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Shakepay: The User-Friendly Platform for Cryptocurrency Investment

Shakepay Overview: Providing Easy Access to Cryptocurrencies

Cryptocurrencies have been gaining popularity over the past few years, and Shakepay is determined to make them accessible to everyone. Shakepay is a fintech startup that allows users to buy, sell, and hold cryptocurrencies such as Bitcoin and Ethereum.

Additionally, the platform offers a range of services, including P2P payments, debit card, and cashback rewards. Services Offered: Cryptocurrencies, Bitcoin, Ethereum, Debit Card

Shakepay’s primary goal is to provide users with easy access to cryptocurrencies.

Shakepay offers a wallet specifically designed for top cryptocurrencies like Bitcoin and Ethereum. The wallet is easy to use, and users can buy and sell cryptocurrencies with just a few clicks.

The platform also offers competitive exchange rates, making it an attractive option for investors. The platform also offers a debit card that users can use to make purchases anywhere Visa is accepted.

However, the unique feature of Shakepay’s debit card is that users can spend their Bitcoin and Ethereum directly, without having to convert them to fiat currency first. This feature makes transactions more seamless and removes the need to worry about exchange rates.

Unique Features: Shake Feature, Cashback Rewards, P2P Payments

Shakepay offers several unique features that make it stand out from other cryptocurrency platforms. The Shake feature, for example, allows users to send Bitcoin or Ethereum to anyone in their contact list.

All they have to do is shake their phone, and the recipient will receive the cryptocurrency within seconds. This feature is quick, easy, and secure.

Another unique feature of Shakepay is cashback rewards. Every time a user makes a purchase with their Shakepay debit card, they receive a percentage of cashback in Bitcoin.

This feature incentivizes users to make purchases with their Shakepay card and helps them build their cryptocurrency portfolio over time. Finally, Shakepay also offers P2P payments, allowing users to send and receive money with other users in the Shakepay app.

This feature is particularly useful for friends and family who want to transfer money between each other. Shakepay Company History: From Payment App to Multi-Currency Wallet

Shakepay was founded in 2015 as a payment app, allowing users to pay for goods and services using their phones.

However, the founders quickly realized that the technology they were using could be used for more than just payment processing. They decided to pivot their business model to focus on cryptocurrencies.

Pivot and New Services: Multi-Currency Wallet, OTC Trading, Ethereum

In 2017, Shakepay launched its multi-currency wallet, allowing users to buy, sell, and hold Bitcoin and Ethereum. The wallet was also designed with security in mind, using offline storage to protect users’ funds.

Shakepay also expanded its services to include over-the-counter (OTC) trading, allowing users to trade cryptocurrency with other users directly. Additionally, Shakepay added support for Ethereum, a popular cryptocurrency with a large user base.

Growth and Expansions: Userbase, Coinbase Partnership, Visa Prepaid Card

Since its launch, Shakepay has grown its user base significantly and now has over 175,000 customers. In 2018, Shakepay partnered with Coinbase, one of the largest cryptocurrency exchanges in the world.

This partnership allows Shakepay to offer its users access to even more cryptocurrencies and trading options. In 2019, Shakepay launched its Visa prepaid card, allowing users to spend their Bitcoin and Ethereum anywhere Visa is accepted.

Conclusion

In conclusion, Shakepay has made investing in cryptocurrencies easy and accessible for everyone. With its user-friendly wallet, debit card that allows users to spend their cryptocurrencies directly, and unique features like Shake, cashback rewards, and P2P payments, Shakepay has quickly become a popular choice for those looking to invest in cryptocurrencies.

Shakepay’s growth and expansion show no signs of slowing down, and it is an exciting company to watch in the cryptocurrency space. Shakepay Revenue Model: Understanding the Platform’s Income Sources

In order to sustain itself, every business requires a steady stream of revenue.

Shakepay, being no exception, has a revenue model that is combined with its services. Shakepays platform generates revenue through various sources, such as spread, interchange fees, and debit card services.

Sources of Income: Spread, Interchange Fees, Debit Card

Shakepay primarily generates revenue from the spread, which is the difference in price between the purchase and sale of cryptocurrencies. Essentially, Shakepay buys cryptocurrencies at one price and then sells them to its users at a slightly higher price, allowing the platform to make a profit.

The spread is a simple way to acquire cryptocurrency, and Shakepay’s easy-to-use platform makes the process even more convenient. The platform offers attractive rates, which helps to attract customers who are looking to invest in cryptocurrencies.

Another source of income for Shakepay comes from interchange fees. These are fees that the platform earns when a user spends money with their Shakepay debit card.

Shakepay earns a percentage of every transaction made with the debit card, allowing the platform to generate revenue with every purchase made by its users. To encourage more users to use the debit card, Shakepay also offers cashback rewards that provide users with a percentage of cashback in Bitcoin every time they make a purchase.

Lastly, Shakepay generates revenue through the use of affiliate commissions and merchant payments. The platform offers rewards to users who refer their friends to Shakepay, which helps to attract new users and expand its user base.

Additionally, the platform earns money when users make transactions with merchants who accept Shakepay payments. Spread: Simple Crypto Acquisition

Shakepays pricing structure is user-friendly and transparent.

The spread is different for each cryptocurrency, but the platform offers competitive rates that are often better than its competitors. This makes Shakepay an attractive option for users who want to acquire cryptocurrencies without having to worry about complicated pricing schemes.

Interchange Fees: Cashback Rewards, Affiliate Commissions, Merchant Payment

Shakepays debit card offers users a seamless experience when using their funds. The platform earns income from interchange fees, which it receives from merchants and banks when users use their Shakepay debit card.

By offering cashback rewards, Shakepay incentivizes users to make purchases with their debit card, ensuring that the platform continues to generate significant revenue. Affiliate commissions are another strategy that Shakepay uses to generate revenue.

By offering rewards to users who refer their friends to the platform, Shakepay is able to expand its user base, generating more income from interchange fees and spread. Merchant payment is yet another revenue stream for Shakepay.

By partnering with merchants who accept cryptocurrency, Shakepay is able to generate transactions and earn a percentage of the sale. Shakepay Funding, Revenue & Valuation: How the Platform is Funded and Valued

In its early days, Shakepay was funded through various rounds of venture capital funding.

The company has managed to raise significant amounts of funding, thanks in part to its reputation within the cryptocurrency space. Funding History: Venture Capital, Notable Investors, Five Rounds

Since its inception, Shakepay has raised funds through five rounds of venture capital funding.

In 2015, Shakepay received seed funding from investors such as Boost VC and Scott Annan. In 2016, Shakepay received funding from notable investors including Tim Draper and Roger Ver.

In 2019, Shakepay raised CAD 1 million in a NEXT Canada seed round. Current Valuation: $251 million, Series A Funding, Private Ownership

In 2021, Shakepay raised $38 million in Series A funding, led by Valar Ventures.

This brings the companys total funding to date to $65 million, with Shakepay having a current valuation of $251 million. Shakepay’s ownership is currently private, with the company being owned solely by its founders: Jean Amiouny and Roy Breidi.

This allows Shakepay to operate on favorable terms that benefit its users. Ownership Structure: Founders’ Stake, NEXT Canada Seed Round, Favorable Terms

In 2019, Shakepay participated in a seed round organized by NEXT Canada, which allowed the company to remain privately owned and avoid diluting the founders’ stake.

This ownership structure has given Shakepay the flexibility to operate on favorable terms that prioritize its users.

In conclusion, Shakepays revenue model, funding history, revenue, and valuation all contribute to its overall success.

With its competitive spread, interchange fees, and debit card services, Shakepay has a steady source of revenue that allows it to operate on favorable terms. The platform has attracted significant funding from reputable investors and has managed to grow its user base while remaining private.

Shakepay is well-positioned to continue to be a leading player in the cryptocurrency space. Shakepay is a fintech startup that provides easy access to cryptocurrencies with competitive exchange rates, a wallet, and a crypto debit card.

The platform generates revenue through spread, interchange fees, and affiliate commissions. Shakepay has raised $65 million in five rounds of venture capital funding, including a recent Series A funding led by Valar Ventures, giving the platform a current valuation of $251 million.

Shakepay’s private ownership, NEXT Canada seed round, and favorable terms give the platform the flexibility to prioritize its users. Shakepay’s success highlights the increasing importance of cryptocurrencies in the current financial landscape and the need for accessible and simple crypto transactions.

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