Exchange coins with Shapeshift
Founded in 2013, ShapeShift is an online instant crypto exchange.
Unlike traditional crypto exchanges, where a user first needs to register an account and deposit funds onto the exchange account for immediate or later trading, there is no user registration required at ShapeShift and no funds may be stored online at it. Instead in order to to exchange coins at ShapeShift, one simply enters the exchange direction, that is the type and number of coins one wants to sell on the other one hand, and the type of coins one wants to get on the other hand and ShapeShift calculates the number of coins you may get using its service. If one agrees to proceed with the exchange, ShapeShift asks for an address to where to send the coins you want to buy, then gives you the address at which you need to send to it the coins you want to sell. After receiving network confirmation that the coins you want to sell were sent to ShapeShift, it sends to your address the coins you wanted to get.
As a result the whole process of exchanging one coins for other at ShapeShift is straight-forward, easy to follow and takes just a few steps. However, as a result of its ease of use, ShapeShift takes a fee for itself for using it service and the exchange rates are therefore often worse than the exchange rate at traditional exchanges.
However, if one does not want to register at a traditional exchange and work with the order book, something which not everyone may want to do, ShapeShift may be a good choice at which to exchange your coins.
On the negative side, while ShapeShift is generally safe to use, it has a rather poor support system. That is it takes a long time to solve an issue, in case there is some problem with an exchange.
CoinMonkey is integrated with ShapeShift via API and the exchange rate provided is the same as when using ShapeShift directly. In case of any issues with your exchange, we get in touch with ShapeShift and do our best to solve any issue as fast as possible on your behalf.
Year of foundation
Type of exchange
Online instant exchange
Is fiat accepted?
No account registration is necessary
Number of supported coins
Speed of exchange
Normally 10-30 minutes
If you want to make exchanges with Shapeshift and don't want to make account and verification - use CoinMonkey.