Instant cryptocurrency exchange, ShapeShift has released a new tool that allows website owners that currently accept Bitcoin payments or deposits to now accept any ShapeShift supported altcoin. Known as the Shifty Button, the company’s new tool works by placing a simple HTML code into any payment page.
By inserting the Shifty Button HTML code on web pages that need to enable a check-out process, the user is able to deposit leading altcoins, supported by ShapeShift, and the coins will be automatically converted into Bitcoin for the website owner. ShapeShift currently supports Litecoin, Peercoin, Darkcoin, Dogecoin, Namecoin, Nxt, Feathercoin, Blackcoin, BitcoinDark, Quark, Reddcoin and Nubits.
Speaking on the altcoin market, ShapeShift CEO Beorn Gonthier said,
“As the altcoin industry continued to grow over 2014, ShapeShift realized that there was a definite need for an easy way for businesses to incorporate altcoin payment options onto their online stores. The easier the process is, the more places altcoin users can buy goods online, and the more growth the altcoin community will see in 2015.”
As the digital currency ecosystem continues to grow, integration between platforms is becoming commonplace. ShapeShift has risen quickly as a convenient way to buy or sell leading digital assets, and now may be one of the easiest ways to accept altcoin payments on any website that currently accepts bitcoins.
ShapeShift’s model has set a new standard for consumer protection, by offering conversion services without the need for user accounts and deposits. After Bitstamp’s recent loss of $5mil USD worth or bitcoin, traders are increasingly realizing the risk of leaving money on deposit with any third-party. ShapeShift’s innovation is to operate more like a vending machine, in which the user instantly deposits one coin and receives another one, with no significant period of trust or custodianship required.
What do you think of the Shifty Button? Are you interested in testing it out? Would you be more inclined to spend your altcoins because of this new tool? Let us know in the comments.
Images from ShapeShift.io