Shakepay Just Added Savings — Here's Why I'm Paying Attention
Bitcoin-backed Line of Credit is here at Shakepay
Need cash, but not ready to sell your bitcoin?
BLOC gives you another option: use your bitcoin as collateral and access funds while keeping bitcoin part of your long-term plan.
Borrow at your status rate
11.5% APR
Available to Base status
10.5% APR
Available to Bright status
9.5% APR
Available to Blue status
Shakepay has added something that makes the platform considerably more interesting to me:
Shakepay Savings.
The idea is pretty straightforward.
You can separate money into a savings account inside Shakepay, with options for both CAD and Bitcoin savings.
But the interesting part isn't simply having another place to park money.
It's how the rewards work.
Bitcoin rewards can go straight into savings
Shakepay allows eligible Bitcoin rewards, including interest payments, to be routed into Bitcoin Savings.
That creates a pretty interesting setup.
Instead of earning Bitcoin and immediately spending or selling it, you can essentially create a separate bucket dedicated to accumulating it.
That's something I like.
I'm trying to separate money I use from money I'm trying to accumulate.
The harder it is to casually spend something, the easier it can be to leave it alone.
The CAD side is even more interesting
Shakepay currently says Blue customers can earn 5% on the first $100,000 CAD in Savings for a limited time, with amounts above that earning the regular 3% rate.
Interest is paid weekly in Bitcoin.
That's a very different proposition from simply holding cash in the normal account.
But there is an important distinction:
The interest isn't being paid to you as additional Canadian dollars.
It's paid in Bitcoin.
That means you're effectively earning a return while also taking Bitcoin price exposure on the interest.
That's worth understanding before treating it like a normal savings account.
This isn't the same as buying Bitcoin
That's probably the part I find most interesting.
If I put $1,000 into Bitcoin, I'm taking the risk on the $1,000.
If I'm earning Bitcoin as interest on cash I intended to hold anyway, I'm accumulating Bitcoin through the return rather than using additional money to buy it.
It's a subtle difference.
And it's exactly the type of thing I'm interested in experimenting with.
I'm not moving everything to Shakepay
I don't think that's the right takeaway.
Different accounts have different purposes.
For me, the interesting question is whether Shakepay can become one piece of a larger system:
Cash I need → savings
Bitcoin rewards → Bitcoin savings
Everyday spending → Bitcoin cashback
Daily habit → ShakingSats
Friends' spending → ShakeSquad rewards
None of these individually are revolutionary.
But stack several small rewards together and the economics start getting more interesting.
I'm going to see how much Bitcoin I can actually accumulate this way.
Because that's a much better experiment than simply asking whether an app is "good."
I want to see what it actually produces.
