Any Coin Can ShapeShift - dummies

By Tiana Laurence

ShapeShift is one of the quickest ways to exchange blockchain assets and cryptocurrencies. Users are allowed to trade digital currencies within seconds using this service. The users don’t have to worry about security — there is no login. Through its systems, ShapeShift significantly minimizes the risk of stolen tokens.

ShapeShift follows a strict “no fiat” policy. In the financial services industry, fiat does not refer to the cute little Italian car; instead, it’s a way of differentiating government-issued currencies. On ShapeShift, users are not allowed to buy cryptocurrencies with bank accounts or debit or credit cards. ShapeShift can be used all over the world except in North Korea and New York State.

Using ShapeShift is very easy. You go to the website, specify the currency type you want to exchange, and specify what wallet to send the exchanged tokens to. ShapeShift exchanges the tokens for you, receives them into an account, and then sends them to the destination you specified.

Several market sources determine the exchange rate used by ShapeShift, and it always remains the same, independent of the value of currency exchanged. You can also convert Bitcoin and other cryptocurrencies directly within ShapeShift.

ShapeShift offers many unique features and tools like Shifty Button and ShapeShift Lens, which allow users to purchase items with any alternative cryptocurrency and receive and exchange altcoin payments directly and quickly.