[CoinPayments.net] ShapeShift Notice

[SFR10]

Earlier this morning, I received the following "email":

You are receiving this email because you have a conversion option enabled on one or more of your accepted coins on the Coin Settings page. Note that due to changes at ShapeShift in order to continue having your coins converted you must link your ShapeShift account by October 30th.

You can find the option to link it at the top of the Coin Settings page or there is more information and a step-by-step tutorial on our blog at https://blog.coinpayments.net/announcements/shapeshift-kyc-requirement

My concern:
- Since there's a deadline, will I lose having that option (ShapeShift's conversions) permanently (if I don't link my ShapeShift account before the deadline)?

• The main issue is my current location. Shapeshift's services are no longer an option for me but I'll be relocating in few months and was planning to do the KYC after the relocation.

I prefer to not look for other options + I do know that they have other options [within their platform] for conversions:

Please note that we also provide coin conversion services through Changelly and Kyber Network where KYC verification is NOT currently required. However, coin availability, pricing and liquidity may become an issue depending on which coin you are trying to convert. If no coin conversion pair is available through these two platforms, then the only provider for that coin conversion option will be ShapeShift and you will require a verified ShapeShift account, otherwise you will receive the following error message: “You have to link your ShapeShift account before you can convert this pair.”

- Changelly: I no longer trust them (a lot of complaints/accusations against them) + for large conversions, they have KYC requirements (AFAIK).
- Kyber Network: Based on their coin availability, it's not an option for me.

[carlfebz2]

My concern:
- Since there's a deadline, will I lose having that option (ShapeShift's conversions) permanently (if I don't link my ShapeShift account before the deadline)?

Most likely to happen on where you would really lose up that option if you don't comply such KYC but it would really be just temporary I guess.

• The main issue is my current location. Shapeshift's services are no longer an option for me but I'll be relocating in few months and was planning to do the KYC after the relocation.

Since you don't trust up the options below then your only options is either to do KYC earlier or would decide to proceed after you relocate.Its your choice.

- Changelly:
- Kyber Network:

I already expected for services that do have Shapeshift option would come to this point.

[1Referee]

My concern:
- Since there's a deadline, will I lose having that option (ShapeShift's conversions) permanently (if I don't link my ShapeShift account before the deadline)?

Yes. It's impossible to work around it unfortunately.

Considering that you aren't looking for alternative services, is it an option to have a trusted forum member with a verified account do the conversions for you? I know it requires trust from both sides, but I'm sure there is something to work out, especially with how you have been a contributing member of this forum for a long while now.

I already expected for services that do have Shapeshift option would come to this point.

I wonder what will happen with services using the ShapeShift API. Technically speaking, the services using their API have an account already, and for that reason should continue to offer people conversions without verification as long as the amounts are below the legal norm.

[TryNinja]

I wonder what will happen with services using the ShapeShift API. Technically speaking, the services using their API have an account already, and for that reason should continue to offer people conversions without verification as long as the amounts are below the legal norm.

You will need to authenticate with an account to use it. That's why CoinPayments and every other third-party wallet using Shapeshift exchange services will require you to authenticate yourself before being able to use the exchange services.

Sad news: in the future (when KYC becomes mandatory for every transaction), you will have to authenticate yourself with your Shapeshift membership account to use it (even with third party wallets such as Coinomi and Exodus).

If you are using a wallet that integrates with Shapeshift, you will need to authenticate once through the wallet to enjoy the benefits of your membership and to then use the http://shapeshift.io service,” explained the company.

https://news.bitcoin.com/shapeshift-membership-user-information/

From Shapeshift API: "Authorization is a new field required for all ShapeShift API endpoints now that Membership is implemented."
https://docs.shapeshift.io/#ecf0c171-e2b3-4558-9b6e-0da4ff25897c

[SFR10]

Most likely to happen on where you would really lose up that option if you don't comply such KYC but it would really be just temporary I guess.

I'm fine with temporarily being limited from using that option but I'm afraid, this might be a permanent one.

Considering that you aren't looking for alternative services, is it an option to have a trusted forum member with a verified account do the conversions for you?

Unfortunately, it's not (it's against "TOS" of both CoinPayments and ShapShift).