ShapeShift is a Swiss-based digital currency exchange that was founded in 2014. From start to finish, it enables users to quickly exchange Bitcoin, Ether, Litecoin and 70+ other digital currencies with no account required.
ShapeShiftone of the world’s fastest ways to exchange cryptocurrencies and blockchain assets.. Using this service, users can exchange cryptocurrencies in a matter of seconds. ShapeShift drastically reduces the risk of stolen funds and increases privacy as it requires no account or personal data to use. The service has a strict “no fiat” policy, meaning that it cannot be used to purchase cryptocurrencies with credit/debit cards or bank accounts.
A Visionary Leader
Erik Voorhees, CEO of ShapeShift AG is among the top-recognized serial Bitcoin advocates and entrepreneurs, who believe Bitcoin as one of the most important inventions ever created by humanity. He has already been a featured guest on Bloomberg, Fox Business, CNBC, BBC Radio, The Peter Schiff Show, and numerous other Bitcoin and industry conferences. Erik humbly suggests that there is no such thing as a “free market” when the institution of money itself is centrally planned and controlled. Back in August 2014, Erik founded ShapeShift AG as an elegant, secure, and fast solution to digital asset exchanges. Prior to the creation of ShapeShift, buying digital assets was a lengthy process that required account creation and forfeiture of personal data to the service provider. Erik’s past blockchain company affiliations include: BitInstant, Coinapult, and SatoshiDice, which was responsible for most of the Bitcoin transactions in 2012 and 2013.
An Instant Way to Exchange Different Assets
ShapeShift provides users with an instant way to exchange between different cryptocurrencies or, digital assets. The best part of its service is that it doesn’t require any accounts, and the only thing the user needs to utilize the service is wallets for both receiving and outgoing coin. Thanks to the exclusion of accounts, users now don’t have to worry about any of their data being compromised or shared and it removes extra time the user would have to spend to sign up and get approved. The user also doesn’t have to worry about ShapeShift losing their funds as the service is non-custodial, meaning the exchange does not hold user funds. Once a user starts an exchange, it completes within a few minutes.
Another of ShapeShift’s products is CoinCap.io, a real-time market data website. Its service is also available for mobile devices and allows users to send themselves price notifications and create alt-folios so they can keep up with the amount of digital assets that they have on hand.
Prism is the newest product from ShapeShift. It is an Ethereum smart contract-based portfolio asset manager. Prism is the world’s first trustless asset portfolio platform, enabling users to create portfolios of digital assets, such as Bitcoin, Litecoin, Ethereum, Dash, Monero, & Golem, without counterparty risk. In a matter of minutes, an investor can create their crypto portfolio, gain exposure to a wide range of blockchain tokens, and secure their investment without having to maintain unique wallets for each asset.
In the mid-2017, ShapeShift also acquired hardware wallet provider, KeepKey. The company is a hardware cryptocurrency wallet provider, which helps users to hold multiple funds securely.
Taking Security Very Seriously
Security, ease, and speed are three of the top points for ShapeShift. As the organization never collects any of its user data, the users’ information or money is always safe, even during cyberattacks. ShapeShift takes the point of client security very seriously across all the products it provides. The ease is also a big thing to note. The digital asset space is very confusing to the layman and the organization strives to create products that are easy to use so as to dissolve barrier of entry. That’s not all, by removing account creation and approval, ShapeShift provides all the control to users and makes it much more faster for them to do the needed exchange. By not requiring them to create accounts or put up bid and ask orders as they would have to do via a traditional exchange, the organization has removed any additional time and confusion component.
Additionally, the organization doesn’t hold user funds and allows instant exchange access since ShapeShift doesn’t require any users to set up bid and asks, which can in turn take an additional knowledge set as well as more time. It also has a very robust 7 day a week customer support team which allows ShapeShift to assist customers quickly.
Tackling Tough Days & Painting the Bright Future
The biggest struggle ShapeShift has had is scaling its team as the month over month growth has been a challenge for all companies in the cryptocurrency industry.. However, ShapeShift’s team of engineers, support and other teams continue to rapidly grow to keep up with demand.
ShapeShift believes that the digital asset space is evolving very quickly. Every month is completely different from the last and most of the plans and future ideas evolve just as quickly. . ShapeShift will continue to develop blockchain products after finding more things that its customer base needs.