Bitcoin Exchanges
4 Reviews

Shortfalls of Shapeshift

72% June 04, 2018 by Iraq

Great dedicated exchange platform that would have much more potential if they would concentrate thier efforts and partnerships more on mobile exchange wallets. Thier work with Coinomi is a good example for providing a pocket exchange solution via mobile app without the need to login to complicated exchanges who have yet to provide streamlined access to people on thier phones. Only two main problems with Shapeshift on mobile wallets 1 lack of variety of exchangable mine-able coins on all algos especially cryptonite aglo... meaning not many coins that are actually minable are available to swap them with other coins leaving miners with limited options. Even when the coin happens to be minable you cannot exchane it to other coins cuz they are not listed. Eg. Zcash to vechain. Short listing exchangable coins though keeps people coming to their main website but doesnt cater to people who are busy and find doing thier crypto from their phone on the move convenient 2 thier exchange rates are sometimes high. Their also react to the market. eg. when eos was about to launch thier shapeshift charges on coinomi strangly became higher on all icos that are etherioum based ... coincidence???

As a payment processor

53% April 29, 2018 by opacey

ShapeShift can be used as an exchange and as an online payment processor. As an exchange they are fine. As a payment processor there are two ways of reviewing the service. How well it works for merchants and how well it works for buyers. For merchants I don't have much experience so won't review, it does at least offer your products to your customers with payment options you might not otherwise offer. I would point out though that you can set up a wallet for your chosen currency and display addresses to customers through your website typically very easily - and this will provide an excellent payment option for you and your customers with stable processing (depending on the coin of course). For buyers though the experience quite lacking. For each payment a time window is created. The exchange rate is fixed for this time period. The buyer must enter the precise address and precise payment amount. If their wallet isn't working well (often the case) then they may end up doing this manually. This can result in time outs. If time out occurs then the FX rate will have changed and the address too which will unlike any previously sent payment from your order system. Similarly if a refund is required the buyer will get back an amount in their ordinal payment currency but a different amount according to the new FX rate. This can be unclear and thus frustrating for buyers. I would recommend merchants avoid using FX payment providers in general for these reasons. Let uses swap coins themselves or set up dedicated wallets for each of the currencies you are willing to accept. This will create very good UX for your customers.

Self service, easy to use and no KYC or jumping through legal hoops.

100% March 22, 2018 by Simplexletalis

I'd recommend this to anyone trying to swap coins with out going through a "tracked" KYC exchange.


75% March 08, 2018 by Lithogenous

Great service and fast release. Easy to comprehend for first time buyers.