What is ShapeShift?
The short answer is…your new favorite tool!
If you have invested in or actively traded cryptocurrency, you know that sometimes making trades and swaps between tokens can be difficult. In order to make trades, you have to set up an account with a trading platform and send your funds to the exchange to make the trade. This can be problematic for a few reasons.
First, many cryptocurrency investors don’t want to go through the hassle of setting up a trading account and providing the company with detailed personal information. Cryptocurrency advocates value privacy and many exchanges require you to undergo an extensive verification process.
Second, leaving your funds on an exchange can make them vulnerable to theft or loss. Leaving your funds on a centralized exchange means that they have control over your private keys and all of your cryptocurrency.
Lastly, it just isn’t that convenient. Most exchanges require you to trade in either Bitcoin or Ethereum markets. This means that if you want to trade Litecoin for Dash, you have to first trade your Litecoin for Bitcoin, and then your Bitcoin for Dash.
Wouldn’t it be great if you could just swap Litecoin for Dash, without all the hassle?
That is exactly what shapeshift.io allows you to do!
ShapeShift makes swapping between two cryptocurrencies a breeze. ShapeShift is a company that offers global trading of a variety of digital assets via web and mobile platforms.
ShapeShift is not an exchange platform in the traditional sense and the type of service it offers is sometimes referred to as a cryptocurrency bridge or gateway. ShapeShift allows you to exchange cryptocurrency at market price without ever leaving your coins on a cryptocurrency exchange. You simply choose the altcoins or blockchain tokens you would like to exchange, input your receiving address, and send your funds. You don’t even need an account to make the trade.
These services are incredibly convenient for quickly swapping tokens. In fact, several popular cryptocurrency wallets like Exodus and KeepKey have ShapeShift already integrated into the wallet, making it even easier!
How Does it Work?
To exchange cryptocurrencies with ShapeShift, you are not required to give them any personal data like your name, your location or your email address. When transacting using ShapeShift, users simply specify the currency they want to exchange and where to send the exchanged coins to. ShapeShift will send the exchanged coins once it receives the payment. The exchange rate used by ShapeShift is derived from several market sources and it always stays the same, regardless of the volume trade.
ShapeShift is an incredibly fast and reliable way to swap between popular tokens. It is perfect for the casual investor who wants simplicity and the crypto aficionado who wants quick and safe transactions. ShapeShift is sure to become one of your favorite crypto tools!
To use ShapeShift or to learn more about the services they offer visit shapeshift.io