Shapeshift has initiated a new service know as Bitfract that would enable the users to swap one Cryptocurrency for more cryptos in a minute without the need to conduct multiple transactions. The tool is free to sign up and use and it’s intended to save the firm’s standard commission and maintain a span of cryptocurrencies.
Investors attempting to expand their portfolios by investing in a wide range of cryptocurrencies have a reason to smile. The new service which is still in the pilot phase would give the user the ability to swap one crypto to a multiple digital currencies.
The company has become popular of late as an instant cryptocurrency exchange specialist, due to its convenient and versatile systems. The firm has already integrated wallets services such as Edge that allows users to swap between several cryptocurrencies without sending them to the centralized exchange. With Bitfract technology, the users can switch into a wide range of the virtual currencies simultaneously.
The new tool favors anyone who operates a list of the digital currencies supported by Bitfract that include the Bitcoin, Litecoin, and Ethereum from a broker such as Zaif or Coinbase. The service enables the clients to tweek their portfolio in an instant without incurring multiple commensurate charges. If successfully launched, the service would develop the Bitfract Labs to help the investors monitor a crypto’s performance and make the decision to shift to another coin in just a click.
Though the number of clients appreciating the use of Bitfract could be low at the moment, the tool unveils the incremental evolution of the cryptocurrency ecosystem. The latest technologies such as the creation of Bitfract help in further alleviating the reliance on the centralized exchanges and reduce the cost of transactions. Once it’s implemented, Bitfract would support a wide range of cryptocurrencies across the world in the near future.