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From Shakepay To Binance: Transfer Crypto

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Today you will learn how to send your cryptocurrency funds from your Shakepay account to Binance easily. That way, you can make use of your crypto coins on a global level.

Why Transfer to Binance?

Shakepay is a competent digital currency exchange (DCE), as it looks sharp, has an intuitive layout, and its fees can fit your pocket. However, its purpose is to help you make transactions within Canada and Canada only.

Binance, on the other hand, is a global DCE, letting you make transactions to pay for any service on Earth, trade with any friend you meet overseas, etc.

Moreover, Binance is a larger DCE overall. It has more features and offers support for a greater number of cryptocurrencies.

Shakepay isn’t a bad exchange, but you could be surprised to find out that even in Canada you can find exchanges with lower fees.

Shakepay

The basics:

  • Purchase fee: 1,43%
  • Spread: 2,54%
  • Trading fees: N/A
  • Funding: Free
  • Withdrawal: Free
  • Cryptocurrencies: Ethereum and Bitcoin

Overview:

  • It is possible to fund your account almost instantly with an e-transfer.
  • Shakepay’s support team is genuinely helpful and answers back quickly. They don’t work on weekends, though.
  • This DCE lets you deposit as little as you want.
  • Referring or getting referred by friends earns you free bitcoins.
  • Features are limited: you don’t see watchlists, news, research, etc.

Read 7 Shakepay Alternatives.

Binance

The basics:

  • Purchase fee: 2,24%
  • Spread: 0,03%
  • Trading fees: 0.05% – 0.10%
  • Funding: 2%
  • Withdrawal: 0.0005 BTC
  • Cryptocurrencies: Over 300

Overview:

  • Beginners can have difficulty learning how to use Binance due to its complexity
  • On the other hand, crypto enthusiasts have many features to explore
  • Since Binance has support to hundreds of coins, you don’t need to be stuck with Bitcoin or Ether
  • One of the most trusted DCEs in the world
  • You can trade globally

How much time it usually takes to transfer?

The transferring process is very quick. Doing it takes less than five minutes, and then you should have to wait for 20 minutes at max.

How to transfer crypto from Shakepay to Binance?

This is obvious enough, but the first thing to do if you only have a Shakepay account is to create a Binance account right away. You will need to have it to follow all the steps of this guide.

After that, you need to log into your Shakepay account and click on “Send”. This is a screenshot of the Shakepay mobile app so you can locate yourself:

Then, on the “Send” page, you will see the blue toggle on the top right corner. You need to click on it, and the app will ask you which address you want to send your bitcoins or ether tokens to.

Now is the part where Binance comes into play. You need to log into your Binance account and find the “Fiat and Spot” option on the Wallet dropdown menu.

On the next page, you will click on the “Deposit” button.

On this page, you select “crypto” and your desired currency. Then you will see a QR code and your depositing address right under it.

Now go back to the Shakepay app and click on that blue toggle. It wants you to inform the address to where you will send your crypto coins to.

You can do that by scanning the QR code on Binance or inform your Binance address. After you do that, you need to choose how much of the selected currency you want to send.

If you want to send all of your Bitcoin or Ether, you just need to click on “Max”. Then you click on “Continue”, and the Shakepay will show a confirmation page where you need to confirm that you truly want to transfer your funds to the Binance account.

This is standard for all crypto transactions. After you click on “Confirm”, the transaction will be done.

When you confirm the transaction and get taken back to your Shakepay balance, you will see that the coins you sent are already unavailable in the Shakepay account. The transfer process is instant.

However, on Binance, it may take a few minutes for the transaction to show. If you don’t see it immediately, you don’t need to worry.

It is common for crypto transactions to take a little time since the network isn’t centralized.

When the crypto is finally into your Binance account, you will get a notification like this:

Again, the processing of your request might take up to 20 minutes. So, don’t worry. You can watch a few minutes of your favorite show or YouTuber while you wait for the money to be available on the Binance account.

Finally, go to “Fiat and Spot” again on Binance and check if your amount of Ether or Bitcoin has changed. This step is just to make sure that things are fine.

If you don’t see your balance changed, then you should contact Binance support.

If you don’t see the notification of the incoming transaction on your Binance account even after a long time, you need to contact support and explain the situation.

Final Thoughts

Binance is one of the biggest DCEs right now and one of the most trustworthy too. If you want to invest in cryptocurrencies, it is a great option.

Shakepay isn’t a bad exchange, but you could be surprised to find out that even in Canada you can find exchanges with lower fees.