- Cashback is in Bitcoin
- Apple Pay Enabled
- Only BTC and ETH supported
- High Foreign Exchange Fee
|Visa or MC
|Debit or Credit
|Monthly Inactivity Fee
|Foreign Exchange Fee
|Crypto to Fiat Crypto->Fiat Conversion Fee
|Entry-Level Cashback Monthly Cap
|Daily Spending Limit
|Daily ATM Withdrawal Limit
|Crypto to Fiat Conversion
Manual when Preloading
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:
|Entry Level Cashback
|Entry Level Cashback Monthly Cap
Shakepay Card is a Debit Card
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 real-life currency and moving it to the card account, to make it available for spending.
It's Issued Solely in Virtual Form, Lacking a Physical Version
Shakepay Card is available solely in virtual format, unlike 50% 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
|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
|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.
How Does Shakepay Card Compare to Other Crypto Cards?
Shakepay Card ranks #5 out of 5 amongst similar crypto cards. This makes it the last on the list. But don't rush to judge, our rating is based on company strength, fee structure and customer service - if this card supports your country while others don't, or you use their other services, this card may still be a good choice for you.
Weakest Features Against Competitors
Compared to its 4 competitors, here are the shortcomings of Shakepay Card:
- 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 13,000 CAD daily spend limit on average).
- Supports only 2 cryptocurrencies, BTC and ETH (while other cards support an average of 20).
- Their customer service is poor with a 5.4/10 score (competitors score 7/10 on average).
- Requires preconversion of crypto to load the card (while 20% of competitors auto-convert on every purchase).
- Only available in virtual format (while 60% of competing crypto cards offer both physical and virtual cards).
Shakepay Card vs. Netcoins Card vs. Kinesis Card
|Foreign Exchange Fee
|Crypto to Fiat Fee
|Daily Spending Limit
|Daily ATM Limit
|N/A (Virtual-Only Card)
|Availability for United States
If you plan to use your card for daily purchases, then daily spending limit is an important consideration for you. Kinesis Card offers the highest daily spending limit of 15,000 CAD. You will get lower daily limits with Shakepay Card and Netcoins 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. Both Shakepay Card and Netcoins Card offer solid cashback rewards of 1%. With Kinesis Card, you will have no cashback rewards at all.
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.
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 5 cards listed there.
You may also be interested in this article: Crypto Cards for USA: The Best Options for Americans.