Digital asset trading platform ShapeShift on Monday announced the launch of a non-custodial crypto management platform operating across multiple blockchains.
The company has been developing the new platform for the past six months and has it tested under a private beta program for before the June 8 launch.
Along with the integrated suite for digital asset management, the platform offers options to, buy, sell, and trade digital currencies, along with secure storage facility and services to track the assets.
— ShapeShift (@ShapeShift_io) July 8, 2019
“Experience a completely new ShapeShift — the most secure and user-friendly crypto platform in the industry. Buy, sell, send, receive, trade, track, and hodl most major cryptos in a non-custodial way,” the platform noted.
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Making a secure platform
Per the announcement, the platform supports 50 digital currencies, including Bitcoin, Ether, and Litecoin. And to give the users control over their funds, the platform integrated support for multiple hardware wallets – Tezor and KeepKey. According to ShapeShift, this will eliminate security risks to the platform.
The cryptocurrency trading platform is also boasting its low fees for buying and trading assets.
“Buy Bitcoin and other assets directly from your bank account. Fees are less than 1% — the best in the industry.”
In a statement to Cointelegraph, Erik Voorhees, founder and chief executive of ShapeShift, said: “Non-custodial means that a user doesn’t have to trust someone else with their funds. It means they stay in control of their private keys, and thus they are fully in control of their crypto. Usually, people sacrifice user experience or functionality in order to achieve control of their keys, but we built ShapeShift to make it easy and convenient to hold and interact with digital assets from a standard web-browser.”
With the new platform, the company is aiming to compete with Coinbase’s services. Voorhees also believes that ShapeShift’s platform is much secure than Coinbase as it does not store any crypto of its users.
Though the company is evolving its products now, its business was hampered with the year-long bear in the market, and earlier this year it laid off 37 employees.