Wallet Will No Longer Feature the Shapeshift Service – Announcements Bitcoin News

News Wallet Will No Longer Feature the Shapeshift Service

This week we wanted to let our wallet users know that we are sunsetting the Shapeshift API in the Wallet. The trading platform Shapeshift has decided to change the firm’s business model to a membership platform that requires the user to submit ID/KYC information. 

Also read: Bitcoin Cash Games — Play Your Favorites Faster With BCH

Shapeshift Applies Membership Model

This week you may have noticed that the Shapeshift feature in the Wallet may not be working depending on where you live. That’s because has come to the decision to remove the in-wallet swapping service from our Wallet client. The Wallet is a non-custodial light client that holds both bitcoin cash (BCH) and bitcoin core (BTC) in a simplistic and secure fashion. Since we launched our wallet back in August 2017 we’ve seen 2.9 million wallets created so far. Our wallet is available for Windows, Linux, Mac, Android, iOS, and Android APK allowing anyone in the world the means to secure funds that are not held by a third party. Following the introduction of our wallet, the team at partnered with Shapeshift and added the coin shifting feature to the client last February. Wallet Will No Longer Feature the Shapeshift Service

Last month the non-custodial crypto trading platform Shapeshift announced that the application would introduce a mandatory membership program. The firm has revealed that the membership program will require basic user information in order to utilize the crypto-to-crypto trading features. The company has further detailed that wallets using the Shapeshift in-wallet service will require a one-time authentication.

“If you are using a wallet that integrates with Shapeshift, you will need to authenticate once through the wallet to enjoy the benefits of your membership and to then use the service,” explained the company. Wallet Will No Longer Feature the In-Wallet Shapeshift Service

Even though Shapeshift will be required to use personally identifying Know Your Customer (KYC) flows, users can still visit the third-party site and still use Shapeshift with our wallet to exchange your bitcoin cash (BCH) or bitcoin core (BTC) for another cryptocurrency. Furthermore, there are several other non-custodial peer-to-peer exchanges available for cryptocurrency enthusiasts that our reporter Kai Sedgwick discussed a few weeks ago.

Our bitcoin-based light client is steadily approaching 3 million wallets created and is proud to serve each and every one of our users. As cryptocurrency wallet providers we want to directly communicate with our users on every new feature we add, as well as other subjects such as our decision to sunset the Shapeshift API from the Wallet. Stay tuned for more updates on our cryptocurrency wallet and other services we provide in the future.

Have you downloaded the Wallet? What do you think about our non-custodial light client? Let us know your thoughts in the comments section below.

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Tags in this story
BCH, bitcoin cash, Bitcoin Core, Wallet, BTC, KYC, N-Featured, Non-custodial exchange, Non-custodial wallet, Shapeshift

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