How to Use Shakepay to Buy Bitcoin

If you're interested in buying Bitcoin and are considering using Shakepay, you're in the right place. Shakepay is a user-friendly platform that allows you to buy, sell, and store Bitcoin and other cryptocurrencies. This guide will walk you through the steps to purchase Bitcoin on Shakepay, ensuring you can make the most of this easy-to-use service.

Step 1: Sign Up and Verify Your Account

To get started with Shakepay, you'll first need to create an account. Download the Shakepay app from the App Store or Google Play, or visit their website. Once you have the app or are on the site, follow these steps:

1. Open the app and click on "Sign Up."
2. Enter your email address and create a secure password.
3. Verify your email by clicking on the verification link sent to your inbox.
4. Log in to your Shakepay account and proceed with identity verification. You’ll need to provide some personal information, including your full name, date of birth, and a government-issued ID for verification.

This step is crucial for ensuring the security of your account and compliance with financial regulations.

Step 2: Deposit Funds into Your Shakepay Account

Before buying Bitcoin, you need to deposit funds into your Shakepay account. Shakepay supports deposits via bank transfers, which can be done through the following steps:

1. Log in to your Shakepay account.
2. Navigate to the "Deposit" section.
3. Select "Bank Transfer" and follow the instructions to link your bank account.
4. Transfer funds from your bank account to your Shakepay account using the provided details. Make sure to follow any specific instructions to ensure the transfer is processed correctly.

Step 3: Buying Bitcoin

With funds in your Shakepay account, you can now buy Bitcoin. Here’s how:

1. Open the Shakepay app and go to the "Buy" section.
2. Select Bitcoin (BTC) from the list of available cryptocurrencies.
3. Enter the amount of Bitcoin you want to purchase, or the amount of Canadian dollars (CAD) you want to spend.
4. Review the transaction details, including the amount of Bitcoin you'll receive and any associated fees.
5. Confirm the purchase by tapping on the "Buy" button.

Step 4: Storing Your Bitcoin

After purchasing Bitcoin, it will be stored in your Shakepay wallet. Shakepay provides a secure wallet to hold your cryptocurrency, but you can also transfer your Bitcoin to an external wallet for added security. If you choose to do this:

1. Go to the "Withdraw" section in the app.
2. Select "Bitcoin" and enter the address of your external wallet.
3. Confirm the withdrawal details and complete the transfer.

Step 5: Monitoring Your Investment

Shakepay provides a straightforward interface for monitoring your Bitcoin investment. You can view your balance, transaction history, and current Bitcoin price in the app. Keeping track of these details will help you manage your investments more effectively.

Additional Tips for Using Shakepay

• Enable Two-Factor Authentication (2FA): For added security, enable 2FA in your account settings. This provides an extra layer of protection for your account.
• Stay Updated on Fees: Shakepay has competitive fees, but it's essential to be aware of any fees associated with buying or selling Bitcoin.
• Use the Shakepay Card: Shakepay offers a prepaid Visa card that allows you to spend your cryptocurrency directly. It’s a convenient way to use your Bitcoin for everyday purchases.

By following these steps, you can easily use Shakepay to buy Bitcoin and manage your cryptocurrency investments. The platform’s user-friendly design makes it accessible for beginners and experienced users alike. Happy investing!