As per the latest crypto news update, ShapeShift which is a company that provides global trading of a variability of digital assets via web and mobile platforms have recently announced that it has introduced a collection of basic individual information a tiered membership model which will have extra benefits for higher tiers like reduced fees.
According to CEO Erik Voorhees, decentralized exchanges are seen as an important part of the crypto ecosystem. The company believes that individuals deserve the right to be a part of financial privacy, just as and this privacy can be the foundational element of a civil that must be protected by all good individuals.
Crypto news revealed that Voorhees also claimed that a lot of users have requested account-related features like transaction history, whitelisted addresses, and email notification also due to the increasing interest of tokenization and the requirement to be judicious and considerate in the approach has made the company shift to the new membership model.
However, as per Finder, Voorhees stated that the Membership program, as well as FOX token, are schemes that are created for the customers. The annoyance of mandatory KYC in that Membership program is a decision done to make lesser risk under pressure. There is also the significance of monetary privacy and decentralization if ShapeShift’s AML compliance is applied then it can add to the motivation to develop and the use of decentralized exchanges.
A report published in Bitcoin News stated that as per Shapeshift without customers personal information, it won’t be able to offer greater order limits and would not be able to serve a lot of authorities. Shapeshift Membership is a loyalty program that will add every advantage depend on the membership level which will include a good amount of trading limits, rewards, good pricing, private market and trade data, and easy access to new coins, products as well as services as mentioned in the latest crypto news.
The post Crypto News: ShapeShift To Mandate Membership Model For Users Information appeared first on OWLT Market.
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