ShapeShift Crypto Exchange Service Gradually Dumping Its No-Account Scheme

The exchange is offering an initiative, promoted as a loyalty program. The company offers users some benefits for those who submit their private information

Wed, 5/09/2018 - 12:11

ShapeShift Crypto Exchange Service Gradually Dumping Its No-Account Scheme

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The exchange is offering an initiative, promoted as a loyalty program. The company offers users some benefits for those who submit their private information, thus leaving behind its scheme that does not require user accounts.

The CEO Erik Voorhees says he hates the thought of collecting users’ personal data on an obligatory basis and wishes that it were not so necessary. Apparently, the head of ShapeShift prefers not to wait for regulators to put the startup into a tight corner, requiring the implementation of KYC rules.

The participants of the membership program will enjoy discounts and bonuses paid out in FOX tokens if the volume of their transactions exceeds a certain level.

#Cryptocurrency exchange

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.