A crypto exchange is a platform that provides trading services to crypto investors and users. Exchanges might launch their own token in a bid to make payments easier for their users (traders). Binance Coin and Shiftal Coin are two of the fast-growing exchange coins that we are going to talk about today.

What is an Exchange Coin?


An exchange coin is like a standard cryptocurrency that is based on blockchain and created with a specific purpose.

Most exchange coins are Utility Tokens that are created with the purpose to grant access to the various services and features offered by the exchange along with the ability to use the coin for the payment of trading fees and other platform charges.

The benefits of using an exchange coin including privacy, security, and discounted trading.

How discounted trading works


Every time you trade on a cryptocurrency exchange, you have to pay a trading fee. Discounted trading is when you get a discount on this fee or the fee charged is lower than the standard rate. Many exchanges, including Binance and Shiftal offer discounts on trading fees for payments made via their native coins.

What is Shiftal Coin?


Shiftal Coin (SFL) is the native cryptocurrency of the Shiftal P2P exchange.

Shiftal is a peer-to-peer exchange that allows the trading of Bitcoin and ETH in 220+ countries using more than 75 payment options.

As the native coin for Shiftal Exchange, SFL can be used to pay trading fees, advertising fees, platform fees, and other charges on Shiftal. Users can avail of a discount in fees when using SFL. Users can manage their Shiftal coins via the dedicated wallet and use them for payments, trading & more. Later on, Shiftal will also launch its debit card, which can be purchased using the Shiftal coin.

The Shiftal coin is based on the TRON blockchain and offers a highly secure, efficient, fast & low-cost medium of digital payments within and outside the Shiftal ecosystem. SFL will be soon listed on the exchange for trading.

What is Binance Coin?


Binance coin (BNB) is the native cryptocurrency of the Binance crypto exchange. It works the same as the Shiftal coin. Initially, BNB was based on the Ethereum blockchain but was later moved to the Binance Chain, which is the native blockchain of Binance.

Binance coin is an exchange coin focused on security and efficiency. It provides a faster medium to pay the exchange fees as well as offers discounts to the coin users. Binance coin can also be used to make digital payments across a number of online/offline platforms. There is a dedicated mobile wallet to manage and use the coin.

Binance coin is listed on a number of cryptocurrency exchanges and can be traded against Bitcoin, ETH, and many other coins.

Shiftal Coin vs. Binance Coin


Binance Coin was officially launched in July 2017. Shiftal coin was launched in August 2021.

The total supply of the Shiftal coin is limited to 300 million coins, while the max supply of Binance coin is limited to 200 million.

Binance coin runs on the Binance Chain, which is the native blockchain of Binance. Shiftal coin is built and runs on the TRON blockchain, which is a more efficient blockchain with a faster block processing time.

The Shiftal coin can be used on and off the Shiftal exchange platform for fast & low-cost digital payments. The Binance coin can be used on the Binance exchange as well as select partner platforms for secure online payments.

The phase 2 sale of Shiftal coin is live. Those who missed the opportunity to buy Shiftal Coin during the first sale can buy now before 31st October. Find out complete details here.

What is Shiftal Coin Private Sale Phase 2?


The Shiftal coin (SFL) sale will be held in multiple stages. Private sale phase 1 has ended successfully and the phase 2 sale is live now.

The thing to note here is that the Shiftal coin price will increase with each sale. So, the earlier you buy, the best price you can get. Now is the best time to buy the Shiftal coin in the Phase 2 sale at the lowest price.

Where?

Shiftal coin private sale is live now on the official website – https://shiftalcoin.com/

To buy the coin, one needs to register on the Shiftalcoin website.

Shiftcal coin can be purchased with Bitcoin, ETH, USDT, and other options available on the website. Make sure to use the correct website address and avoid fake websites with similar name/s. Check the Shiftal logo before buying.

Coin Price

For the private sale phase 2, the Shiftal coin price has been revised to INR 8 per SFL coin.

This price is exclusive for the phase 2 sale and may be revised again in the upcoming token sales.

When?

Shiftal coin private sale phase 2 is scheduled from 15th September to 31st October.

Anyone who buys the token during this period will be eligible for the exclusive price of INR 8 per SFL.


Why participate in Shiftal Coin Private Sale Phase 2?

Shiftcal coin was created as the native cryptocurrency for the Shiftal Exchange. The primary role of the coin is to provide a secure and convenient option for users to pay the platform fee when trading on the Shiftal Exchange.

Shiftal is a global cryptocurrency exchange that provides peer-to-peer crypto trading services to users in more than 200 countries. Shiftal is also one of the first exchanges to allow purchasing of cryptocurrencies with 70+ payment options, including Shiftal coin. When using Shiftal coin to pay for their order, traders will get a discount on fees. The actual discount value and offers will be revealed once the Shiftcal coin is officially launched post the sale.

Now is the best time to buy the Shiftcal coin as the coin price is the lowest it will ever be. The first phase sale was immensely successful and we expect the same kind of response from phase 2. Do hurry and buy Shiftal coin at the special price and win up to 8% commission on your purchase.

Shiftal Exchange is excited to announce the launch of the first private sale of our native utility coin – Shiftal Coin. The phase 1 private sale is live now and you can buy the Shiftal coin at an introductory price of ₹6 per coin by the 15th of September. Here’s all you need to know about the Shiftal Coin Phase 1 Private Sale, including how to participate.

What is Shiftal Exchange?


Shiftal is a next-gen peer-to-peer cryptocurrency exchange where you can buy top cryptocurrencies like Bitcoin and ETH directly from other users using 70+ payment options and with the trust and security of escrow payments.

Shiftal Exchange has launched Shiftal Coin – a powerful utility coin backed by and to be used on the Shiftal platform. You can buy Shiftal coin now by participating in the IEO sale or later when the coin is listed on the exchange.

Invest in Shiftal Private Sale (Phase 1) Before It’s Gone
Shiftal coin IEO sale will be held in multiple phases divided into two parts: Private sale & Public sale.

15% of all Shiftal coins will be available for purchase during the Shiftal Private sale, which will be held in the third quarter of 2021. Shiftal coin private sale will be held in multiple phases. The phase 1 sale, which is live now, will end on 15th September.

Shiftal Private Sale Phase 1

Last date – September 15, 2021

Shiftal coin price – ₹6 per coin

Accepted currencies – BTC, ETH, USDT

The Shiftal coin price will be increased with every sale. Only for the first phase of the private sale, the coin price is fixed at ₹6 per Shiftal coin to give investors a chance to get early-bird benefits.

The Shiftal Utility Coin gives investors/holders access to all the current and future services of the Shiftal P2P exchange.

Join Shiftalcoin Private Sale Phase 1


How to Buy Shiftal Coin in Private Sale?

Access to the Shiftal Coin private sale is available on a first-come-first-serve basis. Since the number of coins on sale is limited, the first comers will get the best chance to buy the coin at the lowest price.

To participate in the Shiftal private sale, an investor must register on the website shiftalcoin.com. If you have a referral code, enter it when signing up to earn up to 16% commission on your trades.

Make sure to verify your email by clicking on the link sent to your email address. Without it, you won’t be able to participate in the token sale.

Now, log in to the Shiftalcoin.com website using your username and password. Well done. Now, you are ready to buy the most innovative coin of the year.

Click on the ‘Buy coins now’ button to proceed.

On the next page, select the currency you want to use for payment. We accept Bitcoin, ETH, and USDT.

Enter the number of Shiftal (SFL) coins you wish to buy. The next column will show the equivalent amount in your selected currency. This is the amount you need to pay.

Send the payment to the address provided on the page. Make sure to cross-check the address and use the correct address to send the payment.

Enter the sender’s wallet address in the text field and then enter the reference/transaction id of your payment and the payment proof/screenshot.

Click on Submit to proceed.

The team will verify your payment and will send you a confirmation shortly. Once the payment is verified, you’ll receive Shiftal Coins instantly in your wallet.

Go to Payment >> Wallet to check your SFL coin balance.

Earlier, I have been using Binance and a couple of other centralized exchanges. They are good, and the crypto buying-selling process is easy. But, most of these exchanges lack the flexibility of paying with fiat currencies and other options like digital wallets and UPI, etc. Through a friend, I came to know about the Shiftal Bitcoin exchange, which is a P2P exchange that allows me to buy & sell directly with other users and make/receive payments directly in a bank account, wallet or any other preferred payment method. My last BTC transaction on Shiftal was using Amazon gift cards. So, it’s cool that way. Also, transactions are more secure and private.

When looking to buy bitcoin from an exchange, one of the major concerns for many users is the tedious and time-consuming KYC verification process. Shiftal solves this problem by employing an automated and fast KYC process.

What is KYC? Why is it needed for bitcoin trading on exchanges?

KYC (Know Your Customer) is a customer verification process mandated for businesses, mainly in the digital space, in many countries that require an online business or portal to verify its customers based on their government identity and documents before allowing them to use its services.

The KYC process usually includes verification of the person’s ID card, address, and/or face (biometric) using specific government-approved documents. KYC is particularly crucial for financial institutions like banks and other organisations that offer financial services such as trading, digital wallets, e-commerce and others.

Why you should not trade with exchanges that don’t require KYC

In the view that the KYC process can be lengthy and time-consuming, some exchanges may allow their users to proceed without KYC, i.e. perform financial transactions without having to verify themselves. While this may seem like an easy & convenient way to buy Bitcoins, it’s not at all secure. These exchanges are in a way working without authority and your data with them will always be at high risk.

Exchanges that allow their users to trade without KYC will have zero records of the person’s identity and will therefore be unable to provide support in case of a dispute. Suppose that one of the exchange users commits fraud, the exchange will have no details of him/her to take appropriate action to ensure the security of the victim.

How does Automated KYC on Shiftal Exchange work? How is it better than regular KYC?

Shiftal is a next-gen P2P crypto exchange that provides over 70 payment options for users to easily buy and sell Bitcoins. It allows users to connect and trade directly with each other.

Same as every authentic Bitcoin exchange out there, Shiftal also employs a highly secure KYC system. However, the KYC mechanism used by Shiftal is automated and very advanced compared to regular KYC. Here’s how Shiftal is the best bitcoin exchange with easy (automated) KYC verification.

So, the Shiftal Exchange uses a fast and highly secure automated KYC system provided by YOTI.

YOTI is a leading, UK-based identity platform that makes it easy & safe for individuals to share their personal details/documents with businesses in order to verify their identity or KYC. At the same time, the system allows businesses like Shiftal to easily & securely verify the identities of their users without putting their privacy at risk in any way.

The best thing is that the entire KYC verification process on Shiftal is automated. The user only has to grant permission to access his/her YOTI profile and the system will automatically verify the KYC, which takes only a few seconds.

The top benefits of Automated KYC verification on Shiftal over regular KYC include:

High security

The user KYC verification on Shiftal is highly secure. The app allows access to specific documents and only for the purpose that the user has granted permission for. Throughout the verification process, the documents remain safe within the user YOTI app/account.

Fast verification

The KYC verification process through the YOTI app is very fast, maybe the fastest out there. It only takes about a few seconds to verify the person’s identity, which makes sure you are ready to buy bitcoin instantly after signing up.

Easy & automated process

The entire KYC process on Shiftal is automated. The user doesn’t have to manually submit any documents or IDs or go through the lengthy video KYC process.

So, what are you still waiting for? Register on Shiftal today and start buying Bitcoins with easy & automated KYC.

Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX. It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins. This statement is not entirely exclusive though; most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as U.S. Dollars for cryptocurrencies. An example of such an exchange is Kraken, which currently accepts funds in the form of USD, JPY, CAD, and GBP, and supports trades with Monero, Ripple, and Litecoin as well as Bitcoin and Ethereum.

Cryptocurrency Exchanges and Cryptocurrency Wallets
If the whole section above was confusing, do not worry–we will explain the whole process of buying, selling and trading cryptocurrencies using both exchanges and cryptocurrency wallets. If you wish to invest your fiat currency (such as US Dollars) into a cryptoasset, you will need to set up an online account. Currently, Coinbase is the most popular and among the safest methods one can use. On Coinbase, you can buy and hold the most popular, and useful, cryptocurrencies, chiefly Bitcoin and Ethereum. We will get to why these two are so useful later on. After you have set up this wallet, you can use your wallet’s address to receive coins and the ability to send coins to other wallets.

What if you don’t only want to invest in Bitcoin or Ethereum, but instead want to invest in some altcoins like Ripple and Stellar? If your wallet does not allow you to buy and sell these cryptocurrencies, then you would need to set up a cryptocurrency exchange account on a platform such as Binance. Once you have set up an account on a cryptocurrency exchange, you will need to send coins to this account to start trading. From your crypto wallet, you will need to send Bitcoin or Ethereum (or whatever medium of exchange the crypto exchange uses) to the corresponding cryptocurrency address on your trading account. Now that you have coins to trade, you can exchange them for coins such as Monero and Ethos. However, if you wish to cash out on these coins for a profit, the process is quite tricky. This is because there are no addresses or wallets publicly available yet that provide both storage and a fiat gateway (the process of exchanging international fiat currencies to cryptocurrencies) for most altcoins. Therefore, you will need to trade these altcoins back for basic coins such as Ethereum. Then you will send these basic coins from your cryptocurrency exchange account to the address on your wallet (we told you it would be useful!), where you can then cash out on these coins.

Processes like these may have extra layers of legal complications. Therefore, we remind our readers to please read and educate themselves on the cryptocurrency laws in their local jurisdiction before trading cryptocurrencies. Some countries, such as the United States of America, treat cryptocurrencies as property subject to capital gains taxes. Others make the buying and selling of such cryptocurrencies entirely illegal.

Learn more: What are Cryptocurrency Exchanges?

Yes, a great explaination of crypto exchanges and i would like to to add some value to it by further describing the difference between centralized and decentralized crypto exchanges.

Before knowing what is a P2P crypto exchange, let’s understand the exchange term. An exchange is a platform that allows you to trade one asset or currency for another. In the crypto space, when you want to trade one cryptocurrency for another, you’ll need to use a cryptocurrency exchange.

Most of the traditional crypto exchanges are centralized, i.e. all the trading activities on the platforms are managed by trusted centralized parties, owners, managers, etc. Being centralized, these exchanges however are prone to human errors as well as network failures, hacking, etc., which is why there came the need for a P2P exchange.

P2P exchanges like Shiftal are gaining immense popularity in the crypto space because of their secure, convenient and error-free trading mechanism.

If you are wondering what a P2P exchange is, how it works or how it is better than regular crypto exchanges, you’ll find all the answers here.

What is a P2P Crypto Exchange?

A P2P exchange, or peer-to-peer exchange, allows the buyer and the seller to connect and trade directly with each other without an intermediary. Naturally, P2P crypto trading is more secure, transparent & affordable, as the need for a trusted third-party to verify & process the transaction is eliminated.

Shiftal, for instance, is a state-of-the-art P2P crypto exchange that besides allowing users to trade privately has many advanced features like a robust support system, escrow security, automated KYC, 70+ payment methods, among others.

By allowing users to trade directly and eliminating the need for third-party to store funds or verify transactions, P2P exchanges live up to the standards of blockchain ideology of a middleman-free financial system.

How a P2P Exchange Works

A peer-to-peer crypto exchange works more or less like a regular exchange, allowing users to buy/sell cryptocurrencies and digital assets. However, instead of using third-party software or services for verifying user transactions, a P2P exchange will use a special blockchain software called a Smart Contract to automatically match buy-sell orders on the exchange.

Let’s try to understand this with the example of Shiftal.

So, the Shiftal exchange uses smart contracts to help buyers and sellers find each other. Upon finding a matching buy-sell order, the software will connect the buyer and seller, allowing them to trade directly with each other under the security of the Shiftal Escrow. If both parties agree to finalize the trade, the buyer can send payment directly to the seller on their preferred option. The escrow will hold the coins being traded until it verifies that the seller has received the payment, after which the coins will be automatically credited to the buyer’s wallet. This further removes the probability of fraudulent transactions on the platform.

In case if there is a dispute during a transaction, the users can seek help from Shiftal’s 24×7 support team. The exchange provides multiple ways for traders to connect with the support team. For the instant resolution of disputes during a transaction, traders can use the Callback option to get an instant call from a support executive. Alternatively, they can use the chat support option or send an email to the team for a quick resolution of their trading issues.

Contrary to popular beliefs, P2P crypto exchanges are not limited to cryptocurrencies but support a wide range of payment methods, same as or even more than regular exchanges. The Shiftal exchange, for example, allows as many as 70+ payment methods for trading on its platform.

Unlike regular exchanges, P2P crypto exchanges are not vulnerable to frauds and cyberattacks and also reduce the trade fee, charged in the form of transaction fees, platform charges, etc.

Most of the P2P exchanges in the market support trading of top cryptocurrencies like BTC and ETH. You can choose an exchange based on the type of coins, payment methods, support, etc.

Advantages of P2P Exchange over a Regular Crypto Exchange

If you need to know more reasons why P2P exchange is a better choice over a regular crypto exchange for Bitcoin trading, here are some common benefits of using one.

1. Increased privacy

When trading via a P2P bitcoin exchange, traders are usually not required to share their personal details, payment details, etc. via a third-party. That means you can trade in a completely private manner and directly with other users. This reduces the risk of data breach or loss through an intermediary.

2. Improved security

Unlike regular exchanges, a P2P ETH exchange doesn’t store your data, transaction details, etc. on a centralized wallet or platform. Also, users are not required to hand over their coins or money to a third party in order to perform a trade. On the Shiftal exchange, you pay directly to the seller, which ensures both your data and money are completely safe.

Other exclusive benefits of the Shiftal P2P exchange for Bitcoin and ETH include:

3. Secured By Escrow

The Shiftal platform uses Escrow to ensure the security of user funds and coins. It temporarily holds the coins (during a trade) and transfers only after receiving the payment verification, which reduces the probability of fraud.

4. 70+ Payment Methods

With over 70+ payment options including popular ones like bank transfer, NEFT, IMPS, UPI, Paytm wallet, Google Pay, etc., users can easily & quickly buy/sell Bitcoin and ETH on Shiftal in minutes.

5. User-friendly Interface

The Shiftal website features a user-friendly and interactive design, which makes it easy for users to trade their favorite coins, post a new ad or trade with other users with complete security. Also, the Shiftal mobile apps for Android & iOS will be launched soon.

6. European Regulated Exchange

Shiftal is one of the first P2P bitcoin exchanges that has been approved & regulated by European authorities for trading in 220 countries.
So, what are you waiting for? Visit the website www.shiftal.com to start trading Bitcoin and ETH securely.

Please read our disclaimer on investment related topics before proceeding.

Cryptocurrency, especially Bitcoin, remains as a hot topic since 2013. In January 2013, 1 Bitcoin was worth around $20 and in early 2021, the value of 1 Bitcoin has reached $50,000. Bitcoin and other cryptocurrencies, as speculative investments, have generated numerous billionaires as well as those that lost their investments by untimely selling their coins or by forgetting the password to their digital wallets.

We have previously covered topics such as: applications of the blockchain technology, blockchain consultancy, and we have also identified some popular cryptocurrencies (Pi Network, Bee Network, Electroneum) that seem to be like Bitcoin but are less likely to benefit others except their founders. Now we cover how to invest in cryptocurrencies:

What is a cryptocurrency?


Why do cryptocurrencies rise in value?


How to buy Cryptocurrencies?


What to consider before choosing your Crypto Exchange?

1. Security


2. Volume


3. Verification (KYC) Process


4. Number of Coins and Number of Fiats


5. Commissions


What are the best cryptocurrency exchange platforms?


What is a cryptocurrency?

A cryptocurrency is a virtual currency that is protected by cryptography, which prevents it to be double-spent and counterfeited. Many cryptocurrencies are decentralized networks based on the blockchain technology—which relies on distributed ledgers enforced by a diverse network of computers. This ensures that transactions made with cryptocurrencies are anonymous and untraceable, which enables both parties involved in the transaction to not share their sensitive data with third parties such as banks or other transaction providers. Security put aside, using cryptocurrencies have several other benefits such as:

Elimination of Banking Fees


Low Transaction Fees for International Payments


Being accessible from anywhere and from any device that have an internet connection

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More info: https://research.aimultiple.com/cryptoexchange/

With the increasing demand for cryptocurrencies, the exchanges are also gaining focus p2p exchanges like shiftal are hugely popular as it is easy to use and lighting fast crypto exchange. Both BTC and ETH can be traded with no issue whatsoever.