Revolutionizing Digital Currency Trading
ShapeShift has taken a giant leap into the future with the launch of its multi-currency iOS app, aiming to simplify the way users trade major digital currencies, including Monero and Counterparty. CEO Erik Voorhees expressed his dissatisfaction with current exchange security protocols, labeling them “archaic and insecure” in a recent press release.
Security: A Thing of the Past?
During the app’s special unveiling, Voorhees reflected on the industry’s growing pains, particularly emphasizing the lessons learned from notorious failures like Mt. Gox. “Most exchanges hold customer funds and extract personal information, which is an archaic and insecure model,” he insisted. ShapeShift has made it its mission to innovate past these vulnerabilities by implementing a model where user data is not stored, ultimately minimizing risk.
Data Protection Without Compromise
ShapeShift’s standout feature is its commitment to privacy. Users can trade without the need for sensitive information—no storage of personal data on servers or devices means less exposure to potential breaches. This design choice echoes a determination to revolutionize user security in digital currency transactions. “Having a presence on mobile is a crucial step in our roadmap for delivering the most frictionless experience possible while working at the speed of digital currency,” Voorhees elaborated.
Frictionless Trading Experience
The app promises to streamline the trading process. Customers can download it without creating an account, username, or password. Trading can occur instantly upon depositing funds and submitting a recipient address. This ensures that users can engage in quick transactions—perfect for those spontaneous purchases where time is of the essence.
What’s Next for ShapeShift?
While the launch focused on iOS, many users are eagerly awaiting an Android version. As digital wallets gain traction, keeping pace with competitors, including Apple’s aggressive promotion of Apple Pay, is crucial. With the recent discrepancy in Apple Pay’s traction in the global market, ShapeShift’s app could present an attractive alternative for shoppers, enhancing liquidity and easing payments.
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