Shapeshift - exchange review and user reviews

Despite a certain decline in the popularity and demand for digital coins, many users continue to actively use them. This is facilitated by the specific features and capabilities of cryptocurrencies. Often there is a need to exchange one type of crypt for another type of coin. What to do?

There are a couple of most typical ways to carry out this operation:

• use the services of a crypto exchange, however, this procedure is complicated, since it requires registration, verification, searching for a good coin rate, etc. Confirming your identity can take weeks or months, and this is too long;
• go to the monitoring resource and search among the online exchangers presented there for the necessary directions that suit you in terms of profitability. You probably won’t be able to find good quotes right away, and if you find them, you will need to register. This case is also unacceptable.

There is also a little-known, although reliable and profitable project that specializes in cryptocurrency exchange - this is ShapeShift .

Official website: shapeshift.io.

The trading volume is 56 BTC with 811 transactions. Average application processing time: 537 seconds.

It is often mentioned in reviews of cryptocurrency wallets (UberPay, Coinomi, Jaxx, Exodus, and Mist) and has an excellent reputation. It is not for nothing that such well-known digital coin wallets cooperate with this cryptocurrency exchanger. Let's take a closer look at all the key aspects affecting this virtual currency conversion service.

Features of the ShapeShift project

1. The online exchanger is based in the Swiss town of Geneva. The beginning of the history of ShapeShift.io dates back to 2014 (August). The main task, which the developers professionally implemented, is the instant conversion of various altcoins and bitcoins while maintaining the maximum level of security for their own clients.

2. There is no need for clients to create accounts or provide private information about themselves. The project provides virtually absolute anonymity. The company's slogan, reflecting its exceptional policy, is the phrase “No fiat”. It means there are no options for working with any fiat currency, banking structures, or government agencies. Even the police will not be able to find out anything about ShapeShift's clients. To receive some preferences, you should fill out a registration form, however, the accuracy of the information is not controlled.
3. There is an opportunity to become a member of the FOX club, the program of which applies to all ShapeShift branded products. It is necessary to purchase FOX tokens and keep them in a crypto wallet for at least 30 days. During this period, the client is provided with benefits, preferences and additional opportunities.

4. It is possible to purchase BTC through credit cards for euros or dollars, since ShapeShift cooperates with the Bitcoin payment company Simplex.
5. A special feature of the Swiss cryptocurrency exchange service is the well-functioning system of anonymous, profitable and fast conversions Skeleton Exchange. This tool is capable of transforming any web resource into a cryptocurrency exchange. Skeleton Exchange will be an intermediary “bridge” connecting the interests of the seller and the buyer’s capabilities during conversions. Moreover, a significant feature of the platform’s functioning is considered to be complete inviolability of client funds.
6. Exchange services of the ShapeShift service are available to absolutely everyone and the project operates without time restrictions or prohibitions in other countries. The service will make the exchange wherever the client arrives - at work, on vacation, at home, on a business trip, etc.

Important! There is only one place where you cannot use ShapeShift.io - Washington (USA). Recently, stupid slackers from the American Congress came up with the idea of ​​introducing a ban on anonymous work with any online projects, including exchange services. To obtain a permissive license, ShapeShift must collect and submit all customer data on a regular basis. This policy contradicts the idea of ​​the service, which is why the exchanger does not work in this state (especially in the American capital)!

Features of ShapeShift

High efficiency of the project is achieved due to the fact that the user has the ability to quickly switch between assets while being in a holistic and safe environment. All operations are performed in real time, taking into account the latest changes in the cryptocurrency market. The interface is simple and not much different from other popular exchangers.

ShapeShift services are available to absolutely everyone, and the project operates without time restrictions or bans in other countries. The service will exchange coins wherever the client is - at work, on vacation, at home, on a business trip, etc.

The project has a good translation into the languages ​​of several countries:

Europe (English, French, Spanish, Italian, German, Portuguese and Polish); Asia (Arabic, Chinese, Japanese and Korean); Russia and Ukraine.

A mobile application for iOS and Android is available on the site. This is a significant advantage for users who prefer to use their phone to exchange digital assets rather than taking the time to perform the same operations on a PC.

In addition, the creators of the project have made an extension for Firefox and Chrome. In this regard, a special plugin appears on the page where payment is made. With it, you can pay for purchased goods with altcoins, which are automatically converted into bitcoins.

Benefits of ShapeShift

The service also supports the Segregated Witness protocol. This is an updated protocol that solves the problem of flexibility of currency transactions on the Bitcoin blockchain. In addition, using this protocol increases the throughput of ongoing transactions.

Since its launch, ShapeShift has added valuable products to its ranks, including:

• Online store of crypto assets;
• Statistical site (for example, CoinMarketCap);
• Cold wallet.

So, for large transactions in the ShapeShift.io online store, you need to register on the site. The CoinCap page displays real-time cryptocurrency market analysis. The KeepKey hardware cold wallet can be purchased on the website.

You can purchase BTC using credit cards for euros or dollars, as ShapeShift works with the Bitcoin payment company Simplex.

ShapeShift does not have so-called price lag. In case of failure for any reason, funds will be returned to the sender's address. You can choose the most convenient exchange option. If you want the fastest option possible in the system, you only need to provide the sending and receiving wallet addresses. If you need an exact currency exchange, then you need to specify the number of coins and addresses for one-time use. To improve the exchange process, the site contains data on the price of cryptocurrency, indicates the change in rate as a percentage, and provides statistical information on exchange operations. The exchange accepts materials about cryptocurrency rates on a coincidence basis.

There is also the opportunity to become a member of the FOX Club, the program of which applies to all ShapeShift branded products. It is necessary to purchase FOX tokens and store them in a crypto-wallet for at least 30 days. During this period, the client is provided with benefits, preferences and additional opportunities.

A special nuance of the Swiss cryptocurrency exchange service is the well-functioning system of anonymous, profitable and fast conversion Skeleton Exchange. This tool can turn any web resource into a cryptocurrency exchange. Skeleton Exchange will act as a bridge between the seller's interests and the buyer's ability to convert. Moreover, the complete inviolability of client funds is considered an important feature of the functioning of the platform.

Statistics for the day

The total number of exchanges per day can vary greatly. All data is presented on the website. The daily volume of Bitcoin converted at the time of writing was 7.1 BTC. The platform does not have its own cryptocurrency markets and does not provide internal trading.

One of the first partners was the Jaxx crypto wallet. The collaboration between these two projects was announced in the summer of 2016. Back then it was possible to exchange Bitcoin, Ethereum and Dash for each other. Since then, the list of digital wallets has been expanded to several dozen, such as ZCash, Ethereum Classic, Litecoin, etc.

ShapeShift specialists today identify 3 key disadvantages. In fact, they are determined by the original policy of the exchange service, which forms its exclusivity and uniqueness:

• There are no exchange operations with ICO tokens. Clients who plan to make money on profitable investments in new blockchain projects are forced to work on other cryptocurrency exchanges;
• Exchange limits for each cryptocurrency are set in the rules of the exchange resource.
• The project does not work with fiat money. An exception is the payment company Simplex, through which you can convert euros as well as US dollars into bitcoins. Customers must purchase and exchange another order option with third party crypto exchanges or exchange services.

Benefits of ShapeShift

The features of the project are incredibly attractive, however, a number of clarifications and other positive qualities inherent in the ShapeShift cryptocurrency conversion service should be considered:

• good security of personal information, since no information is required to be specified at all. Registration is exclusively voluntary and no one requires reliable information;
• the exchange of bitcoins and altcoins is carried out extremely quickly due to the absence of many secondary stages. The Skeleton Exchange tool does not require registrations or verifications, but directly connects users who want to sell and buy cryptocurrencies. The average duration of automatic order processing is 1070 seconds. (15-17 min);
• profitable one-level affiliate program. This program is designed for website owners that are integrated with the exchanger’s proprietary API. The reward is equal to 0.25% of the volume of bitcoins made through the affiliate link;
• a large number of alternative conversion directions. For example, popular ones include: bitcoin-ethereum (BTC-ETH), bitcoin-ripple (BTC-XRP), bitcoin gold-bitcoin cash (BTG-BCH), dash-dogecoin (DASH-DOGE), etc. 43 cryptocurrencies are available today and another 23 altcoins are planned to be introduced soon on the platform for use;

Nuance! The ShapeShift exchanger is characterized by a wide partner network with similar platforms, which allows you to quickly find the desired exchange direction!

• There are no commission fees on the service. A unique situation. The site charges a tiny percentage for transactions, but this fee is paid to the miners who supply bitcoins and altcoins. The main profit of the site is made by specialists on cryptocurrency exchanges. The absence of commissions makes ShapeShift.io the most convenient, profitable and promising online exchanger today. Analogues of this financial instrument for converting virtual currencies are not yet found on the Internet;
• convenient work opportunities. You can use special extensions for desktop browsers, branded crypto wallets, mobile applications, etc.

Of course, the set of positive qualities is not limited to the above features and advantages of the project. Some positive aspects will be highlighted further, but for now the most striking disadvantages of the project require consideration.

Shapeshift converts KeepKey hardware wallet into an exchanger

Hardware wallet maker KeepKey has announced a partnership with exchange platform Shapeshift. This makes KeepKey the first hardware wallet with a built-in exchanger.

First hardware wallet with Shapeshift API integration

The collaboration with Shapeshift will allow KeepKey users to securely exchange funds directly on the device. The exchange will be done through Shapeshift, giving KeepKey users the ability to store digital savings like Litecoin and Dogecoin. In the near future, the new union promises several innovations.

KeepKey is the first hardware wallet to be integrated with Shapeshift. This is an unprecedented step in the history of cryptocurrencies and will allow users to exchange currencies without even having to reveal their private keys. The manufacturing company is confident that this is a very important stage in the development of the blockchain industry, and the team believes that this step gives their products additional value.

KeepKey Managing Director, Darin Stanchfield, says:

“Since the security of digital savings is the main goal of the KeepKey team, we are trying to make life easier for the ever-growing number of our customers who buy, sell and simply store various cryptocurrencies. They can now exchange any available currencies as needed, without having to create multiple wallets or addresses, or relying on third-party exchange platforms. As for traders, the speed and efficiency of the process itself increases significantly.”

Works even on weak computers

Shapeshift has long established itself as an instant cryptocurrency exchange, and today the platform's API is used by almost 50 blockchain companies. According to coincap.io, only 20 major cryptocurrencies have been increasing in value over the past few months due to security concerns, but both companies believe it's time to fix the problem.

KeepKey claims that exchanging directly on the device is very simple. The user unlocks the wallet and sees in front of him several of his own accounts, where it is possible to transfer funds directly from account to account. In addition, it is worth noting that the entire process occurs quite smoothly even on unprotected computers, since private keys simply do not come into view.

“KeepKey is a one-stop solution for both cryptocurrency users and frequent traders,” says Stanchfield. “This is a digital storage facility that cannot be accessed. The ShapeShift team has developed an incredible platform for exchanging these financial instruments, and today we are pleased to offer you a combined solution - the result of a collaboration between the two companies."

Shapeshift Managing Director, Eric Voorhees, is also confident that this collaboration will bring many new benefits to the cryptocurrency community. He claims:

“Simplicity and security are the cornerstones of any growing industry. KeepKey is smart about what it does, and now, thanks to cooperation with ShapeShift, these benefits will be available to a wider range of users.”

KeepKey and Shapeshift are planning even more useful implementations in the very near future, and are confident that their collaboration will allow for more flexibility and provide more security to the cryptocurrency market.

What do you think about the collaboration between KeepKey and Shapeshift? Do you use the products and services of these companies? Please tell us in the comments.

Disadvantages of ShapeShift

ShapeShift specialists today identify 3 key disadvantages. In fact, they are determined by the initial policy of the exchange service, which forms its exclusivity and unusualness. After all, the negative points here are:

1. Trading and exchange operations with ICO tokens are not provided. Clients planning to make money from profitable investments in new blockchain projects are forced to work on other cryptocurrency exchanges;
2. exchange limits for each cryptocurrency are established in the rules of the exchange resource. For example, if there is no voluntary registration, then a one-time BTC conversion is allowed with a min of 0.0001085 BTC and a max of 0.8818593 BTC per exchange. There are similar restrictions for every crypto coin;
3. The project does not work with fiat money. An exception is the bitcoin payment company Simplex, through whose system it is possible to convert EUR, as well as USD to bitcoin. Clients have to purchase and exchange another version of fiat on third-party crypto exchanges or exchange services.

Registration on the ShapeShift platform

officially create an account with the ShapeShift exchanger . Small transactions can be performed without registration and identity verification. No real email required. However, when large and frequent cryptocurrency exchanges are carried out, the administration will strongly ask you to go through a registration procedure.

Firstly, the client needs this so that in case of force majeure he can easily return the lost amount. And secondly, it’s easier for the managers of the ShapeShift site to maintain internal accounting to track expenses/income. There is no need to be afraid, because in any case the data will not be made public, and you can provide fake information altogether.

Those who wish to significantly increase the possible daily and monthly cryptocurrency exchange can perform the simple steps of creating an account on the main page of ShapeShift.io.

Benefits of registering with ShapeShift! This will give you the 1st level of partnership, a daily conversion limit of $10,000, 100 FOX tokens, favorable exchange rates, priority access to new altcoins, as well as a 0.05% reward in FOX coins from large financial transactions and much more. etc.!

When registering a ShapeShift account, the sequence is as follows:

1. at the top right of the main page, click on the “Registration” button;

2. enter email;
3. specify the password twice;
4. solve captcha;
5. read the exchanger’s operating conditions and service policy;
6. click “Subscribe”;

7. wait for the system letter in which you need to click on “Verify My Email”.

Everything is elementary. By the way, there is a way to register through a Google account, which is a little easier. Then you can simply carry out conversions or use additional services on the project and use its useful capabilities if necessary.

Crypto exchange ShapeShift has introduced mandatory user registration

Swiss cryptocurrency exchange ShapeShift, which was famous for not collecting personal data about its clients and exchanging one virtual currency for another, is changing the rules of the game. The site announced a membership program for users that requires registration.

“We are introducing a new membership program that will provide users with more benefits and a better user experience,” the project team wrote on Twitter.