1Bitcoin vs Shakepay:

The comparison table above gives you a quick overview. But for Canadians making a decision about where to buy Bitcoin, the details matter. Here’s a deeper look at each key factor.

When you buy Bitcoin through Shakepay, your Bitcoin sits in Shakepay’s custody until you choose to withdraw it. Shakepay controls the private keys — the cryptographic proof of ownership. This means:

– Shakepay can freeze withdrawals (as several custodial platforms did in 2022)

– Shakepay is a point of failure — if it’s hacked, your Bitcoin is at risk

– Your Bitcoin appears on Shakepay’s balance sheet, not independently on the blockchain.

When you buy Bitcoin through 1Bitcoin.ca, Bitcoin is sent directly to a wallet address you provide. 1Bitcoin.ca never holds your Bitcoin. The moment your purchase is complete, the Bitcoin is on the blockchain under your control.

 Several major custodial platforms — including Celsius, BlockFi, and Voyager — froze withdrawals when they ran into financial difficulty. Customers couldn’t access their Bitcoin. Non-custodial platforms cannot do this because they never hold customer Bitcoin in the first place.

The practical implication:

If you’re buying Bitcoin to hold long-term, custody is the single most important factor in your platform choice. Short-term convenience is not worth custodial risk on significant amounts.

Shakepay advertises “0% trading fees,” which is technically accurate but incomplete. Shakepay earns revenue through the spread — the difference between the market price of Bitcoin and the price shown in the app.

How the spread works:

– Current Bitcoin market price: $100,000 CAD

– Shakepay’s buy price shown to you: $101,500 CAD

– Shakepay’s sell price shown to you: $98,500 CAD

– Spread (effective fee): ~1.5%

The spread isn’t fixed — it can widen during volatile market conditions, meaning you could pay a higher effective fee during exactly the times when Bitcoin is most actively traded.

For long-term buyers:

If you’re buying Bitcoin to hold, the fee spread is a one-time cost that matters less than custody and security. But if you’re making frequent purchases (DCA strategy), a 1.5% spread adds up significantly over time.

Shakepay advertises “0% trading fees,” which is technically accurate but incomplete. Shakepay earns revenue through the spread — the difference between the market price of Bitcoin and the price shown in the app.

How the spread works:

– Current Bitcoin market price: $100,000 CAD

– Shakepay’s buy price shown to you: $101,500 CAD

– Shakepay’s sell price shown to you: $98,500 CAD

– Spread (effective fee): ~1.5%

The spread isn’t fixed — it can widen during volatile market conditions, meaning you could pay a higher effective fee during exactly the times when Bitcoin is most actively traded.

For long-term buyers:

If you’re buying Bitcoin to hold, the fee spread is a one-time cost that matters less than custody and security. But if you’re making frequent purchases (DCA strategy), a 1.5% spread adds up significantly over time.

Shakepay is FINTRAC-registered and has been operating in Canada since 2015. It is one of the more established Canadian crypto platforms. 

In 2023, the Ontario Securities Commission (OSC) and other provincial regulators began requiring crypto trading platforms to apply for registration as restricted dealers. Shakepay, along with several other Canadian platforms, committed to working toward this registration. 

What this means for users:

Shakepay is a legitimate, regulated Canadian company. The regulatory evolution of Canadian crypto platforms is ongoing, and users should monitor compliance developments.

Shakepay is a well-designed app built for convenience. It makes sense if:

– You’re new to Bitcoin and want the simplest possible experience

– You want a mobile-first app with a clean interface

– You plan to buy small amounts and trade them actively

– You value the rewards programs and don’t mind custodial storage for smaller amounts

– You want Ethereum exposure alongside Bitcoin

1Bitcoin.ca is built for a different kind of Bitcoin buyer — one who prioritizes ownership and long-term accumulation. It makes sense if:

– You want Bitcoin sent directly to your own wallet from day one

– You’re buying Bitcoin as a long-term savings strategy

– You want transparent pricing with no spread games

– You want Canadian-based support from a Bitcoin-only team

– You’ve learned about Bitcoin and understand why self-custody matters

– You’re making larger or recurring purchases where fee transparency matters

Scenario 1: First-time buyer, $500 purchase

Both platforms work. Shakepay’s interface is slightly simpler. 1Bitcoin.ca gives you ownership from the first purchase. Cost difference is minimal at this size.

Scenario 2: Regular DCA buyer, $200/week

Over 52 weeks: ~$10,400 invested. At a 1.5% spread on Shakepay: ~$156 in fees per year. At 1Bitcoin.ca’s transparent fee: clearly shown before each purchase. For long-term DCA, fee transparency helps you track your true cost basis accurately.

Scenario 3: Serious holder, $10,000+ purchase

At this level, custodial risk becomes significant. A non-custodial platform that sends Bitcoin directly to a hardware wallet is strongly preferable. Leaving $10,000+ on any custodial platform introduces unnecessary risk.

With 1Bitcoin.ca, purchases are sent directly to a wallet you control. This non-custodial approach means you hold the private keys, not the platform.

Learn more about why this matters: → non-custodial

Shakepay is custodial by default. While users can withdraw to self-custody, Bitcoin initially sits on Shakepay’s platform, exposing users to counterparty risk during that period.