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ShapeShift Acquires Bitfract that Quickly Swaps Bitcoin into Other Cryptos



ShapeShift AG is a Swiss-based crypto exchange that has revealed through a blog post that the team has acquired a tool in order to make the trading of cryptocurrencies more easily and smoothly.

The company has announced its move to acquire Bitfract after developing the startup tool. Bitfract is basically a software firm whose main intention is to process the transaction of bitcoin in more easy and simplified steps. Moreover, it has the tendency to change the bitcoin into dozens of digital assets in one transaction with the help of the firm’s API.

The CEO of ShapeShift, Erik Voorhees stated that the whole team of Bitfract has impressed ShapeShift with their outstanding work. Their contribution in developing a tool that ShapeShift was hoping to develop itself was tremendous and worth appreciating.

He further stated with the help of ShapeShift API the experts of Bitfract has finally established the tool that ShapeShift was planning to develop. The strategies, execution of the expert team was so exceptional and impressive that ShapeShift eagerly wanted Bitfract to be the part of their technology team.

Well, this newly constructed tool will definitely make the consumer to save time as well as cost. It aims at granting a variety of portfolio version of digital assets that will help to make multiple transactions easily at one go.

The tool access works by enabling the customers to select the percentage out of their total balance in a particular asset after that by adding the receiver or sender wallet addresses and finally send the selected bitcoin in a single transaction. This intends at converting bitcoin into different cryptocurrencies with the help of regulating the BTC on the firm’s destination.

The CEO of Bitfract, Willy Ogorzaly confirmed that the team has faith in a decentralized application for the future generation. With this, the customers will have the potential to look into their digital asset and our experts are working hard along with ShapeShift to make this dream comes true.

The partnership with Bitfract will help ShapeShift to explore its reach and the tool will act as a base in order to expand its efficiency and working.

The firm thinks that Bitfract has numbers of unique techniques that will surely help our firm to develop better in near future, especially this ‘multiple output transactions’ it will definitely be introduced in our platform very soon.

The main purpose of doing so is to solve the issue with the open API that is creating chaos and hindrances in the working of the industry.

Apart from this, the industry acquired a hardware wallet developer ‘Keepkey’ that enabled the individual to trade with their digital assets without revealing the secret keys online.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.