ShapeShift Overview review

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Background Information About ShapeShift

 

ShapeShift is one of the simplest digital currency trading platforms with a mission to build a digital asset platform that delights, protects, empowers, and inspires all people around us. Founded in 2014, ShapeShift is a digital asset trading platform enabling customers to buy, sell, trade, track, send, receive, and interact with their digital assets. Erik Voorhees, a Bitcoin veteran, is the founder and CEO of ShapeShift. One of the best things about ShapeShift, unlike other crypto exchanges that hold your funds, is that the private keys to control your digital currency are in your control. Many users in Singapore consider ShapeShift to be a superior platform compared to other options available in the market.

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How to create an account on the ShapeShift mobile app from Singapore?

 

To create an account on the ShapeShift mobile app from Singapore, you have to first download the app from Google Play or the iOS store on your smartphone. Once downloaded, you need to follow the below steps to create an account:

 

Step 1: Open the app, and enter your email address and create a password in the respective fields.

Kindly note that the password created by you will provide you access to both the ShapeShift mobile app and the beta version on the website.

Step 2: You will receive a security prompt about recovering passwords. You must now acknowledge the security prompts displayed to proceed with the next steps.

Step 3: Now, create a password. Here, you will be asked to confirm the password by entering it once again.

Step 4: After creating your password, you’ll be directed to the “Create Wallet” step. On creating the wallet, your wallet will be credited with a balance automatically. Note that all new users will receive 1 USD of BTC when they sign-up on ShapeShift through the mobile app.

Step 5: Next, you will now receive a verification email from ShapeShift.  Now, you need to open your email inbox and click on the “Verify Email” link in the email to verify your email address.

Step 6: Further, you must verify your personal information. For this step, you can either use any government-authorized personal identity cards like a Singapore passport, government ID, or driver’s license. Here, you need to make sure that you enter the information exactly as presented on your chosen form of identification.

 

On successful validation of your information, you will be able to start trading on ShapeShift platform. 

Bonus

ShapeShift Overview

How to execute a trade via DEX on ShapeShift mobile app from Singapore?

 

To trade, login to your ShapeShift account and follow the below steps:

 

  1. You have to select the trade button present in the lower center of the ShapeShift App.
  2. Next, you have to choose the “Trade” option from the menu.
  3. After this, you must select the desired trading pair.
  4. Now, enter the amount you would like to trade and click on the “Next” button.
  5. Before you validate the trade, you will get to view some details including, the order route and miner fees. Kindly note that ShapeShift uses THORChain (DEX) and 0x (DEX aggregator) to help find the best rate.

If you want to see the order route, click on the “i” symbol next to Order Route. This will show you the DEX being used for trading. Click on the “Done” button to return to the confirmation page.

  1. If you are ready to confirm the order details and start your trade, click on the “Confirm and Trade” option.
  2. After a few minutes, your trade will be completed.
  3. At last, click on the “Done” button to return to your dashboard.

Free quently asked questions

1Is my information stored securely on ShapeShift?

ShapeShift uses a cold hardware wallet to protect all digital assets of its customers. Also, all user information on ShapeShift is encrypted immediately with an air-gapped key.

2Are there any transaction fees on ShapeShift?

ShapeShift doesn’t charge an exchange fee or service fees. With ShapeShift, the exchange rate shown is exactly what you’ll get, minus only the “miner fee.”

3Is there any maximum trade amount on ShapeShift?

Yes, ShapeShift enforces a limit on the minimum and maximum transaction amount. However, there is no limit imposed on the number of trades done in a day.