If you've been thinking about buying Bitcoin in Canada, Shakepay is one of the easiest places to start — and right now, new users get $20 in free Bitcoin just for signing up with a referral code. Here's everything you need to know.
The Shakepay Referral Code
Referral code: KRQ31DB
Enter this code during sign-up to unlock your $20 Bitcoin bonus. You can also use the referral link below, which applies it automatically.
Claim your $20 Bitcoin bonus →
How to Earn the Bonus
The requirement is simple: sign up with the referral code, complete identity verification, and buy at least $100 of cryptocurrency. Your $20 Bitcoin bonus is credited to your Shakepay account shortly after the qualifying purchase clears.
There's no waiting period, no holding requirement, and no minimum time the funds need to stay in your account.
The Code Must Be Entered at Sign-Up
Like most crypto platforms, Shakepay does not allow referral codes to be applied after your account has been created. Enter code KRQ31DB during registration — it can't be added retroactively.
What Shakepay Actually Is
Shakepay is a Montreal-based crypto platform founded in 2015, focused exclusively on making Bitcoin and Ethereum easy to buy and sell for Canadians. It's registered as a Money Services Business (MSB) with FINTRAC and operates across all Canadian provinces.
It's intentionally simple. There are two cryptocurrencies available — Bitcoin (BTC) and Ethereum (ETH) — and the app is designed around the idea that most Canadians just want to buy and hold Bitcoin without navigating a complex exchange interface.
Funding is done via Interac e-Transfer, which means deposits are instant and free. Withdrawals back to your bank account work the same way.
Fees are built into the spread rather than charged as explicit commissions. Shakepay doesn't publish its spread rate, but it's in line with other Canadian exchanges for small to mid-sized purchases.
ShakingSats: Free Bitcoin Every Day
One of Shakepay's most distinctive features is ShakingSats — a daily reward system that gives you a small amount of free Bitcoin just for shaking your phone.
The amount starts small but scales up the longer your daily streak runs. Miss a day and the streak resets. It's a genuinely fun way to accumulate small amounts of Bitcoin passively over time, and it costs nothing beyond the habit of opening the app once a day.
It's not going to make you rich, but over months of consistent shaking, the sats add up — and it keeps you engaged with your balance in a low-pressure way.
Is Shakepay Safe?
Shakepay is one of the longer-running Canadian crypto platforms and has a clean regulatory track record. A few things worth knowing:
- Registered with FINTRAC as a Money Services Business
- Canadian company with Canadian customer support
- Crypto holdings are not covered by CDIC deposit insurance — this applies to all crypto platforms, not just Shakepay
- You can withdraw your Bitcoin to a personal hardware wallet at any time if you prefer self-custody
Shakepay vs Newton
If you're deciding between Shakepay and Newton, the honest answer is they serve slightly different needs.
Shakepay is better if you want the simplest possible experience for buying and holding Bitcoin, or if you want the ShakingSats daily reward feature. The app is cleaner and the onboarding is faster.
Newton supports over 60 cryptocurrencies compared to Shakepay's two, making it the better choice if you want exposure to altcoins beyond BTC and ETH. Newton also offers a $25 Bitcoin bonus with referral code EUSZ0G.
There's no reason you can't have both — they don't conflict, and you can collect a bonus from each. Many Canadians use Shakepay for Bitcoin and Newton for everything else.
How the $20 Compares to Other Crypto Bonuses
Shakepay's $20 Bitcoin bonus is a solid entry-level offer for the Canadian crypto market. For comparison:
- Newton — $25 in Bitcoin after your first trade, code EUSZ0G
- Wealthsimple — $25 cash for a $100 deposit into any account, including crypto
All three can be claimed independently — opening Shakepay, Newton, and Wealthsimple in the same week and collecting all three bonuses is a straightforward $70 with minimal effort.
Looking for more Canadian sign-up bonuses? Browse all current referral codes across crypto, investing, and banking.