The new ShapeShift platform is everywhere in the latest cryptocurrency news – designed to be the one-stop shop for non custodial crypto management. As the official news confirmed, the private beta version of the platform is launching today.
As described, the new platform is aiming at becoming a direct rival to custodians such as Coinbase for ease of use and other features – all while giving the users full control of their private keys. The new ShapeShift platform was described by the founder and CEO of the company Erik Voorhees as one that “offers many services that a company like Coinbase would provide but on ShapeShift it’s done in a much more secure and self-sovereign way.”
Voorhees also said:
“Largely this came from my dissatisfaction with the reality that most of the large companies are custodial.”
What’s also important about the new ShapeShift platform, as the altcoin news show, is that it allows users to buy, sell, trade and track multiple cryptocurrencies in a single place. There are over 50 digital assets currently supported and using the platform requires a connected hardware wallet – such as Trezor or KeepKey (which ShapeShift acquired in 2017).
As many best cryptocurrency news sites noted, the company’s approach seeks to eliminate any counter party risk.
“There needed to be a platform that had great UX that my grandparents could use with limited instruction but that was built on a foundation of being non-custodial,” Voorhees added.
The new ShapeShift platform is also a major launch for the five-year-old company which was founded in 2014 as a simple idea of swapping one cryptocurrency with another. The new ShapeShift has also been over a year in the making and is now aimed squarely at the retail market.
“There’s a general sense within the industry is that if all that happens from the crypto revolution is that you just have a new set of custodians, then nothing really changed,” Voorhees said.
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By making it easy to hold your keys, ShapeShift is seeking to change that. The CEO of the company also added that 20,000 users participated in the closed beta.
“A lot of people see it as the better way to use a hardware wallet,” he concluded, pointing out to the early user feedback that the new ShapeShift platform received.
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