This ShapeShift review has nothing to do with the futuristic T-1000 from the Terminator 2. It concerns the new ‘shape’ of money that everyone’s heard about. We’re talking about digital currency. More specifically, cryptocurrencies and the need for an outlet to exchange one form for another. This is where the ShapeShift Cryptocurrencies Exchange comes in.
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Table of Contents
Shapeshift Review Introduction
ShapeShift is a cryptocurrency exchange that started in 2013. The founder is Erik Voorhees. The Swiss-based company is popular with millions globally to exchange digital assets quickly and easily. So, yes, it’s a safe crypto broker.
Our ShapeShift review looks at what you can expect from a cryptocurrency exchange. If you’re into Bitcoin, you’ll want to learn how to exchange crypto.
Cryptocurrency is a hot-button topic. It’s a sector that can be manipulated. As a result, make sure you trade it with proper risk management.
After all, you don’t want to blow up your brokerage account. ShapeShift is very simple to use. You can swap out cryptocurrencies nearly instantly.
There’s no need to provide personal info or wait long for account creation. To sum it up, ShapeShift can do business without KYC (Know Your Customer) because no fiat currency is involved. The exchange strictly does crypto-to-crypto transactions.
Litecoin
For example, you want to order pizza from a restaurant that accepts Bitcoin but only owns Litecoin. You can head over to ShapeShift.
Select Litecoin as the Deposit amount and Bitcoin as the Receipt amount. Then do your exchange and enjoy your pizza.
ShapeShift has mobile (both Apple & Android) and desktop platforms. However, fewer cryptocurrencies are available for exchange on the mobile app.
This is due to rules and regulations of the app stores, not any policy by ShapeShift.
Truly an international exchange, the ShapeShift crypto exchange site is available in 15 major languages. The service is accessible in the USA as well as globally.
Check out a list of the best crypto wallets. However, it is blocked in some states, like New York and Washington, due to state regulations.
What Is Bitfract?
This free tool enables users to exchange one cryptocurrency for multiple cryptocurrencies in one transaction. For example, let’s say you have Bitcoin, but you want to diversify that into several other cryptos. You don’t have to do several transactions. Instead, you can do it all at once with the Bitfract tool.
Coincap
This free tool provides real-time market data on every cryptocurrency under the sun. They appear listed in order of popularity.
However, the search feature enables you to locate data on more obscure digital assets quickly and easily. So you don’t need to scroll through a list of 1000+ cryptocurrencies.
Moreover, clicking on the name of any crypto provides you with charts and even more market data.
Keepkey
The KeepKey wallets, compatible with Mac, PC, Linux, and Android, are designed for secure storage of cryptocurrencies. At the time of this writing, the KeepKey wallet costs $79.
Purchase BTC With a Credit Card
ShapeShift continues to grow and expand its services. The company has partnered with Simplex to enable users to purchase Bitcoin using a credit card.
Partners and Affiliate Programs
For those who wish to become a ShapeShift Partner, ShapeShift API integration and an affiliate program are available. Currently, the commission paid to affiliates is 0.25% /mo. Based on the total Bitcoin volume provided by your integration.
COURSE |  |  |  |
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| DESCRIPTION | Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action | Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading | How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading |
| INCLUDED | Daily watch lists • Trade rooms • Trading scanners • Discord • Live streaming Day Trading > | Daily watch lists • Trade rooms • Options scanners • Discord • Live streaming Options > | Futures target levels • Trade rooms • Real time teaching • Discord • Live streaming Futures > |
Shapeshift Fees and Pricing Review
Our ShapeShift review takes a look at the exchange fees you can expect. ShapeShift currently facilitates the exchange of over 30 cryptocurrencies. They range from the wildly popular to the more obscure.
You can exchange Bitcoin, altcoin,r altcoin, or altcoin for Bitcoin, whatever you want. If it’s on their list of cryptocurrencies, you can exchange it. For example, cryptos like Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Zcash, Dash, Ripple, and Monero are among the many choices.
ShapeShift is a non-custodial exchange. They won’t hold your cryptocurrencies for you. Therefore, this makes your transactions with ShapeShift more secure from hacks.
Because the exchange is not holding onto deposits, ShapeShift exchanges your cryptos and then sends them back to you at the address you supply.
Provide your wallet address or your account with another exchange currently holding your cryptos. Here’s a list of bitcoin stocks.
Highlights
- ShapeShift exchange rates are inexpensive. What you see is what you get in terms of exchange fees.
- They make a small percentage from the updated spreads in real time. And there are no other fees except the miner fees set by the blockchain network.
- Like similar crypto exchanges, ShapeShift has upper and lower transaction limits. However, they don’t post the exact amounts on their site.
- If you somehow breach ShapeShift exchange limits, they automatically return your funds to you. However, you can become a member if you wish to raise your limit to make larger exchanges.
Shapeshift Competition Review
An article in Forbes states that active crypto traders use over 200 cryptocurrency exchanges. Did you know that there are over 1600 cryptocurrencies?
Most of the trading volume, however, comes from very few cryptos. And it’s the same with exchanges servicing the crypto world.
Only a few are behind most of the transactions. At least ShapeShift is among the top ones.
For example, ShapeShift’s primary competitor is Changelly, a similar instant exchange. These two names promptly come to mind when a need to quickly swap cryptos arises.
In a ShapeShift vs Changelly showdown, I’d say it’s a tie. It all depends on your personal preference. For example, Changelly currently offers more cryptocurrencies. However, ShapeShift’s fees may be slightly less.
Final Thoughts: ShapeShift Review
Erik Voorhees, ShapeShift founder, said a telegraph across the ocean 100 years ago was faster than sending a bank wire today. The promo for Ripple, a popular cryptocurrency, says it’s faster to get on a plane and fly money across borders than it is to send it as a digital payment through a bank.
That may be true. After all, when we say crypto, we mean a digital currency. One that the banks do not regulate. However, it’s regulated, albeit differently.
And because it operates independently of a central bank, the exchange from one form of crypto to another is fast. Nonetheless, when you need hard, cold cash, ShapeShift can’t help you.
