Shapeshift to begin membership program, collection of personal data

04 Sep, 2018
by David Borman
Shapeshift to begin membership program, collection of personal data

Today announced that it would be, for the first time, rolling out a "membership program." This will include 5 different membership levels, and yes, the collection of your personal data.

Traditionally, Shapeshift has been known as “the exchange without accounts,” and has facilitated anonymous conversions from one crypto into another for countless users. Now, it will be rolling out a program where in exchange for creating an account and giving some personal info, you will be granted benefits such as rewards, discounts on fees, and higher transaction limits.

Initially, Shapeshift will make this program optional to users who care about such benefits. Eventually, it will be madatory to use Shapeshift at all. The company admits: "Yes, that last detail sucks."

Initial response on twitter has been, well... negative. Most users feel this undermines the entire point of Shapeshift. The company has been pretty quiet about as to exactly why they are making this decision now, which leads to rampant speculation.

Ultimately, users will have to decide if they find Shapeshift's service useful enough to overlook the loss of real anonymity. Will it be the end of the company or the beginning of a new chapter? Stay tuned to Chepicap to find out.

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