Cryptocurrency Exchange Review “ShapeShift”
The company “ShapeShift” offers the opportunity for fast and secure exchange of digital coins on its platform, launched in August 2014. Today, it operates successfully in various countries around the world. The official website shapeshift.io is available in 15 languages, including Russian. In this review, we will explore the details of collaboration with ShapeShift and examine investors’ feedback on this exchange.
Review of Offers from the Cryptocurrency Exchange
“ShapeShift” guarantees users fast cryptocurrency exchange. All operations on the exchange are completed within 10 minutes, which is often highlighted in traders’ reviews.
ShapeShift company provides the option to use the service through any browser, and there is also a mobile application for conducting transactions on IOS and Android. Next, we will look at additional exchange services:
- The cryptocurrency exchange offers a browser extension called ShapeShift Lens, allowing users to buy online goods with altcoins. During online payments, all tokens and cryptocurrencies are instantly converted to Bitcoin.
- The site shapeshift.io implemented SegWit technology in 2017, strengthening the Bitcoin network’s throughput and increasing protection against DDoS attacks.
- “ShapeShift” offers the integration of the service into users’ businesses for online payments in any cryptocurrency.
- The company “ShapeShift” acquired Keepkey company in 2017, specializing in creating hardware cryptographic wallets.
- ShapeShift issued FOX in-exchange tokens that can be obtained by joining the trader community on the service.
Registration Review on the shapeshift.io Site
On the shapeshift.io site, mandatory registration or account verification is not required, but clients conducting large trading transactions may be asked to create an account for security purposes.
To register, fill out the form in the “Registration” section, provide an email, choose a password, and confirm the user agreement. After email confirmation, the account is considered created.
User Security Review on ShapeShift
“ShapeShift” claims that clients’ personal data is not stored on the exchange, making hacking the service meaningless. Hackers have nothing to steal, as all transactions take place directly between clients’ accounts.
Review of Coin Exchange on the “ShapeShift” Cryptocurrency Exchange
The “ShapeShift” exchange offers the exchange of over 50 cryptocurrencies with a high level of user demand. Users can easily perform operations on the site, selecting the desired cryptocurrency for sending and receiving.
Customer Reviews on the “ShapeShift” Cryptocurrency Exchange
Most reviews of the shapeshift.io site are positive. Users highly appreciate the presence of a mobile application, browser extension, and fast transactions on the exchange. However, some note losses due to differences in cryptocurrency exchange rates.
Review of Pros and Cons of the shapeshift.io Site
Pros:
- Mobile version of the exchange;
- Optional registration and no verification required;
- ShapeShift Lens extension;
- Wide selection of cryptocurrencies;
- Support for multiple languages.
Cons:
- “ShapeShift” does not work with fiat currencies;
- The platform is not intended for trading;
- Losses due to differences in exchange rates.
ShapeShift is a reliable cryptocurrency exchange offering convenient exchange and a high level of security. Numerous reviews confirm its popularity among users. Registration on the site is not mandatory, attracting many clients. The process of exchanging cryptocurrencies takes only minutes, which is the company’s main advantage.
Conclusion
In this review, we have looked at ShapeShift’s operations, examined user feedback, and identified the main features of the exchange. Despite the incident in 2016, due to the absence of funds storage on the exchange, users remain protected. ShapeShift continues to offer fast and convenient cryptocurrency exchange services over many years.
Author: Pavel Nekhoroshkov
Also read: Coinmama Cryptocurrency Exchange Review: Platform Functional Features and User Feedback.
I had a terrible experience using ShapeShift for my cryptocurrency exchange needs. The user interface was very complex and not user-friendly for beginners. The fee structure was also highly unclear, leaving me uncertain about how much I was spending on each transaction. I also experienced notably slow transaction times, which were highly inconvenient. Furthermore, I did not find the customer support to be reliable. Responses to my inquiries were either extremely delayed or unhelpful. After my negative experiences, I cannot recommend ShapeShift to others.