How to Buy Bitcoin on Shakepay

Buying Bitcoin on Shakepay is a straightforward process that involves a few key steps. Shakepay is a popular cryptocurrency exchange platform known for its user-friendly interface and low fees. Here's a comprehensive guide to help you navigate the process:

1. Create an Account:

• Visit Shakepay’s Website or Download the App: Start by visiting the Shakepay website or downloading their mobile app from the App Store or Google Play.
• Sign Up: Click on the “Sign Up” button. You'll need to provide your email address and create a password. Make sure to use a strong password to secure your account.
• Verify Your Email: Shakepay will send a verification email. Click on the link provided to verify your email address.
• Complete Identity Verification: For security reasons, you need to complete a Know Your Customer (KYC) process. This involves uploading a valid ID and a selfie to confirm your identity. This step ensures that only legitimate users can buy Bitcoin on the platform.

2. Deposit Funds:

• Link a Bank Account: Once your account is verified, link your bank account to your Shakepay account. This allows you to transfer funds to and from your Shakepay account.
• Deposit Funds: Navigate to the “Deposit” section of your account. Select the amount you wish to deposit and choose your linked bank account. Follow the instructions to complete the transfer. It may take a few business days for the funds to appear in your Shakepay account.

3. Buy Bitcoin:

• Go to the Buy/Sell Section: After your funds are available, go to the “Buy/Sell” section of your Shakepay account.
• Select Bitcoin: Choose Bitcoin from the list of cryptocurrencies available for purchase.
• Enter the Amount: Specify the amount of Bitcoin you want to buy or the amount of CAD you wish to spend.
• Review and Confirm: Review the details of your purchase, including the current exchange rate and any fees. Confirm the transaction to complete your purchase.

4. Secure Your Bitcoin:

• Enable Two-Factor Authentication (2FA): For added security, enable two-factor authentication on your Shakepay account. This adds an extra layer of protection by requiring a second form of verification when logging in.
• Consider a Hardware Wallet: While Shakepay provides a secure platform for holding Bitcoin, you might want to consider transferring your Bitcoin to a hardware wallet for added security. Hardware wallets are physical devices that store your Bitcoin offline, making them less vulnerable to online threats.

5. Monitor Your Investment:

• Track Bitcoin’s Performance: Shakepay offers tools to monitor the performance of your Bitcoin investment. Keep an eye on market trends and Bitcoin’s price to make informed decisions about buying or selling.
• Set Price Alerts: You can set price alerts on Shakepay to notify you when Bitcoin reaches a specific price. This helps you stay updated on market movements without constantly checking the app.

6. Withdraw Funds (if needed):

• Sell Bitcoin: If you want to cash out, go to the “Buy/Sell” section and select “Sell” instead of “Buy.” Enter the amount of Bitcoin you wish to sell and follow the prompts.
• Withdraw to Bank Account: After selling Bitcoin, you can withdraw the funds to your linked bank account. Navigate to the “Withdraw” section, select the amount, and confirm the withdrawal. Like deposits, withdrawals may take a few business days to process.

Additional Tips:

• Stay Informed: Keep up with Bitcoin news and market trends to make well-informed investment decisions.
• Be Cautious: Always double-check transaction details before confirming purchases or sales to avoid mistakes.
• Use Shakepay’s Resources: Shakepay provides educational resources and customer support. Utilize these to enhance your understanding of cryptocurrency and the platform.

By following these steps, you can successfully buy Bitcoin on Shakepay and start your journey into cryptocurrency investing. Whether you're a seasoned investor or new to the world of digital assets, Shakepay offers a user-friendly experience to help you manage your Bitcoin investments with ease.