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Bull Bitcoin vs Shakepay: What Works Better For Canadians in 2024?

Oleg Galeev

Last updated March 13, 2024

Comparing Bull Bitcoin and Shakepay reveals two distinct approaches tailored to the Canadian market for cryptocurrency users. Bull Bitcoin offers a focused platform specializing in Bitcoin transactions with features like bill payments and payroll integration, emphasizing self-custody and direct purchases. On the other hand, Shakepay broadens the scope slightly by offering both Bitcoin and Ethereum, alongside unique engagement features like “ShakingSats” to earn Bitcoin rewards, and a Bitcoin cashback Visa card, catering to a more diverse user base seeking simplicity and additional perks.


Bull Bitcoin is a unique Canadian Bitcoin trading platform with ability to pay bills with bitcoin (cellphone, electricity even taxes to CRA) and that allows you to take self-custody immediately. 

Shakepay is an easy way for Canadians to buy Bitcoin and Ethereum. Offering fast and free account deposits, Shakepay allows Canadians to sign up and buy crypto in minutes. Shakepay has 600,000+ users.


BTC only

Bitcoin, Ethereum


Bull Bitcoin sends the BTC directly to your wallet so you avoid typical withdrawal and network fees that exchanges often have which is a money saver. Bull Bitcoin does not charge fees for buying bitcoin either. Instead, you’ll get exactly what their “We sell” price is. When paying via debit or cash at Canada Post, you’ll pay a 2% fee. 

  • Free crypto withdrawal 
  • Free account deposit/withdrawal 
  • Trading fee spread: 1.2% - 2.5%


  • Immediate self-custody of assets
  • Send funds via e-Transfer or wire
  • Pay anonymously with cash
  • No withdrawal fees or wait times
  • Recurring buys directly from your bank account
  • Pay bills with bitcoin
  • Assets stored in cold storage
  • User-friendly
  • Interac e-Transfer available
  • Funding your account takes minutes not hours
  • Can transfer coins to a private wallet
  • Free to deposit/withdraw
  • Set up automatic recurring buys
  • Referral program gives you free Bitcoin every day Crypto visa card with Bitcoin cashback


Only bitcoin available 

  • Fairly high spread
  • Users do not hold private keys within Shakepay 
  • Only two cryptocurrencies are available

Account Limits

  • $10,000,000.00 CAD deposit / day via wire trasnfer
  • $10,000.00 CAD deposit / day via Interac E-transfer
  •  $1,000.00 CAD deposit / day via Cash or Debit at Canada Post
  • Buy & Sell transfer are almost unlimited ( $1,000,000.00 CAD a day)

Deposit up to $10,000 via Interac daily

Methods to buy

When buying cryptocurrency with Bull Bitcoin, you can deposit Canadian dollars via an Interac e-Transfer, wire transfer or cash or debit at Canada Post. With the first two options, you will have to KYC and verify your Bull Bitcoin account. 

  • Debit card
  • Interac e-Transfer
  • Wire transfer


  • Full custody of your bitcoin.
  • Assets are held in cold storage (percentage unknown)
  • Users can withdraw crypto to private wallets

Mobile and Desktop Trading

Bull Bitcoin operates primarily through a web-based platform designed for simplicity and ease of use, without mentioning a specific mobile application. Its interface is straightforward, facilitating direct Bitcoin purchases and sales, bill payments, and more without the need for a complex trading environment.

Shakepay, on the other hand, boasts a highly rated mobile app alongside its desktop platform, catering to users who prefer trading on the go. The Shakepay app is celebrated for its user-friendly interface, with high ratings on both the App Store and Google Play. This makes Shakepay accessible for a broader range of users, from beginners to more experienced traders who appreciate the convenience of mobile trading.

Bull Bitcoin

Bull Bitcoin has a simple website since all of the transactions happen via your bank. There aren’t many features to get you confused, however, we think their website could be designed a little better.

UI of Bull Bitcoin platform

Major Screen

Buying bitcoin with interac e-transfer on Bull Bitcoin platform

Buying Bitcoin via Bull Bitcoin

Transaction screen on the mobile app

Transaction screen on the mobile app

Bull Bitcoin app screenshot


Shakepay offers a simple and beginner-friendly way to purchase Bitcoin and Ethereum via its desktop platform or its mobile app. Shakepay’s app is available on both the Apple App Store and Google Play. The app has a 4.5-star rating with 12,000 ratings on the App Store and a 4.6-star rating with 7,000 ratings on Google Play. 

Shakepay’s app is incredibly simple to use, just like its desktop platform. Since it is a beginner-friendly crypto exchange, there aren’t many features that will confuse you. It offers a simple and clean interface with basic charting for Bitcoin and Ethereum. Funding your account and purchasing crypto is easy with just a few clicks. 

Shakepay main screen on desktop app

Shakepay desktop interface

Shakepay mobile app screenshot

Shakepay app interface

Shakepay app while trading

Shakepay app interface while trading

Security Compliance

Bull Bitcoin is completely safe since you always take full custody of your bitcoin, you do not need to worry about hackers stealing your funds on the platform. However, there is still a level of trust needed because you do not buy the bitcoin yourself and must wait for it to be sent to your crypto wallet

Shakepay hold users’ funds in cold storage, though they do not publicize the percentage. Shakepay has existed since 2015, and so far, never has been hacked.

Shakepay states on its website that digital assets are backed by an insurance policy, though it does not mention any details. 

Shakepay also offers two-factor authentication (2FA) for their customers, so you can be sure no one else is accessing your account. With Shakepay, you will also need to confirm via email when withdrawing funds. If you set up 2FA for your email account, you can be pretty sure no unauthorized person is withdrawing funds from your account.


Bull Bitcoin prioritizes the security of its users by enabling immediate self-custody of Bitcoin, thereby reducing reliance on the platform for asset storage. The platform is compliant with Canadian regulations, ensuring a secure trading environment.

Shakepay also emphasizes security, though it is somewhat vague about the specifics of its insurance policy and cold storage. However, it implements two-factor authentication and email confirmations for withdrawals, adding layers of security for its users. Shakepay is licensed as a Money Service Business (MSB) by FINTRAC, adhering to regulatory standards.

Regulatory Compliance

Bull Bitcoin is registered with FINTRAC as a Money Services Business and there is a full KYC procedure meaning Bull Bitcoin is fully compliant with Canadian regulations. 

Shakepay is regulated as a Money Service Business (MSB) by FINTRAC. Shakepay is based in Montreal and is allowed to operate in every Canadian province. 

Both Bull Bitcoin and Shakepay are compliant with Canadian regulations, with Bull Bitcoin registered with FINTRAC as a Money Services Business, ensuring adherence to legal and security standards. Shakepay's FINTRAC registration also underscores its commitment to regulatory compliance, offering Canadians a secure platform for cryptocurrency transactions.

Customer support

Since it is a small company, it may take some time for them to get back to you. Their opening hours are from 9 AM to 8 PM Mon-Fri with sporadic ability on weekends.The platform has a 4.9-star rating on Trustpilot with almost 200 reviews, so it’s clear that customers are extremely satisfied with the service. 

Shakepay offers chat support, helpful FAQs and access to customer support via their website.

Shakepay claims it has “customer service that cares.” It offers a useful support section on its website that can answer some of the most common questions and you can contact support via email at [email protected]. Shakepay claims that support tickets can be answered within hours, even on weekends. We reached out to the support team via email to see how quickly they would respond. We received a reply the next day, less than 24 hours later. 

Bull Bitcoin offers customer support via email, with a strong reputation for service quality as reflected in its Trustpilot ratings. The platform's focus on direct and secure Bitcoin transactions appeals to users looking for straightforward services without the need for extensive support.

Shakepay claims rapid response times for support inquiries, even on weekends, and maintains a dedicated support section on its website. While its Trustpilot ratings indicate some areas for improvement, the unique features and simplicity of the platform continue to attract a loyal user base.


While both platforms provide valuable services to the Canadian cryptocurrency community, Bull Bitcoin emerges as a strong choice for those focused solely on Bitcoin, offering a simplified, secure, and direct trading experience. Its emphasis on self-custody and the innovative integration of Bitcoin into everyday financial activities, like bill payments and payroll, provide a compelling proposition for users prioritizing control and utility over their Bitcoin.

Shakepay, with its broader cryptocurrency offerings, engaging user rewards program, and Bitcoin cashback Visa card, presents a versatile option for users looking for ease of use and additional benefits. However, the transparency and focus of Bull Bitcoin on Bitcoin transactions and security aspects give it an edge for users with those priorities.


Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.