About

Shakepay is a digital currency platform based in Canada that enables users to buy, sell, and manage Bitcoin and Ethereum quickly. The platform features a mobile app and web interface designed for easy cryptocurrency transactions, catering to both beginners and experienced users. Shakepay generates revenue through transaction fees and spreads on buy/sell orders. A standout feature is the 'Shakepay Card,' a prepaid Visa card that allows users to spend their cryptocurrency instantly, converting it to Canadian dollars at the time of purchase. The company prioritizes security and gives users control over their digital assets, with all transactions being final and irreversible. Shakepay exclusively serves Canadian residents and complies with local regulations.

Simplify's Take

What believers are saying

• Shakepay secured $44 million CAD in Series A funding for Bitcoin product expansion.
• The launch of everyday payment products meets growing customer demand in Canada.
• Partnership with Marqeta enhances Shakepay's card services with modern card issuing technology.

What critics are saying

• Increased competition from Canadian fintechs could erode Shakepay's market share.
• Bitcoin and Ethereum price volatility threatens Shakepay's transaction fee-based revenue model.
• Regulatory scrutiny in Canada may increase compliance costs for Shakepay.

What makes Shakepay unique

• Shakepay offers a unique 'Shakepay Card' for real-time crypto-to-CAD transactions.
• The platform provides a novel 'shakepaid' feature for high returns on deposits.
• Shakepay emphasizes zero fees for basic financial services, unlike many competitors.

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