One case that saw ShapeShift’s rating go down was the revelation that Wanacry ransomware attackers used the exchange to convert their Bitcoins to Monero, a coin that is fully dedicated to optimal security. However, this commitment to anonymity has also partly worked against the exchange. Unlike other exchanges such as Bittrex that require users to register for trading accounts and verifying them with government-recognized information such as proof of identity, ShapeShift’s commitment to help traders operate anonymously has won it a high rating in the community. The crypto community is especially amazed by Shapeshift’s focus on enhancing anonymity. Though the exchange has suffered its fair share of attacks especially in 2016 when 5800 ETH, 1900 LTC, and 469 BTC were lost, the structural improvements such as the change of security protocols implemented by the development team were impressive. The ShapeShift founder’s vision of simplifying cryptocurrency trading and a determined team make the platform a great option for both experienced and new crypto enthusiasts. The focus of ShapeShift is ensuring that its users have the most secure and reliable platform for storing and trading their coins. With KeepKey, users do not have to leave their tokens on the computer ,” Voorhees posited. “With ShapeShift, you do not need to leave the coins on the exchange. The acquisition was strategic in giving the platform a competitive edge in the market. In August 2017, ShapeShift made a major stride by acquiring the Seattle-based hardware wallet referred to as KeepKey. By July 2018, the supported ShapeShift’s list of coins had grown to 103. Though it only supported a few coins at its launch, the list grew to 40 cryptocurrencies that provided more than 940 trading pairs by 2015. The founder wanted to simplify the process of acquiring cryptos by making ShapeShift easy to use like a “vending machine” where everybody can go and use it with ease. ShapeShift is a cryptocurrency exchange created in 2013 and launched in 2014 by a blockchain enthusiast, Erik Voorhees. Welcome to discovering more about ShapeShift and making the right trading decision. This ShapeShift review is a comprehensive review of the exchange to establish how it works, its security, and help the crypto community establish whether they should use it or not. Some people have started asking questions such as: “Is ShapeShift the best crypto exchange that it claims to be?” ShapeShift is a leading cryptocurrency exchange that has cut a name for its security, unique features, and focus on privacy.Įven as more traders and crypto communities express their thrill of ShapeShift, a closer look at listed controversies such as the recent revelation by Wall Street Journal that it processed about $9 million from criminal activities in 20 have cast a negative shadow on it. To trade or buy cryptocurrencies, you need a crypto market. ShapeShift Review: Is It The Best Crypto Exchange Today? Source of Image:
0 Comments
Leave a Reply. |