ShapeShift.io broke down and have stopped its anonymous cryptocurrency swap services.
Breaking down means they have changed their USP and business model that had earlier made it the most promising cryptocurrency swap service for a long time.
ShapeShift cryptocurrency exchange services now requires KYC (i.e. Know your Customer) to do so. And, they are slowly transitioning into a membership business model.
According to some information I gathered recently, it seems ShapeShift gave-in to the regulatory pressures it’s been facing earlier, due to its model that allows buying and selling of cryptocurrencies without ID verifications.
This feature only, made them one of the top known leaders in this type of crypto business model, but it’s all a thing of the past now.
Brief ShapeShift review
Shapeshift is a crypto-only exchange, meaning that you can use it to swap one kind of cryptocurrency for another, but not to buy any with fiat currencies such as US Dollars or Euro.
Unlike many other cryptocurrency exchanges in the market, Shapeshift is a non-custodial exchange.
Custodial exchanges, such as Coinbase, Kraken or Poloniex provide their users with crypto wallet addresses and exchanged tokens are stored in those wallets until the users withdraw them.
If you want to use Coinbase to swap Bitcoin for Ether, then your bitcoins must be in your Coinbase BTC wallet and you will receive your Ether in your Coinbase ETH wallet.
Non-custodial exchanges work a bit differently.
They don’t provide wallet addresses for their users. Instead, users use their own personal wallets or those provided by custodial exchanges.
This means the exchange itself doesn’t store any cryptocurrency, which makes it a much less appealing target for potential hackers.
Since am not among the many ShapeShift users, I found myself similar sites, and I must say, your search should end here as this is already a comprehensive list of them.
Let’s look into some of the best Shapeshift alternatives.
ShapeShift.io alternatives without verification
Below are the best alternatives to Shapeshift exchange, and all these Shapeshift competitors work without any KYC Registration and Identity Verification.
1. CoinSwitch (Recommended)
CoinSwitch is not a cryptocurrency exchange, but an aggregator that connects various exchanges like Bittrex, Binance, KuCoin, etc. to bring you current liquidity for your crypto-to-crypto coin swap.
The good thing about this service, is that it doesn’t require you to make an account, or registration on any exchange and not even on CoinSwitch itself.
Recommended read: CoinSwitch complete review on how it works
So you can simply trade, buy or sell over 300 cryptocurrencies, Altcoins, tokens and major coins like; Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin(LTC), etc using the platform.
Moreover, you can see, what best offers are available to you for a particular cryptocurrency pair that you wish to trade.
Each time you complete a minimum of $100 worth of transaction using my own affiliate link… Guess what??!
You will get free $5 bonus, which will be added to your purchased amount in Bitcoin, while me as an affiliate will earn a commission of $5.
So it’s Win-Win thing
Isn’t that awesome?!!
Changelly is currently, the closest ShapeShift looked alike and that’s an advantage now.
Changelly is an instant cryptocurrency swap service, but it requires you to register using your email ID, which wasn’t the case earlier with ShapeShift.
But you can simply bypass this by using an alias email ID and in return, you will get access to a full auditable transaction history in your Changelly account.
In my opinion, this is a good feature to have which was missing in ShapeShift.
Apart from that, all the things are similar to ShapeShift, and you get access to supersonic crypto-to-crypto swaps at the best rates.
Changelly now supports more than 130 cryptocurrencies, and I find its UI quite clean for even a noob to understand.
They charge a quite low commission fee (0.5%) and offers the best available rate at the moment the transaction is completed.
Through ChangeHero, swap 100+ cryptocurrencies in an instant with no KYC and no account registration
It is an instant cryptocurrency exchange service that provide best market rates without hidden fees. They have been operating in the crypto sphere from couple of years and have the experience needed to perform highly secured crypto swap services.
Most importantly, unlike many other instant crypto swap services, ChangeHero doesn’t require sign-ups and hence you can complete your transactions anonymously.
Their UI super intuitive to use and support channel quite supportive in answering your questions. Lastly, they are allowed cards on their platform meaning, you can use Visa or MasterCard to easily exchange your cryptocurrencies.
Flyp.me is another alternative to ShapeShift.io that allows you to exchange one crypto to another in an anonymous way.
Using Flyp.me, instantly and securely exchange 26 cryptocurrencies straight to your crypto wallet and no registration, email, or ID will be required.
And it gets better:
With Flyp.me you are always in control of your funds and have an option to become an FYP token HODLer to get 50% profit sharing forever.
One of the challenges of such types of services is to gather enough liquidity, but currently, Flyp.me has decent liquidity of 10 BTC every day.
MorphTrade is an instant crypto exchange that helps you safely split, convert, or forward blockchain-based digital assets to any wallet address.
I know many of you might be thinking;
“what is meant by ‘split’?”
Well, it simply means that you can receive your initial crypto assets exchanged in multiple coins or assets in a single transaction.
For example, you want to exchange 1 BTC to LTC, ETH, and XMR, so you can do so in one transaction using MorphTrade by allocating appropriate exchange weight.
And like the former ShapeShift, there is no need for signups or account creations while using MorphTade and here is their fee schedule.
BlockTrades allows you quickly and safely exchange cryptocurrencies without the hassle of making an account on various exchanges.
That’s why it is an alternative to ShapeShift but this is a relatively new service and has a bit outdated UI.
Anyways, it is working fine and is being maintained decently. Recently they have listed Bitcoin Cash SV also on their service which shows that they are being updated.
You have an option to sign-up if you wish to keep you transactional history whereas you can exchange currencies without sign-up also.
Final words on ShapeShift alternative
Since ShapeShift has finally shifted its business to the complaint model, many competitors are now emerging to benefit from the kind of services it use to offer initially.
I am very confident that these services listed above will serve you in the same way you would’ve wanted with ShapeShift’s previous model.
I strongly recommend you to use CoinSwitch to swap and purchase your desired cryptocurrency, as the service is known to be the best ShapeShift alternative without registration or ID verification.
Now, that’s all from me, so which of the ShapeShift.io alternative are you currently using for your regular crypto-coin swap?