How to Use ShapeShift to Swap Digital Assets

shapeshift exchange guide

Many cryptocurrency exchanges require account opening. Users need to spend their time and energy trying to tap into the cryptocurrency exchange. While this is the norm in the cryptoverse, there are other options for those who don’t have the patience to open and activate accounts. One of the few cryptocurrency exchanges that don’t require account opening is ShapeShift. If you’ll not need to open an account, how do you use the platform?

How to Use ShapeShift
Step One: Visit the Website
With your internet-enabled device, visit the ShapeShift website and select the cryptocurrency you would like to deal with. After selecting the cryptocurrency, you would like to use, input your cryptocurrency address. It can be found in your wallet. This will be the destination address. Now provide your refund address which will be the address you want to send the cryptocurrency from. Read and agree to the terms of services and click on the start button.

Step Two: Send Cryptocurrency
At this point, a cryptocurrency deposit address will be generated for you by ShapeShift. This is the address you will transfer your cryptocurrencies to from your cryptocurrency wallet. Note that ShapeShift sets a deposit max. Make sure you don’t send anything to the deposit max. Your cryptocurrency will be sent at once.

You don’t need to use emails, passwords or long verification processes to perform a transaction. You’ll be able to swap cryptocurrencies as fast and as conveniently as possible.

ShapeShift allows you to specify the exact amount you intend to receive when you’re placing the order. The exchange rate that appears will be determined instantly as the deposit is received. It must not always be the same as the exchange rate on the homepage. Another good thing about this platform is that allows you reuse the deposit address generated. You don’t need to worry about things like price slippage, and if the order fails, your funds will automatically be sent to the return address.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.


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