About ShapeShift

ShapeShift is an exchange that enables users to swap cryptocurrencies and blockchain assets through atomic swap technology. Notably, ShapeShift exclusively deals with crypto-to-crypto exchanges and does not support fiat currency transactions. Users have the flexibility to exchange any cryptocurrency for another, distinguishing it from traditional exchanges where altcoins are often limited to trading against major cryptocurrencies like Bitcoin and Ethereum.

Exchange Process

ShapeShift users specify the destination address for their exchanged cryptocurrency and are provided with a corresponding deposit address. ShapeShift offers two types of orders: quick orders and precise orders. Precise orders require users to specify the exact amount of the exchanged cryptocurrency they desire and are provided with the corresponding deposit amount. By allowing users to designate their preferred wallet for receiving altcoins, ShapeShift eliminates custodial risk from the process.

Fee Structure

ShapeShift offers competitive rates for its service. While there is no separate commission fee, ShapeShift incorporates its fee into the exchange rate, with an aim to earn approximately 0.5% per exchange. This fee is distinct from the miner fee, which is transparently displayed prior to transaction completion.

Availability

ShapeShift is accessible worldwide, with exceptions for residents of New York and North Korea.