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ShapeShift Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
ShapeShift logo
3.82
Crypto Head Rating
Visit ShapeShift

The Bottom Line

The bottom line with ShapeShift is its ability to offer an accessible asset exchange platform that caters to the needs of a diverse user base. Its focus on instant exchange options, a user-friendly interface, and commendable security practices make it a noteworthy contender in the cryptocurrency exchange market.

Whether you are new to crypto trading or a seasoned trader, ShapeShift provides an attractive platform that prioritises both functionality and security.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Supports a wide range of cryptocurrencies
  • No need for an account or personal information for basic transactions
  • Offers competitive exchange rates
  • Provides a platform for both mobile and desktop users

Cons

  • Higher fees compared to some other exchanges
  • Limited customer support options
  • No fiat currency trading
  • Lack of advanced trading features
  • Some users report slow transaction times

Quick Summary

Headquarters Location International
Fiat Currencies Supported (through third party apps) USD, AUD, GBP, CAD, EUR, NZD + 131 others
Total Supported Cryptocurrencies 245+
Trading Fees 0%
Deposit Methods Cryptocurrency, Banxa. Mt Perelin, Onramper
Support Twitter, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Welcome to our comprehensive review of ShapeShift, a unique player in the world of cryptocurrency exchanges. As you navigate through the digital currency landscape, understanding the intricacies of various platforms is crucial.

ShapeShift homepage

Here, we delve into the offerings of ShapeShift, a platform known for its adaptability and user-centric features.

Welcome to our comprehensive analysis of ShapeShift, which stands out as an innovative entity in the cryptocurrency exchange domain. In venturing through the dynamic environment of digital currencies, grasping the nuances of diverse platforms becomes essential to informed participation.

This expanded introduction will cast light on the broader context in which ShapeShift operates, reflecting on the shift towards user-driven services and the importance of convenience and simplicity in the crypto exchange landscape.

About ShapeShift

ShapeShift emerged as a game-changer in the crypto exchange arena, aiming to simplify the process of digital asset trading. The platform prides itself on enhancing user experience by offering instant exchange services without the necessity for an account.

Its inception was marked by a desire to provide a seamless and straightforward method for users to swap one cryptocurrency for another. Over time, ShapeShift has evolved, expanding its services and cementing its place in the cryptocurrency landscape.

ShapeShift features

Since its inception, ShapeShift has been on a journey influenced by the ebb and flow of the crypto market and the growing demands of digital traders. The platform’s origins can be traced back to a time when the cryptocurrency space was ripe for a service that could offer quick and straightforward transactions without the complexity many associated with digital asset trading.

ShapeShift’s progression mirrors the evolution of cryptocurrency exchanges as a whole, as the industry continues to mature and adapt to the ever-changing needs and expectations of its users. It is within this adaptable framework that ShapeShift has become a steadfast presence, weathering market volatilities and regulatory shifts while maintaining its ethos of streamlined efficiency.

ShapeShift has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram and YouTube.

ShapeShift has a mobile app on both the Apple App Store and Google Play.

ShapeShift Supported Cryptocurrencies

ShapeShift supports trading on over 245 cryptocurrencies on their platform. This exchange currently supports 20 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Chainlink (LINK)
  • TRON (TRX)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • UNUS SED LEO (LEO)
  • Filecoin (FIL)
  • Immutable (IMX)
  • Aptos (APT)
  • NEAR Protocol (NEAR)
  • Stacks (STX)
  • Bittensor (TAO)

View all cryptocurrencies ShapeShift supports

  • 1INCH
  • AAVE
  • ACH
  • ADA
  • ADX
  • AERGO
  • AGEUR
  • AGLD
  • AKRO
  • ALCX
  • ALICE
  • ALPACA
  • ALPINE
  • AMP
  • ANKR
  • ANT
  • APE
  • API3
  • ARB
  • ARPA
  • ATA
  • ATOM
  • AUDIO
  • AVAX
  • AXS
  • BADGER
  • BAKE
  • BAL
  • BAND
  • BAT
  • BCH
  • BEL
  • BETA
  • BICO
  • BIFI
  • BLZ
  • BNB
  • BNT
  • BOND
  • BOT
  • BSW
  • BTC
  • BTTOLD
  • BURGER
  • BUSD
  • BX
  • C98
  • CAKE
  • CELR
  • CHESS
  • CHR
  • CHZ
  • CLV
  • COMP
  • COTI
  • CRV
  • CTSI
  • CVC
  • CVP
  • CVX
  • DAI
  • DARS
  • DATA
  • DEGO
  • DENT
  • DEXE
  • DF
  • DIA
  • DODO
  • DOGE
  • DOT
  • DREP
  • DUSK
  • DYDX
  • ELF
  • ENJ
  • ENS
  • EOS
  • EPS
  • ERN
  • ETH
  • EURC
  • EURS
  • EURT
  • FARM
  • FET
  • FIL
  • FIRO
  • FIS
  • FLOKI
  • FOR
  • FORTH
  • FOX
  • FRAX
  • FRONT
  • FTT
  • FUN
  • FXS
  • GAINS
  • GHST
  • GLM
  • GMX
  • GRT
  • GTC
  • HIGH
  • HOT
  • IDEX
  • ILV
  • IMX
  • INJ
  • IOTX
  • JASMY
  • JCHF
  • JEUR
  • JOE
  • KEY
  • KNC
  • KP3R
  • LAZIO
  • LBLOCK
  • LDO
  • LINA
  • LINK
  • LIT
  • LOOKS
  • LOOM
  • LPT
  • LQTY
  • LRC
  • LTC
  • LTO
  • LUSD
  • MANA
  • MASK
  • MATIC
  • MBOX
  • MC
  • MDT
  • MDX
  • MFT
  • MKR
  • MLN
  • MUSD
  • NEXO
  • NKN
  • NMR
  • OCEAN
  • OGN
  • OKB
  • OM
  • OMG
  • ONT
  • OP
  • ORN
  • OXT
  • PEPE
  • PERL
  • PERP
  • PHA
  • PLA
  • PNT
  • POLS
  • PORTO
  • POWR
  • PROM
  • PROS
  • PYR
  • QI
  • QKC
  • QNT
  • QUICK
  • RARE
  • REEF
  • REN
  • REQ
  • RFUEL
  • RLC
  • RLY
  • RNDR
  • RPL
  • RSR
  • RUNE
  • SAND
  • SANTOS
  • SFP
  • SHIB
  • SKL
  • SLP
  • SNM
  • SNX
  • SPELL
  • SRM
  • SSV
  • STAKE
  • STEPN
  • STG
  • STMX
  • STORJ
  • STPT
  • SUSD
  • SUSHI
  • SXP
  • SYN
  • TKO
  • TLM
  • TOMOE
  • TRB
  • TRU
  • TUSD
  • TWT
  • UFARM
  • UFT
  • UMA
  • UNFI
  • UNI
  • USDC
  • USDP
  • USDT
  • UTK
  • VGX
  • VIB
  • VIDT
  • VITE
  • VKT
  • WBTC
  • WEGLD
  • WETH
  • WFTM
  • WIN
  • WNEAR
  • WNXM
  • WOO
  • WRX
  • WSOL
  • WTC
  • WXRP
  • XCAD
  • XDEX
  • XRP
  • XVS
  • YFI
  • YFII
  • YGG
  • ZIL
  • ZRX

Trading Experience

Trading on ShapeShift can be likened to the ease of using a single clip holster; it’s designed for a hassle-free and flexible experience. The platform’s interface is tailored to both novice and experienced traders, providing amazing platform usability.

Real-time trading features, coupled with a streamlined process, contribute to an environment that supports swift and efficient trading.

The trading experience on ShapeShift is akin to the ease and comfort found in well-designed gear. The platform offers a streamlined trading process that caters to the needs of various traders, whether they are novices or veterans in the crypto space.

ShapeShift’s real-time trading capabilities are complemented by a system that simplifies the complexities of digital asset trading, akin to the way an expertly crafted holster provides both comfort and quick access. This seamless trading experience is part of the platform’s charm, making it an attractive choice for those seeking to trade cryptocurrencies with minimal hassle.

ShapeShift exchange marketing

ShapeShift Fees

Discussing the fee structure of ShapeShift is like examining a modular holster; it’s designed to be clear and adaptable to your needs. The platform’s pricing model is constructed with transparency in mind, ensuring that users are aware of the costs associated with their trades.

The fees are typically wrapped into the exchange rate, which means that what you see is what you get. This approach allows for a frictionless trading experience without the worry of hidden charges.

When discussing the cost model of ShapeShift, one appreciates the platform’s commitment to straightforwardness and adaptability. The fee structure is like a well-designed tool that offers both clarity and utility without unnecessary complications.

ShapeShift has managed to balance competitiveness with transparency, presenting its fees in a way that users can appreciate the value they receive from the service. This philosophy aligns with the broader movement in the industry toward more transparent pricing mechanisms that respect users’ desire for fair and straightforward financial dealings.

Type Fee
Trading Fee 0%
Withdrawal Fee (Bank Transfer) Not Listed

ShapeShift supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0025 BTC compared to the industry average of 0.000075 BTC. So ShapeShift has a fee that is above the industry average by 3233.33%.

Security - Is ShapeShift Safe?

In the realm of digital assets, security is paramount, and ShapeShift understands this. The platform has embraced robust security measures, including two-factor authentication, to ensure that users’ assets remain secure.

Additionally, ShapeShift’s commitment to maintaining a secure trading environment is evident through its compliance with relevant regulations and the adoption of industry-standard security protocols.

In the digital asset space, where the integrity of transactions is non-negotiable, security becomes the cornerstone of trust. ShapeShift has taken this to heart, implementing a robust array of security measures.

Beyond two-factor authentication, the platform has invested in advanced risk assessment technologies and real-time monitoring systems to detect and deter unauthorized access. ShapeShift’s security diligence extends to regular audits and updates, ensuring that the exchange stays ahead of potential vulnerabilities.

This proactive stance on security reflects a deep understanding of the potential risks in digital asset trading and a strong commitment to safeguarding users’ interests.

ShapeShift Customer Support

Customer support is the unsung hero in the trading experience, and ShapeShift’s customer support team is akin to a belt clip crossover component — versatile and reliable. Users can expect prompt and helpful responses to their queries, reflecting the platform’s commitment to customer satisfaction.

Whether it’s through email or other support channels, ShapeShift ensures that assistance is always within reach.

ShapeShift’s customer support mirrors the reliability and adaptability of a tool designed for high performance under various conditions. The support team is trained to handle a spectrum of inquiries and issues, ensuring that customer concerns are met with timely and effective solutions.

The importance of responsive customer service cannot be overstated in an industry where users often navigate complex and rapidly changing environments. The caliber of customer support provided by ShapeShift stands as a testament to the platform’s overall commitment to delivering a dependable and user-focused service.

ShapeShift support

ShapeShift Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on ShapeShift

  1. Create Account - Visit the ShapeShift website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the methods listed below. Remember this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Cryptocurrency
  • Banxa. Mt Perelin
  • Onramper

ShapeShift Alternatives

1inch logo

1inch

3.87
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
267+

Trading Fees
0%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 10 others

Visit 1inch
OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX
Bancor Network logo

Bancor Network

3.92
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
151+

Trading Fees
0%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 70 others

Visit Bancor Network

Final Thoughts

Considering the features and services offered by ShapeShift, one can’t help but admire the platform’s dedication to user empowerment and ease of use. Its no-frills approach to cryptocurrency exchange and commitment to providing a reliable service are commendable aspects that resonate with its user base.

Reflecting on the broader crypto exchange industry, one observes a landscape in constant flux, shaped by technological innovation, regulatory developments, and the evolving expectations of a diverse user base. The future likely holds further integration of digital finance with traditional markets, seamless interaction between various asset classes, and an unceasing quest for enhanced security and user empowerment.

Crypto exchanges, including platforms like ShapeShift, are integral to this evolution, as they serve as the bridges between traditional finance and the burgeoning world of digital assets.

If you’re wondering how ShapeShift fares against competitors in the crypto world, our article provide detailed comparisons for Changelly vs ShapeShift.

ShapeShift FAQs

ShapeShift’s trading fees and structure have evolved over time. Historically, the platform differentiated itself by not charging direct fees, instead generating revenue from the spread between the currency pairs.

They have also offered membership tokens that could reduce or eliminate fees. However, fees can be related to miner fees that are inherent to the cryptocurrency network when processing transactions.

Traders should review the current fee schedule on the ShapeShift platform to understand the costs associated with their trading activity.

Withdrawal fees on ShapeShift are generally tied to the miner fees required to process transactions on the respective cryptocurrency’s blockchain. These fees are not set by ShapeShift but rather by the conditions of the network, including congestion and transaction complexity.

The platform typically calculates these fees automatically at the time of withdrawal. As with any crypto exchange or trading platform, users should review the current details on the ShapeShift platform to understand any associated withdrawal fees at the time of their transaction.

ShapeShift was founded by Erik Voorhees, who is known within the cryptocurrency community. He has been involved in various other digital asset ventures.

As the CEO of ShapeShift, Voorhees has been an advocate for the cryptocurrency industry and has played a significant role in shaping the platform’s direction.

ShapeShift was originally known for allowing users to trade cryptocurrencies without requiring personal information, thereby offering an anonymous trading experience. However, regulatory changes have affected how ShapeShift operates.

Depending on the time and the jurisdiction, ShapeShift may require ID verification as part of their registration process. Users considering using ShapeShift should check the current requirements directly on the platform to understand what information is needed to complete the verification process for trading.

ShapeShift is incorporated in Switzerland, which is a country known for its robust financial services sector and progressive stance on digital assets and blockchain technology. Switzerland’s regulatory environment has made it a popular location for crypto-related businesses.

ShapeShift supports a wide array of cryptocurrencies, allowing users to trade between different digital assets directly. This includes well-known currencies like Bitcoin and Ethereum, along with a variety of altcoins.

The platform frequently updates its list of supported assets, so users should check the ShapeShift platform for the most current information regarding available cryptocurrencies for trading.

Trading on ShapeShift is designed to be a straightforward process. Users typically need to create an account, complete any necessary verification steps, and then can start trading.

The platform offers a user-friendly interface for selecting the cryptocurrencies they wish to exchange, setting up the transaction, and confirming the trade. Users are responsible for ensuring that their wallet supports the currency they wish to trade and should be aware of the miner fees associated with the transaction.

For further details on the trading process, users can refer to ShapeShift’s customer support or service documentation for assistance.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

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Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

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Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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