Shakepay Referral Code & Sign-Up Bonus (Get $20 CAD + ShakingSats)

Use the active Shakepay referral code FM8INVL to receive a $20 CAD cash bonus when you deposit and trade $100 CAD or more in Bitcoin or Ethereum. Signing up with a referral also permanently unlocks ShakingSats, Shakepay's daily free Bitcoin reward feature.

1. Exact Steps to Claim the $20 Shakepay Bonus

Claiming the welcome reward takes under 5 minutes:

1. Click the Referral Link: Go to shakepay.me/r/FM8INVL or enter code FM8INVL during app registration.
2. Download the Mobile App: Available on iOS App Store and Google Play.
3. Verify Your Identity (KYC): Under Canadian FINTRAC regulations, submit your legal name, email, phone number, and photo ID. Verification is typically automated and completed in under 2 minutes.
4. Deposit $100 CAD: Send an Interac e-Transfer from your Canadian bank account (deposits are free and usually arrive in minutes).
5. Buy $100 CAD in Crypto: Execute a single purchase or cumulative purchases of at least $100 CAD in Bitcoin or Ethereum.
6. Bonus Payout: The $20 CAD bonus is deposited directly into your Canadian dollar cash balance within 24 hours of completing the trade.

2. Unlocking Daily Free Bitcoin (ShakingSats)

The biggest ongoing benefit of signing up with a referral code isn't just the one-time $20 bonus—it is unlocking ShakingSats.

Once your account has traded $100 CAD and is referral-linked:

• Open the Shakepay mobile app once every day.
• Physically shake your phone.
• Free Satoshis (fractions of Bitcoin) are instantly credited to your wallet balance.
• Keep an active daily streak to increase the number of free sats you earn each day.

3. The Gotcha: What People Get Wrong

To receive the bonus, you must buy or sell at least $100 CAD of crypto within 30 days of registration. Simply depositing $100 CAD via Interac is not enough; you must execute a trade.

Additionally, you cannot refer yourself or open multiple accounts under the same Canadian identity.

4. What If You Forgot to Enter the Code? (Add Code After Signup)

Unlike almost every other Canadian exchange (which permanently forfeit your bonus if you forget to enter the promo code during initial signup), Shakepay lets you retroactively add a referral code up to 30 days after registration.

If you already created an account:

1. Open your web browser and visit: https://shakepay.com/add-referral
2. Log in with your Shakepay account credentials.
3. Enter referral code: FM8INVL
4. Click Continue.

Once entered, trade your initial $100 CAD, and the $20 bonus and ShakingSats feature will activate normally.

5. Is the Shakepay Bonus Worth It? (Break-Even Fee Math)

This is the most critical question most coupon sites won't answer: does the $20 bonus offset Shakepay's trading spread?

Shakepay does not charge explicit trading fees or withdrawal fees; instead, they make money on the spread (typically 1.2% to 1.8% between buy and sell prices).

Here is the realistic break-even calculation:

The Honest Verdict:

• For purchases under $1,500 CAD: Shakepay is exceptional value. The $20 cash bonus and 100% free Bitcoin network withdrawals make it cheaper overall than low-fee platforms that charge $5-$10 flat withdrawal fees.
• For purchases over $3,000 CAD: The 1.5% spread becomes costly. For large lump-sum purchases, low-fee order book exchanges like NDAX (0.20% fee) or Kraken (0.16% fee) are more cost-effective.

6. What Shakepay Actually Costs

To learn more about Shakepay's FINTRAC registration, security track record, and mobile app features, read our comprehensive Shakepay Review.

To see how Shakepay stacks up against Newton, NDAX, and Bitbuy, visit our Best Crypto Exchanges in Canada Comparison and our Canadian Crypto Bonus Hub.