Shapeshift.io adds zero commission, zero spread and zero trading fees in the new platform. ShapeShift is an established cryptocurrency exchange platform that has been in operation since 2015. It aims to make switching between digital assets quick and simple.
Founded in 2014, Shapeshift is a cryptocurrency exchange that offers a crypto asset swapping service, real-time trading and hardware wallet digital asset storage on KeepKey. It now supports over 40 cryptocurrencies.
|Available Cryptocurrencies||Bitcoin, Litecoin, Ethereum, and 50+ altcoins|
How does the Shapeshift exchange work?
Shapeshift.io provides a crypto swapping service. You cannot buy cryptocurrency with fiat on Shapeshift. Using its API, wallets like JAXX are able to integrate crypto-to-cyrpto exchange into their services. ShapeShift now operates its own platform and is adding real-time trading, making it a future competitor of exchanges like Gemini and Poloniex. The New ShapeShift provides a complete crypto management system – crypto asset swapping, real-time trading and hardware wallet digital asset storage on KeepKey.
The ShapeShift beta platform provides a complete crypto swap and security solution. It includes a web-based interface to manage ShapeShift swaps, and a cold crypto wallet. ShapeShift’s new KeepKey hardware wallet seamlessly integrates cold storage asset management into the system. Cryptocurrencies can also be swapped in ShapeShift from the hardware interface.
How fast are processing times?
Although ShapeShift mentions “instant” transactions, it can take several hours for your trade to be fully processed. This appears to be the case because ShapeShift must process the transaction after the order has been received and verified by the blockchain network.
ShapeShift Trading Fees
Shapeshift.io company is completely upfront about their charging fees which vary depending on what currency you are buying. Be sure to check out the rate you will be paying on chosen currencies as they can differ depending on miner fees for each blockchain.
Provide Your Addresses
Enter your Ether address in the top box (this is the destination address where ShapeShift sends your Ether when your order is complete). Then, enter your Bitcoin address (this is the refund address that we’ll return your bitcoin to in the case your order fails). Agree to the terms and click Start Transaction! For Quick transaction types, you’ll be able to create a reusable deposit address in this step.
Choose Quick or Precise
Choose either Quick or Precise order type. Quick Orders allow you to deposit any amount of funds you’d like to the deposit address that ShapeShift provides without time restrictions while also allowing you to create a reusable deposit address. Precise Order type requires you to provide your exact deposit amount in advance. It also forces you to send and have your deposited coin confirm within a certain period of time.
ShapeShift is regarded as one of the most private crypto exchanges on the market. No account setup is required. All you have to do is type in the address of your cryptocurrency wallet to exchange one token for another.
The platform is safe to use and has not reported any cyber breaches. The company’s acquisition of the KeepKey hardware wallet greatly enhances security by giving users the ability to store their tokens offline.
ShapeShift has a dedicated support team and comprehensive FAQ section to help users troubleshoot issues. To contact customer support, select the “Support” tab and go to “Submit a Request”.
Response times are generally slow due to the constant influx of new users on the site. While the team is committed to responding to inquiries within 48-72 hours, wait times often extend beyond that.