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Shapeshift Market Positioning

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Shapeshift

Swiss-based cryptocurrency exchange, Shapeshift, is putting itself in a position to capture market share in a specific niche of the new concept of international currency. Cryptocurrency is backed by notable advancements in payment technology but still lacks the endorsement of a credible entity such as a large corporation or government.

Nonetheless, the company has leaped a long way in the last couple years as it has secured nearly $12 million in its last 3 funding rounds. Nine unnamed investors contributed an astonishing $10.4 million in its most recent Series A funding round back in March of 2017. The company never disclosed its current valuation at the time.

KeepKey Acquisition

In August of 2017, the Seattle based hardware wallet provider was acquired by Swiss-based cryptocurrency exchange, KeepKey, in an all-cash deal estimated by analysts to be worth north of $1 million. As previously mentioned, KeepKey is a piece of hardware used for storing a multitude of cryptocurrencies from Bitcoin to Dogecoin.

The fact that KeepKey is now compatible with Shapeshift means that traders will be able to utilize a trading platform that can export coins to hardware wallets, remaining as the greatest benefit in the acquisition. The acquisition came at an imperative time; right before Bitcoin soared above $19,000. Furthermore, the company was a prime target for acquisition while Shapeshift’s desperate need for security persisted after the 2016 hack that resulted in the theft of $200,000. Other than security, the infamous exchange knew that its next step needs to be attacking its fee schedule.

Bitfract Acquisition

A little over a week ago, Shapeshift AG bought the tool Bitfract, known for its ability to swap currencies in seconds without charging erroneous fees. In just seconds, investors can swap their ‘no name’ coins worth pennies for Bitcoin, or vise versa. Fees on the Shapeshift exchange are said to begin to decrease dramatically as the company looks to provide more efficient solutions to its customers in a competitive landscape for self-made crypto brokers.

The sentiment around the exchange may vary depending on who you ask, as the exchange sits under fire from the world in aiding the process of money laundering. In the process, Shapeshift has created the single fastest digital asset exchange in the world.

Final Thoughts on Shapeshift

The old saying definitely sees fit: “If you can’t beat them, join [buy] them!”. Without these two additions, it would have been hard to predict that Shapeshift would have survived. Right now the company sits atop its latest $10 million funding round, deciding which direction it should move next. If the startup has any aspirations in becoming a top-notch exchange, it should begin by trying to win over the appeal of governments other than Switzerland.

There’s a case to be made that the advantage over using the newly revamped Shapeshift is that once a cryptocurrency is converted to Monero, it’s impossible to crack down on money laundering. If Shapeshift’s leader and CEO, Erik Voorhees wants to scale his technology, then he may want to go against the company’s core values by initiating ‘know your customer’ protocols.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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