You can convert between select currencies directly in your Shakepay account using exchange pairs. For example, if you want to convert Bitcoin to Ethereum, you can do so using the BTC <> ETH exchange pair—all within a single transaction. Exchange pairs make it easy to move between supported crypto and fiat currencies without needing to convert to dollars in between.
Which crypto and currency pairs are available for exchange?
You can currently exchange between the following pairs on Shakepay:
BTC <> ETH
CAD<>BTC
CAD<>ETH
CAD <> USD
USD <> BTC
USD <> ETH
How do I exchange from crypto (BTC/ETH) to fiat (CAD/USD) on Shakepay?
You can exchange between crypto and fiat by following these steps:
Open the Shakepay app and sign in.
Click the Buy/Sell button on the home screen.
Tap Buy Bitcoin at the top of your screen.
Select the currency you want to convert in the From selection menu.
Select the currency you want to convert to in the To selection menu.
Input the amount you want to exchange
Tap Review Order to review the details.
Tap the blue confirmation button at the bottom of the screen to finalize your exchange.
How do I exchange crypto to crypto (ex: BTC to ETH) on Shakepay?
You can exchange between BTC and ETH by following these steps:
Open the Shakepay app and log in.
Click the Buy/Sell button on the home screen.
Tap Buy Bitcoin at the top of your screen.
Select the cryptocurrency you want to convert in the From selection menu.
Select the cryptocurrency you want to convert to in the To selection menu.
Input the amount of crypto you’d like to exchange, or tap one of the quick amount buttons.
Tap Review Order to review the details.
Tap the blue confirmation button at the bottom of the screen to finalize your exchange.
Note: BTC <> ETH exchanges are not currently available for recurring or custom orders.
Do volume discounts apply when completing a market order above $100,000 for the new exchange pairs: BTC/ETH & ETH/BTC?
Yes, we apply volume discounts when you complete a market order of at least $100,000 of BTC to ETH or ETH to BTC. You can read more about volume discounts here,
Are there any fees for exchanging pairs?
Shakepay is a commission-free service. This means we do not charge a commission for buying or selling crypto, buying or selling CAD/USD, or funding and withdrawing from your account. Instead, we set the price at which you can buy or sell crypto and CAD/USD, which includes a small difference, to cover our costs. The difference represents our profit margin (or revenue).
You can find more info about this in our FAQ (How Shakepay makes money) and in our Best Execution Policy.
Are there tax implications when exchanging crypto to crypto?
A crypto to crypto exchange is considered a taxable event. For more details on your tax obligations, please refer to our Tax Guidelines for Cryptocurrency Transactions.