Trade One Cryptocurrency For Many In A SINGLE Transaction With This Company
Imagine for a minute that you are preparing for a backpacking trip around the world – 20 countries on 4 continents. Countless delicious native meals and way too many train rides. No matter how frugal you plan to be, you will be dealing with many kinds of currencies. How cool would it be if you could walk into a bank before you left the country, hand someone $5,000, and get back the same value but with every currency that you need represented?
Obviously, the illustration breaks down a bit when you dig into exchange rates and the logistics of carrying so many different kinds of money, but you (hopefully) get the point. That level of convenience would be special. In the crypto world, this type of transaction is now possible thanks to ShapeShift, a Swiss-based company. Founded in 2014 by Erik Voorhees and Jon (that’s right, just Jon), ShapeShift is a web and API platform that allows users to safely and quickly trade one cryptocurrency for many in a single fell swoop. For crypto enthusiasts, this is a game changer.
ShapeShift’s Core Tenets: Speed, Security, and Convenience
ShapeShift’s platform includes four different products that each fulfill a different need for users.
The product actually called ShapeShift is what customers use to buy and sell digital assets. Users simply have to input addresses from which ShapeShift pulls and sends the cryptocurrencies being traded. The company doesn’t hold any deposits and up until recently, didn’t require users to create accounts in order to exchange assets.
CoinCap provides real-time market data so that users can stay apprised on the latest crypto trends and activity. On the product’s home page, you can see the prices and market caps for the top 20 cryptocurrencies in circulation today as well as ShapeShift transaction data. At the time of this article’s writing, over 3k transactions had occurred in the last 24 hrs with the most popular exchange being Ethereum for Bitcoin.
KeepKey is a hardware wallet that secures a number of different cryptocurrencies using private key generation, key storage, and transaction signing.
Bitfract is the company’s newest and most impressive product. The free tool allows users to trade one digital asset for many in a single transaction. Users can split the value of the cryptocurrency they are trading into 62 other types of digital assets. This is unprecedented functionality that truly differentiates ShapeShift from other platforms.
Today, the company facilitates 10-30k transactions involving 70+ cryptocurrencies every day.
Founded By Bitcoin’s Biggest Believer
Erik Voorhees is the genius behind ShapeShift and a veteran in the crypto world.
Prior to starting his newest venture, Voorhees helped co-found Coinapult, another digital asset trading platform that focused solely on Bitcoin transactions.
He joined up with Jon, a deeply experienced web developer, to move ShapeShift through five funding rounds totaling $13M. The latest round closed in March 2017.
Back in 2011, Voorhees completely pivoted his life’s focus after learning about Bitcoin and has been an outspoken advocate for cryptocurrency use ever since.
“There is no other project that I’m aware of which has such potential to help so many human lives and improve the prospects for humanity, than Bitcoin,” said Voorhees.
“…it’s my passion. I simply couldn’t be interested in anything else.”
Simplicity Amidst Complexity
This Untold story is a beautiful example of a business that has mastered the art of simplification. The crypto world is overwhelming, even for those who have followed and participated in it for years.
Voorhees and Jon lowered the barriers to entry significantly for people wanting to trade digital assets and have created one of the most efficient, secure, and convenient platforms on the market today. If you have highly specialized knowledge about a particular space or industry, see if you can open it up to the masses by simplifying how people participate. And for those of you who are cryptocurrency enthusiasts, check out ShapeShift today!