Why Do I Need to Sign in with ShapeShift Now?
ShapeShift, the exchange MyCrypto uses for its swap service, announced that users will be obligated to register for a membership, which requires basic personal information to be collected.
The change by ShapeShift was decided by three key factors: user requests to have account-related features (e.g., transaction history, email notifications), an increasing interest in tokenization, and regulatory difficulties.
ShapeShift Membership consists of five levels; level 1 is available now, and levels 2-5 will be released at a later date. Level 1 allows for a transaction limit of $10,000, while higher levels (2-5) enable benefits such as a higher transaction limit, discounts on exchange rates, and volume-based rewards in FOX. In order to achieve these higher membership levels in the future, you will be required to hold a certain amount of FOX tokens in your ShapeShift account.
You can create your ShapeShift Membership account on portal.shapeshift.io. You can also find the company’s announcement of ShapeShift Membership here, and its blog post, “How ShapeShift Is Keeping Your Data Safe,” here.
For additional information, please refer to ShapeShift's Membership and FOX FAQ.