Shapeshift is a non-custodial exchange platform through which digital assets (aka cryptocurrencies) can be swapped quickly and without any hassle. Users of the platform could do so anonymously until the exchange implemented mandatory Know Your Customer (KYC) verification on 1 October 2018.
On 8 July 2019, Shapeshift unveiled a new trading platform incorporating buying, selling, trading, tracking and secure storage of 50 cryptocurrencies. The platform initially provided integration and support for 2 hardware wallets: Trezor and the Shapeshift-owned Keepkey which severely limited their user base.
Early November, Shapeshift announced the integration of Portis, a self-custodian multi-blockchain wallet, into their trading platform. Interested users can now sign up for a Portis wallet through the Shapeshift dashboard. It is not only free, but also hassle free.
This new integration comes just before the announcement of Shapeshift's long-awaited FOX Token. FOX is an ERC20 token on the Ethereum blockchain and works along the same principle as Binance's BNB. As part of their promotional launch, users who sign up and verify their accounts on the Shapeshift platform will earn 100 FOX tokens.
Each FOX token entitles the holder to USD10 of free trading for a 30-day period. With 100 FOX tokens, the holder can make USD1,000 worth of trades a month with zero trading fees and zero commission.
A total of 1 billion FOX tokens were created with 10 million earmarked for distribution to the first 100,000 Shapeshift members. FOX tokens can also be earned by making trades on the Shapeshift platform.
Despite the Shapeshift's mandatory KYC verification requirement, the idea of a zero commission, zero fees trading model on a non-custodial exchange platform may seem like an attractive alternative to the more traditional exchanges with their high trading fees and commission.
If that is you, sign up and get your free 100 FOX tokens now!
