay offers clients high security. It has regulations of top-notch bodies and has proper registration.
FINTRAC and AMF look after its working with the best security to trade.
It ensures the platform operates as per the standards of the industry. Traders, moreover, can hold their assets in Shakepay wallets. Thus, high security is offered for the clients.
The exchange keeps the security of its customers as the top priority.
ShakeSat's
ShakeSat is the unique facility of the Shakepay platform. Traders can use the service through their mobile app. In addition, the facility allows traders to receive a small amount of free Bitcoin daily with the app.
Traders, therefore, need to open the app every 24 hours by providing the phone with a physical stake. After that, the Bitcoin gets credited to the trader's account. Also, traders get more with every consecutive day.
Pros and Cons of Shakepay
To summarise and get a quick overview of the exchange, below we have the advantages and disadvantages of Shakepay. Traders can analyse it and then decide whether to trade or not with the platform.
Pros:
Most user-friendly exchange
Interac e-transfer and bank transfer facility
Shakesat offering
Mobile app
Regulated and registered crypto exchange
Allows trading with debit card
Cons:
Only available in Canada
It does not provide control of the wallet
Conclusion
Shakepay is an efficient cryptocurrency exchange. It allows traders to buy, sell or hold cryptos easily. Traders can open accounts and get their wallets to trade. In addition, the platform has many advanced features.
Overall the best trading platform for the people of Canada.