Cryptocurrency exchange, ShapeShift has launched a new program that, ultimately, will become a mandatory model for users on the exchange.
Eric Voorhes, founder and CEO of ShapeSHift, said that the exchange has launched a loyalty program called “Membership ShapeShift”. Although it is still ShapeShift was known as “the exchange without needing to register an account”, a new model of membership based on account creation will be integrated to “reduce friction and to protect customers.”
According to the statement, the program at this time is optional, but in the near future there will be a full switch, and each client will require, at a minimum, the provision of “basic” personal information. In the framework of the promotion, registered users will be able to access various products and services ShapeShift. The company notes that the system of rewards will change over time.
Until now, users had to log in for transactions. In his statement ShapeShift noted that “while the format for creating an account is new, we remain committed to protecting consumers through our model, not associated with mandatory registration, in accordance with which we do not have and do not store the deposits of its customers”.
Such claims found no support in cryptosuite
Earlier, another decentralized cryptome, LocalBitcoins, announced the introduction of customer identification on the platform, was subject to sharp criticism from users, especially after one of the users in social networks has published a screenshot of the received message, which said: “Error! The amount of your trade was significant in the last 12 months. Please identification to continue trading”.
Although the platform was in good standing in cryptosuite in 2012, some traders considered that the introduction of requirements regarding the identification of in excess of a certain trade level violates ethical norms of anonymity cryptocurrency.
Some pointed out that the platform has been used because it was not necessary to pass procedure of AML and KYC, considering that the only use of such data collection get hackers, who are regularly hacked recently user base for misappropriation of funds.
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