21/11/19 05:07 UTC-5

ShapeShift cryptocurrency exchange cancels trading with commissions

The ShapeShift platform enters the FOX tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
so that customers do not pay a commission fee. Each user receives 100 FOX coins per balance, according to the medium resource.


ShapeShift users trade at $1000 per month

Exchange creator and CEO Erik Voorhees plans to compete with Coinbase and Kraken. To do this, ShapeShift launches the FOX token so that users trade without commissions. All customers receive 100 coins, of which each token costs $10 free tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volume for a period of 30 days. After this, zeroing occurs, and FOX can not be sold or used, as cryptocurrency news reports.  

Thanks to the introduction of the coin, exchange customers can trade in the amount of $1000 per month. Erik Voorhees believes that the initiative of the exchange will motivate customers to use the ShapeShift service, ignoring the fact that there is no asset storage service. Exchange profits will not decrease, since customers without FOX tokens will pay a commission fee. Commissions also charge miner operations. The creator of ShapeShift believes that trading volume will increase by 30%.

To receive FOX, the client binds the account to the Trezor or KeepKey wallet. The new Portis service is also suitable.

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See also: "Binance acquires WazirX Indian cryptocurrency exchange"

#cryptocurrencyexchanges #ShapeShift #TokenFOX #cryptocurrencywallets

Editor: Daria Mukhina