It’s always good to see existing cryptocurrency services support new currencies. In the case of ShapeShift, they have been adding quite a few coins throughout 2017. It seems this trend will carry over into 2018, as the first new currency has been added already. NEO, one of the top 15 cryptocurrencies, is now available for trading on this platform.
Supporting different currencies is the bread and butter of ShapeShift. This service allows users to convert between different currencies without creating an account. Although it can’t be used for major transactions in one go, it has a certain appeal. Especially for users who don’t want to rely on regular exchanges, such a platform can make a big difference. After all, it is convenient, has low fees, and transactions are completed very quickly. Adding NEO to the list of supported currencies makes a lot of sense.
NEO Trading is Live on ShapeShift
As a result of this move, NEO can now be traded against all other supported currencies. This will give the popular altcoin a lot of new trading markets waiting to be explored in the future. Right now, trading NEO is somewhat limited to Bitcoin and Ethereum across most platforms. With ShapeShift, about 30 different combinations are added to this list as we speak. It is always good to have more options at one’s disposal, to say the very least.
As is always the case, it remains to be seen if this will generate more interest in NEO. While it is a popular altcoin, it’s not even close to rivaling Ethereum. That seems a bit odd, considering this altcoin refers to itself as the Ethereum of China. It will be interesting to see how the future plays out for this currency. Its value has gone up steadily throughout 2017 and that trend is still in place during the first week of the new year.
ShapeShift has quickly become one of the most popular cryptocurrency conversion services in the world. Their service is easy to use and a lot of currencies are supported as we speak. The addition of NEO will be beneficial to this company as well, in the long run. For now, it remains to be seen if there is sufficient demand to warrant this addition. Only time will tell if that is effectively the case.