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Shape shift exchange6/22/2023 ![]() ![]() To an extent, that is true - if you don’t own your private wallet key, you don’t really own your assets, in the sense that they can be gone in a blink of an eye.ĭue to the previously-anonymous nature of the exchange, many user ShapeShift exchange reviews point out that, at the end of the day, the security of your crypto coins depends solemnly on you. ![]() Now, things such as 2FA do exist on the site, though.Īlso, ShapeShift will never ask you for your private key - that’s also an essential thing to keep in mind! You see, in the crypto world, there’s a saying - not your keys, not your cryptos. there was no account, so there was also no need for such tools), you could have been sure that, each time you perform a transaction, a new public wallet key will be generated for you. While you wouldn’t have really found any identity- or account-preserving features ( such as two-factor authentication, IP logs, etc. ![]() Thankfully, for the most part, things do appear to be in order! While ShapeShift did discontinue the anonymity feature, their security did not falter because of it. This did have both pros and cons, however, any ShapeShift exchange review written by a cryptocurrency enthusiast will tell you that it’s often the preferred option, given the decentralized nature of cryptos.Īs you can probably imagine, though, this did also raise some questions regarding the security of the site - people want to know is ShapeShift legit before they commit to a purchase. What this basically means is that there were no thorough account creation processes in place - you did not need to provide your personal details to the company in order to purchase your desired crypto coins. You see, one of the main aspects that make ShapeShift stand out from other crypto exchanges out there is the fact that the platform used to allow you to remain anonymous while purchasing cryptocurrencies. User ShapeShift exchange reviews, however, will tell you that things are a bit… Different with the platform in question. It’s the literal core element of a successful platform - it’s also the most important aspect from the user’s perspective, in the sense that you probably don’t want to lose all of your assets due to a leak or a hack. It is true that, whenever you’re talking about cryptocurrency exchange platforms, you should always focus on security first. A Unique Balance of Security VS Anonymity That’s exactly what we should figure out straight from the get-go, and move on to the more quality of life-enhancing features afterwards. The vast majority of cryptocurrency enthusiasts who are looking for ShapeShift exchange reviews online are likely trying to find out is ShapeShift safe and even worth using, in the first place. Some Users Report Lost Funds During Transactions ![]()
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