ShapeShift, one of our main partners, is one of the eldest OTC platforms in the cryptocurrency space and many other services rely on the exchange technology that it provides. Some of its partners simply use the Skeleton tool to put the generated code onto their websites, others, such as Jaxx, Exodus and our service BestRate use API for deeper customization. But regardless of the integration method, they all now have to look for another solution.
Starting from November 1st, ShapeShift implements mandatory KYC procedure for its users which complicates the life for its partners as the new rules apply to their users as well. The KYC will surely decrease their conversion and eventually the profits.
Advantages for partners
In this article, we’d like to tell about the new technology that we are planning to release in the nearest couple of weeks and that could be a good alternative to Shapeshift partners. As we’ve already mentioned in the previous article, we are launching our own OTC with the following benefits for our partners:
We are going to make the integration process as simple as possible so that projects could easily use our technology for their purposes. Simply generate the code of an exchange widget and place it on your website.
For those who want to use our technology in combination with their apps and services, we will offer flexible API integration.
Generous affiliate payouts
Our service will work on a monthly subscription and we will share a fair part of our profits with those who spread the word about our service and bring us new customers.
Advantages for end-users
This is not all. The end-users will also get a number of benefits, which will help you attract more customers and thus increase your profits.
- The best rate for exchanging cryptos. Usually, OTCs rely on only one or two exchange platforms to switch currencies. As there are several dozens of exchange platforms, the chances that the given platform will provide you with the best exchange rate are very low. BestRate will be integrated with a big number of different exchange platforms which will let you find truly the best rate to switch currencies and save your money.
- The best rate for switching huge amounts. OTC’s don’t have any special algorithms for switching huge sums as this is not their main specialization, that’s why end-users get the worst rate when exchanging huge amounts. We have developed special bots to resolve this issue. Currently, these bots are only available by request, but in the future, they will be integrated into our service by default.
- Full transparency. While the user never knows what’s going on with the funds that he transfers through an OTC and what fees he is charged on the way, with our technology, it’s possible to provide with the access to all the orders on exchange platforms. Also, we plan to add all the transactions to the blockchain in the future.
- Fair fees. Typically, OTC’s take their fees from the payment right after the money is sent into the system. However, the exchange process may take a long while, the rates may change and the sum that the user eventually gets may not correspond with the commission paid. With our technology, the fee will be charged only after the exchange is complete, and thus it will be transparent and fair.
- Enhanced security. The exchange will occur between the user’s personal wallets without our access to the private keys, so the transaction will be 100% secure.
We plan to release this new technology in just a couple of weeks. If you want to make use of it for your website or an app, send us an email to [email protected]. Keep your eyes open for the announcement in our social media accounts.