Ethershift is an "instant exchange" that doesn't have any accounts and doesn't require any user information in order to use the exchange. Ethershift is very similar to what ShapeShift used to be in that you do not need to create an account, there is no where to sign in, and an e-mail address or phone number isn't required to exchange between the ERC-20 tokens on the website. Ethershift doesn't have a ton of ERC-20 tokens listed on their decentralized exchange at the moment, but it looks like they plan to add more soon.
With Ethershift you will be able to deposit Ethereum to their exchange and receive Origin Trail tokens, Bee tokens, Binance coins or more directly to your ERC-20 compatible wallet. For example, if you log-in to your Metamask wallet, then you will be able to send some Ether from your wallet to their deposit address that they specify and within about 10 minutes you will be able to recieve these Bee tokens or whichever token you're interested in buying in the same wallet.
Ethershift currently has about 90 ERC-20 tokens that you can trade for, but hopefully there will be more in the future as they plan to integrate with every wallet, ATM, and payment process to allow for the trading of 100+ assets and counting.
Ethershift has also recently added Target, Walmart, Amazon, Starbucks, GameStop, Nike, Netflix, and more gift cards to their exchange which will allow you to simply send them any ERC-20 that they accept and allow you to exchange it for one of these gift cards. They have some $20 gift cards, and then it goes up to $100. Although keep in mind that they take a pretty large fee whenever you make any exchanges on their website which is about 5% or more depending on the volatility of the cryptocurrency you're using. So if you plan on buying a $20 Starbucks gift card from them, digital codes only, then prepare to spend about $22-$25 for this gift card. You will need an e-mail address if you buy a gift card.
The price of using this exchange no matter what coin or token you are trading, there will always be a fee, but to some people who are in a hurry or who find decentralized exchanges confusing then this will be a quick and easy solution to trade ETH for any of the ERC-20 tokens on their exchange or if you are interested in swapping one ERC-20 token for another. Also, worth noting is that you can't trade as much as you want at a time. I was just messing around with this exchange a little and it looks like they have a 3 ETH deposit limit on some tokens, so if you are looking to buy a large amount of a token, then this is probably not the right place to trade.
However, Ethershift is a fast, no accounts based decentralized exchange that is very convenient to use. It's not very cheap and there are going to be pretty high fees taken from each transaction, but if you're looking for a decentralized exchange that you should be able to trust and that will allow for 10 minute transactions or less on average then this could be a good option.
Also, worth noting is that Josh Case, the founder and CEO of Ethershift, has recently required ClearPoll for an undisclosed figure. And you will be able to buy ClearPoll tokens on Ethershift if you are interested. These two cryptocurrencies are now obviously going to be related in some ways. Further, according to the Ethershift website, holding Ethershift tokens is going to be worth something, as "Ethershift tokens represent a revenue share of 50% of ALL fees collected by Ethershift. Each quarter that 50% will be airdropped to Ethershift token holders." Both Ethershift and ClearPoll currently have revenue sharing models with their token holders.
I think Ethershift is following in the footsteps of ShapeShift but in a more unique blockchain which is ERC-20 tokens swaps , it is also nice to know that they also have a revenue sharing model for holders of Ethershift tokens. Which to me is a better reason for me to buy into their token and start using the platform knowing fully well that i will make some rewards from my transaction on their platform @the4thmusketeer
You may not make too many rewards on the platform, it's hard to say. But it is good because it is a trustless decentralized exchange, and you can also buy gift cards. I might end up buying a few Starbucks or Amazon gift cards.
Good to know, these are exactly the kinds of things I'm looking for!
A shame it's only ERC-20 though.
Yeah, I know other products like this are coming in the future that have more versatility. I'm invested in a project similar to this that I'm confident will be successful in the future.
A very interesting possibility and notament for gift cards. I confess I do not know that I think of tokens erc -20. There have been so many projects that have not succeeded, that the current period that seems to be hardening is perhaps a brake on development.
Concerning gift crats it's a good good news that gives a link between the virtual and the real.
It is through these small changes that the people can project themselves into the crypto and believe in it. I speak well on skeptical people. Thank you for this article
Ethershift is the exchange of new ERC20 tokens that provide the easiest way to get new tokens & new arrivals before the big exchanges enter them!
This concept of without account and registration looks new but I hope they are following all the security measures to avoid any issue with transactions.
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This is a trustless decentralized exchange, so I think you'll be fine. Just test it out with small amounts at first.
Ethershift's vision is to create a fully decentralized exchange that is not new, and many of us know that exchanges follow this standard, such as Forkdelta. The problem is that exchanges are too complicated for most people to use, so they are rarely used by average cryptocurrency holders. If implemented correctly,
I really like ether shifts
Exchanging crypto to giftcards without the need of registering an account is awesome. Thanks for sharing!
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Thank you for the information you provided. Frankly I have never heard of Ethershift. I will try to learn more about it before trading on the blockchain. Success for you.
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