ShapeShift is a Swiss cryptocurrency service for quick exchange of tokens (purchase/sale). Its activities began in late summer 2014 under the leadership of the executive director Erik Voorhees. His team provides guarantees not only regarding the speed of exchange but also its security at the world level.
All operations are available on the site, as well as an option to download a free application for your device.
Official website: https://shapeshift.io
(Ability to install on a mobile phone).
With the development of the site, ShapeShift reviews 14 languages:
You can find information on social networks Twitter and Facebook.
How to use ShapeShift?
This service is not a typical exchange but serves as an exchange service. How to use ShapeShift? To get started on ShapeShift you do not need to create a personal account and go through a lengthy registration, you do not need to reveal your personal data, location, send copies of documents. All currency trading is instantaneous on the site or in the application.
To all written, we want to draw your attention to the fact that ShapeShift exchange doesn’t conduct operations with fiat currencies, only tokens are used. Today on the exchange about 55 cryptocurrency coins are available, including:
- Clams, etc.
Conversion is carried out in a special window on the main page of the site. After choosing the currency you need, you are provided with 2 transaction functions:
Quick – fast exchange, in which you need to enter 2 addresses (for sending and receiving).
Precise – everything is the same as in Quick, but now you need to enter the volume of tokens that you want to exchange.
There is a good plus for investors: there are no ShapeShift fees for exchanging. How does it earn money then? Everything is very simple. Earnings are due to the difference in the exchange rate when exchanging coins. However, the service has a minimum and maximum payment, depending on the chosen currency.
Is ShapeShift safe?
Security on the cryptocurrency’s platforms is the key to its success. Among the various services, there are risks of hacker attacks. So is ShapeShift safe? As this service works in the form of an exchange and doesn’t request personal data or create storage facilities, it makes no sense for attackers to hack the database and steal funds.
At the end of this ShapeShift review, we would like to highlight the positive and negative aspects of this service for 2020:
For those who for some reason can’t use this service we advise you ShapeShift alternative:
- There is no need for long and boring registration, confirmation of mail or mobile phone number;
- A large selection of tokens;
- Availability of mobile application;
- Extension for the computer browser;
- Regular introduction of altcoins into the service;
- A wide choice of language versions.
- There is no trade, only exchange;
- The site works exclusively with cryptocurrency.