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How do receiving addresses work at Shakepay?
How do receiving addresses work at Shakepay?

Which networks or addresses does Shakepay support

Updated over a week ago

Why does my Shakepay BTC wallet address change?

  • Rotating wallet addresses are a best practice for privacy purposes.

What you need to know

  • New Bitcoin addresses will be assigned to you after every use.

  • You may continue to use previously assigned addresses but it is best practice in Bitcoin not to reuse addresses.

  • Ethereum address will not be generated every time you send ETH to your Shakepay wallet.

Note: As of Wednesday, May 29th, 2023 all new BTC addresses generated will be Native SegWit.

Will my previous Shakepay wallet addresses still work?

  • Yes, your old wallet addresses will still be supported. If you have sent funds to your old wallet address they will still be received. You are assigned new Bitcoin wallet addresses which we recommend switching to right away for the best service.

Important: January 5th we assigned all customers a new Ethereum wallet address. As of July 1st, 2023 Shakepay will only support transactions to this new address.

This means, as of July 1st, 2023, ETH transactions sent to your old deposit address will result in permanent loss of funds.

What if I am sending BTC from a wallet that does not support Native SegWit?

  • If you are sending BTC from a wallet or platform that does not support Native SegWit, please reach out to our support team.

  • We will be able to generate a Wrapped SegWit address for you.

Which networks and tokens does Shakepay support?

  • Please note that Shakepay offers support exclusively for bitcoin (BTC) on the Bitcoin network, and ethereum (ETH) on the Ethereum network.

  • Shakepay does not offer support of any tokens (USDC, USDT) on any other blockchain networks, sending ETH or any other token to your Shakepay receive address using an unsupported network such as BEP or ARB will result in permanent loss of funds.

  • Shakepay can not retrieve or refund tokens sent to your receiving address that have been sent on an unsupported blockchain network.

  • This applies to withdrawing funds from Shakepay as well.

    Please reach out to our Customer support team if you have any doubts!

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