We'll cover this in more detail a little later on, but it's worth noting. Shapeshift costs a little more than other exchanges typically do. Those who have had trouble have had no recourse for the recovery of their funds, and as regulations don't create a typical finance industry mandate for Shapeshift's ongoing operation, some burned users feel like they're simply out of luck. Erik Voorhees and his cadre have not always been very responsive to user complaints, and this has soured some to Shapeshift exchange. Remember, along with no Sign Up and Account, we also do away with passwords and 2-factor authentication. Furthermore, fears that outgoing user funds are temporarily held in hot wallets gives users another reason to be concerned about Shapeshift security. Shapeshift even had an employee who stole funds totaling some $200,000 in value a couple of years ago. There are numerous anecdotal reports of failed transactions and lost funds. Shapeshift is not terribly transparent about the practices they use to facilitate user trades. Of course, any popular exchange will have bad that accompanies the good. Users have many reasons to enjoy crypto trading without accounts or ID provision, and Switzerland's Shapeshift has proven that this is a reliable business model. That way users around the world can get instant resolution to their trades, without having to jump through the hoops required by centralized exchanges. Shapeshift does its job by holding a reserve of each coin they support. Voorhees's exchange was a prescient concept, as more and more crypto investors would seek out ways to trade cryptocurrencies without leaving behind a digital trail, as with centralized exchanges like Bittrex. Shapeshift exchange was founded in 2013 by Erik Voorhees, a persistent personality presence in the larger cryptocurrency industry. There are pros and cons to Shapeshift exchange, as with any platform, but it has its uses and we recommend it for certain purposes. Shapeshift tends to be more expensive than centralized exchanges, but there are no direct Shapeshift fees (Shapeshift is thought to make money by taking a percentage of the static exchange rates they charge for each transaction). Partnerships and integrations like these have people using Shapeshift without even realizing they're doing so - one of the marks of a truly useful digital technology. Shapeshift API has led to the platform being integrated with high quality cryptocurrency wallets and platforms, such as the Jaxx multicurrency wallet. For others, it's simply the most convenient way to exchange cryptocurrencies. For these users, it's a great anonymous crypto buying method. Since 2013, Shapeshift has allowed crypto-to-crypto exchanges without users having to submit their names or emails. Shapeshift exchange is one of the most convenient ways to exchange one cryptocurrency for another.
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