ShapeShift Crypto Exchange Service Gradually Dumping Its No-Account Scheme

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Yuri Molchan
The exchange is offering an initiative, promoted as a loyalty program. The company offers users some benefits for those who submit their private information
ShapeShift Crypto Exchange Service Gradually Dumping Its No-Account Scheme
Cover image via U.Today

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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and 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.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.