THELOGICALINDIAN - The account that Shapeshift is to accept a absolutely absolute archetypal acute KYC for anyone who wishes to bandy cryptos has sparked a beachcomber of protests Many users accept vowed to booty their business abroad For cryptocurrency holders gluttonous a noncustodial barter there are several Shapeshift alternatives to accept from with capricious degrees of privacy
Also read: Shapeshift Moves to Membership Model Requiring User Information
Shapeshifting Into a KYC Exchange
Swapping cryptocurrencies should not crave KYC any added than swapping a dollar bill for quarters. Unfortunately, not anybody sees it that way. In transforming into a KYC-based exchange, Shapeshift has absent its defining affection that was so cardinal in its success. The all-inclusive majority of users didn’t accept Shapeshift for abominable purposes: they chose it because it was convenient. Having to accelerate money to a cryptocurrency exchange, delay for funds to clear, set a bazaar buy order, banknote out, and again complete the abandonment action artlessly to jump amid cryptocurrencies is a chore. Shapeshift promised to do the aforementioned job in minutes, with no questions asked.
Reading amid the lines, it appears that Shapeshift’s duke was affected by US lawmakers, acceptable with the blackmail of subpoenas and case should it abort to change its business model. That actuality the case, it should be acclaimed that any added US-based Shapeshift adversary is accountable to accommodated a agnate fate back it’s congenital up abundant business to allure the absorption of US prosecutors. For now, at least, the afterward casework accommodate an another agency of switching amid cryptocurrencies such as BCH, BTC, and ETH.
Changelly
As Shapeshift’s abutting competitor, Changelly now has the adventitious to authorize itself as the bazaar baton for cryptocurrency changers. It offers dozens of cryptos including bitcoin cash, ripple, doge, and neo. An email abode is appropriate to use the service, but for those who admiration their privacy, encrypted email providers like Tutanota are consistently an option. Changelly is not after its controversies however, with users complaining, in the aftermost 24 hours, that the barter can authority monero and force KYC afore absolution funds. The Prague-based account should accordingly be acclimated with attention by anyone adulatory to access aloofness bill or to bandy ample quantities of cryptocurrency.
Flyp.me
Flyp.me has ashen no time in capitalizing on Shapeshift’s annihilation – or rebrand, rather, back Erik Voorhees’ aggregation isn’t activity away: it’s artlessly transforming into a account that its users didn’t ask or ambition for. Flyp.me offers 26 cryptocurrencies including BTC (but no BCH), dash, and LTC, as able-bodied as a scattering of acutely abstruse altcoins. Its circadian aggregate averages about 4 BTC, but has been on the acceleration in the aftermost 24 hours back account of Shapeshift’s axis broke. Flyp.me requires no allotment – not alike an email address. Nor does it use web trackers or third-party analytics.
Changenow
Changenow resembles Changelly, but seems to ask beneath questions, and has been operating calmly back backward aftermost year. A advanced ambit of accepted cryptocurrencies, including bitcoin banknote and monero, is covered, as able-bodied as a scattering of beneath accepted ones such as pepecoin. Generally speaking, there is no charge to annals to use the belvedere or to accumulation an email address. However there are some exceptions: Changenow “uses an automatic accident administration arrangement to analysis all transactions. Each case will be advised individually. According to European AML directives, KYC regulations and belvedere requirements, we will ask you to accommodate you a browse of your ID certificate accurate in your country and added advice of the funds origin.”
Coinswitch
With over 300 cryptocurrencies covered, Coinswitch boasts an enviable arrangement of agenda assets. The account aggregates a host of added alteration casework and exchanges including Shapeshift and Hitbtc. While its ambit of altcoins can’t be faulted, Coinswitch would account from accouterment greater accuracy on the advice it requires from its users.
With Shapeshift no best a applicable option, there is a gap in the bazaar for a added privacy-oriented addition that is headquartered alfresco the subpoena-happy US. Flyp.me appears the best of the agglomeration for apropos user privacy, but is let bottomward by its bound alternative of coins. Hopefully it will aggrandize its account or a new adversary will appear that will facilitate the absolutely allowable admiration for an alone to bandy one cryptocurrency for another.
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