Bitpanda Opens Direct Swap Service, Following Shapeshift, Changelly

[Leonardo]

Bitpanda, the European fiat-to-crypto service, will offer a direct swap between crypto assets, similar to Shapeshift or Changelly. In addition to the opportunity to send and receive coins between users on the platform, Bitpanda offers more agile access to its widened portfolio of coins and tokens.

After the launch of the swap service, Bitpanda moved on to add the NEO blockchain to its selection of assets:

We’re happy to announce @NEO_Blockchain is now available to trade on Bitpanda! Start buying and selling $NEO by heading to https://t.co/5Z6N4AsOPK #bitpanda pic.twitter.com/Tui6qiYpPQ

— Bitpanda (@bitpanda) November 20, 2018

Unfortunately, the addition of NEO arrives after a deep market crash that lessened the asset’s appeal as one of the more promising Chinese networks. NEO fell to $9.10, a far cry from the levels near $200 during peak market times in January.

The chief difference is that the swap service would be available for Bitpanda users who store funds in the internal wallet. Services like Shapeshift receive and send coins through a user’s designated wallet and addresses. Hence, the Bitpanda service will not be entirely anonymous as it requires an email.

There is also no limit on the transaction size of the swaps, a curious offer given the general limitations even on moving between coins. Bitpanda has DASH and ZCash (ZEC) as anonymous options, in theory allowing users to hide the tracks of their crypto ownership. However, verified account owners are not anonymous and require full KYC for cashing out larger sums.

Recently, Bitpanda made its decision on the Bitcoin Cash (BCH) hard fork and will not support, for now, the BCHSV fork. After most exchanges have granted the BCH ticker to the BCHABC version, which also has the longer blockchain, the service will reopen the Bitcoin Cash wallet.

“Please note that Bitcoin Cash on Bitpanda represents the ABC client and we are not accepting cross chain deposits. We only credit Bitcoin Cash (ABC) coins sent to Bitpanda. Deposited Bitcoin Cash (SV) coins will be lost,” explained the Bitpanda team in a blog.

Bitpanda has expanded to some of the hottest blockchains. However, for some of the assets, buying and selling is available only from the internal wallet, and withdrawals are still not available. Bitpanda’s native token, Pantos (PAN), is also not widely distributed on the open market.

Source: https://cryptovest.com/news/bitpanda-opens-direct-swap-service-following-shapeshift-changelly/