Netcoins vs Shakepay: Which Canadian Crypto Exchange Is Better? (Updated 2026)

Disclaimer: This comparison is for educational purposes only and does not constitute financial advice. Cryptocurrency investing involves significant risk, including the potential loss of principal. Always do your own research before choosing a platform or making any investment. Fees, features, and supported assets may change without notice. Information is current as of February 2026.

TL;DR

Netcoins and Shakepay are both reputable, regulated Canadian crypto platforms, but they serve different types of users. Netcoins offers 60+ cryptocurrencies, staking rewards up to 15% APR, and services tailored to more experienced traders and high-net-worth investors. Shakepay focuses almost entirely on Bitcoin and Ethereum, but wraps them in a polished "money app" experience with viral features like ShakingSats, a bitcoin-back Visa card, and bill payments. If you want portfolio diversity and passive income through staking, Netcoins is the stronger choice. If you primarily want Bitcoin, enjoy gamified rewards, and value an all-in-one financial app, Shakepay is hard to beat.

Quick Comparison Summary

Netcoins at a Glance

• Founded: 2014, Vancouver, BC
• Parent company: BIGG Digital Assets (TSXV: BIGG), publicly traded [Source]
• Supported cryptocurrencies: 60+ [Source]
• Fee model: Competitive flat fee structure (approximately 0.5% trading fee) [Source]
• Regulation: FINTRAC registered, CIRO regulated [Source]
• Staking: Yes, up to 15% APR on select assets [Source]
• Users: 250,000+ with $3.5B+ lifetime trading volume [Source]
• Trustpilot: 4.0 stars [Source]

Shakepay at a Glance

• Founded: 2015, Montreal, QC
• Funding: $44M CAD Series A led by QED Investors [Source]
• Supported cryptocurrencies: BTC and ETH only [Source]
• Fee model: No explicit trading fees, revenue from spread (estimated 1.5-3%) [Source]
• Regulation: CIRO regulated (Investment Dealer Member since January 2025) [Source]
• Users: 1.5 million+ across Canada [Source]
• Trustpilot: 4.2 stars / 2,100+ reviews [Source]

Fees and Pricing Compared

Fee structure is one of the most important considerations when choosing a crypto exchange, and Netcoins and Shakepay take fundamentally different approaches.

How Netcoins Charges

Netcoins uses a transparent flat fee model. The standard trading fee is approximately 0.5% per trade, and the platform may also incorporate a spread that varies depending on market conditions and the specific asset, ranging between 0.50% and 1.50% all-in [Source]. Importantly, Netcoins charges zero fees for CAD deposits via Interac e-Transfer, and fiat withdrawals are also free [Source]. This transparency makes it easier to calculate your actual cost per trade upfront.

How Shakepay Charges

Shakepay markets itself as "commission-free," which is technically accurate but can be misleading. The platform does not charge an explicit trading fee. Instead, it generates revenue through the spread applied to buy and sell prices, which is estimated to be between 1.5% and 1.75% per transaction [Source]. Some third-party reviews estimate it can range up to 3% in volatile market conditions [Source]. Like Netcoins, Shakepay does not charge fees for Interac e-Transfer deposits or withdrawals, and crypto withdrawals are free at standard speed, which is a genuinely strong perk since Shakepay covers the blockchain network fees for you [Source].

The Bottom Line on Fees

For most users, Netcoins will be the less expensive option per trade, especially on larger transactions where spread-based pricing adds up. However, Shakepay's free crypto withdrawal policy (covering network gas fees) is a meaningful advantage for users who regularly move their Bitcoin or Ethereum to self-custody wallets. The "best" fee structure depends on your trading habits: frequent traders and larger orders benefit from Netcoins' transparent flat fee, while casual Bitcoin buyers who move to cold storage may appreciate Shakepay's approach.

Supported Cryptocurrencies

This is arguably the single biggest difference between the two platforms.

Netcoins: 60+ Cryptocurrencies

Netcoins supports over 60 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Cosmos (ATOM), Cardano (ADA), Dogecoin (DOGE), and many others [Source]. The platform covers 14 of the top 30 cryptocurrencies by market cap [Source] and continues to add new assets over time. This variety allows investors to build a diversified crypto portfolio entirely within a single Canadian platform.

Shakepay: Bitcoin and Ethereum Only

Shakepay supports only BTC and ETH for trading [Source]. You can also receive USDC deposits, but those are automatically converted to USD at a 1:1 rate in your account [Source]. This extremely limited selection is an intentional design decision - Shakepay has positioned itself as a "Money App" focused primarily on Bitcoin, rather than trying to be a full-service altcoin exchange.

Why This Matters

If you only want exposure to Bitcoin and Ethereum, Shakepay's limited selection is not a drawback. But if you want to invest in altcoins like SOL, DOT, ATOM, ADA, DOGE, MATIC, or any of the dozens of other popular projects, Netcoins is your only option between these two platforms. For many Canadian crypto investors, this single difference is enough to drive their decision.

Funding Methods

Both platforms offer convenient Canadian funding methods, though the specifics differ.

Netcoins Funding Options

• Interac e-Transfer (instant, free) [Source]
• Wire transfer
• Bank draft
• Credit card
• EFT (Electronic Fund Transfer)

Shakepay Funding Options

• Interac e-Transfer (free) [Source]
• Wire transfer (free)
• Direct deposit
• Crypto deposits (BTC, ETH, USDC)

Both platforms offer free Interac e-Transfer deposits. Shakepay's direct deposit feature lets users route their paycheque directly into the app [Source], while Netcoins offers credit card funding that Shakepay does not.

Security and Insurance

Security is non-negotiable when choosing a crypto platform. Both exchanges take it seriously, though their approaches and disclosures differ.

Netcoins Security

Netcoins stores the majority of client crypto assets in cold storage and uses institutional-grade custody through BitGo, a trusted custodian that has been securing digital assets since 2013 [Source]. The platform also leverages Fireblocks infrastructure for secure asset transfers. BitGo carries its own SOC 1 Type II and SOC 2 Type II certifications [Source]. Netcoins itself achieved SOC 2 Type 1 certification in September 2025, demonstrating a commitment to independently audited security controls. As a subsidiary of publicly traded BIGG Digital Assets, Netcoins is also subject to public company audit and disclosure requirements [Source].

Shakepay Security

Shakepay uses industry-standard security practices, including two-factor authentication and cold storage for the majority of crypto assets. However, Shakepay does not publicly disclose the exact percentage of assets held in cold storage or name its specific custody provider(s) in the same detail that Netcoins does. What Shakepay does offer, as a CIRO Investment Dealer Member, is Canadian Investor Protection Fund (CIPF) coverage of up to $1,000,000 per customer for cash balances [Source]. This is significant. However, it is important to note that CIPF coverage applies only to cash holdings, not cryptocurrency assets [Source].

Key Difference

Netcoins provides greater transparency around its custody infrastructure (BitGo, Fireblocks, SOC 2), while Shakepay offers CIPF protection for cash balances up to $1M as a result of its CIRO investment dealer membership. Both approaches have clear merits, and neither platform has experienced a major security breach.

Regulation and Compliance

Both platforms operate within Canada's regulatory framework, which is among the most robust in the world for crypto.

Netcoins: FINTRAC-registered MSB, CIRO-regulated, subsidiary of publicly traded BIGG Digital Assets (TSXV: BIGG) with public company audit standards [Source] [Source]. SOC 2 Type 1 certified (September 2025). Operated under exemptive relief extended through September 2025 [Source].

Shakepay: CIRO Investment Dealer Member since January 2025 (first Quebec-based crypto platform to achieve this) [Source]. Member of Payments Canada (first crypto company to earn this membership) [Source]. CIPF protection for cash balances up to $1,000,000 [Source].

Both platforms are well-regulated. Netcoins adds public company accountability, while Shakepay's Payments Canada membership signals its ambition to operate as a full financial institution.

User Experience and Mobile App

Shakepay's focused approach shines in UX, though Netcoins has made significant improvements.

Netcoins offers a web-based platform and mobile apps for iOS and Android with limit orders, portfolio tracking, and a clean layout. The iOS app holds a 4.8-star rating [CITATION NEEDED: current App Store rating data], and Trustpilot reviews frequently praise easy navigation and fast verification [Source].

Shakepay's mobile-first design is widely regarded as one of the most polished crypto apps in Canada. Buying, selling, sending, bill payments, the Shakepay Card, and ShakingSats all live in one simple interface. Over 1.5 million users have validated the design at scale [Source] [Source].

Verdict: Shakepay has the edge in simplicity and mobile polish. Netcoins offers a more comprehensive platform with web trading and advanced order types. The "better" experience depends on whether you value simplicity or depth.

Customer Support

Customer support quality varies over time, but here is what current data shows.

Netcoins offers email support and a knowledge base. Trustpilot reviews frequently cite responsive customer service [Source]. The smaller user base (250,000+) may contribute to faster response times. Trustpilot score: 4.0 stars.

Shakepay provides in-app and email support. Its 4.2-star Trustpilot score across 2,100+ reviews indicates broadly positive sentiment [Source], though some users report delays around account verification. Shakepay also maintains a strong social media presence, including 350,000+ TikTok followers, which serves as an informal community and education channel.

Neither platform offers live chat or phone support, a gap compared to traditional financial institutions.

Staking and Earning Features

This is another area where the two platforms differ significantly.

Netcoins Staking

Netcoins offers staking on multiple proof-of-stake cryptocurrencies, with advertised returns of up to 15% APR depending on the asset [Source]. Supported staking assets include Ethereum (ETH), Solana (SOL), Cosmos (ATOM), Polkadot (DOT), and others. Staking can be initiated directly from the Netcoins app in a few taps, and rewards are distributed on a regular schedule. This is a meaningful passive income feature for users who plan to hold their crypto long-term rather than trade actively.

Shakepay Earning Features

Shakepay does not offer traditional crypto staking. However, it does provide alternative ways to earn:

• ShakingSats: Shake your phone once per day to receive free satoshis (the smallest unit of Bitcoin). The amount increases based on your streak of consecutive days and your account status (Base, Bright, or Blue) [Source]. This viral feature is fun and engaging, but the actual Bitcoin earned is modest for most users.
• USD Interest: Shakepay offers 3% APY on USD balances held in the app [Source].
• Shakepay Card Cashback: Earn up to 2% back in Bitcoin on purchases made with the Shakepay Visa prepaid card [Source].

Which Is Better?

For crypto-native passive income (staking rewards on holdings you already own), Netcoins is the clear winner. For creative, gamified earning opportunities and cashback on everyday spending, Shakepay offers a unique and appealing package. The 3% APY on USD balances is also a genuine draw for users looking to park Canadian or U.S. dollars.

Unique Features

Beyond the core buy/sell experience, each platform offers distinctive capabilities that set it apart.

Netcoins Unique Features

• OTC Desk: Designed for high-volume and institutional traders, with personalized service, custom pricing, and low-slippage execution [Source]
• Private Wealth Services: Tailored solutions for hedge funds, family offices, and corporate treasuries, including dedicated account management and strategic guidance [Source]
• Bitcoin ATM Liquidity: Netcoins provides crypto liquidity and same-day settlement for Bitcoin ATM operators across Canada and the U.S. [Source]
• API Trading: Programmatic access for developers and algorithmic traders
• Publicly Traded Parent: BIGG Digital Assets (TSXV: BIGG) provides an extra layer of financial transparency through public disclosure obligations [Source]

Shakepay Unique Features

• ShakingSats: The signature feature that lets you shake your phone daily for free Bitcoin, building streaks for increased rewards [Source]
• Shakepay Card: A Visa prepaid card (powered by Marqeta) that earns up to 2% bitcoin cashback on purchases [Source]
• Bill Payments: Pay utilities, credit cards, and other bills directly from your Shakepay account in CAD [Source]
• Interac e-Transfers to Friends: Send money to anyone in Canada directly from the app [Source]
• Free Crypto Withdrawals: Shakepay covers blockchain network fees when you withdraw BTC or ETH to your own wallet [Source]
• USD Interest: Earn 3% APY on USD balances held in the app [Source]
• Payments Canada Membership: First crypto company to join Payments Canada, signaling deep integration with the national payments infrastructure [Source]

Both platforms have carved out unique niches. Netcoins leans into serving serious traders and institutions, while Shakepay has built an ecosystem of everyday financial tools wrapped around Bitcoin.

Who Should Choose Netcoins?

Netcoins is likely the better fit if you:

• Want to invest in altcoins. With 60+ cryptocurrencies, Netcoins gives you access to a diversified portfolio well beyond BTC and ETH. If you want SOL, DOT, ATOM, ADA, DOGE, or other popular projects, Shakepay simply does not offer them.
• Want to earn staking rewards. If you plan to hold proof-of-stake assets long-term, Netcoins' staking feature (up to 15% APR) lets you earn passive income on your holdings directly on the platform.
• Prefer transparent, lower fees on larger trades. Netcoins' flat fee structure tends to be more cost-effective than Shakepay's spread-based model, particularly on larger trades where the spread adds up.
• Are a high-volume or institutional trader. Netcoins' OTC desk, Private Wealth services, and API trading are designed for sophisticated investors and businesses.
• Value public company accountability. As a subsidiary of TSXV-listed BIGG Digital Assets, Netcoins is subject to public audit and disclosure standards that private companies are not.
• Operate Bitcoin ATMs. Netcoins offers specialized liquidity and settlement services for ATM operators.

Who Should Choose Shakepay?

Shakepay is likely the better fit if you:

• Only want Bitcoin (and maybe some Ethereum). If BTC is your primary focus, Shakepay's streamlined experience is purpose-built for you. The app removes the complexity of choosing among dozens of tokens.
• Want an all-in-one financial app. Shakepay's combination of crypto buying, bill payments, direct deposit, e-Transfers, and a spending card makes it a legitimate everyday money app, not just a crypto exchange.
• Love gamified rewards. ShakingSats (free daily Bitcoin for shaking your phone) and the Shakepay Card (up to 2% bitcoin cashback) are genuinely unique features that no other Canadian platform offers. They make engaging with Bitcoin fun and habitual.
• Move crypto to self-custody frequently. Shakepay's policy of covering blockchain withdrawal fees is a meaningful savings for users who regularly transfer BTC or ETH to their own hardware wallets.
• Want USD interest. The 3% APY on USD balances is a competitive offering for parking cash in the app.
• Prioritize CIPF protection on cash. As a CIRO Investment Dealer Member, Shakepay provides CIPF coverage of up to $1,000,000 on cash balances, offering peace of mind that goes beyond what most crypto platforms provide.
• Are a complete beginner. Shakepay's mobile-first, Bitcoin-focused design makes it one of the simplest onramps to crypto in Canada. The 1.5 million-user base is a testament to its accessibility.

Frequently Asked Questions

Is Netcoins or Shakepay cheaper?

It depends on how you trade. Netcoins charges a transparent flat fee of approximately 0.5% per trade, while Shakepay charges no explicit fee but applies a spread estimated at 1.5-3%. For most trades, Netcoins will be less expensive on a per-transaction basis. However, Shakepay covers crypto withdrawal fees (blockchain gas costs), which can save you money if you frequently move BTC or ETH to a personal wallet.

Can I buy altcoins on Shakepay?

No. As of February 2026, Shakepay supports only Bitcoin (BTC) and Ethereum (ETH) for trading. You can receive USDC deposits, but they are automatically converted to USD. If you want access to altcoins like SOL, DOT, ADA, or DOGE, you will need to use a platform like Netcoins, which supports 60+ cryptocurrencies.

Are both platforms regulated in Canada?

Yes. Both Netcoins and Shakepay are regulated by CIRO (the Canadian Investment Regulatory Organization). Netcoins is also a registered Money Services Business with FINTRAC and is a subsidiary of publicly traded BIGG Digital Assets (TSXV: BIGG). Shakepay became a CIRO Investment Dealer Member in January 2025 and is also a member of Payments Canada.

Is my money insured on either platform?

Shakepay offers CIPF (Canadian Investor Protection Fund) coverage of up to $1,000,000 per customer on cash balances as a result of its CIRO investment dealer membership. This coverage does not extend to cryptocurrency holdings. Netcoins uses institutional custody through BitGo, which carries its own insurance policies, and Netcoins' parent company is publicly audited. Neither platform provides full insurance coverage on crypto assets in the way that a traditional bank insures deposits.

Can I stake crypto on Shakepay?

No. Shakepay does not offer cryptocurrency staking. It does offer 3% APY on USD balances and bitcoin-back rewards through the Shakepay Card and ShakingSats. If staking is important to you, Netcoins supports staking on ETH, SOL, DOT, ATOM, and other assets with rewards up to 15% APR.

Which platform is better for beginners?

Both platforms are beginner-friendly, but Shakepay's mobile-first, simplified interface makes it slightly easier for someone buying crypto for the very first time. However, beginners who want to explore beyond Bitcoin and Ethereum may outgrow Shakepay quickly. Netcoins' interface is also clean and accessible, while offering more room to grow as your knowledge expands.

Can I use both platforms?

Absolutely. Many Canadian crypto users maintain accounts on multiple platforms to take advantage of each one's strengths. You could use Shakepay for accumulating Bitcoin through ShakingSats and the cashback card, while using Netcoins for altcoin investing and staking. There is no reason you have to choose just one.

Key Takeaways

• Coin selection is the biggest difference. Netcoins offers 60+ cryptocurrencies, while Shakepay is limited to BTC and ETH. If you want altcoins, Netcoins is your only option between the two.
• Fees work differently. Netcoins charges a transparent flat fee (0.5%), while Shakepay uses a spread-based model (1.5-3%). Netcoins is typically cheaper per trade, but Shakepay covers crypto withdrawal fees.
• Staking is exclusive to Netcoins. Earn up to 15% APR on proof-of-stake assets like ETH, SOL, DOT, and ATOM through Netcoins. Shakepay does not offer crypto staking.
• Shakepay excels as an everyday financial app. Bill payments, direct deposit, Interac e-Transfers, a bitcoin-back Visa card, and ShakingSats make Shakepay much more than a crypto exchange.
• Both are well-regulated. Both platforms are CIRO-regulated, and both have strong compliance track records. Netcoins adds public company accountability via its TSXV-listed parent, while Shakepay offers CIPF cash protection up to $1M.
• Shakepay has a larger community. With 1.5 million+ users (compared to Netcoins' 250,000+), Shakepay has achieved broader adoption, particularly among younger Canadians and Bitcoin-focused users.
• They serve different needs. Neither platform is objectively "better." Netcoins is the superior choice for portfolio diversity, staking, and institutional services. Shakepay is the superior choice for a streamlined Bitcoin experience, everyday financial tools, and gamified rewards.

Sources

• Netcoins Official Website
• Shakepay Official Website
• BIGG Digital Assets - Stock Analysis (TSXV: BIGG)
• Netcoins Q1 2025 Results - BIGG Digital Assets
• Netcoins Review - RankFi
• Netcoins Custody Information
• Netcoins Staking
• Netcoins Private Wealth
• Netcoins Bitcoin ATMs
• Netcoins OTC Desk Guide
• Netcoins Trustpilot Reviews
• Netcoins About Us
• BIGG Digital Assets Exemptive Relief Extension
• Shakepay Trustpilot Reviews
• Shakepay CIRO Membership Announcement
• Shakepay Series A Funding - BetaKit
• Shakepay Payments Canada Membership - BetaKit
• Shakepay Expanded Financial Tools Announcement
• Shakepay Q2 2025 Update
• Shakepay Interest - Help Center
• ShakingSats - Help Center
• Shakepay Card Cashback - Help Center
• Shakepay USDC - Help Center
• Marqeta and Shakepay Partnership
• Shakepay Review - CryptoVantage
• Shakepay Review - CoinSpot
• Shakepay OSC Filing (January 2025)
• BitGo SOC 2 Certification
• Netcoins vs Shakepay - Savvy New Canadians
• Netcoins Review - Crypto Head
• Netcoins Review - HelloSafe

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