ShapeShift have stopped its anonymous cryptocurrency swap services.
They broke down with change to their USP, and business model, which initially made it the most promising crypto swap service.
ShapeShift exchange services now requires KYC (i.e. Know Your Customer) to do so.
According to some information gathered, it seems ShapeShift gave-in to the regulatory pressures it’s been facing earlier.
This is due to its model that allows buying and selling of crypto 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.
What is ShapeShift?
Shapeshift is a crypto-only exchange (i.e. crypto-to-crypto swapping, but not with fiat currency).
Unlike many other cryptocurrency exchanges in the market, Shapeshift is a non-custodial exchange.
Custodial exchanges provide their users with wallet addresses, in-which exchanged tokens are stored on the user’s behalf.
Non-custodial exchanges work a bit differently, and 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 asset, which makes it less appealing target for potential hackers.
Since ShapeShift have changed it course, I’ve found you similar sites that you can actually use to swap cryptocurrencies instantly.
Let’s look into some of the best Shapeshift alternatives.
Shall we?
ShapeShift.io alternatives without KYC
Below are the best alternatives to Shapeshift exchange, and all these competitors work without any registration or ID verification.
Changelly
Changelly is currently, the closest ShapeShift looked alike and that’s an advantage now.
it’s an instant crypto 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 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.
ChangeHero
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 market for couple of years, and have the experience needed to perform highly secured crypto swap services.
Most importantly, it doesn’t require sign-ups, and 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 cryptocurrencies.
FlypMe
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.
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
MorphTrade is an instant exchange that helps you safely split, convert, or forward blockchain-based digital assets to any wallet address.
What is meant by ‘split’?
Well, it simply means that you can receive your initial crypto assets exchanged in multiple crypto 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 by allocating appropriate weight.
Unlike the former ShapeShift, there’s no need for signups.
BlockTrades
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 they’re being updated.
You have an option to sign-up to keep you transactional history, but you can still exchange currencies without sign-up.
Thoughtful words
Since ShapeShift finally shifted to the complaint model, many competitors are now emerging to benefit from the initial services.
I’m very confident that these services listed above will serve you in the same way you wanted with ShapeShift’s previous model.
Do not forget to always use good VPNs (Virtual Private Networks) for hiding your crypto transaction footprints.
