Does Shakepay charge any fees?
Shakepay is a commission-free service - This means we do not charge any fees for buying or selling crypto. You can also transfer cash or crypto in and out of your account for free.
If Shakepay does not charge any fees, how do we make money?
Shakepay is not a marketplace where you buy and sell with other customers.
Like a local retail store that buys and sells goods, Shakepay is an online platform that offers digital currencies (bitcoin or ethereum) directly to our customers. When you buy bitcoin on Shakepay, we’re selling you the bitcoin ourselves. Similarly, when you want to sell your bitcoin, we take it off your hands.
To make money, we set the price you can buy or sell currencies for on Shakepay.
At any point in time, there will be a small difference between the price customers can buy crypto and the price they can sell.
The difference between a buy and sell price is commonly referred to as a spread.
Shakepay will capture this difference (or spread) as revenue to cover our costs as a business, maintain our platform and offer great service to customers.
Where can I find the buy and sell price?
The buy and sell prices can be found on the Buy & sell screen on the Shakepay app. To toggle between buying and selling, just change the ‘From’ currency between dollars and bitcoin.
Still have questions?