How to Buy Bitcoin on Shakepay

Shakepay is a popular platform for buying and selling cryptocurrencies, especially Bitcoin. Here's a step-by-step guide on how to buy Bitcoin using Shakepay:

1. Sign Up for Shakepay
To get started, you'll need to create an account on Shakepay. Download the Shakepay app from the App Store or Google Play Store. Once downloaded, open the app and follow the prompts to sign up. You'll need to provide your email address, create a password, and verify your email. After that, you’ll need to go through the verification process which includes providing some personal information and a government-issued ID for identity verification.

2. Complete KYC Verification
Shakepay requires users to complete a Know Your Customer (KYC) verification to comply with regulatory standards. This process ensures that Shakepay is aware of who its users are and helps to prevent fraudulent activities. You’ll be asked to upload a photo of your ID and a selfie to confirm your identity. This process might take a few minutes to a couple of days depending on the volume of applications and the speed of verification.

3. Deposit Funds into Your Shakepay Account
Before buying Bitcoin, you'll need to deposit funds into your Shakepay account. You can do this by linking your bank account and transferring money directly from it. Go to the 'Deposit' section in the app and select the 'Bank Transfer' option. Follow the instructions to link your bank account and initiate a transfer. Shakepay supports both Canadian and U.S. dollars.

4. Buy Bitcoin
Once your funds are deposited and reflected in your Shakepay account, you can proceed to buy Bitcoin. Open the app and navigate to the 'Buy/Sell' section. Select 'Buy' and then choose Bitcoin from the list of available cryptocurrencies. Enter the amount of Bitcoin you want to purchase or the amount of fiat currency you want to spend. Shakepay will show you the equivalent amount of Bitcoin you’ll receive.

5. Confirm the Purchase
Review the details of your purchase, including the amount of Bitcoin and the transaction fees. Once you’re satisfied, confirm the transaction. Shakepay will execute the trade and the Bitcoin will be credited to your Shakepay wallet.

6. Secure Your Bitcoin
To ensure the security of your Bitcoin, consider using Shakepay’s security features. Enable two-factor authentication (2FA) in the app for an added layer of protection. You can also transfer your Bitcoin to a private wallet for additional security. Shakepay provides the option to withdraw your Bitcoin to an external wallet address if you prefer to store it outside the platform.

7. Monitor and Manage Your Bitcoin
After purchasing Bitcoin, you can monitor its value directly from the Shakepay app. The app provides real-time price updates and allows you to track the performance of your investment. You can also sell your Bitcoin through the same 'Buy/Sell' section if you decide to liquidate your holdings in the future.

Additional Tips:

• Stay Informed: Keep up with Bitcoin market trends and news to make informed decisions about buying or selling.
• Check Fees: Be aware of transaction fees associated with buying and selling Bitcoin on Shakepay.
• Secure Your Account: Regularly update your security settings and use strong, unique passwords.

By following these steps, you'll be able to purchase Bitcoin easily using Shakepay. Happy trading!