We’re always here to make the world of crypto currencies as simple as possible. Here’s a quick breakdown of the app, to help understand what shows up as the value of your crypto on the main page.
Shakepay is a commission-free trading service, this means there's no added fees when buying or selling cryptocurrency. You can see all the details here.
Just like exchanging any currency, for your crypto we provide a buy and sell rate which you’ll notice are different.
The difference between a buy and sell rate is referred to as a spread. With a spread between the two rates, what does that mean for the amount that appears on the main screen?
The Canadian dollar equivalent you see on the main screen is calculated using the average of the buy and sell rate, which is also referred to as the mid-market rate. The mid market rate is used to give our users a better idea of the current value of their crypto.
As the main screen will show a mid market rate, it’s normal that the value displayed on the main screen differs from the buy or sell rates.