ShapeShift is a new kind of service that offers instant exchange for a host of cryptocurrencies. Launched in July 2014, this innovative platform prides in being the fastest way to trade between the digital currencies, beating the conventional method of trading online. This website is designed to cater to several markets, having been optimized to be viewed in as many as 12 languages.
Private and Convenient Exchange of Cryptos
When Bitcoin users, for example, wish to swap their coins for Dogecoin, they must go through a quite lengthy process of trading and bidding online. This may even take some time before the process is completed, given that some exchanges would require other steps before the transaction pushes through. With ShapeShift, it only takes less than 10 seconds. It is so quick, that you will absolutely be amazed at the rate each conversion happens. Of course, the speedy processing of exchanging cryptos is a result of the smart setup and technology used. You simply have to indicate in the input box the cryptocurrency you have, and the one you wish to receive in the output box. Key in the receiving address and then click the Start button to activate the swap and receive the converted amount straight to the receiving wallet. To make it more convenient, the deposit address may be reused to convert and send the amount to the same output address.
No ‘Price Slippage’ Feature
Perhaps one of the biggest flaws that may result from this setup is the erratic price conversion. Fortunately, this platform has worked around to prevent this from occurring. Therefore, the exchange rate, for any cryptocurrency covered for that matter, will always remain competitive. There may be slight variations in the price, but this is due to the fact that the rate is determined only when the deposit is received.
There is no account needed in order to exchange, so the time spend in logging in or registering an account is already eliminated. Moreover, there is no need to supply an email address or even a username and password to experience the services offered here. Thus, anonymity is at hand.
Long List of Accepted Cryptocurrencies
Unlike in most Bitcoin and cryptocurrency exchanges, ShapeShift covers a wide range of digital coins. Aside from Bitcoin, cryptocoins like Litecoin, Peercoin, Dogecoin, Darkcoin, Namecoin, Blackcoin, and Feathercoin to name a few are accepted on this platform. As such, traders should not have that much trouble in converting their virtual coins for whichever cryptocurrency they prefer to have.
Of course, a good to excellent customer support service is essential for any Bitcoin business like this one to be trusted by the public. In the case of this instant exchange service, a live chat feature is available for quick responses. Likewise, an email address is provided for further questions and concerns.
It is clear that ShapeShift is an innovation in itself. This website simplifies the way you can exchange one cryptocurrency for another—a method that is a leap from the predominantly tedious conventional way. With this new service readily available for users worldwide, there should be no problem at all in enjoying instant and convenient swapping of coins.