It’s finally here! Shapeshift’s New Platform launches today! I have been using their beta platform for several months now reporting bugs and helping add some user friendly features by reporting feedback and ways to improve this brand new non custodial platform. I wrote a pretty in-depth review of the beta a few weeks back, so I won’t rehash the entire user experience here, so I will link that review so you can get the nitty-gritty details HERE.
This is an exciting time for cryptocurrency in general. Facebook is launching a controversial new coin called “Libra”. The government has sent a request to have the development of it stopped so they can review it and “approve” it before it’s released. The audacity of this, as if they have any say in what private organizations can and cannot work on is baffling, but I digress.
I will briefly detail below some of the key features and benefits of using this platform and non custodial exchange for all your crypto asset management.
Trade Assets Offline
The cornerstone feature here (in my opinion) is the fact that we can perform trading assets while having our private keys kept completely offline via the KeepKey (Or Trezor). They are also planning to add Ledger support soon as well, but the easiest hardware wallet to use is by far the KeepKey, as it was the primary wallet used during beta.
As you can see above, the dashboard is very streamlined and easy to view and manage the assets you can trade, view the balance and the price, view market cap, and so much more. The ability to have all the information I need in one place is very convenient. additionally, I can view my portfolio without having my hardware wallet present. In fact, I only need it to sign a transaction. Once you sign, you can disconnected it and it will be transferred to your wallet balance immediately and be reflected next time you connect.
Shapeshift has really thought of the user experience and making it easy for anyone of any skill level and knowledge of crypto to safely manage their private keys and learn how to trade using this platform. Now that the platform is out of beta, they will be focusing on adding more assets being added to the platform for trade and asset management. As this is also a trade engine, as well as a portfolio manager, incorporating more detailed analytics will only improve upon this foundation.
Manage Your Portfolio In One Location
Here are some of the touted features of this platform, and why you should sign up for free HERE:
1.) Shapeshift Trading – You can seamlessly buy, sell, or trade dozens or crypto assets directly in the platform. Trading is non-custodial, so there is no need to trust a third party. This is a MASSIVE plus and a differentiator from any other exchange out there.
2.) Hardware Security – Utilize the best practice of offline security. Retain control of your private keys while enjoying an intuitive web interface. This is the best of both worlds and I will add that this is not currently possible on any other hardware wallet platform currently.
3.) Real Time Market Data – Get real-time market prices and historical data without ever having to leave the interface. This means no extra tabs or historical charts from any other 3rd-party site that you have to toggle between to get the data you need. This allows you to enjoy a beautiful ad-free experience.
4.) Portfolio Performance – Visualize your portfolio performance through graphs, sparklines, and real-time value movement. View your dashboard balances at anytime, anywhere. Your hardware wallet only needs to be connected for signing transactions.
The video below gives you a quick demo of how this works. It truly is a unique hardware wallet experience.
Shapeshift’s New Platform: Conclusion
After personally testing this platform and providing feedback and improvements for several months, I am very proud of what the Shapeshift team has accomplished. I am also excited to see how it expands with other hardware and new features and coins that will be added. There is NO other exchange that offers non-custodial trading, and to me that is a HUGE deal.
Part of “Becoming Your Own Bank” means maintaining full control over your funds at all times and not having to put trust in anyone but yourself. Self sovereign finance is the way of the future, and that is very exciting to see how this will continue to play out as adoption continues to snowball.
***CLICK HERE TO BUY KEEPKEY FOR 50% OFF FOR A LIMITED TIME ONLY***
Just click the above link and use code “GENESISFOX” at checkout
What do you guys think? Are you excited for the revolutionary change in asset management? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Paxful Review (2020) | Can I Trust It To Buy Bitcoin?
In this Paxful review, I am going to go over this unique marketplace that allows your to trade gift cards, use Paypal, use Zelle pay, and so much more for buying bitcoin! Paxful is one of the most dynamic marketplaces where buyers and sellers meet to sell and buy bitcoin, however, they have a myriad of different payment methods that are accepted to make this happen that cannot be found elsewhere. Additionally, you can simply just buy bitcoin with a credit card and choose not to deal with the hassle of multiple options. But how is this different than CoinMama?
Well, CoinMama is the leader in simply buying bitcoin with a debit or credit card and offers only bitcoin and a few altcoins. This provides a lot of different methods for people that may have some gift cards or other form of monetary value, but wants to dabble their way into obtaining bitcoin without buying it directly with their bank card. Stay tuned for this article as we will dive into the most relevant questions and answering how this can be done and why you want to.
What is Paxful?
Paxful is a peer-to-peer marketplace that allows buyers and sellers to meet online and exchange multiple different payment methods for bitcoin purchases. It uniquely accepts up to 300 different payment methods to utilize in your purchase of bitcoin, including: MoneyGram, Amazon Gift Cards, iTunes Gift Cards, Paypal. Western Union, and more! It allows you to use virtually any payment method you can think of to buy bitcoin instantly!
Similar to LocalBitcoins, in the sense that it’s a peer-to-peer marketplace, it allows multiple people to exchange value without requiring idenification or other traditional KYC methods needed to transact in bitcoin and engage in a mutually agreeable exchange of value between two people with the peace of mind of using an escrow service of Paxful, using only minimal <1% Paxful Fees.
Is It A Trading Platform Or An Exchange?
It’s technically both, but it’s best to call it a peer-to-peer marketplace, similar to eBay. As mentioned above, unlike traditional exchanges, it doesn’t necessarily require any KYC (in some cases) pr any personally identifiable information to transact. Additionally, it allows you exchange other cryptocurrencies, gift cards, bank transfers, or even cash to obtain bitcoin, in most cases instantly.
A trading platform is typically described as a direct exchange for fiat or other cryptocurrencies where the exchange serves as the middle man taking a cut for each total transaction. Paxful only takes less than a 1% fee for the total transaction (which is much less than other exchanges, like Kucoin or Coinbase). Additionally, there are no custodial services used here, so you always possess your private keys, leading up to executing the transaction, where it goes into an escrow account for protection until the transaction is verified by Paxful.
Supported Currencies (Fiat And Crypto)
Paxful deals with the buying and selling of Bitcoin only.
Since the money is sent directly to the sellers, the site itself doesn’t hold fiat currencies for users. Sellers on Paxful accept over 300 payment methods, with the most the most popular ones being credit cards, PayPal, Amazon gift cards, wire transfers and Western Union. Keep in mind that different payment methods will result in different exchange rates.
For example, non refundable payment methods (bank transfers, cash) will usually have lower exchange rates while payment methods that allow for chargebacks (i.e. credit cards, PayPal) will cost more.
For a list of the full 300 different payment methods that are accepted on the site, click HERE.
Paxful Fees
What makes this different than other exchanges or platforms is that Paxful does not charge a direct fee to use the platform. Sellers can charge a premium (if they choose) over fair market value to factor is risk or other potential fees that they might incur, however, it ultimately depends on the payment method the buyer chooses to use and what the buyer and seller agree upon.
Sellers ultimately pay Paxful a 1% fee when a transaction is confirmed, but this is not passed on to the buyer.
This does not include the bitcoin network fees that are standard with with ant bitcoin transaction on the blockchain and that is paid to the miners directly.
Paxful Review – Conclusion
Overall, Paxful is a unique and resourceful way to get bitcoin with non-traditional methods. As being essentially the eBay of bitcoin purchasing, this is one of the most effective ways to get your bitcoin with other monetary sources that are not accepted by traditional exchanges. For instance, if you have an amazon gift card and you want to use that trade it for bitcoin, you simply just need to match with a verified seller who is wiling to make that trade.
As with any service, there is always a potential for fraudulent players, so you’ll want to be careful with the sellers you match with and ensure they have a good seller rating. My experience with selling an Amazon Gift Card, was pretty seamless, and I didn’t end up having to use any arbitration or moderators in the process. I have heard of some users that did not have such a good experience, but again, that mainly falls within the due diligence of who you match up with and trusting that Paxful will do the right thing is they need to get involved.
Bottom Line: I would use this service again and I would recommend it to my friends and family since my experience was pleasant and with offering over 300 different payment methods you can use, it opens up a lot of doors to people that otherwise would not be able to obtain bitcoin via their bank or credit card.
What do you think? Is there a better way for people to obtain bitcoin with non-traditional payment methods? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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KeepKey Vs. Trezor Vs. Ledger: Which One Should I Buy? (2020)
In this review, I will go over all 3 primary hardware wallets and see the show down of KeepKey Vs. Trezor Vs. Ledger. People always ask me when they realize they need to start taking their private key security seriously is “Which hardware wallet should I buy?“ This questions has been presented to me hundreds, if not thousands of time, and there is no one real “clear” answer.
It ultimately depends on which coins you want to store and how you want to access them. Do you plan on trading your coins often? Are you simply just trying to “buy and hold” for several months and several years, like a set and forget situation? Are you planning on using the wallet to “bake” or use to contribute to the blockchain on proof-of-stake (POS) networks?
While these are all valid questions, I personally have all 3 wallets and use them regularly. Why? Well, aside from being in the industry, and needing to stay up to date on these devices and their features and capabilities, the main reason is to diversify. What do I mean by this?
Well, if you have (or plan to have) significant holdings, it is smart not to have all of your coins or private keys on one wallet, just in case. Now I’ve created a free e-book that explains how to avoid this which you can get for free HERE, but ultimately if you are in the market for a wallet for the first time, I will tell you the wallet I like to use the best right now in May of 2019.
KeepKey VS. Trezor VS. Ledger
Stay tuned below for the final result, but I go over some pros and cons of each device below. They all are very secure and safe to use, but it really just comes down to preference and really how often you decide to interact with the device. Let’s get right to it!
#1 TREZOR
There are two versions of Trezor: Trezor One and Trezor Model T. The former is the entry level device that came out 2013 and has since received regular firmware upgrades enhancing it’s security and adding new software support for native and 3rd party applications for new coins. In 2018, they released their 2nd-gen product called the “Model T“.
The latter is a larger device with touch screen and is operated by a “Beta” wallet that supports over 1,000 coins between it’s native applications and 3rd party integration. Most recently, they added NATIVE support (which is a huge upgrade in my opinion) for Ethereum (ETH) and Ethereum Classic (ETC). This means it is connected to its unique application that was custom designed by Trezor to manage your ETH accounts directly in the app. Previously, any ETH or ERC-20 based token required to use a 3rd party wallet, which was annoying and cumbersome.
I understand there is a lot of development work that goes into creating and managing any native app, but Ledger and Trezor already had native support for this, (as they should) considering it’s been in the top 3 coins by market cap consistently for years.
Trezor Model T however, is a massive upgrade and adds not only native support for multiple coins, but has added security in the form of a PIN entered in on the touch screen of the device instead of the web app used on the web application. This upgraded device was used for several new features including a password manager and multiple additional security options and ease of use for recovery options on the device itself. Very powerful. Below is the overall feeling I have about the device(s) and the overall team behind them.
Bottomline: They have upgraded some basic functionality, which is good, and to their credit they have added support for some coins that really need it, such as Monero and Tether. This is of course when their team collaborates and helps build a supported wallet to tie into their code base. They have been building a foundation for the future and that is going to work in their favor as soon as each coin’s respective development team decides to catch up.
-Binance Coin (BNB)
-Monero (XMR)
-Cardano (ADA)
-Ravencoin (RVN)
-Tether (USDT) *Stable coin*
#2 KEEPKEY
Keepkey has always been a favorite of mine, as it’s a solid design and very sleek and stable frame that just feels good when you hold it in your hands. Now let’s get into the nitty-gritty. For years, Keepkey only supported: Bitcoin, Litecoin, Ethereum, Namecoin, Dogecoin, and Dash.
For a hardware wallet that needs to compete in this market place, that needed a serious upgrade. Luckily, they have been making some AMAZING changes and not only added a ton of ERC-20 Support, but more importantly, they are revamping their entire platform to have one fluid, seamless application that integrates all of their core services (See my previous post for details on this).
This is extremely powerful, and a decision that I believe will catapult them ahead of the competition. They are currently in a closed beta, and it is expected that they will be releasing this later in 2019. Stay tuned for news on this.
Bottomline: Keep an eye out for the newest upgrades and the new platform that is coming soon. I hope to gain access to the private beta soon, and if given access, I will ask permission to write a review for your guys. *UPDATE* I have gained access to the beta and have tested it thoroughly, please see below.
-Basic Attention Token (BAT)
-DigixDAO (DGD)
-Augur (REP)
-Polymath (POLY)
-TrueUSD (TUSD) *Stable coin*
#3 LEDGER
Ledger is considered “The most recommended hardware wallet” on the market. The simple reason for this is because it’s cheap (low barrier to entry) and they have been working on upgrading their infrastructure and recently released Ledger Live, which is their new desktop (and iOS) application for managing all of your coins. This is much better than their previous solution of using a chrome extension to access the UI, but Ledger Live is not without it’s quirks.
Overall, the UI is pretty clean and is pretty straight forward in terms of first time setup and detects your device when it’s plugged into the USB port and asks you to authenticate to view the app. The one thing most people don’t understand is the Ledger Nano S has very little RAM, so even though they advertise that it supports over 1,100 coins, you can only have approximately 3 or 4 coin apps installed at once on your device.
You will want to make sure you choose your coins wisely and perhaps get multiple devices if you want to diversify and/or use a 3rd party wallet as mentioned above to manage more coins on the same device.
This however, does not apply to the new Ledger Nano X. In addition to the new design and being able to manage this wirelessly via bluetooth, you can manage your coins anywhere on an iPhone or Android effortlessly. You also can support up to 10x the amount of apps or “coins” to be supported on the same device at once. This is huge if you want to diversify and be able to hold more than 3 or 4 at a time. The device is approximately $119 right now and it should be available to the public within the next 7 days. Very exciting.
Bottomline: It’s not perfect, but it has made some good improvements over the last year and is continually updating it’s coin support. I will list below some of the coins that are supported on Ledger currently that are not yet available on other platforms, which brings it’s edge.
I will say the best advantage (for me, anyways) that Ledger has going for itself right now is the fact you can “bake” Tezos on your hardware wallet directly, and no other hardware wallet on the market currently supports that. As a firm believer in that project and the fact I can participate in the network, while keeping my private keys offline is a HUGE plus.
-Ripple (XRP)
-EOS (EOS)
-Tezos (XTZ)
-QTUM (QTUM)
-USD Coin (USDC) *Stable coin*
KEEPKEY VS. TREZOR VS. LEDGER CONCLUSION: WHICH ONE SHOULD YOU BUY?
As I mentioned above, there is no definitive “correct” answer, as each person’s needs may differ. Now that I have that disclaimer out of the way, I will provide my personal recommendation if you are a first time hardware wallet buyer and you only need one to start out with. I will say this was NOT an easy decision, but here is what I would recommend to my mother or personal friend who is looking to secure their cryptocurrency in an easy to use way. I would recommend getting a KEEPKEY.
Why is this my answer? Well, as I updated above, I was invited to participate in their private beta (In depth review on that coming shortly) and I was blown away. ShapeShift (the company that bought KeepKey) has revamped their entire interface. This is extremely noteworthy because before, you had to download multiple applications, and chrome extensions to manage your private keys and it was not the best user experience. This has all changed.
Their new platform that will be coming out very soon and is by far the easiest to use and best hardware wallet experience I have seen yet. Not only can you easily trade coins while keeping your private keys on the device the entire time, managing your portfolio has never been easier. At the time of this writing, it is only $79, and while it is not the cheapest device, it is certainly the highest quality, and best user experience I have seen yet on their new platform.
As far I know, they have plenty of new coins and features in the pipeline, and it is so easy to use, even my grandma could use it and wouldn’t have to explain much. It really is the first plug and play hardware wallet experience I have used (and I’ve used them all). Again, it’s hard to give visualization of my experience, but with my upcoming review, you will see some screenshots and see what I’m talking about.
Overall, it has proven to be the easiest way (so far) to manage my funds safely, and the ONLY way to trade assets without handing my private keys over to an exchange or any other type of wallet or custodian. I highly recommend this hardware wallet if you are making your first purchase and trust me, you won’t regret it.
CLICK HERE TO BUY THE KEEPKEY HARDWARE WALLET DIRECTLY FROM THEIR WEBSITE!
What do you think? Would you have chosen something different? Please let me know below in the comments!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
