ShapeShift is a cryptocurrency exchange platform that was founded in 2013 by Erik Voorhees. The main idea behind this Swiss-based company was to simplify the process of attaining cryptocurrencies. While It only supported few coins in the beginning, the supported list grew to over 100 cryptocurrencies today including the most popular like Bitcoin and Ethereum.
In our ShapeShift review, we have conducted an in-depth analysis of features, fees as well as pros and cons so that by the end you can be sure if this cryptocurrency exchange Is good for you.
ShapeShift has created a system that does not require registration for exchanging cryptocurrencies. You can do so if you wish to achieve some of the high-tier benefits such as no daily/monthly limits. The company claims it does not retain user data in order to support anonymity on the platform.
After some controversies regarding its fees in the past, ShapeShift seems to have reworked the entire system from the ground up. To increase transparency, they have put up the entire list of the charges. There are no transaction charges, there is only the miner’s fee. Unlike some other exchanges that charge a fixed amount, ShapeShift charges different amounts, depending on the currency you are trading in.
If you are hoping to learn something and get a deeper understanding of the world of cryptocurrency, you will have mixed emotions. There doesn’t seem to be a wide variety of educational material on offer, but the Blog section seems to be one of the standout features of the entire website.
From the beginning, ShapeShift wants to make it clear that both novice and expert traders are welcome. The blog contains several sections, each with fresh and valuable articles for traders of all levels. Articles are on point and quite punchy.
After such a good start, you find yourself asking for more. Practically apart from the Blog section, there isn’t anything else. People who like to check out the FAQ page will be disappointed because it is rudimentary at best. We are sad to see that passion and expertise are lacking to its fullest. We can only hope that ShapeShift continues to build on this solid foundation.
ShapeShift keeps it simple technology-wise. Emphasis is placed on smoother and safer execution rather on additional bells and whistles and we applaud this choice. Everything is laid out logically and you will have no problem exchanging your cryptocurrencies on this platform.
There is a big emphasis on the mobile app they have developed. Most people will prefer the desktop experience, but it is always welcoming to know you can access ShapeShift services when you are not near your computer.
We were in shock after seeing the state of customer support at ShapeShift. Nobody likes encountering issues when working with money, and the fact that you feel completely helpless does not help. The company offers no address or telephone number to call.
You can only reach them via ticket system that is painfully slow and inefficient. Truth be told, we didn’t have any issues, but when we do, we knew it would be a long time before we could get back on track. This lack of care for clients was really puzzling given how ShapeShift excels in some other areas.
ShapeShift offers a cryptocurrency exchange service. This means you cannot buy coins here. On its platform, there is now an option for real-time trading in addition to crypto asset swapping. You also need to be aware that ShapeShift just provides a platform on which you can exchange them to some other.
Can We Recommend ShapeShift?
This ShapeShift review shed some light on one of the oldest currency exchanges. While security and executions are flawless, we cannot recommend this exchange due to their severe failings. You might have a good time while everything is working as it should, but the moment you encounter an issue, you will see just how painful the absence of any customer care really is.