One of the core principles of BitBoost is an unshakeable respect for your privacy. We do not believe that you should have to turn over personal data to use a service. For this reason, we monitor the privacy policies of the third-party services we have integrated into BitBoost Marketplace. In our next release, we will be replacing ShapeShift as a result of their policy change regarding your personal data.
What is ShapeShift?
ShapeShift is a convenient way to swap one cryptocurrency for another, and they have a wide range of coins available. Up until now, users could swap coins quickly, simply, and with no registration. BitBoost aims to provide a user-friendly experience, which is why we implemented a service allowing you to swap coins within BitBoost Marketplace. The alternative would require you to leave the app and open an account on an exchange, uploading personal documents and waiting days to get verified. With ShapeShift, you could swap BTC to ETH just by clicking a couple of buttons and then following the instructions.
However, ShapeShift is moving to a membership model, and will longer offer anonymous access to their service. It’s not clear why ShapeShift has made this policy change. There is speculation that their hand was forced by US regulators (https://news.bitcoin.com/four-alternatives-to-shapeshift/).
In any case, this change is unacceptable to BitBoost, and we are working now to remove ShapeShift and replace it with an option that respects your privacy. Once the new service is fully integrated and tested, we will announce all the details. No user registration will be required, so you will not have to identify yourself.
The new API will be available in-app, just like ShapeShift, and will be just as convenient to use. Our goal is to permit easy swapping between the currencies that are used in BitBoost Marketplace: ETH and TUSD. It will also be possible to use this service to buy ETH/TUSD with a credit card, but we are only including this as a convenience. It is important to note that buying with a credit card will not get you a good rate, it is better to trade your fiat currency for ETH using another method such as going through an exchange or buying through a local Bitcoin ATM.
With no operations in the US, it is our hope that the new service that we have selected will not change their business model, but if they do, then we will switch again to another service. Your privacy is not a secondary concern for us. BitBoost is committed to keeping your personal info under your control, and only your control. This is not something we will compromise on.