How to Buy Bitcoin in Canada Using Shakepay

Buying Bitcoin in Canada has never been easier, thanks to platforms like Shakepay. Whether you're new to the world of cryptocurrency or looking to expand your portfolio, Shakepay offers a straightforward way to buy Bitcoin. In this guide, we’ll walk you through the steps to purchase Bitcoin on Shakepay, including setting up your account, funding it, and making your first purchase.

Step 1: Create an Account
To start buying Bitcoin on Shakepay, you first need to create an account. Here’s how:

1. Visit the Shakepay Website or Download the App: You can access Shakepay via its website or mobile app, available on both iOS and Android.
2. Sign Up: Click on the "Sign Up" button. You’ll need to provide basic information like your name, email address, and phone number.
3. Verify Your Identity: To comply with Canadian regulations, Shakepay requires identity verification. You'll need to upload a valid ID and a selfie. This process usually takes just a few minutes.

Step 2: Deposit Funds
Once your account is set up, you’ll need to deposit funds to buy Bitcoin:

1. Link Your Bank Account: Go to the "Deposit" section in your Shakepay account and choose "Add Bank Account." Follow the prompts to link your Canadian bank account.
2. Fund Your Account: Choose the amount you wish to deposit and follow the instructions to transfer money from your bank account to Shakepay. Shakepay supports Interac e-Transfer for quick and easy deposits.

Step 3: Buy Bitcoin
With your account funded, you're ready to buy Bitcoin:

1. Navigate to the "Buy" Section: In your Shakepay account, find and click on the "Buy" button.
2. Enter the Amount: Decide how much Bitcoin you want to purchase. You can specify the amount in Canadian dollars (CAD) or Bitcoin (BTC).
3. Confirm the Transaction: Review the details of your purchase, including any fees. Confirm the transaction to complete your Bitcoin purchase.

Step 4: Secure Your Bitcoin
After purchasing Bitcoin, it’s crucial to keep it secure:

1. Use the Shakepay Wallet: Shakepay provides a secure wallet to store your Bitcoin. You can access your wallet directly through the app or website.
2. Consider a Hardware Wallet: For added security, you might want to transfer your Bitcoin to a hardware wallet. These devices store your private keys offline, making them less susceptible to hacks.

Tips for Using Shakepay

1. Monitor Fees: Shakepay charges a fee for buying and selling Bitcoin. Always review these fees before completing your transactions.
2. Enable Two-Factor Authentication: For additional security, enable two-factor authentication (2FA) on your Shakepay account. This adds an extra layer of protection against unauthorized access.
3. Stay Informed: Keep up with cryptocurrency news and market trends to make informed decisions about buying and selling Bitcoin.

Conclusion
Buying Bitcoin in Canada with Shakepay is a simple and efficient process. By following these steps, you can quickly set up your account, deposit funds, and make your first Bitcoin purchase. Always ensure to secure your assets and stay updated with market trends to make the most out of your investments.