ShapeShift is a web and application programming interface (API) platform that provides Bitcoin and Altcoin conversion. It is a platform for exchanging cryptocurrencies and blockchain assets. It has reduced the risk of stolen funds. It requires no account or personal data, increasing privacy.
It gives special tools and features namely, ShapeShift Lens and Shifty Button. These enable users to buy items with any alternative cryptocurrency and to receive and exchange Altcoin payments as merchants. Users' transactions can Quick or Precise. Quick transactions, users are not required to specify how many Altcoin they need. Precise transactions, users receive the exact amount they indicated.
Erik Voorhees is the CEO and founder of ShapeShift and Prism. He founded ShapeShift in 2013 in Switzerland. It can be used everywhere except in New York and North Korea. Other cryptocurrency related products offered by ShapeShift are CoinCap (cryptocurrency market analysis tool), KeepKey (cryptocurrency hardware wallet), and Bitfract (tool for trading 1 cryptocurrency for up to 62 other cryptocurrencies in a signal transaction).
On September 8, 2015 ShapeShift closed their seed funding round with $1.6 million in funding from Bitfinex, Digital Currency Group, Mardal Investments, Bruce Fenton, Michael Terpin, Roger Ver, and Trevor Koverko.
On March 29, 2017 ShapeShift closed their series A funding round with $10.4 million in funding from Pantera Capital, Lakestar, FundersClub, Earlybird Venture Capital, Digital Currency Group, BlockChain Capital, Access Venture Partners, Erik Voorhees, and Erik Peterson.
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- Cluster: Blockchain and cryptocurrencyA cluster of topics related to blockchain and cryptocurrency.
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.