Shape Shift Review

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Overview

Basic Information ShapeShift is one of the new yet revolutionizing tenderfeet in the cryptocurrency galaxy. It is an instant exchange for Litecoin, Peercoin, Bitcoin, Darkcoin, Blackcoin, Dogecoin, Feathercoin, Namecoin, as… more

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Pros

  • Competitive altcoin and btc exchange rates that update in real time without any fees on top
  • Multiple languages
  • No FIAT currencies

Full Review

Basic Information

ShapeShift is one of the new yet revolutionizing tenderfeet in the cryptocurrency galaxy. It is an instant exchange for Litecoin, Peercoin, Bitcoin, Darkcoin, Blackcoin, Dogecoin, Feathercoin, Namecoin, as well as other crypto coins. As a new-fangled service, it prides itself on being the quickest way to trade between cryptocurrencies. No account registration and a split-second exchange are ShapeShift’s trademarks.

By using ShapeShift, you can instantaneously convert from one altcoin to another on your own or automatically. The exchanges usually happen in less than ten (10) seconds. Since the service pays enormous respect to one’s time, security, and privacy, the exchange does not necessitate e-mail addresses, accounts, or passwords.

Let’s say a punter is seeking to purchase Darkcoin, but she/he does want to stock (and trust) her/his cash with another entity or await deposit confirmations. What she/he may do instead is use Shapeshift to purchase Darkcoin instantaneously via Bitcoin, Namecoin, Litecoin, Peercoin, Blackcoin, Feathercoin, etc. Shapeshift is not only for spontaneous traders but also for buyers and sellers who seek a supersonic exchange of digital currencies.

Revolutionizing ShapeShift Features

What’s really exhilarating about ShapeShift is the API to integrate into your own Bitcoin service or website, permitting you to accept Litecoin, Feathercoin, Dogecoin, Darkcoin, Blackcoin, Namecoin, Peercoin, or other supported alternative coins automatically. Let’s say an avid trader joins your website and intends to pay with Peercoin, the API of ShapeShift will convert the Peercoin in Bitcoin absolutely automatically for you (known as the ShapeShift Skeleton). The best feature is that the API comes with an entire CORS support for automated programs and traders.

Additionally, there is a mobile app available, providing identical features to those accessible through the web version.

As mentioned, the exchange packs a mighty punch of numerous popular digital currencies. What we haven’t mentioned is that the guys at ShapeShift add very few at a time since they meticulously scan, analyze, and choose those with a really sustainable market cap and a superb development team. They aim at projects possessing a well-forged future.

The lens and sieve of ShapeShift are particularly strict also because there needs to be sufficient liquidity at all times. That’s why not just any coin is present at the exchange’s innovative platform.

ShapeShift Fees

From a service that permits punters to exchange cryptocurrencies without any form of registration, one might expect at least a minor fee. In fact, the minuscule amount is not a fee for the exchange but rather a miner fee necessitated to broadcast the transaction to the given coin’s network. Bitcoin transactions, for instance, at the moment of this review, request a 0.003 BTC miner fee. The BitShares (BTS) miner fee is 0.5 BTS, The Ether miner fee is set to 0.01 ETH. For a complete list, check out the “About” section of ShapeShift.

User Experience

ShapeShift.io prides itself on having perhaps the most frictionless user experience in the exhilarating space of digital currencies nowadays. Not only the need to register is off the table but the revolutionizing platform will also generate deposit addresses for its punters automatically. Besides, there exists no need for bid or ask orders since each transaction is completed as soon as ShapeShift gets one network confirmation. Once visible on the blockchain, smaller amounts will be immediately processed.

Customer Support of ShapeShift

The customer center of the platform is available via ZenDesk through which a trader can submit her/his request. The hours of operation of the exchange are from 11:30 am to 7 pm EST with limited hours on the weekend.

ShapeShift Security

As stated from the outset, ShapeShift does not store any accounts, neither passwords nor e-mails, which massively adds up to one’s security of privacy of data, which in the ever more precarious digital age is a fresh whiff of security.

Conclusion

Should you be seeking a very secure, frictionless, and supersonic way of exchanging Bitcoins and other altcoins, ShapeShift is perhaps your best decision. A slight disadvantage is that the service is not accessible to NY state residents owing to BitLicense regulations.

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