We’re always here to make the world of crypto as simple as possible. Here’s a quick breakdown of the app, to help understand the listed values of Bitcoin and Ethereum on the main screen.
Shakepay is a commission-free service, this means there are no added fees when buying or selling digital currencies. You can see all the details here.
Just like purchasing with any currency, we provide a buy and sell price for your crypto which you’ll notice are different.
The difference between a buy and sell price is referred to as a spread. With a spread between the two prices, what does that mean for the amount that appears on the main screen?
The Canadian dollar equivalent you see on the main screen is calculated using the average of the buy and sell prices, which is also referred to as the median price. The median price is used to give our users a better idea of the current value of their crypto.
As the main screen will show a mid market rate, it’s normal that the value displayed on the main screen differs from the buy or sell rates.