Security Compliance
Beaver Bitcoin is non-custodial by default, meaning every purchase goes directly to your own wallet and the platform never holds your funds. This drastically reduces exchange risk. Shakepay follows the more traditional custodial model but allows fast withdrawals to personal wallets. They advertise cold storage and insurance, but provide fewer details than some competitors. In terms of minimizing exposure, Beaver Bitcoin holds the security advantage.
Regulatory Compliance
Both Beaver Bitcoin and Shakepay are registered as Money Services Businesses with FINTRAC and must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. That means full KYC, transaction monitoring, and reporting. The key difference is that Beaver Bitcoin’s narrow focus makes the onboarding process lighter, while Shakepay operates with broader features but the same regulatory framework.
Customer support
Beaver Bitcoin is a small operation with support available through a website form. While response times may vary, the simplicity of the platform means fewer reasons to contact support in the first place. Shakepay has a larger support team, a detailed help center, and generally responsive email support. User experiences are mixed—Trustpilot reviews lean negative, while app store ratings are excellent.
Conclusion
Shakepay is a fun and accessible way to start buying crypto in Canada, especially for those who want Ethereum or the novelty of a cashback Visa card. However, Beaver Bitcoin comes out ahead for its commitment to self-custody, simple design, and transparent pricing. For Canadians who value owning Bitcoin directly and want the easiest, most straightforward experience, Beaver Bitcoin is the winner.
We recommend choosing Beaver Bitcoin over Shakepay for your cryptocurrency trading needs. By opting for Beaver Bitcoin through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Beaver Bitcoin nor Shakepay meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
