Shakepay Card
- Cashback is in Bitcoin
- Apple Pay Enabled
- Only BTC and ETH supported
- High Foreign Exchange Fee
-
Key Features
| Visa or MC | |
|---|---|
| Debit or Credit | Prepaid Card |
| Denominated In | $ CAD |
| Apple Pay | Enabled |
| Monthly Fee | 0.00 CAD |
| Monthly Inactivity Fee | 0.00 CAD |
| Crypto to CAD Crypto->CAD Conversion Cost | ~0.75% |
| Highest Cashback | 1% |
| Entry-Level Cashback | 1% |
| Entry-Level Cashback Monthly Cap | 500 CAD |
| Daily Spending Limit | 3,000 CAD |
| Daily ATM Withdrawal Limit | 1,000 CAD |
| Foreign Exchange Fee | 3% |
| Crypto to Fiat Conversion | Manual when Preloading |
| Crypto Asset Management | Custodial (stores crypto keys on your behalf) |
| Supported Countries | Canada |
| Supported Cryptocurrencies | BTCETH |
Shakepay Card: Enjoy Bitcoin cashback and Apple Pay compatibility
Shakepay Card Benefits and Rewards
Shakepay card offers 1% cashback on all purchases you make with the card, plus an additional 1% for the first $5,000 CAD as a signup bonus.
Cashback rewards are paid in Bitcoin and deposited into your Shakepay account.
Reality CheckAlthough other cards may advertise higher cashback rates, entry-level users with 1,000 CAD in assets typically receive much lower cashback rates from those cards. When compared at the entry-level tier, Shakepay Card's 1% cashback offers more value:
| Shakepay Card | Industry Average1 | |
| Entry Level Cashback | 1% | 1% |
| Entry Level Cashback Monthly Cap | 500 CAD | 400 CAD |
Shakepay Card is a Prepaid Card
- Debit Card
- Credit Card
- Prepaid Card
- CA
Canada-based Bank Account- in your name
Shakepay Card is a prepaid card carrying its own balance, and you'll need to top it up before use. Alongside, Shakepay offers you a personal bank account. You'll receive a Canada-based bank account number, issued in your name, which is a nice additional option to have.
Useful:Some crypto card companies only allow fiat deposits from accounts that are directly in your name. With Shakepay, third party senders are able to deposit funds into your bank account, which means you can receive fiat withdrawals from exchanges or receive salary payments.
It's Issued Solely in Virtual Form, Lacking a Physical Version
Shakepay Card is available solely in virtual format, unlike 40% of crypto cards offering both physical and virtual versions. This means you cannot use it for ATM withdrawals, or at places like car rental companies or hotels that require a physical card for security deposit and identity verification. The virtual card will be issued to you instantly after you complete the KYC Identity Verification.
Wondering about the pros and cons of virtual-only format? Here are some highlights:
No Physical Card | Virtual Card |
|---|---|
| No ATM Withdrawals | Instantly Available, No Waiting for Mail |
| No Card when Hotels or Car Rentals Require it | Ideal for Online Purchases |
| No Card When Phone Dies or no Internet | Environmentally Friendly |
| No Feel-Good Backup Payment Method | No Tangible Item to Misplace |
Useful:Since Shakepay Card supports Apple Pay, you can still use this card in real life, to pay for everyday purchases.
Crypto-to-CAD Conversion Cost with Shakepay Card
Shakepay Card Requires Pre-Load
Before you can use your Shakepay Card, you will need to top-up your account. This means you will have to convert your crypto in advance, exchanging it to CAD and moving it to the card account, to make it available for spending.
| Crypto to Fiat Conversion Fee | 0% |
| Sell Spread | ~0.75% |
| Load Fee | 0% |
| Transaction Fee | 0% |
| Total Crypto to CAD Cost | ~0.75% |
Low Cost:Compared to the average ~1.8% crypto-to-fiat cost of other cards, converting crypto with Shakepay Card is much more cost-effective (~0.75%). This means that you will get more CAD for your crypto when using this card.
From all crypto cards we reviewed for North America, Crypto.com Card, Shakepay Card and Netcoins Card offer the cheapest crypto-to-fiat conversions (~0.75%, ~0.75% and ~1.1% respectively), while converting crypto with Coinbase Card will cost you the most, ~4%.
How Does Shakepay Card Compare to Other Crypto Cards?
Shakepay Card ranks #30 out of 47 amongst all the crypto cards we have reviewed so far. This card is a solid choice among the many crypto cards available, offering competitive features and benefits.
We compared Shakepay Card with 13 similar crypto cards, available for the same geographical region. See the resulting pros and cons below.
Strongest Features Against Competitors
Here are the strongest features of Shakepay Card against its 13 competitors:
- Offers up to 500 CAD per month in cashback for entry-level users (exceeding the competitors' 400 CAD average).
- Their crypto-to-fiat conversion cost, including all related fees and spread, is among the lowest at ~0.75% (versus an average of ~1.8% with other cards.)
Weakest Features Against Competitors
Compared to its 13 competitors, here are the shortcomings of Shakepay Card:
- Offers 1% cashback (while other cards give an average of 4%).
- Has a Foreign Exchange Fee of 3% (other cards have 1.5% average).
- Daily spend is capped at 3,000 CAD (while other cards offer 12,000 CAD daily spend limit on average).
- Supports only 2 cryptocurrencies, BTC and ETH (while other cards support an average of 40).
- Requires preconversion of crypto to load the card (while 30% of competitors auto-convert on every purchase).
- Only available in virtual format (while 40% of competing crypto cards offer both physical and virtual cards).
Shakepay Card vs. Crypto.com Card vs. Coinbase Card
Shakepay Card
|
Crypto.com Card
|
Coinbase Card
|
|
|---|---|---|---|
| Monthly Fee | 0.00 CAD | 0.00 CAD | 0.00 USD |
| Crypto to Fiat Cost | ~0.75% | ~0.75% | ~4% |
| Highest Cashback | 1% | up to 5% | up to 4% |
| Entry-Level Cashback | 1% | 1% | 1% |
| Daily Spending Limit | 3,000 CAD | 35,000 CAD | 2,500 USD |
| Daily ATM Limit | 1,000 CAD | 700 CAD | 1,000 USD |
| Foreign Exchange Fee | 3% | 2% | 2.49% |
| Asset Management | Custodial | Custodial | Custodial |
Availability for  United States |
|||
| Supported Cryptocurrencies | 2 | 22 | 235 |
| Apple Pay | Enabled | Enabled | Enabled |
| Customer Service | Average | Bad | Great |
| Company Strength | Medium | Strong | Strong |
If you plan to use your card for daily purchases, then daily spending limit is an important consideration for you. Crypto.com Card offers the highest daily spending limit of 35,000 USD. You will get lower daily limits with Shakepay Card and Coinbase Card.
Cashback rewards are a great way to earn back some of the money you spend on your card and is an important consideration as well. Out of the three, Crypto.com Card offers the best cashback rewards of up to 5%. The cashback rewards for Shakepay Card and Coinbase Card are not as high.
To make a good choice, look through all features, as it is an individual choice. If you will mostly do online transactions with this card, then Apple Pay availability may not be a very important feature for you. If you travel a lot, foreign exchange rate will matter. And so on.
Shakepay Referral Code - to Get 20 CAD Bonus
You can use referral code 237KFGD to get 20 CAD bonus when you create an account on Shakepay platform.
Here's how you can enter the referral code:
..or, just click here.
Your bonus will be paid out to you right after you buy your first 100$ worth of crypto.
p.s. Are we getting paid for referring you? Yes, and it helps us continue our mission. It's like you are buying us lunch 🍱 for all the hard work we've put into building this site. We really appreciate it. Thank you. 🙏🤗
Is Shakepay Card Available for Residents of United States?
No, Shakepay Card is not available for residents of United States.
Shakepay Card supports: Canada.
To see our list of available crypto cards for United States, see this list. There are currently 8 cards listed there.
You may also be interested in this article: Crypto Cards for USA: The Best Options for Americans.
Helpful. What's My Next Step?
Paulina Masson
Paulina has a strong background in finance and cryptocurrency. She's been involved with crypto since its early days and has observed its progression over the years. Notably, she possesses expertise in various crypto products, having personally tested and evaluated many of them. In her spare time, she is developing a crypto bot designed to automatically trade on short timeframes.
