Are you on the lookout for a new and efficient trading platform for cryptocurrencies? If the answer is yes, then you could have perhaps landed in the right page. We will be talking about a new trading platform by the name Shapeshift. It is basically a new entrant, but within a short period of time they have been able to make their presence felt quite strongly. Hence, it would be interesting to know more about this 3wtrade platform. It will be useful for those who are looking out for new trading platforms for buying and selling cryptocurrencies of different types and kinds.
Some Basic Information About Shapeshift
This is basically a Swiss exchange that offers instant swap services as far as various cryptocurrencies are concerned. It was launched in the year 2014. As per information available from its own sources, this platform has a capability of processing around 31,207 transactions in twenty four hours. This equals to around 2,715,841 bitcoin in volume terms. This also works out to around 616 seconds of trading time. Though this is not the best in the market, it still compares well with some big names and therefore it is liked and used regularly by scores of traders. With new changes in the anvil from the technological standpoint, it is likely that the average trade time will come down quite significantly.
What Makes It So Interesting?
There is no need for registering for becoming a member of Shapeshift. They also do not ask for verifications through email or other sources. The entire process of registration is quite straightforward. It should not take more than a few minutes to go through the process and even those without too much of internet and computer knowledge should be able to register easily.
A Wide Variety of Crypto Pairs To Offer
There is one more reason for the growing demand for the services offered by this trading platform. They have a portfolio of more than 400 crypto pairs. These include various alt-coins and the list consists of Bitcoin Cash, Bitcoin, Ether Classice, Ether, Litecoin, Dogeoin, Moneor, Blackcoin and a host of other such cryptocurrencies. Hence, customers and traders can be sure that they will be able to get complete and total services from a single platform known as Shapeshift.
Why It is Preferred Over Others?
- Verification process â This is perhaps one of the biggest reasons for choosing this over others. It has been able to do away with the complex registration process for creation of trading account or customer account. This is often the problem with many other trading platforms not only in the country but also across the world. It also has been able to do away with ID verification and even a customer email is not required. Therefore, if you are a trader who is keen on confidentiality and would like to operate anonymously, then Shapeshift could be one of the best choices.
- Efficiency and Speed of Operation â The trading platform offers almost instantaneous swap facility. In most cases, it happens almost immediately. However, there could be some delays because of some issues with the blockchain network. The smaller the size of the transaction, the more rapidly the swap happens. This is because smaller transactions are not required to go through network verification. Even the larger ones need just one verification and this again compared very well with many other such platforms in the market.
- Location â Shapeshift is based at Switzerland but they have the facilities, infrastructure and wherewithal to accept clients from across the world. This includes the USA.
- Price â There is no fear or risk of price slippage. In other words traders get a specific exchange rate for their order. This remains the same and does not change even if there is change in the size of the order. Further, the market rates of various cryptocurrencies are updated every 30 seconds.
- Mobile app â Shapeshift also has a highly efficient, user-friendly and reliable mobile application, both for iOS and Android users. Therefore traders can buy and sell cryptocurrencies even while they are on the move. The speed and efficiency of mobile apps are also quite impressive and the app knows what it has to do quite well.
High fees are perhaps a small downside as far as this trading platform is concerned. However, this is only for high volume transactions and as far as low volume transactions are concerned, it is quite reasonably and in many cases no fees are charged.
To conclude, there are many things that go in making Shapeshift a well known, reputed and reliable cryptocurrency platform in the market today. Their success is proven and time-tested.