The FOX Token is ShapeShift’s own ERC20 native token. ShapeShift exchange supports over 100 cryptocurrencies, including, but not limited to Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC), Dogecoin (DOGE), Litecoin (LTC), Monero (XMR), and XRP. Among those restricted regions are Afghanistan, Syria, China, and some US states, such as New York, Kansas, and Hawaii. It restricts users from specific regions from buying crypto via fiat, but also from using the mobile app. Supported Cryptocurrencies and Countriesĭue to its no-fiat money policy, ShapeShift is able to allow users from all around the world to use its interface. ShapeShift does not disclose information regarding transaction limits, but some users report it stands at $10,000 per transaction and $50,000 per month.
#Shift exchange reviews series
In doing so, users can purchase a series of cryptocurrencies using debit cards and credit cards. A fiat on-ramp is available via the exchange’s Banxa partner, accessible upon clicking on the ‘Buy Crypto’ option. The platform does not charge any fees for deposits and withdrawals, thanks to their non-custodial nature, but users must pay the miner fee associated with each crypto pair being transacted.Ĭurrently, ShapeShift exchange does not support any fiat currencies, so it is a crypto-only exchange.
Users looking for better rates must know that FOX holding does entail lucrative incentives. However, they do have their own exchange rate for each pair, which changes every thirty seconds according to market trends, meaning that it can climb up to above-average on some occasions. ShapeShift exchange does not charge any fees apart from the costs incurred by transactions validators. ShapeShift is non-custodial, so you will have to create or connect an existing wallet to use its services – a welcomed addition for user security. Each option consists of a simple order box. The exchange does not have advanced tools, making it less suitable for avid traders, but better suited to beginners.įor buying, sending or receiving crypto, three options are located in the upper left corner. On the right, you will find a section outlining your trade history, dashboard, and the charting interface showing recent price trends for BTC, ETH, USDC, and FOX, ShapeShift’s native token. Once you enter, you will see an exchange box where you can easily trade between your favourite trading pairs, as well as a few trading settings such as maximum tolerance for price slippage. Shapeshift has a rather simple trading view in contrast with other online exchanges. In addition, we will overview its trading options, security protocol, native FOX token, account creation process, and more. Through the article, we will examine the platform’s features, tools, and fees. Unfortunately, ShapeShift has seen its fair share of attacks in the past, highlighted later in this review. The platform markets itself as one of the pioneers in the crypto industry, allowing customers to trade hundreds of coins in thousands of pairs, while remaining in complete control of their funds. ShapeShift was founded in 2014 by Erik Tristan Voorhees and has since become one of the popular and well-recognized online cryptocurrency exchanges.