Swap and Track BCH on the New Shapeshift Suite for Noncustodial Crypto Management
Originally published on: Bitcoin News
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July 08, 2019
Shapeshift, the company that allows traders worldwide to exchange hundreds of cryptocurrency pairs launched its new crypto platform that now offers an integrated suite of digital asset management in a noncustodial fashion. The firm believes the latest release offers a true end-to-end solution that aims to bolster free market finance.
Shapeshift Launches New Trading Engine and Self-Custody Solution
Launched in 2014, the Shapeshift platform has provided cryptocurrency users with the ability to quickly swap a variety of digital assets in a secure environment. Not long after the company started, Shapeshift began to offer hundreds of trading pairs. This week the firm has launched its new platform which can be found at the domain Shapeshift.com. After leaving private beta testing period on Monday, the web-based crypto platform has a whole new look with a dashboard that shows current assets and a tab that accesses the vast amount of trading pairs. Moreover, the biggest advancement for the new Shapeshift is the end-to-end solution for storing, sending, receiving, trading and tracking the company’s wide variety of digital coins.
Shapeshift allows people to trade some of the most popular cryptocurrencies like bitcoin cash (BCH) which recently became the second most valuable blockchain by transaction volume, according to a recent research analysis conducted by Ryan Research. You can also swap other well known digital assets like litecoin (LTC) and ethereum (ETH), alongside a wide selection of lesser-known coins and ERC20 tokens. The newly integrated digital management suite for Shapeshift provides you with the ability to merge with the trading platform using either a Keepkey or Trezor hardware wallet device. According to the team, there will be more methods of key storage coming in the future. The new Shapeshift platform seeks to be an easy to use solution that competes against third-party solutions. Moreover, the new app is tethered to real-time market-data via the Coincap API for accurate, up-to-date pricing and historical data.
During the launch announcement, the company explained that rather than targeting institutional custody solutions Shapeshift aimed for an international retail audience. Giving traditional everyday crypto users an integrated digital management suite and the ability to swap coins in a noncustodial fashion has been Shapeshift’s main driver. Since the inception of cryptocurrencies, centralized trading platforms have been plagued with hacks and exit scams. Shapeshift’s latest product is focused on curbing this problem by giving traders the ability to trade coins in a far safer manner while also storing them in one place.
“For too long the cryptocurrency space has been fractured, with price tracking, trading and holding taking place on dozens of separate apps and sites — With the new Shapeshift, it’s all finally under one roof,” said Michael Perklin, Shapeshift’s chief information security officer.
An Entire System Built Without Custodial Risk
Shapeshift founder and CEO Erik Voorhees said the new platform has been in the works for quite some time. “For over a year we’ve been preparing the next evolution of Shapeshift, a holistic crypto-platform for hodling, buying, selling, trading, tracking, and managing digital assets across multiple blockchains, all without custody.” Voorhees continued by adding:
The new Shapeshift is arguably the world’s first non-centralized multi-chain digital asset platform — It becomes the basis of self-sovereign finance and we’re immensely proud to bring this to market.
Existing users can check out the new Shapeshift today and anyone can register to start trading over 50 digital assets held on the exchange. Individuals should note that a know-your-customer (KYC) verification is required to use the platform’s trading engine.
Voorhees explained that the new Shapeshift is built “on years of technology and learning, to deliver an end-to-end non-custodial digital asset experience.” Before the platform opened to the general public Vorhees revealed that roughly 20,000 users tested the platform during the beta trial period.
What do you think about the new Shapeshift design and revamped platform? Let us know what you think about this subject in the comments section below.
Disclaimer: This editorial is intended for informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com or the author is not responsible, directly or indirectly, for any damage or losses caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Image credits: Shutterstock, Pixabay, and Shapeshift.com.
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Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.