ShapeShift is a digital asset exchange. Unlike regular cryptocurrency exchanges, ShapeShift does not need personal information because no account creation is required.
How ShapeShift Works
ShapeShift makes it easy to exchange cryptocurrencies. First, users select their deposit currency from a list. Next, the user selects which currency to receive in the exchange. An address is then displayed on the screen. Once the user sends the required amount of the deposit currency to the address, the exchange takes places and the requested cryptocurrency is sent to the user’s receiving address.
While ShapeShift is currently used for Bitcoin and altcoin exchanges, its model could be used in the future for stocks, titles, and more once greater amounts of assets become digital.
History
ShapeShift.io was founded by Erik Voorhees in August 2014. Throughout the company’s first few months, Voorhees kept his involvement with the company a secret in order to prove its ability to trustlessly exchange digital assets.
Venture Capital Rounds
ShapeShift: $10.4 million - Series A
29-Mar-2017 | Financial Services
Description: Trade any leading blockchain asset for any other. Protection by Design. No Account Needed.
Investors: Earlybird Venture Capital, Lakestar, Blockchain Capital, Pantera Capital and Access Venture Partners, FundersClub, Digital Currency Group, Erik Voorhees
Headquartered: Zug
Country: Switzerland
ShapeShift: $1.6 million - First
8-Sep-2015 | Exchange
Description: Trade any leading blockchain asset for any other. Protection by design. No account needed.
Investors: Digital Currency Group, Roger Ver, Bruce Fenton, Michael Terpin, Trevor Koverko
Headquartered: Zug
Country: Switzerland
ShapeShift: $0.53 million - Seed
10-Mar-2015 | Exchange
Description: Trade any leading blockchain asset for any other. Protection by Design. No Account Needed.
Investors: Barry Silbert and Roger Ver
Headquartered: Zug
Country: Switzerland