#SHAPE SHIFT EXCHANGE PRO#

More information on DEXes can be found here. Since DEX's are decentralized this means no more contacting customer support and having to wait for a refund- as refunds should automatically process! The higher the miner fee and slippage % you set the less likely your trade is to fail. Keep in mind that the miner fee that was initially paid is not returned in the case of a failed trade. If the parameters are not met your trade will fail and the funds will be reverted to your wallet. Simply select the highest percentage you will allow to account for market slippage.Įvery order (as well as alteration and cancellation) is written to the blockchain. ShapeShift allows you to set the maximum amount of slippage for any trade you initiate. This happens in the stock market as well as the crypto market. For example, by the time blocks confirm and your trade executes, the price in ETH may have gone up in price. Since market prices are constantly changing, your trade rate is likely to fluctuate.

#SHAPE SHIFT EXCHANGE PRO#

Slippage is neither a pro or con, but important nonetheless. If the network is congested, you're more likely to encounter higher miner fees.ģ. Failed orders must be validated on-chain, which can be costly. DEXs are rapidly gaining popularity but if the pair you are trading has low liquidity, it may not be available.Ģ. 1 The company first began requiring personal identification information from its customers on October 1, 2018. Lots of tokens! Virtually any token can be traded as long as there is available liquidity.ġ. It is headquartered in Switzerland, but run out of Denver. No more needing to trust the exchange to hold your funds before executing the trade. * THORChain was founded in 2018 and solves the problem of cross-chain trading by building efficient, bi-directional bridges between blockchains at the protocol level in a permissionless, non-custodial manner.Ģ. * 0x is a DEX aggregator that enables the p2p exchange of assets on the Ethereum blockchain.

Essentially this means you can swap non ERC20 tokens via DEX. ShapeShift has integrated THORChain, which provides the ability for cross-chain swaps! This includes BTC, LTC, and BUSD. This allows our users to have access to trading over 1,000 different crypto assets! Below your rate you will see whether or not 0x or THORChain was used for the swap.ĭepending on the token pair you select, the trade will be completed through THORChain* or 0x* (more DEX aggregators coming soon). When you execute a trade with ShapeShift, you will see a field titled 'Rate'. You read that last part right no more entering your email or other personal information before you can execute certain trades on ShapeShift. The process of executing a trade is completely autonomous and does not require any personal info or verification. DEXs allow you to trade your tokens directly peer-to-peer (p2p) without a middleman. But what does DEX actually mean? DEX is short for decentralized exchange. If you're familiar with the crypto world you probably have heard of a 'DEX'.

Shape shift exchange