December 13th, 2018
Canadians can now gradually accumulate small fractions of BTC by rounding up their everyday debit card purchases with a mobile application called Shakepay. The company launched in 2015 operates multiple cryptocurrency services and its new Shakepay Change element aims to provide individuals with a frictionless way to buy BTC in Canada.
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Shakepay: A Spare Change-to-Cryptocurrency App
The Montreal-based financial technology company Shakepay provides digital currency applications for Canadians. Since 2015, the Shakepay application has provided users with the ability to purchase and sell bitcoin core (BTC) in a quick fashion. The company has serviced over 40,000 customers and has processed well over $30 million in BTC since its inception. The Shakepay Change feature is a new addition to the slew of applications created to make acquiring bitcoins easier. The change service will allow Canadians to purchase BTC with the spare change of rounded up debit purchases.
Basically, Shakepay Change users need to link a debit card to their Shakepay account. Then if they purchase anything, the application will round up each purchase to the nearest dollar. The leftover change is what is used to purchase BTC and then the platform adds the funds to the Shakepay wallet.
“Following Bitcoin, the entire suite of financial services is being rebuilt independently from the current financial infrastructure,” explained Jean Amiouny, CEO of Shakepay. “We believe enabling access to these services is paramount to the creation of wealth and economic freedom.”
Shakepay is a licensed money services business and can operate in any province throughout Canada. The company is backed by investors such as Boost VC and has also partnered with a Schedule 1 bank in order to facilitate the application’s payment processing. The Shakepay team believes Bitcoin’s innovation is important because “it enables wealth to be stored with an individual without the need for a third party.” The Shakepay application with the spare change service is available for Canadians using both Android and iOS mobile phones.
Not the Only Loose Change Crypto-Application
Shakepay is not the first company to offer this type of cryptocurrency purchasing technique with rounded up debit purchases. Back in the spring of 2015, the project Lawnmower.io offered a spare change-into-bitcoin conversion tool that was tethered to Coinbase accounts. However, Lawnmower stopped offering the rounded change feature back in March 2016.
Then there’s another digital currency purchasing application that rounds up purchases called Coinflash. The Coinflash application gives users the ability to purchase BTC and ETH using spare change.
As far as Canadians are concerned, they can try the Shakepay platform to acquire small fractions of BTC. “Our mission is to create open access to building wealth and we’re setting out to have every single Canadian owning bitcoin,” Amiouny added.
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