Auto-swap lets you send eligible ERC-20 tokens to your Shakepay Ethereum address and automatically convert them into a supported currency such as BTC, ETH, USD, or CAD.
Auto-swap can be used both to recover certain unsupported tokens previously sent to Shakepay and to convert eligible external tokens into supported assets on Shakepay.
Unsupported tokens are not available for trading or custody on Shakepay and are automatically converted during the Auto-swap process.
How do I enable or disable Auto-swap?
Open the Shakepay app and sign in.
Open Settings by clicking the ⚙️ icon on the right top corner
Click Automations
Click on Auto-swap and toggle the option on or off
If toggling on, select the currency you would like your unsupported tokens to convert to and click confirm
How do I deposit tokens if Auto-swap is disabled?
Open the Shakepay app and sign in.
On the main page, click on the banner under the "Add" and "Send" buttons showing your unsupported tokens
Click Enable Auto-swap
Choose the currency you would like to convert your tokens to and click Confirm
Once enabled, click Done to complete the process
What is Auto-swap?
Auto-swap is a conversion feature that allows eligible unsupported ERC-20 tokens sent to your Shakepay Ethereum address to be automatically converted into a supported currency.
Auto-swap uses third-party blockchain infrastructure and decentralized liquidity providers to perform the conversion.
Which tokens can I swap using Auto-swap?
Auto-swap supports many eligible ERC-20 tokens, including popular tokens such as USDT, SHIB and DAI.
Not all tokens or networks are supported, and eligibility may change over time.
Auto-swap currently supports eligible tokens sent on:
Ethereum
Arbitrum
Polygon
Base
Note: A minimum token value equivalent to $10 CAD is required for Auto-swap to process any supported token.
Can I use Auto-swap for tokens held outside Shakepay?
You can send eligible tokens from an external wallet to your Shakepay Ethereum address and convert them into a supported currency using Auto-swap.
Unsupported tokens sent through Auto-swap are automatically converted and are not held or made available as supported assets on Shakepay.
Which currencies can I receive?
You can choose to convert eligible tokens into:
BTC
ETH
USD
CAD
Why is there a fee?
Auto-swap conversions involve blockchain network costs, decentralized exchange execution costs, liquidity costs, and infrastructure costs.
Auto-swap may charge a fee or spread depending on the token, network conditions, and selected output currency.
Any applicable fees will be shown before you confirm the conversion.
How long does an Auto-swap take?
Most Auto-swap conversions are completed within a few minutes, but timing can vary depending on network activity and token liquidity.
Some swaps may take longer during periods of high congestion or volatility.
Why did my Auto-swap fail?
An Auto-swap may fail if:
the token has insufficient liquidity,
the market is highly volatile,
network conditions prevent execution,
the token is not eligible,
the network used is not supported, or
the transaction cannot be completed safely.
If a swap cannot be completed, please contact our customer support team. you may be able to try again later.
Are all tokens supported?
Auto-swap only supports eligible ERC-20 tokens on supported networks.
Unsupported tokens are not available for trading or custody on Shakepay and may not be recoverable or convertible in all cases.
Do you support tokens sent on Binance Smart Chain (BSC)?
Binance Smart Chain is not supported. Auto-swap currently supports eligible tokens sent on:
Ethereum,
Arbitrum,
Polygon, and
Base.
Tokens sent using unsupported networks, including BSC, may not be recoverable or eligible for Auto-swap.
Are all unsupported tokens recoverable?
Some unsupported tokens may not be eligible for Auto-swap recovery due to technical, liquidity, compliance, or operational limitations.
Recovery is not guaranteed.
Are Auto-swap transactions reversible?
Once completed, Auto-swap transactions are final and cannot be canceled or reversed.
Are there tax implications?
Converting one crypto asset into another or into fiat currency may have tax consequences depending on your jurisdiction and personal circumstances.
Shakepay does not provide tax advice. You should consult a qualified tax professional if you have questions about your tax obligations.
Important information
Only funds sent to Ethereum addresses generated after January 2023 may be eligible for Auto-swap recovery.
The information in this article is provided for general informational purposes only and may change over time