Check out our full list of pros and cons or read on.
No supported
Fiat currencies
51
Cryptocurrencies
| Product Name | ShapeShift Cryptocurrency Exchange |
|---|---|
| Fiat Currencies | |
| Cryptocurrencies | BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, GAME & 29+ more |
| Deposit Methods |
Cryptocurrency |
| Trading Fee | Fees vary |
| Deposit Fees | None |
| Withdrawal Fees | None |
Find everything you need to get started on the home page. You will need to sign up in order to begin trading.
In the interests of transparency, ShapeShift shows the details of all its latest trades on the home page as well as up-to-date statistics on its last 24 hours.
ShapeShift clearly shows the latest miner fees. This is how much is deducted from a transaction beyond the exchange rates shown.
To make a trade, just enter your destination address and refund address (where your change is deposited). The miner fees and current rates are clearly displayed.
After choosing what you want to trade, find the QR code and destination address to initiate a transaction, along with the minimums and maximums for that transaction.
| Platform fee type | Fee |
|---|---|
| Spreads | Approximately 0.5% |
| Miner fee | Varies (usually less than US$1 equivalent) |
There are no fees other than the platform trading fees.
Deposits, withdrawals and transactions only take place as you make a trade. The cost for this is built into the platform trading fees.
The average time to complete a trade will vary depending on the cryptocurrency, your chosen miner fees and the state of the network at the time.
The average processing time is shown on the ShapeShift site. It’s often about 10 to 20 minutes. This is how long it will take to complete a trade end-to-end.
ShapeShift was hacked several times in 2016, losing the equivalent of a few hundred thousand US dollars at the time. It was alleged to have been an inside job.
No customer funds were lost, rather, all the stolen cryptocurrency was ShapeShift’s own. ShapeShift CEO Erik Voorhees later pointed at this as evidence that the non-custodial exchange design worked as it should.
It was an unconventional situation, and although there are criticisms of how CEO Erik Voorhees handled the situation, user funds were never at risk which demonstrates the extra security offered by ShapeShift’s non-custodial system, where users don’t have to deposit funds to make a trade.
ShapeShift has not been hacked since then.
ShapeShift is a veteran cryptocurrency exchange. It was founded by Erik Voorhees in 2013, and is headquartered in Switzerland but based largely in Denver.
It was one of many crypto companies to withdraw from New York when the BitLicense was introduced and has a reputation for pushing back against what it perceives as regulatory overreach.
