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

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Who writes this: Every review on this site is written by Max Hamburger (pseudonym / sudo anon), an independent Canadian cryptocurrency researcher actively tracking and evaluating platforms since 2018.
How we test: We sign up for real accounts, deposit Canadian dollars ($CAD) via Interac e-Transfer, execute real trades to calculate true spread markups, and test withdrawal times to cold hardware wallets.
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Pricing accuracy: Fee schedules and spreads are manually verified against live Canadian order books. Check the verification date on each review for the last confirmed check. Editorial policy.

Comparing Shakepay and Kraken — fees, regulation, supported coins, and which is better for Canadian crypto investors.

Shakepay
~0.5% - 2.0% Spread
$20 CAD Bonus
  • Deposit: $0
  • Withdrawal: Free (Normal)
  • Regulation: CIRO / CIPF
  • Coins: 3 (BTC, ETH, USDC)
  • Best For: Beginners & Free BTC
Visit Shakepay →
TOP PICK
Kraken
0.16% - 0.26% (Pro)
Up to CA$350 Bonus
  • Deposit: 0.5% - 1.5%
  • Withdrawal: Low Network Fee
  • Regulation: FINTRAC / CSA
  • Coins: 200+
  • Best For: Lowest Trading Fees
Visit Kraken →
On this page

Both Shakepay and Kraken are popular options for Canadians looking to buy and sell cryptocurrency. Here's how they compare on the metrics that matter most.

Direct Fee Comparison

Feature Shakepay Kraken
Trading Spread ~0.5% - 2.0% ~0.16% - 0.26% (Pro) / ~1.5% (Instant)
Deposit (Interac) $0 0.5% - 1.5%
Crypto Withdrawal Free (Normal ~12hr) / Network fee (Fast ~10min) Network fee
Regulation CIRO Dealer (CIPF) Ontario Securities Commission (OSC) Pre-Registration Undertaking
Best For Beginners, daily dollar-cost averaging, and free Bitcoin withdrawals Advanced traders, high liquidity, margin & crypto-to-crypto pairs
Signup Bonus $20 CAD → Up to CA$350 →

Who Should Pick Shakepay?

Shakepay is best for beginners, daily dollar-cost averaging, and free bitcoin withdrawals. It's headquartered in Montreal, QC and has been operating since 2015.

Who Should Pick Kraken?

Kraken is best for advanced traders, high liquidity, margin & crypto-to-crypto pairs. It's headquartered in Vancouver, BC / Global and has been operating since 2011.

Final Recommendation

  • Choose Shakepay if you prioritize beginners, daily dollar-cost averaging, and free bitcoin withdrawals.
  • Choose Kraken if you prioritize advanced traders, high liquidity, margin & crypto-to-crypto pairs.

Looking for a different matchup?

Browse All Exchange Comparisons →

Frequently Asked Questions

Which has lower fees, Shakepay or Kraken?

Shakepay charges a spread of ~0.5% - 2.0%. Kraken charges ~0.16% - 0.26% (Pro) / ~1.5% (Instant). Compare the total cost including deposit and withdrawal fees for your specific purchase size.

Are Shakepay and Kraken regulated in Canada?

Yes. Shakepay is CIRO Investment Dealer (Jan 2025) / CIPF Member. Kraken is Ontario Securities Commission (OSC) Pre-Registration Undertaking. Both are registered MSBs with FINTRAC.

Can I deposit Canadian dollars on both platforms?

Yes. Both Shakepay and Kraken support free Interac e-Transfer deposits. Shakepay deposit fee: $0. Kraken deposit fee: 0.5% - 1.5%.

Which platform supports more cryptocurrencies?

Shakepay supports 3 coins. Kraken offers multiple cryptocurrencies.