What is the Shakepay Visa Card?

The Shakepay Visa card is the crypto debit card associated with the Shakepay crypto exchange in Canada. Shakepay operates in a brokerage format, and the most direct comparison would likely be Coinbase.

With this crypto debit card, users are able to shop anywhere Visa is accepted online. Additionally, the card can be integrated into Apple Pay and Google Pay. That said, a physical card is not yet available. Shakepay users can sign up for a crypto debit card in a matter of minutes, and bitcoin-denominated rewards can be earned on all purchases.

What are the Benefits of the Shakepay Visa Card?

The main benefit of the Shakepay Visa card comes in the form of the cashback rewards. While the base reward rate is only 1%, this rate rises to 2% for the first $5,000 in purchases. Additionally, there are oftentimes bonus rates offered by Shakepay to their users. In fact, users are able to earn up to 4% cashback rewards if they refer their friends to the crypto debit card program. 4% is one of the most attractive rates on the market for those who can refer some of their friends, and it shouldn’t be too hard of a goal to achieve, as the card only recently launched in late 2021.

The other main benefit of the Shakepay Visa card worth noting is that it will come with the same high degree of usability and quality customer support that has come to define the base Shakepay platform over the years. If you’re someone who needs a helping hand when it comes to crypto, then you can’t go wrong with Shakepay.

Potential Shakepay Visa Card Dealbreakers

There are a number of different potential dealbreakers to worry about when it comes to the Shakepay Visa card.

First of all, the main selling point of the card, which is the cashback rewards program, is a bit lower than what’s available with some of the other major crypto debit cards on the market. While there are opportunities for bonuses, these bonuses amount to the base cashback rate made available with other cards.

Another obvious dealbreaker for many is that the Shakepay crypto card is only available to Canadians, which limits the total potential userbase on a global scale.

The biggest dealbreaker with the Shakepay Visa crypto card, at least as it exists today, is that it does not have any physical card option. As of now, the card is completely digital, which means it cannot be accepted everywhere Visa is accepted. That said, the card can be added to Apple Pay and Google Pay. Additionally, Shakepay will provide the card details to the user for use in online shopping.

One final factor to consider when it comes to Shakepay as a platform overall is that it does not have extensive support for different cryptocurrencies. The base platform only supports bitcoin and ether, and the cashback rewards associated with the crypto debit card are only available in bitcoin.

Is the Shakepay Visa Card Right for Me?

The reason there are so many different crypto debit cards on the market is that different comanies are creation very specific products for different types of users.

While there are a number of potential dealbreakers with this crypto card, the reality is it will still be the right option for someone who needs a heavy focus on ease of use with quality customer support options. It should also be noted that the cashback rewards earned with this card do not necessitate the use of an alternative, proprietary token, which is oftentimes a requirement with cards that offer better rewards.

If you currently live in Canada, then you should take a serious look at this offering from Shakepay during your search for the perfect crypto debit card.