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CRO Crypto.com Guide

Crypto.com for Canadians – Guide Part 1: Earn, Supercharger, CRO & More

We help Canadian Crypto.com users navigate several functions in the Crypto.com App in the first part of our guide series.

Crypto.com is an international cryptocurrency company with a full ecosystem of applications. These include the Crypto.com App, the Crypto.com Exchange, the Crypto.com DeFi Wallet, and more. Crypto.com is available for Canadian users and has recently launched their Crypto.com VISA Card in Canada.

Today, I’ll be providing a walkthrough of several functions of Crypto.com’s mobile app (available for iOS and Android), including it’s Crypto Wallet, Crypto Earn, and Supercharger. I’ll also show users how to unlock their $25 USD signup bonus and give an intro on the company’s CRO token. Because of the wide range of services Crypto.com offers, I’ve chosen to split this guide into multiple parts. Check back for future updates on Crypto.com Pay and the Crypto.com VISA Card, as well as all the services offered on the Crypto.com Exchange.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

If you’re interested in learning about a specific function of the Crypto.com App, use the following links to jump down to the appropriate section:

Crypto Wallet

Crypto Earn

The CRO Token

Crypto.com Supercharger

Unlocking Your Crypto.com Signup Bonus

Before I dive into any of the functions of the Crypto.com App available for Canadians, first it’s important to cover this question.

Is Crypto.com right for me?

Unlike some of the other options I’ve reviewed so far, Crypto.com is a full-service cryptocurrency ecosystem. It competes with companies like Coinbase and Binance. Because these apps have more to offer, they can be a bit intimidating for newer users. When I am talking to friends who are inexperienced with cryptocurrency investing, I usually suggest they start with one of the simpler Canadian options first and eventually graduate up to Crypto.com, once they need something the other apps don’t offer.

If you fall in this camp, check out Shakepay (read my Shakepay Review here) or Newton (read my Newton Review here) first. Both of these apps are a lot less intimidating than Crypto.com and are easier to use right off the bat (plus they’re both Canadian companies!). But, if you have experience already with cryptocurrencies, or if you know you want a certain function or token that the simpler apps don’t offer, then read on and see what Crypto.com can do!

If you know already that you want to get started with Crypto.com, use my Crypto.com referral link to get a $25 USD signup bonus (paid in CRO). I’ll walk through what the CRO token is and how to unlock the bonus below.

Sign up for Crypto.com here: http://crypto.com/app/7w6ccuwwfe

Crypto Wallet

Funding Your Account

Before getting set up with a crypto wallet for your desired cryptocurrency, you need to fund your account with Canadian dollars. You do this by setting up a Fiat Wallet. The App’s onboarding should help you do this, but in case it doesn’t, you can navigate to the “Accounts” tab (the second button from the left in the bottom menu) and click “Fiat Wallet”. Then click the “Set Up New Currency” button and select CAD.

Once this is set, you can fund your account with an E-Transfer by following your specific deposit instructions. In general, I’ve found these to be accepted and deposited quickly without any issues. There are other funding methods, but I haven’t used them so I’m not going to cover them here.

Buying and Selling Cryptocurrency

Once you have CAD in your account, you can start buying your desired cryptocurrencies. Crypto.com has A LOT of options, so make sure you do your research before investing in anything. There are several user flows you can navigate through to buy a specific coin. The simplest is to click on “Crypto Wallet” and then hit the “Buy” button. From here you’ll be prompted with a list you can scroll or search through to find what you want to buy.

Another way to get to this buy screen is from the description page of any of their supported cryptocurrencies. If you were already looking at a specific coin, there should be a “Buy (Blank)” button across the bottom of your app (as long as they support the coin).

Whichever way you used to get to the transaction screen, once you’re there make sure your buy order is set to use funds from your CAD Fiat Wallet. They have other order options, like credit cards, but most Canadian providers don’t support this type transaction, which will lead to an error.

Selling a cryptocurrency uses a very similar flow. Navigate to your Crypto Wallet and click on the currency you’d like to sell. Then hit the sell button and ensure you are selling it into CAD (that is, unless you want to convert it into another cryptocurrency). You can also transfer cryptocurrencies in and out of the app to other wallets.

Important Note: Crypto.com has no fees for buy or sell transactions. Although they don’t publicly state it, there does appear to be a bit of a price spread on some cryptocurrencies. When I compare the price to a known market value, most do appear higher. That being said, I’ve tested this on the Canadian Dollar stablecoin TrueCAD (TCAD) and there are no fees or spreads for that, meaning you can buy and sell it without worry.

Pro Tip: Before deciding to purchase any cryptocurrencies on the Crypto.com App, check out their buy and sell minimums. These vary coin-to-coin and often the buy minimum is less than the sell minimum, so you could be stuck holding the currency or buying more of (or converting it to CRO) if you want to sell.

Crypto Earn

One of the most appealing parts of the Crypto.com app is Crypto Earn. With this product, you can earn interest off of the tokens you hold. For example, if you knew you wanted to hold on to a chunk of Bitcoin for a month, regardless of how the assets price changed, then you could deposit it into a one-month Crypto Earn term deposit and receive interest on your investment.

Important Note: The interest for Crypto Earn is paid out weekly in the cryptocurrency you deposit straight into your Crypto Wallet for that currency. This means that the interest you receive is simple interest, rather than compound interest (more on that below).

Crypto Earn deposits are available in three categories, all based on term length. You can select one of two fixed-term deposits (one-month or three-month) or set up a flexible deposit, which allows you to remove your crypto at any point. The longer you lock up your crypto, the better the interest rate you receive. Below is a table that shows the interest rates for each cryptocurrency available in Crypto Earn. Note that the boosted interest rate for each level requires you to stake CRO at the Royal Indigo/Jade Green tier or above (more on that here).

Cryptocurrency3-Month Term APY1-Month Term APYFlexible APY
TCAD, USDT, USDC, DAI, PAX, TGBP, TUSD, TAUD12% / 10%10% / 8%8% / 6%
BTC6.5% / 4.5%4.5% / 3%2% / 1.5%
CRO6% / 6%4% / 4%2% / 2%
ETH5.5% / 4.5%4.5% / 3.5%3.5% / 2.5%
All Other Supported Currencies: DOT, UNI, XRP, ADA, LTC, BNB, BCH, LINK, XLM, ATOM, EOS, VET, MKR, EGLD, ALGO, COMP, ICON, OMG, BAT, ENJ, MANA, KNC, PAXG, CELR3% / 2%2% / 1%1% / 0.5%
Note: The first quoted APY in each column requires an ongoing stake of 50,000 or more CRO. The second quoted APY in each column is available to all other users.

As I mentioned above, all of these quoted interest rates are simple interest in an annual rate, paid weekly. That being said, there is a way to essentially compound your interest in Crypto Earn. At the end of your deposit term, you receive your investment back into your Crypto Wallet. If you then were to deposit it back into Crypto Earn including the interest you earned, then you are effectively creating a compound interest situation for yourself. You can even set up a series of Crypto Earn deposits that all end at different times (AKA laddering your deposits) to make your “compounding period” shorter.

Just like the transaction minimums in your Crypto Wallet, Crypto Earn also has minimums for deposits. It’s important to check how much of each cryptocurrency you need to set up a deposit. For example, you need 0.025 BTC to set up a Bitcoin Crypto Earn deposit. For Ethereum, on the other hand, you need 1 ETH to deposit it into Crypto Earn. Check out all the Crypto Earn deposit minimums here.

Pro Tip: If you have a chunk of CAD sitting in your Fiat Wallet, you could be earning interest off of it! You can trade your CAD for TrueCAD (TCAD), a Canadian dollar stable coin and deposit it in a flexible Crypto Earn. This gives you 6% interest (or a boosted 8% if you meet the bonus criteria). Just be aware of the transaction minimums (30 TCAD for selling), deposit minimums (350 TCAD), and the bit of extra time you’ll need each time you want to use to purchase other cryptocurrencies.

The CRO Token

The following couple sections require some ownership of Crypto.com’s CRO token in order to take part. CRO is the native token of Crypto.com’s blockchain.

As with all cryptocurrencies, it’s important to consider that the value of the token may decrease (or even go to zero) after you purchase it. Before choosing to purchase CRO in order to take part in Supercharger or get a CRO Visa Card, do your research and make sure you’re comfortable with that investment.

I’m not advocating for the long term value of CRO or even giving my opinion on whether it will go up or down in the near future. But, should you want to use either of the following two functions of the Crypto.com App, at least some CRO ownership is required.

Pro Tip: If you’re holding a small amount of a token and you no longer want it, you have the option of trading it for CRO regardless of the amount you hold. This process, called converting crypto dust, allows you to ignore the transaction minimums I mentioned above (with the important caveat that you can only use this process to get CRO). You can start this process by clicking the button second from right in the top corner while you’re in the Accounts tab.

Crypto.com Supercharger

Supercharger is a really interesting part of the Crypto.com App. It’s also available through the online Crypto.com Exchange, but as this guide is focused on the App, I’m only going to outline the Supercharger experience from an App user’s perspective.

Supercharger is Crypto.com’s version of token farming. A popular concept in many Decentralized Finance (DeFi) applications, token or yield farming allows a user to earn a token for staking a token they already own in a certain protocol. Supercharger borrows many structural elements from the DeFi yield farming setup, but in a centralized application (arguably making it easier to understand and interact with).

Let’s break yield farming down a bit, using Supercharger as our example. To participate in Supercharger, you first need to own some CRO tokens. Once you have these, you can deposit them into the current SuperCharger pool. For the amount of time your CRO tokens are in the pool (you can withdraw them at any point) you are entitled to a portion of the pool’s reward (equivalent to how much of the total pool you contributed). After the pool’s 30-day “charging period” is finished, rewards are paid out to participants in daily portions for 30 days. Note that Supercharger rewards are paid out into a user’s Crypto.com Exchange account. Make sure you set this up and link the two accounts prior to your first reward distribution.

So far, Crypto.com has had one pool running at once, each focused around a different token. The current pool (at the time of writing) is for the Near Protocol’s NEAR token. Previously, they have had Supercharger events for UNI, DOT, ZIL, and even BTC.

Important Note: You need to accept your reward distribution after the charging period is complete. If you forget to do this until after the reward period starts, you will actually forfeit some of your reward.

Pro Tip: Crypto.com will roll your CRO deposit over into its next Supercharger event. No need to withdraw and re-deposit your CRO!

Unlocking Your Crypto.com Signup Bonus

The last thing I’ll cover in part one of my Crypto.com for Canadians guide is their referral offer that you can get if you sign up with my referral code (using the link below). Unlike some of the other options I’ve reviewed, Crypto.com has a few extra steps you need to take in order to receive your bonus.

What is the Crypto.com Referral Bonus?

Crypto.com is offering anyone who signs up through my referral link a $25 USD bonus, paid in CRO tokens.

How do I get the Crypto.com Referral Bonus?

In order to unlock your signup bonus, first you’ll need to register through the link below and complete your account verification. Then, you need to complete the registration for one of Crypto.com’s metal VISA cards at the Ruby Steel tier or higher. This includes purchasing and staking the required amount of CRO for the tier you select. This means locking up the CRO tokens for at least 180 days.

Important Note: If you choose the Royal Indigo/Jade Green tier or above, you’ll earn 10% interest on the staked amount AND unlock the boosted interest rates I mentioned above in Crypto Earn.

Crypto.com recently announced that they are updating their staking requirements. Starting March 19, 2021 the amount required for each tier will be determined by a CAD equivalent, rather than a set number of CRO tokens. This decision was made to account for fluctuations in CRO’s value. You can read more about the new levels in their recent blog announcement. Until then, you can stake using the quoted CRO levels.

The Crypto.com VISA card comes with lots of benefits that I’ll cover in the next part of this series. Plus it’s super cool that it’s a metal card! My Royal Indigo VISA Card recently shipped, so I’m looking forward to getting it and trying it out.

If you’re ready to get started with the Crypto.com App and get your $25 USD valued referral bonus, sign up today using the following link:

http://crypto.com/app/7w6ccuwwfe

Conclusion

That concludes Part 1 of my Crypto.com for Canadians guide. I hope you enjoyed learning about the Crypto.com App’s Crypto Wallets, Crypto Earn, the CRO token, Supercharger, and the signup bonus available to you. Check back soon for future parts of this guide and feel free to email me if you have any questions.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

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Bitcoin Ethereum Litecoin Newton Product Reviews

2021 Newton Review: Easy, No-Fee Canadian Cryptocurrency App

Find out why we think Newton is a top choice for buying and selling Bitcoin, Ethereum, Litecoin, and more.

Newton is a Canadian cryptocurrency application that offers some of the lowest spread fees in the industry. For this alone, it would make a great option for your cryptocurrency investing. Further, it’s a beautifully-designed app that’s easy to navigate and comes with a good selection of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and more.

Read on to find out more about Newton’s features, fees, and more – and to see how it scores in our 2021 Newton Review.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

Jump down to read a specific part of our 2021 Newton Review:

Newton’s Features

Newton’s Fees

Newton’s Rewards

Newton’s User Experience

Overall Results

Believe me already? Sign up for Newton today using my referral link and invest $100 CAD into cryptocurrency to get a $25 signup bonus. Here’s the link:

https://web.newton.co/r/JF6UWQ

Newton Features

Supported Coins

Newton gives it’s users the option to invest in seven cryptocurrencies and three stable coins. After funding your account with Canadian dollars, you can use Newton to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), Bitcoin Cash (BCH), Ripple (XRP), Monero (XMR), USD Coin (USDC), Tether (USDT), and the Canadian dollar stable coin QCAD.

This is a great selection for newer cryptocurrency investors, as it includes many of the high market cap coins, but doesn’t offer too many alt-coins to pick and choose from. You could easily use Newton to make a balanced portfolio that covers a good variety of coins.

Buying and Selling Crypto

At the time of writing, Newton offers only one order type on its app, that being simple market orders. This means users need to actively track coin prices and place orders when prices meet their desired transaction thresholds. It’s worth noting that Newton also has their Newton Pro version, which is available through an API. This is a more advanced trading platform with features not available in their app or web portal. This review won’t be taking into account any of the features of Newton Pro.

Deposits and Withdrawals

The best and easiest way to deposit Canadian dollars into Newton is through their Interac E-Transfer function. This deposit method is completely free and is usually very quick to process. Unlike some other apps I’ve tried, Newton processes the E-Transfer as a request of funds (rather than a transfer you start through your bank account). Once you’ve requested your transfer in the Newton App, you will get an email asking to confirm the transfer, which you will follow through to your bank to complete the transaction. Personally, I like this method better, as you don’t have to worry about having the right settings in your E-Transfer contact. Newton also offers wire transfers and crypto deposits, both free of charge.

To withdraw funds in Canadian dollars from Newton, you can use an E-Transfer or a bank transfer, both without any fees. If you already have cryptocurrency in your Newton wallet, you can also withdraw it to another wallet address. Newton covers the fees for most of these transactions, but we’ll outline their crypto withdrawal fee policy in the next section.

Features Score: 8/10

Newton Fees

Transaction Fees

Newton has zero fees for trading cryptocurrencies. As well, depositing and withdrawing Canadian dollars or receiving cryptocurrency transfers have no fees.

Recently, in response to increased network congestion for certain cryptocurrencies, Newton created a new policy for crypto withdrawal fees. Newton will cover up to $5 per transfer out for any of their supported coins. In most situations, this means the transfer out would be free to the user. However, sometimes network fees go above this due to the amount of activity going on at the time. Newton has implemented a flagging system (similar to “surge pricing” for Uber) where it will let users know that a transaction may exceed their $5 limit, meaning a user would have to cover the remainder.

Spread Fees

Now you might be thinking, this seems too good to be true. How can Newton maintain a sustainable application if they don’t charge any fees for transaction? As I outlined in a previous article comparing Newton to their competitor Shakepay, Newton earns revenue based off of price spreads. In a nut shell, this means that the price you would pay to buy Bitcoin at Newton is higher than both the current market price and the price you could then sell it. A spread-based model is better for users that wish to make more smaller transactions, rather than fewer larger transactions. Those users would benefit from a flat transaction fee.

Using Bitcoin as an example, at a market BTC/CAD price of $56,953 (at the time of writing) Newton users can buy Bitcoin at $57,268 and sell it back for $56,578. This means that Newton offers a 0.55% spread on buying Bitcoin and a 0.66% spread on selling. So, if you invested $100 CAD, you would get $99.45 CAD of Bitcoin. If you then instantly sold it before the price changes, you would get $98.79 CAD back. This yields an overall total spread of 1.21%.

Of all the Canadian cryptocurrency apps I’ve tried, Newton has the thinnest price spreads without charging a transaction fee. This makes Newton an excellent option for those looking to make small transactions.

Fees Score: 9.5/10

Newton Rewards

Newton Referral Signup Bonus

Newton has a pretty great signup bonus to users that are referred into the app. If you sign up using my referral link (below), deposit $100 CAD or more, and but at least $100 of cryptocurrency, you will receive $25 from Newton. The best part about their referral system is that they pay the bonus to both the new user and the one who referred them. So, by using my link, you’re supporting me for writing this review, at no cost to you. As well, this means that once you’ve signed up you can start referring your friends and earning even more!

Here’s my referral link:

https://web.newton.co/r/JF6UWQ

If you run into any issues receiving your bonus (it usually arrives on the business day after you complete your $100 investment) then keep this code handy JF6UWQ. You can send that to Newton’s customer support team and they will apply the referral to your account.

Although Newton’s signup bonus isn’t quite as high as Shakepay (which I outlined in my 2021 Shakepay Review) it’s still more than double what most apps give to new users.

Rewards Score: 7.5/10

Newton User Experience

It may just be my own personal design tastes, but I think Newton has one of the best looking cryptocurrency apps out there. As well, it’s really simple and easy to use for new and experienced cryptocurrency investors alike.

Another positive of Newton is how easy their signup process is. I was able to get signed up and approved in the app very quickly and start investing right away. And, as I mentioned above, I really like the flow of their Interac E-Transfer funding where you start the transaction in the Newton App.

I have read some experiences of other users that ran into issues funding their account with Newton, with some citing long delays. I’m not sure if they were using different funding methods or just trying during congested periods, but I personally haven’t experienced this. As well, I haven’t had cause to submit a support ticket to Newton, but they seem to have a fairly active customer service department that is willing to tackle issues for their users.

User Experience Score: 9/10

Overall Results

Putting everything together, here’s how my scoring for Newton turned out:

Features: 8/10

Fees: 9.5/10

Rewards: 7.5/10

User Experience: 9/10

Overall: 34/40

This means Newton gets an overall score of 34/40. Their no-fee model and very thin price spreads make them a top choice for making smaller more frequent transactions. As well, they have a great selection of cryptocurrencies and a beautifully designed easy-to-use app that new and experienced users will love. They could increase their score by adding more order types and more opportunities for rewards.

If you’re ready to get started with Newton today, sign up using my Newton Referral Link to earn $25 once you invest $100.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

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Bitcoin Ethereum Product Reviews Shakepay

2021 Shakepay Review: Download Today & Start Shaking

Find out why we think every Canadian Cryptocurrency investor needs to use Shakepay

On the surface, Shakepay may not seem like an essential cryptocurrency application for Canadians. But, diving deeper into the platform will show you that every Canadian should add Shakepay to their crypto app lineup. Not only does Shakepay have a clean user interface, easy-to-use platform, and great referral bonus, it also gives users FREE Bitcoin rewards every single day.

Although experienced crypto investors will see some drawbacks in only using Shakepay without any other apps, I’m confident that you’ll want to download it today after reading our 2021 Shakepay review. As well, Shakepay is one of the best and easiest apps to use for those new to Bitcoin. Scroll down to read all about Shakepay’s features, fees, rewards, and more. Let’s get into it!

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

Note: This review was updated on April 17, 2021 to include Shakepay’s new reward schedule and signup bonus.

Jump down to read a specific part of our 2021 Shakepay Review:

Shakepay Features

Shakepay Fees

Shakepay Rewards

Shakepay User Experience

Overall Results

Believe me already? Sign up for Shakepay today using my referral link and invest $100 CAD into cryptocurrency to get a $10 signup bonus AND access to their daily rewards program. Here’s the link:

https://shakepay.me/r/3RGW80L

Shakepay Features

Supported Coins

After funding your Shakepay account with Canadian dollars, you can use Shakepay to buy and sell Bitcoin and Ethereum. Having only these two options makes Shakepay an ideal choice for new cryptocurrency users, as it’s easy to get lost in the alt-coin shuffle! More experienced traders, on the other hand, may find its selection a bit limited.

Buying and Selling Crypto

Shakepay offers several order types for buying and selling cryptocurrencies. My experience with their standard market orders are that they are fulfilled quickly (even instantly!). As well, their order process is quite easy to use. Shakepay also offers limit orders. This allows you to set up as many limit buy and sell orders for Bitcoin or Ethereum as you’d like. You can have multiple orders pending at once and it doesn’t tie up your funds, should you wish to use them in other order types. When the price of Bitcoin or Ethereum hits your limit target, the order will execute, as long as you have enough funds in your CAD account to fulfil it.

A newer feature of Shakepay is their recurring buy order. This allows you to set a daily, weekly, or monthly order for Bitcoin or Ethereum. This is an awesome feature if you want to take a dollar-cost averaging strategy with cryptocurrency investing. This kind of strategy helps to neutralize cryptocurrency price fluctuations and allows you to take a more passive approach to investing.

Deposits, Withdrawals, and Transfers

To deposit funds into Shakepay, you can use an Interac E-Transfer, link a bank account to accept wire transfers, or deposit Bitcoin or Ethereum directly using a wallet address. All of these options are completely free to use! Personally I’ve used an E-Transfer every time I’ve funded my Shakepay account and they’ve always come through quickly without an issue.

Similar to depositing, you can withdraw funds from Shakepay in CAD through an Interac E-Transfer or Wire Transfer. You can also send Bitcoin and Ethereum to a wallet address. Once again, Shakepay doesn’t charge a fee for any of these transactions!

Shakepay also has an internal ecosystem for sending and receiving both CAD and cryptocurrency. Using your “Shaketag” (you’ll set this up when you open your account) you can send and receive funds with other Shakepay users. If you’re familiar with the Cash App or Venmo in the United States, this is a very similar feature to what they offer.

Features Score: 8/10

Shakepay Fees

Transaction Fees

As I mentioned above, Shakepay has no fees for deposits, withdrawals, or transfers – for both Canadian dollars and their supported cryptocurrencies. As well, Shakepay has no transaction fees for any of their order types, buying and selling!

Spread Fees

Now you might be thinking, this seems too good to be true. How can Shakepay maintain a sustainable application if they don’t charge any fees? As we outlined in a previous article comparing Shakepay to their competitor Newton, Shakepay earns revenue based off of price spreads. In a nut shell, this means that the price you would pay to buy Bitcoin at Shakepay is higher than both the current market price and the price you could then sell it. A spread-based model is better for users that wish to make more smaller transactions, rather than fewer larger transactions. Those users would benefit from a flat transaction fee.

Using Bitcoin as an example, at a market BTC/CAD price of $56,953 (at the time of writing) Shakepay users can buy Bitcoin at $57,663 and sell it back for $56,196. This means that Shakepay offers a 1.25% spread on buying Bitcoin and a 1.33% spread on selling. So, if you invested $100 CAD, you would get $98.75 CAD of Bitcoin. If you then instantly sold it before the price changes, you would get $97.44 CAD back. This yields an overall total spread of 2.58%.

Although these spread fees are higher than some of their competitors, they more than make up for it with the rewards you can earn for signing up with Shakepay.

Fees Score: 8/10

Shakepay Rewards

Shakepay really performs well in terms of rewards. They have a great signup bonus that is comparable to other Canadian cryptocurrency apps and an awesome daily rewards system that is unlike anything else out there!

Shakepay Referral Signup Bonus

Shakepay is offering new users who signup through our referral link a $10 bonus once they’ve invested $100 in Bitcoin or Ethereum. The best part about their referral system is that they pay the bonus to both the new user and the one who referred them. So, by using my link, you’re supporting me for writing this review, at no cost to you. As well, this means that once you’ve signed up you can start referring your friends and earning even more! Here’s my referral link again:

https://shakepay.me/r/3RGW80L

If you run into any issues receiving your bonus (it usually arrives on the business day after you complete your $100 investment) then keep this code handy: 3RGW80L. You can send that to Shakepay’s customer support team and they will apply the referral to your account.

Looking for a larger signup bonus? Check out our 2021 review of Newton, another Canadian cryptocurrency app that gives new users $25 when they sign up with $100.

Shakepay Daily Bitcoin Rewards

Now, by far the best part about Shakepay is their daily Bitcoin rewards program, referred to as “Shaking Sats”. How #ShakingSats works is once per day, while in the Shakepay app, you literally shake your phone (I kid you not) and they give you a small amount of Bitcoin

Note: Sats refers to Satoshis, the unit that makes up a fractional amount of Bitcoin, they’re the cents to Bitcoin’s dollar, but at a much smaller scale

Every day that you keep this streak going, the amount they give you increases, up to a maximum amount for a 201-day streak. Keep the streak going beyond that and you get the max amount every day!

If you’re interested, you can check out Shakepay’s full Shaking Sats Reward Schedule here.

I did the math on keeping a Shaking Sats streak going for a year. Based on a 365-day streak, you would earn 0.00434 BTC, which is worth $341.44 at today’s BTC/CAD price of $75,215.47. Even better, if you managed to get a year-long streak at the 201-day maximized reward, then you would get 0.00548 BTC, which is worth $411.80! It’s pretty incredible that Shakepay offers these rewards to their users and they more than make up for their higher price spreads than other apps.

Important Note: You can only access the Shaking Sats daily Bitcoin rewards if you have either referred a friend to Shakepay OR signed up through a referral link. Here’s mine as a reminder so you can get shaking today:

https://shakepay.me/r/3RGW80L

Rewards Score: 9/10

Shakepay User Experience

Another great aspect of Shakepay is their overall user experience. In comparison to other Canadian cryptocurrency apps, the Shakepay signup process is one of the fastest and easiest out there. I was able to download the app, walk through the onboarding, and get verified in a matter of minutes. As well, I’ve never had any issues funding my account quickly.

Shakepay’s app is also really well designed. Its simplicity is what makes it so accessible to new and experienced users alike. As well, in my whole time using Shakepay, I’ve never experienced any app crashes or bugs. Plus, the fun extras like Shaking Sats will keep you coming back to it everyday.

I’d also like to shout out the Shakepay customer service team. They are usually very quick to respond and a pleasure to deal with!

User Experience Score: 10/10

Overall Results

Putting everything together, here’s how my scoring for Shakepay turned out:

Features: 8/10

Fees: 8/10

Rewards: 9/10

User Experience: 10/10

Overall: 35/40

This means that they get an overall score of 35/40. Like I said earlier, even if you have other cryptocurrency apps already – or are looking for an app with more coin options – Shakepay deserves a spot in your lineup. You won’t find another Canadian cryptocurrency app that gives you daily Bitcoin rewards – especially one that only requires you to shake your phone!

If you’re ready to get started on your Shake Streak and start earning FREE Bitcoin (plus a nice $10 bonus to start) sign up with our Shakepay Referral link today.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

Categories
Dogecoin Product Reviews

3 Ways to Buy Dogecoin in Canada

We review some of the options for purchasing everyone’s favourite meme-coin: Dogecoin.

Disclaimer: This article is not providing any investment advice or recommendations. We are simply overviewing several platforms you can use to buy Dogecoin in Canada, not encouraging you to do so. Dogecoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

With everyone from Redditors to celebrities to the richest person in the world hyping up Dogecoin, we thought it best to outline three applications that allow for Dogecoin purchasing in Canada. Just to reiterate the disclaimer from above, we are not advocating for investing in Dogecoin, we’re simply giving you some options if you want to jump on this bandwagon. We leave it fully up to you to decide whether it’s going to the moon or crashing down after the hype cycle passes.

What is Dogecoin?

Before diving into the options for purchasing, it’s important to know a bit about Dogecoin’s history. Dogecoin began as a fork of Litecoin in 2013. It was intended to be a joke currency, that uses the popular Shiba Inu Doge meme as its mascot. At the time of writing it has a market capitalization of just over $13.5B CAD and a circulating supply of almost 130B Dogecoins, giving it a current price of $0.105 CAD per Dogecoin. It’s important to note that the total supply of Dogecoin isn’t fixed, so the circulating supply could continue to rise infinitely, as long as there are miners willing to devote their work towards it.

Why is everyone talking about Dogecoin? What’s the hype?

After the market instability and overall hype around Wall Street Bets meme stocks, it was pretty natural for people to transition into crypto. Satoshi Street Bets (r/satoshistreetbets) was soon born to create a similar environment around crypto trading. Dogecoin quickly became the “currency of the people.” Everything that contributed to its former joke-coin status was seen as a positive in its current role as a meme coin and overall mascot for the movement.

After retail traders pushed the Dogecoin price beyond previous highs, celebrities began to join the hype train – the first and most notable being Elon Musk. By tweeting out support for Dogecoin and the movement it represents, the price skyrocketed to almost 10 cents two weeks ago. Now after a more tweets from Elon, increased retail interest, and more celebrities like Gene Simmons and Snoop Dog hopping on board, Dogecoin has reached a new all time high. Where it goes from here is anybody’s guess!

Where can I buy Dogecoin in Canada?

Now that you know a bit more about Dogecoin, you may have decided you’d like to purchase some (again, we’re not advising this nor providing any financial advice). So what are your options for buying Dogecoin in Canada? Unfortunately, the majority of Canadian exchanges don’t carry Dogecoin. Some of our favourites (that we previously discussed here) don’t have it in their crypto offerings.

That being said there are several options for buying Dogecoin in Canada, and we’ll outline them below. As always, if you sign up with our referral links, you’re not only unlocking these bonuses for yourself, but also supporting us! We truly thank anyone who decides to use our links to register.

Canadian Cryptocurrency Exchanges that Sell Dogecoin:

Option 1: NDAX → Register for NDAX and get $10 after depositing $100

Our favourite option for buying Dogecoin in Canada is NDAX. They offer 11 cryptocurrencies, including Dogecoin. They have a robust trading platform on their web platform and also iOS and Android apps. We recommend using the web interface for NDAX as it comes with all features. Another plus for NDAX is their trading fee is only 0.2%, quite a reasonable fee for buying Dogecoin or other cryptocurrencies!

The signup process for NDAX is quite quick and easy. I got my account set up and approved in less than 30 minutes, and their E-Transfer deposit acceptance was one of the fastest I’ve experienced.

NDAX has a signup bonus of $10 for anyone who signs up with our referral link, completes their account registration, and deposits $100 CAD. Sign up here: https://one.ndax.io/bfQfJm

Option 2: Coinsquare → Register for Coinsquare and get $10 in BTC after depositing $100

Another Canadian exchange option for buying Dogecoin is Coinsquare. In the 2017 bull market, Coinsquare was probably the most popular Canadian exchange. Though the market is now more competitive, Coinsquare is still a good option for buying Dogecoin (or any of their other 10 cryptocurrencies) in Canada.

Like NDAX, Coinsquare is a much better experience on their web portal. I find their iOS app to be a little buggy and sometimes very slow. But, on the web, I was able to quickly fund my account and purchase Dogecoin!

Coinsquare has a signup bonus of $10 in BTC for anyone who signs up with our referral link, completes their account registration, and deposits $100 CAD. Sign up here: coinsquare.com/register?r=iAUEi

International Exchanges Available to Canadians that Sell Dogecoin

There are many international exchange options for buying Dogecoin in Canada. We won’t outline all of them, but here’s our favourite:

Option 3: Crypto.com → Register for Crypto.com and get $25 USD in CRO after staking for a CRO VISA Card

Crypto.com offers a wide variety of crypto tokens and investment products. These range from interest-bearing crypto term certificates, to farming new tokens, to a Crypto-rewards pre-paid credit card. They recently added Dogecoin to their coin lineup.

Although Crypto.com’s large lineup of products can be a bit intimidating for new users, overall I’ve found their offerings to be quite user friendly. I think crypto.com makes a great option for anyone looking for a more in-depth cryptocurrency experience.

Crypto.com’s signup bonus works differently than the other options on this list (but comes with the highest payout). To unlock your $25 USD bonus of their in-house token CRO, you need to signup with our link below and complete the registration for one of their metal VISA cards, which includes staking some of the CRO token for 180 days (the amount varies depending on which card you wish to receive). Note: the bonus will be credited to your account as soon as you complete the card registration, you don’t need to wait the 180 days to receive it.

Signup here and complete their metal VISA card registration to get $25 USD of CRO: https://crypto.com/app/7w6ccuwwfe

BONUS: Crypto.com is currently running a Dogecoin contest. The first 400 new users to complete the following three steps, win $50 USD worth of DOGE.

1) Sign up for the Crypto.com App between February 8, 2021 & February 28, 2021

2) Trade at least $100 USD worth of Dogecoin

3) Stake CRO to reserve a CRO Visa Card (Ruby Steel tier or above). This is also the tier that will unlock your signup bonus for using our referral link: https://crypto.com/app/7w6ccuwwfe

Conclusion: Buying Dogecoin in Canada

Now that you’ve seen a few options for buying Dogecoin in Canada, it’s up to you to decide whether you’d like to get some. Head over to NDAX, Coinsquare, or Crypto.com to start your Dogecoin journey. Hopefully we’re all headed to the moon!

Disclaimer: This article is not providing any investment advice or recommendations. We are simply overviewing several platforms for purchasing Dogecoin, not encouraging you to do so. Dogecoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

Categories
Bitcoin Newton Product Reviews Shakepay

Shakepay vs. Newton: Which Canadian Bitcoin App should you use?

We compare the costs and rewards of two of the top spread-based apps for buying bitcoin in Canada.

Disclaimer: This article is not providing any investment advice or recommendations. We are simply comparing platforms for investing in bitcoin, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.


Update 2 (April 17, 2021): Updated to reflect Shakepay’s new daily reward schedule and signup bonus, as well as more recent bitcoin prices.

Update (February 3, 2021): Updated to reflect Shakepay’s new reward schedule & more recent bitcoin prices.

Note: I originally wrote this article on December 27, 2020. If you had followed the bitcoin purchase schedule below at that time, your $200 CAD invested into bitcoin would now be worth $581.16 on Shakepay and $562.33 on Newton (including signup bonuses and rewards, using today’s BTC price of $75,215.47 CAD). If you kept up with your daily Shakepay rewards as well, you would now have an additional $114.88 worth of bitcoin! Sign up now with both apps at the following links to get your referral bonuses and start investing in bitcoin:

Shakepay ($10 bonus after investing $100): https://shakepay.me/r/3RGW80L (Code: 3RGW80L)

Newton ($25 bonus after investing $100): web.newton.co/r/JF6UWQ (Code: JF6UWQ)

Now, enjoy the original comparative analysis:


With bitcoin breaking records multiple times this month, many Canadians are wondering which app to use to buy bitcoin? Today, I’ll provide a comparison of two of the most popular Canadian cryptocurrency apps: Shakepay and Newton. Both use a spread-based model for their fees, so I’ll include calculations on which platform gives more value for your hard-earned dollars.

Wait, what’s a bitcoin spread?

There are a lot of options out there for buying cryptocurrencies in Canada, so one way to narrow down your choices is to look at how the companies charge their fees. There isn’t an option that is truly free to buy bitcoin at the market price, as these are all companies that need to generate revenue. From a quick scan of Canadian options, there are two main models for fees: spread-based and fee-based.

Fee-based apps charge either a flat fee (sometimes called maker/taker fees) or a percentage fee for every transaction. A flat-fee model is more appealing for large transactions, as the price you pay doesn’t scale with your investment. But, today I’m going to use small amounts in my calculations (which will likely be similar to first-time bitcoin investors). Smaller amounts make spread-based fees more appealing.

The quoted spread on a cryptocurrency (like bitcoin) is the range above the market price that you would pay to buy and the range below the market price you would receive to sell. This way the company earns a bit off of each transaction to offset their internal costs for offering this service and generate some revenue, so their company can grow! Both Shakepay and Newton use a spread-based fee structure, so this is what I’ll be focusing on today.

Shakepay vs. Newton: Overview

Before I dive into how much bitcoin you will get for using Shakepay or Newton, I’ll overview what factors I’ll be comparing the platforms on.

Comparison Factors

  1. Referral Bonuses: Each platform offers a signup bonus if you were referred from an existing client. I’ll compare each referral offer and provide you with referral links and codes so you can earn the bonus for yourself! Note: Both platforms have a holiday offer on right now with a larger bonus. Scroll down to the referral section and take advantage of these offers before they go away!
  2. Spread Price: Which platform will give you more bitcoin for the same amount of money? And should you want to sell the bitcoin back for Canadian dollars, which will net you more afterwards.
  3. Other App Features & Benefits: Do the apps offer other cryptocurrencies beside bitcoin? Any interesting features? Are there other ways to earn beyond just investing?
  4. Scenario Analysis: We compare both apps in a short-term bitcoin investment scenario. See which app yields more bitcoin.

Don’t want to read through everything? Skip ahead to the verdict to find out which app is our choice for buying bitcoin in Canada.

Signup Process and Funding Options

Before I get into the comparison, I thought I should write a quick overview of the signup process and funding options for each platform. I will say that I encountered no issues signing up and funding either app. I found both processes to be quick and without error. Scanning online for other people’s experiences does lead me to believe that Shakepay has an easier signup process across the board. I saw a few negative comments about Newton’s process citing some issues that I didn’t encounter.

For funding options, both companies have Interac E-Transfers as an option. For Newton, this process is initiated from within the app, meaning that it requests a transfer from your bank that you have to approve. Shakepay, on the other hand, gives you an email address, security question, and answer to use for a transfer that you initiate with your bank. I’ve funded both platforms multiple times with e-transfers and haven’t run into any issues yet.


Referral Bonuses

Both Shakepay and Newton offer a referral reward for new users. The terms of each are very similar. To earn the reward, you need to signup using a referral link (below) and/or use a referral code (also below) during your signup process. Then, after investing your first $100 CAD in one of their available cryptocurrencies, you get either $25 for Newton or $10 for Shakepay. The best part is, they give this bonus both to the new client and the one who referred you. So if you choose to sign up for either app using my code, you’d be supporting me for putting together this article at no cost to you! Then, afterwards you can start referring your friends using your code and get even more free money to invest in cryptocurrencies!

Here are the links you can use to get each bonus:

Newton

To get a free $25 use this link to signup for Newton and invest $100 CAD in any cryptocurrency.

web.newton.co/r/JF6UWQ

Make sure during the signup process it shows this code JF6UWQ as who referred you. Keep that code handy in case there are any issues during your signup. You can message it to support afterwards if your bonus doesn’t come through.

Shakepay

To get a free $10 (and access another feature that I’ll outline below) use this link to signup for Shakepay and invest $100 CAD in bitcoin or ethereum.

https://shakepay.me/r/3RGW80L

Make sure during the signup process it shows this code: 3RGW80L as who referred you. Keep that code handy in case there are any issues during your signup. You can message it to support afterwards if your bonus doesn’t come through.

So, which company has the better referral program? Newton’s bonus is higher, so it wins here, but if you don’t mind using multiple platforms, have $200 available, and are interested in putting it into crypto, why not sign up with both? $35 is better than either $25 or $10 in my mind!


Bitcoin Spread Price

For both companies, there are two aspects to the spread, the buy and sell spread. To give a simple example to show this, I’m going to assume you are investing the $100 mentioned above in each platform and then instantly selling it before the price of Bitcoin changes. Obviously this isn’t realistic as the price of Bitcoin fluctuates constantly and there would be no reason to do that, other than an instant wave of regret! Here’s hoping you don’t feel that as you start your cryptocurrency journey!

Shakepay

At the time of writing (December 27, 2020), the market price for bitcoin in CAD was $33,718.14. On Shakepay, the buy and sell prices at the same time were $34,138.86 and $33,270.37, respectively. This means that Shakepay offers a 1.25% spread on buying Bitcoin and a 1.33% spread on selling. So, for your initial $100 CAD, you would get $98.75 CAD of Bitcoin. When you then instantly sell it, you would get $97.44 CAD back. This yields an overall total spread of 2.58%.

Newton

Once again, at the time of writing, the market price for bitcoin in CAD was $33,718.14. On Newton, the buy and sell prices at the same time were $33,904.50 and $33,496.40, respectively. This means that Newton offers a 0.55% spread on buying Bitcoin and a 0.66% spread on selling. So, for your initial $100 CAD, you would get $99.45 CAD of Bitcoin. When you then instantly sell it, you would get $98.79 CAD back. This yields an overall total spread of 1.21%.

Comparison

Obviously in both cases it makes no sense to buy and sell this quickly. But, comparing the two total spreads gives Newton the edge. After I go over some quick notes on other features of each app, I’ll do some deeper calculations to show you how these spreads play out over a longer horizon.


Other Features & Benefits

Both Newton and Shakepay have other features that make them appealing apps to use. Shakepay is useful for sending and receiving both cryptocurrencies they offer (Bitcoin and Ethereum) as well as Canadian dollars. I’ve used Shakepay as a way to quickly pay back my friends who are also users. They also offer more options for buying than Newton. On Shakepay you can set a limit price for your order and even set up a regular recurring buy.

Newton, on the other hand, offers a wider array of cryptocurrencies (10 currently), including several USD and CAD stablecoins. This makes them more robust of an exchange and allows users to diversify their portfolio further than in Shakepay.

But, Shakepay takes the cake for the strangest (and most addictive) feature. Any user than has either been referred or referred another user, gets access to #ShakingSats. Having stupidly signed up for Shakepay without being referred by anyone, I only discovered this feature after seeing how many users are tweeting Shakepay about it. But once I got that first referral, I have to say I’m hooked. Don’t make the mistake I did and start using the app without it!

(Here’s my referral link/code as a reminder: https://shakepay.me/r/3RGW80L Code: 3RGW80L)

How #ShakingSats works is once per day, while in the Shakepay app, you literally shake your phone (I kid you not) and they give you a small amount of Bitcoin (Note: Sats refers to Satoshis, the unit that makes up a fractional amount of Bitcoin, they’re the cents to Bitcoin’s dollar, but at a much smaller scale). Every day that you keep this streak going, the amount they give you increases, up to a maximum amount for a 201-day streak. Keep the streak going beyond that and you get the max amount every day!

How much bitcoin do you get for #ShakingSats?

Shakepay published a #ShakingSats reward schedule here. The rewards are quoted and distributed in Satoshis (Bitcoin) so their value fluctuates with the price of Bitcoin. At the time of writing (February 3, 2021 bitcoin price: $75,215.47 CAD), the initial 1-day streak reward is worth $0.11 CAD, which isn’t much. But, get to the maximized 201-day streak and your reward is worth $1.13 CAD every day! Getting that daily adds up, so I’m definitely going to include it in the calculations below.


Scenario Analysis: Which app yields more bitcoin?

To determine whether Shakepay or Newton yields more value for investing in bitcoin in Canada, I’m going to set up a quick scenario. In it, I’m going to use a dollar-cost averaging strategy to invest beyond the initial deposit and rewards. This means investing the same dollar amount at regular intervals over time (i.e. $10 a day, $100 a month, etc). Again, not giving investment advice here, but dollar-cost averaging is a strategy that tends to shield investors from fluctuating asset prices. It’s essentially the opposite of “playing the market.”

Scenario: Ten Days of Investing in Bitcoin

I’m going to hop in my time machine and go back 11 days from today to start investing in bitcoin with both Shakepay and Newton. For both apps, I’ll assume I get approved right away, fund my account instantly and put that entire amount into Bitcoin (to get my referral bonus). I’ll also assume the referral bonus arrives the day after I sign up. For each day after the first, I’ll invest $10 in Bitcoin until we make ten daily purchases. This means total, I’ll have invested $200 for in each app.

Newton

Here is a table that outlines what this process yields at Newton:

DateBTC/CADInvestment
(CAD)
Spread Fee
(CAD)
BTC
Purchased
Account Value
(BTC)
Account Value
(CAD)
Apr-07$72,936.70$100$0.550.001363470.00136347$99.45
Apr-08$70,585.32$35$0.190.000493110.00185659$131.05
Apr-09$72,894.05$10$0.060.000136430.00199301$145.28
Apr-10$72,792.06$10$0.060.000136620.00212963$155.02
Apr-11$74,899.60$10$0.060.000132770.00226241$169.45
Apr-12$75,234.61$10$0.060.000132180.00239459$180.16
Apr-13$79,723.39$10$0.060.000124740.00251933$200.85
Apr-14$78,402.74$10$0.060.000126840.00264617$207.47
Apr-15$79,333.98$10$0.060.000125350.00277152$219.88
Apr-16$76,818.09$10$0.060.000129460.00290098$222.85
Apr-17$75,215.47$10$0.060.000132220.00303320$228.14
Figure 1: Bitcoin investment scenario for Newton. Daily BTC/CAD prices are from Google.

So, for Newton, at the end of the experiment, I have $228.14, which I could sell at their 0.66% spread for $226.64. This means a profit of $26.64 over my $200 investment through the course of the experiment by using Newton to buy bitcoin.

Shakepay

Here is a table that outlines what this process yields at Shakepay (Note: The the table is slightly more complex, because of the addition of the daily #ShakingSats rewards):

DateBTC/CADInvestment
(CAD)
Spread Fee
(CAD)
BTC
Purchased
Shaking Sats
Reward (BTC)
Account Value
(BTC)
Account Value
(CAD)
Apr-07$72,936.70$100$1.250.001353940.00000150.00135544$98.86
Apr-08$70,585.32$20$0.250.000279810.00000170.00163695$115.54
Apr-09$72,894.05$10$0.120.000135470.00000180.00177423$129.33
Apr-10$72,792.06$10$0.120.000135660.00000200.00191189$139.17
Apr-11$74,899.60$10$0.120.000131850.00000210.00204584$153.23
Apr-12$75,234.61$10$0.120.000131260.00000230.00217940$163.97
Apr-13$79,723.39$10$0.120.000123870.00000240.00230566$183.82
Apr-14$78,402.74$10$0.120.000125960.00000260.00243422$190.85
Apr-15$79,333.98$10$0.120.000124480.00000270.00256140$203.21
Apr-16$76,818.09$10$0.120.000128550.00000280.00269275$206.85
Apr-17$75,215.47$10$0.120.000131290.00000300.00282704$212.64
Figure 2: Bitcoin investment scenario for Shakepay. Daily BTC/CAD prices are from Google.

So, for Shakepay, at the end of the experiment, I have $212.64, which I could sell at their 1.33% spread for $209.81. This means a profit of $9.81 over my $200 investment through the course of the experiment by using Shakepay to buy bitcoin.

Comparison

Figure 3 below charts the result of investing in each app over the course of the experiment.

A graph comparing the ten-day investment scenarios of buying bitcoin with Newton and Shakepay.
Figure 3: Bitcoin Investment: Newton vs. Shakepay (account values in CAD)

Here, Newton comes out on top, but it’s pretty close! Using Newton earns an extra $15.51 over ten days. But, what’s important to consider here is how valuable the #ShakingSats rewards get over time. Regardless of how much I invest daily, weekly, monthly or even yearly, I can add to my bitcoin account value by logging into Shakepay daily and earning their shaking reward.

If I was to keep up the streak for a whole year, I would have amassed a FREE 0.00454 in bitcoin! By today’s price, that’s worth $341.44 CAD. You’d have to have a pretty large savings account balance to rival that for yearly rewards in a traditional bank!


Verdict: Which Canadian Crypto App should you use to buy bitcoin?

Let’s Review:

Better Referral Bonus: Newton

Tighter Spreads: Newton

Other Features: Both have benefits, but Shakepay wins for #ShakingSats

Investment Scenario: Newton

Based on the factors above, the clear winner here is Newton. They have a higher referral reward and their buying and selling prices are better. Plus, if you’re looking to diversify beyond bitcoin and ethereum, they give you more options.

That being said, over time, Shakepay’s #ShakingSats rewards more than make up for their slightly wider spreads. If you’re ok adding a daily shake into your routine, then using Shakepay is a great way to accumulate bitcoin over time without a lot of personal investment.

There are clearly benefits to both apps, and as I said above, it maximizes your rewards to earn the referral bonus on both. I actively use both apps (and a few others that I’ll discuss in future articles) so you definitely can too! Once again to close things out, I’ll remind you of the referral offers:

Sign up with Newton using this link: web.newton.co/r/JF6UWQ, Referral Code: JF6UWQ to get $25 after buying $100 CAD of cryptocurrency.

Sign up with Shakepay using this link: https://shakepay.me/r/3RGW80L, Referral Code: 3RGW80L to get $10 and access to #ShakingSats after buying $100 CAD of cryptocurrency.

Thanks for taking the time to read my article! You can always reach out to me by emailing bitcoinadian@gmail.com.

Disclaimer: This article is not providing any investment advice or recommendations. We are only comparing platforms for investing in bitcoin, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.