The recent altcoin boom has brought in a lot of new cryptocurrency traders and many people are looking for quick, cost effective ways to buy altcoins like Ethereum, Litecoin, Monero and others.
In today’s post I want to cover a relatively new type of altcoin exchange. It’s something I call “instant” cryptocurrency exchanges. These exchanges allow you to trade any cryptocurrency for a different cryptocurrency with a relatively simple process, small fee, speed and sometimes even anonymously.
Shapeshift – Fastest, most private and most convenient exchange
Shapeshift was founded in 2013 by Erik Voorhees and received its first round of funding only in 2015. Shapeshift does not let you buy crpytocurrnecy with fiat (i.e. Dollars, Euros etc.) but only to quickly swap between cryptocurrencies.
The process is fairly simple:
- You select the crypto you want to swap (i.e. send)
- You select the crypto…