The information provided in this article is for informational purposes only and should not be construed as legal, financial, or investment advice.
Users are solely responsible for ensuring they send supported cryptocurrencies via supported networks. Shakepay Inc. cannot recover coins or tokens sent via unsupported networks or coins that we do not support, and we are not responsible for any loss of funds resulting from such transactions.
Please refer to our Terms of Use and Privacy Policy for more detailed information. If you have any doubts or questions about your transactions, please contact our Customer Support team before proceeding.
What coins / networks does Shakepay support?
Shakepay supports the following cryptocurrencies and their respective networks:
Bitcoin (BTC) - Bitcoin Network
Ethereum (ETH) - Ethereum Network
Shakepay does not support ERC-20 coins sent on the Ethereum network, such as USDC, USDT or SHIB, nor does Shakepay support tokens like Solana, Doge, or Bitcoin Cash.
All networks other than the BTC and ETH networks are unsupported. That means that tokens sent on networks like the Binance Smart Chain (BSC), Arbitrum, KCC or other Layer 2 networks will be permanently lost.
Even ETH sent on these unsupported networks will not be credited to your Shakepay account and cannot be recovered.
What tokens can Shakepay recover?
Tokens sent on the ETH (ERC-20) network can sometimes be recovered.
That means that Shakepay might be able to recover ERC-20 tokens such USDT, USDC, SHIB, BNB and LINK.
Shakepay cannot recover any tokens sent on unsupported networks.
How long does it take for Shakepay to recover unsupported tokens?
The recovery of unsupported tokens can take upwards of a few weeks to six months. That’s because the Shakepay team needs to build new infrastructure to retrieve and return the unsupported tokens erroneously sent.
Why can’t Shakepay recover tokens sent via unsupported networks?
Each network operates using its own protocols and rules.
For example, a transaction meant for the Bitcoin network cannot be processed by the Ethereum network, and vice versa.
You can think of networks as different languages: different networks cannot communicate with one another much in the same way a French speaker cannot communicate with a Japanese speaker.
Can’t Shakepay just give me the private key to gain access to funds sent on an unsupported network?
Shakepay uses hot wallets (internet-based storage) secured by hot wallet providers to send and receive funds from clients before being placed into our cold wallet (offline storage).
These private keys are secured by the hot wallet providers, and as a result, we cannot manually access the private keys linked to those wallets.
In essence, Shakepay’s infrastructure is not designed to monitor or process transactions sent on unsupported networks. Trying to recover tokens sent on unsupported networks would be like trying to tune into an AM radio station while configured to FM.
What do I do if I’ve sent Shakepay a recoverable coin?
If you’ve sent an ERC-20 token on the ETH network, the first step is to contact Shakepay customer support.
Here are the steps to contact the support team from the Shakepay app:
Open the Shakepay app and log in.
Tap the Settings wheel at the bottom right.
Tap Help.
Tap Support Chat.
Tap Send us a message.
Please be prepared to share:
The date and time of the transaction.
The type of token sent, as well as the amount.
The transaction ID.
A wallet address Shakepay can return the coins to (please be sure that the address supports the token being returned)
If the tokens are indeed recoverable, customer support will then escalate the ticket to the appropriate team to begin the recovery process.