Spare change becomes bitcoin in Canada

Mobile cryptocurrency exchange and wallet Shakepay has announced a new product that allows Canadian consumers to slowly accumulate bitcoin. Its Shakepay Change service rounds up every purchase to the full dollar. Change from the purchase is converted into bitcoin and added to a Shakepay bitcoin wallet.

If a Shakepay client would use their bank credit or debit card for the purchase of the $2.90 coffee, it would round up the purchase to 3 dollars. Ten cents would be converted into bitcoin and added to the bitcoin wallet. From there it can be transferred to other wallets without a problem.

In general Shakepay charges a 0.75 percent transaction fee for buying or selling cryptocurrencies, but deposits and withdrawals are free. Therefore this would be an easy way to slowly acquire more bitcoin, in the hopes of a new bull market.

This new service of Shakepay is currently in a pre-launch phase. It’s only available for Canadian users. The company is based on Montreal. In the US it has competition from companies like Coinflash, which has a partnership with Coinbase for crypto purchases, and Acords, a micro-investment service. Lawnmower, owned by news outlet Coindesk, is similar to Coinflash and is also tied into a partnership with Coinbase.

Originally published at NEDEROB.