Originated in Switzerland, Shapeshift is a crypto exchange that allows users to trade the most popular cryptocurrencies in the market using a user-friendly and secure platform.
It started requiring no user registration in the very beginning, but now this policy has changed, so users have to go through registration to create a new account.
Despite this, it did not lose its’ unique feature, which is enabling traders to exchange the most popular cryptocurrencies using a non-custodial and remarkably secure way.
It has added up the possibility for users to buy crypto assets using fiat currency, through KYC and AML (Anti-money laundering) technologies.
What is Shapeshift?
Its primary work is to allow the exchange of several different cryptocurrencies between each other.
Shapeshift platform is entirely non-custodial, which means they don’t hold users’ deposits, so their funds are never vulnerable to malicious hacks.
Thanks to a partnership with Wyre, an exchange that offers crypto to fiat and compliance solutions via API and dashboard, Shapeshift gives users the possibility of purchasing cryptocurrencies via credit card (with a 3.5% rate) and bank transfer as well.
Highly focused on the security aspect, Shapeshift performs better mainly when used along with hardware wallets like KeepKey, Trezor, Ledger, and Portis.
Learn more: Everything about Bitcoin Wallets
For those unaware, hardware wallets are a type of cryptocurrency wallet where the user can store his private keys into a physical device, which ensures more security in certain aspects.
It’s a Cloud-Based Trading Platform
Shapeshift is a web-based exchange, so users do not necessarily have to download software to use it from their computers.
The platform has Chrome and Brave among supported browsers, as they can also manage to connect with hardware crypto wallets.
Another exciting possibility for users is an exclusive mobile app for Android. Although it works just like the web version, it does not support hardware wallets.
In this specific case, users are required to have an address to receive a certain amount of cryptocurrency on the exchange. It is also needed an address to return these same assets in case the trade does not take place.
Considering this, using a hardware wallet to interact with the exchange makes processes much more comfortable. Also, hardware wallets are the safest form to secure cryptocurrency-based value, indeed a must-have solution when it comes to the security of digital money.
Supported Cryptocurrencies
Shapeshift supports a vast range of cryptocurrencies, such as Bitcoin, Bitcoin Cash, Bitcoin Gold, Dash, Dogecoin, Ethereum Classic, Litecoin, Atom, Digibyte, and several ERC20 tokens as well.
Learn more: How to buy Digibyte in 2020?
It gives traders the opportunity of getting the best trading deals across different blockchain ecosystems.
KeepKey Keeps Your Coins Safe
KeepKey is the premier wallet to interact with Shapeshift, offering maximum integration, and remarkable user experience.
With an ultra-modern and minimalist design, it comes in the form of a small and convenient device that has a micro USB connection and a button to confirm transactions. Shapeshift works as a native interface for this wallet, explicitly allowing users to access all its’ features.
Learn how to use Shapeshift like a boss and earn money on exchanges.
KeepKey interacts directly into the platform, automatically managing addresses for each blockchain used for each specific transaction. It empowers users with a remarkable possibility to focus on the trades only.
There is no limit or stop orders, or other similar advanced features, which can benefit everyday users to take part in the profitable trade possibilities offered by the exchange.
Exchange Rates
Shapeshift has a fixed exchange rate, which remains the same regardless of the trading volume within the platform. It is surprising if we consider that the exchange rate comes from different market sources.
Liquidity of the highest level is integrated with different partners, like Ethos, for example. Interestingly, Shapeshift acts as the counterparty of all traders, with no exception, so users do not have to worry about order books being small whatsoever.
Keep your cryptocurrency safe with Coinbase Wallet.
It has a native loyalty token called FOX, available to Shapeshift members only. This ERC20 token is an essential piece for the platform’s performance, as it is responsible for unlocking free crypto trading between users.
The platform also offers 100 FOX tokens per month to subscribers, with no need for extra efforts by their part, allowing them to trade without fees for a value worth of $1000.
The only existing fees within the platform are used to pay network fees necessary to receive the digital assets on a crypto wallet, and the transaction costs are always shown before the user confirms the transaction.
Shapeshift is Extremely Secure and User-Friendly Trading Platform
Shapeshift is a Swiss exchange where traders can negotiate several cryptocurrencies such as Bitcoin, Ethereum Classic, Bitcoin Gold, Dash, Dogecoin, Litecoin, and others, with no trading fees whatsoever.
Any user who chooses to use Shapeshift with KeepKey will surely have a high-level user experience, offered with all the benefits of a centralized exchange (fast processes, easy-to-use interface, etc.) summed up by the safety of having his funds secured on a hardware wallet.