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Cryptocurrency Trading

Shiftal Partners with YOTI to Enable Digital KYC Verification on its Exchange

Shiftal, a globally-renowned, fast, and safe P2P cryptocurrency trading exchange, has partnered with Yoti, a London-based digital ID and credential management company, to digitally automate and accelerate the KYC process on the Shiftal’s exchange.

Yoti’s technology uses artificial intelligence to verify users’ identities swiftly and securely while preventing fraud, enabling Shiftal to onboard users in less than 5 minutes while meeting KYC regulations.

To ensure users’ safety and compliance, Shiftal places significant importance on KYC verification. With complete automation of the KYC process, the company can now onboard customers faster without compromising on security. In India, a normal KYC onboarding procedure typically takes 5 days, whereas Shiftal has been maintaining a 24-hour timeline for its KYC verification. Through Yoti, the company will further curtail its current KYC timeline from 24 hours to just 5 minutes.

“Our users are at the core of every decision we make at Shiftal and streamlined user experience is very important to us. By integrating Yoti’s technology, we can not only simplify the KYC experience for users but also give our users peace of mind by providing the highest level of fraud protection. Yoti’s cutting-edge and next-generation technology will enhance Shiftal’s compliance, safety, security, and performance, as it has with so many other companies in the past.”, said Rishabh, Founder and CEO of Shiftal.

Adding to that, Abishek, Co-founder of Shiftal, said, “Cryptocurrency traders or investors would no longer have to compromise on user experience, privacy, conversions, or security. We aim to make Shiftal the safest and fastest platform to buy and sell Bitcoin & Ethereum globally.”

The use of YOTI for KYC verification on the Shiftal exchange will resolve the inefficiencies connected with the conventional KYC process, enabling fast, cost-efficient, and improved KYC verification. Users can be onboarded quickly and easily using the Yoti app and Yoti Doc Scan, using which customers can scan documents directly into the Shiftal experience. By using the app, users can instantly share their verified identity attributes at the click button or scan a QR code- completing ID+V in seconds. This dwindles those long frustrated KYC checks someone has faced in the traditional KYC process. Once the users have created their YOTI Digital ID, they can use that numerous times in the future, across any industry, to prove their identity in an easy, simple, and secure way. 

Shiftal can now offer a quick, safe, and compliant onboarding to all its new customers, thus accelerating their journey to owning their first crypto. Through this partnership, the company also aims to make financial services more accessible to the Indian market, while increasing security and reducing the cost and time required in due-diligence.

About Shiftal

Shiftal is a leading P2P cryptocurrency trading platform offering its promising services in 220 countries. The platform offers over 70 payment options to buy and sell BTC or ETH. The exchange offers a bidding system feature for all users, along with a callback request feature to assist platform users with any escalated disputes for a quick resolution. The company plans to expand its services and soon it will introduce a centralized spot trading exchange with a margin trading platform, with an aim to offer a comprehensive crypto exchange.

For further information, please contact:

Email: info@shiftal.com

https://www.shiftal.com/

About YOTI

Yoti is a global digital identity-checking platform that allows organizations to verify the identities of people. Yoti’s products include document e-signing, identity verification, biometric authentication, age verification, and access management.

Yoti accepts government-approved identity documents from over 200 countries that are verified using leading technology and trained security personnel.

For more information, visit www.yoti.com

Categories
Cryptocurrency Trading

Compelling Reasons to Trade BTC/ETH with Credit Card on a Shiftal

Cryptocurrency investments with profit-making opportunities have encouraged crypto enthusiasts across the globe to put their money into these digital assets. World’s leading P2P cryptocurrency exchange, Shiftal not only offers multiple currencies to trade but also offers several ways to trade these currencies.

Using a credit card to buy cryptocurrency is gaining fast traction and is becoming a widely adopted solution. It is perfect for both first-time buyers and seasoned crypto investors, being a hassle-free and easy option.

Shiftal enables its users to buy Bitcoin with credit card, so you can leverage the ease and speed of transactions provided by electronic cards. The complete process is secure and fast to deliver a seamless trading experience to users.

Easy Steps to Get Started

Step-1 Sign-up for free on Shiftal
Create your user account on Shiftal by providing the required details. Log in to your account upon successful verification of your account.

Step 2- Choose your payment mode

Head over to the “Home Page” on the Shiftal toolbar and choose the “Buy with Credit Card” option to proceed further.

Step 3- Select a trader OR Create your own offer.

From an existing list, select a trader who is having a good reputation score and a high volume of trades to buy your Bitcoin. The Offline/Online indicator shows the availability status of the trader.
OR

Head over to the “Post Trade” option and create your own advertisement with the amount you desire. It will be soon filled by others traders who agree upon trading with you

Step 4- Pay your seller

Once you press the “Buy” button, you will see the complete information about your choices- including the terms of trade. Read them carefully before proceeding.

To start the trade, create your buying order by entering the amount of BTC you want to buy. Enter a message for the seller and click on the “Send Trade Request” button. Make sure that you are ready to pay while clicking the button.

Step 4- Get Bitcoin Instantly

After you, the seller, confirms the receipt of payment, our escrow system will release the Bitcoins instantly to your Shiftal Bitcoin wallet address.

Why Choose Shiftal to Buy Bitcoin Using Credit Card?

Shiftal ensures the following while navigating the user’s Bitcoin buying journey with a credit card.

  • Security

Our cryptocurrency exchange platform is reinforced with multiple layers of protection to mitigate the risk and drive the safest transactions possible.

  • Honesty

Shiftal holds the highest standards of integrity and orchestrates the entire process with complete honesty. The platform automatically calculates the trading fees against the amount or volume of Bitcoin.

  • Fast transactions

Shiftal is developed to process multiple transactions in minutes. Place your multiple buy/sell orders and/or advertisements and get your desired cryptocurrency in your wallet as soon as your order is fulfilled.

  • Support

A strong customer support team provides dedicated assistance to navigate you through the process to buy Bitcoin with credit card. Shiftal believes in building and maintaining long-term relationships with our customers and creating a robust crypto community.

To enjoy these benefits and embrace a convenient solution to trade Bitcoin or Ethereum with credit card from a reliable and secure cryptocurrency exchange platform, sign-up on Shiftal. We steer your journey ensuring security, speed, and ease while putting you in complete control of your transactions. 

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Cryptocurrency Trading

Reasons to Buy Crypto with Fiat Currency on a P2P Exchange in 2020

With the existence of various cryptocurrencies such as Bitcoin and Altcoins, there is a huge rise in the number of crypto traders. This has, in turn, resulted in a large number of trading platforms. But the question is, can these platforms resolve the issues with security? Can investors perform instant trading? Is user anonymity a concern? Can these platforms allow people to buy crypto with fiat currency easily?

Yes, there are plenty of questions revolving around! Here comes the solution for these queries in the name of a Peer-to-Peer (P2P) Crypto Trading Exchange.

Wondering how it could resolve? Continue reading to know more!

What is a P2P crypto trading exchange?

As the name itself implies, a P2P exchange is a platform that connects buyers and sellers directly and allows them to conduct global peer-to-peer transactions. The P2P exchange is a completely decentralized form of exchange. This means that the P2P platform does not need any intermediaries to control the exchange, and it entirely runs based on the software. Since there is no involvement of any third party, users can directly trade between themselves more efficiently, securely, and seamlessly.

A P2P trading platform allows users to either create an advertisement to buy or sell their coveted cryptocurrency or choose an existing one, within a certain price range and in a predefined location.

People prefer P2P crypto trading exchanges like Shiftal over centralized exchanges as the former offers faster & secure trading, various payment options (such as a user can buy bitcoin with cash, PayPal, credit card, and bank transfer), automated & hassle-free KYC process, and user-controlled transactions.

The Working Process:

The users get sole ownership of their funds on a P2P crypto trading exchange and no approval is required from any admin to commence a transaction. To paint a clearer picture for you, let’s look at a P2P exchange trading process, step by step:

•           The first step is, the user has to register and create an account with the exchange.

•           Once a user account is created, the exchange automatically & swiftly executes the KYC verification process.

•           After successful KYC verification, the user places the buy/sell advertisement with appropriate details required.

•           The trading exchange platform creates a wallet address for the user

•           The order book matches the buyer/seller with a suitable matching request.

•           The order is confirmed by both the involved parties

•           The smart contract holds the assets until the payment is made by the buyer.

•           Once the buyer makes a payment, and the seller confirms receiving it, the cryptocurrency is released from the escrow system.

•           The asset is then transferred to the buyer’s wallet and stored in it.

What are the benefits of P2P crypto trading?

There are numerous benefits associated with P2P crypto trading on Shiftal exchange.

1) A Global Marketplace

Shiftal exchange offers you the flexibility to trade with local, domestic, or even international traders. Today, you can even buy bitcoin in Venezuela from a friend who lives in the USA or the UK, while tomorrow you can sell those BTC in London. The possibilities are endless.

2) Automated and Fastest KYC

Shiftal has partnered with digital ID and credential management company, Yoti, for identity verification. This partnership eliminates inefficiencies associated with the conventional KYC process, forging the path for accelerated, cost-efficient, and augmented KYC verification.

3) Increased Security

Peer to Peer Crypto trading platform does not hold the funds of their users. They connect the traders and make the deals directly. Since no central authority is being involved, it makes the trading process safer and secure.

4) A larger selection of payment options

Unlike most P2P exchanges that only offer crypto-to-crypto payment method, Shiftal exchange offers 70+ payment options including cash, PayPal, credit/debit card, bank transfer, crypto-to-crypto. You just have to select the most suitable payment option to buy/sell BTC or ETH instantly and securely.

5) Faster Trades

The availability of multiple payment options fastens the transaction process. By having the choice to choose your payment method, you are able to conduct faster trades with better experience.

The future of P2P trading

P2P platforms are more trustworthy as central dependency is almost eliminated. When a person thinks of trading cryptocurrency, he/she imagines complex charts/graphs, crypto jargon, and conventional exchanges. Yet many are still not aware of an easier way to buy/sell cryptocurrency that doesn’t involve any of these complicated features and is used by millions of people around the world, every day – P2P crypto exchange.

With stringent regulations, banking issues, and high overheads of operating exchanges, P2P could take up a lot of slack in the system and pave the way for the next wave of adoption in this space.

Categories
Cryptocurrency Trading

How to Buy Bitcoin and Altcoins with Fiat Currency: A Beginner’s Guide

So you have caught the crypto wave. You know the basics of blockchain and cryptocurrency. But what’s next?

You not only need to decide which cryptocurrency to invest in, but also find the perfect place to buy BTC & ETH instantly and safely.

There are so many cryptocurrency exchanges out there, thereby choosing the best one among them is quite a daunting task. Majorly, there are three types of cryptocurrency exchanges, such as Centralized, Decentralized, and Peer-to-peer crypto trading exchange. In this guide, we will comprehend the P2P crypto trading exchange and how it is revolutionizing the trading process. Let’s take a look.

How P2P Crypto Trading is advantageous for crypto traders?

A P2P crypto trading platform operates on a decentralized mechanism and allows buyers/sellers to trade directly without the involvement of any intermediaries. Globally, the P2P crypto trading market is growing rapidly and the number of trades is increasing day-by-day. According to a recent survey, the number of trades globally has grown enormously to 65% within a year and 72% of all BTC trading happened in the top five countries namely, USD, Russia, UK, Venezuela, and China.

Trading Mechanism of a P2P Exchange

To understand how trades are performed on a P2P exchange, let’s sum up how a ‘regular’ cryptocurrency exchange works. There is a buyer who wants to buy the desired cryptocurrency say “BTC” and there is a seller who wants to sell BTC. The buyer places a buy order and the seller places a sell order. Once the order is matched with the help of a robust matching engine, the transactions are executed. Generally, the entire matching process takes too long- from 10 minutes to an hour. Fiat money transfer takes even longer. However, it is not the case with the P2P crypto trading exchange.

A P2P exchange enables direct trades between buyers and sellers, without the involvement of any third-party or intermediary, thus driving quick transactions. However, the intermediaries come into action in case of any dispute between buyer and seller.

A P2P exchange conducts transactions in an integrated manner and yet provides anonymity to its users, which helps them trade seamlessly and securely.
Let’s look at how to buy and sell cryptocurrency on a peer-to-peer exchange (Shiftal) with step-by-step instructions:

  1. Create and verify your account
  2. Choose your location and the desired payment option
  3. Create a new trading advertisement or choose an existing one
  4. Complete the trade

Moreover, you can place an order for BTC and point out that you can pay only with fiat currency. Sometimes, people can find sellers on a nearby street, so they can make a deal on the spot.

Benefits of P2P Trading

P2P trading exchange offers a secure and flexible trading platform to crypto traders. The platform offers lots of benefits, including;
1) Cost-efficient transactions
2) Powerful trading mechanism
3) Global trading
4) Robust fraud prevention mechanism
5) No transaction ownership

To Sum Up

Buying cryptocurrency is not a tedious task anymore, and after doing it once, you will get an idea of some of the concepts involved in the crypto trading process. It’s good to gain knowledge by reading blogs or articles on how to send or receive BTC, ETH, or any other digital coin from one wallet to another.

Do you think buying or selling cryptocurrency is easy? How would you recommend people to buy BTC or ETH instantly? Let us know what you think, we would love to hear from you.

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