“Shapeshift is a way to change any digital asset into any other, without accounts,” explains Erik Voorhees. “It’s an easy way to convert.” I’ve personally used Shapeshift myself, and that’s been my experience, too. Let’s say you have Bitcoin, and you want to trade it for Dash. You send the Bitcoin to Shapeshift, and you get Dash back into your Dash wallet: pretty cool stuff. With Shapeshift, you can directly trade any digital asset for any other, without having to use Bitcoin or Ethereum as a reserve currency. “So it’s like 10,000 pairs or something,” says Voorhees; in other words, you can convert from one currency to another in 10,000 different ways. Plus, the interface is simple to understand, and you don’t have to set up an account to use the site.
Easily the coolest part of this direct trading method is that it eliminates “slippage.”
The thing is, exchange rates are always changing. In the moments between putting in an order and the order registering, the exchange rate will have changed. Sometimes the rates on are better, sometimes they’re worse. But with Shapeshift, what you see is what you get: the price doesn’t slip, or change unexpectedly.
Hit play to learn more about Shapeshift, and Prism, Voorhees’s latest project from the same company. Subscribe, review, and if you can, consider donating some Bitcoin to the cause.