[ANN] ShapeShift.io Adds Counterparty (XCP) to Instant Atlcoin Exchange

XCP can now be exchanged on ShapeShift.io with Bitcoin and 25+ other tokens. No account needed.


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Great news! ShapeShift is a vending machine. It is more convenient than an ordinary exchange. No register or login is needed.

The downside is the spread. At the moment, one XCP costs 0.00476 to buy and you can sell an XCP at 0.00429. That’s an 11.0% spread.

At Poloniex the spread is 0.00461 - 0.00475.

My conclusion is that ShapeShift is preferred if you want convenience or just need a tiny amount of XCP (for a small amount the higher spread doesn’t matter much). Since some XCP users just need a small amount to pay fees, ShapeShift will for some be the preferred choice.

Shapeshift answered over at Reddit:

We are glad you and others in the community are excited about it :slight_smile:

A lot of the difference you are seeing in the spread is because ShapeShift has to account for depth (as our singular instant rate for a pair doesn’t allow for any slippage all the way up to our deposit limit). So purely comparing our buy/sell vs poloniex at the top end of the depth chart doesn’t paint a true picture, as you will lose a lot of ground on each side as you add volume and the prices incurs slippage - for instance on poloniex right now the spread is relatively stable on the sell side for XCP, put there is a lot of slippage on the buy side, buying even 1 BTC worth will dramatically reduce the price you actually get.

This does mean that you are getting a better rate closer to the deposit limit on less liquid coins then you are on small exchanges (on more liquid coins may not make a difference). In the near future we plan to release a parallel variable rate system which will help bring rates down for those who wish to trade a specific amount that may be well low of our current deposit limits.

Thanks for clarifying. I see that e.g. the BTC/LTC spread is indeed a lot tighter, which makes sense since this market is a lot more liquid.

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shapeshift.io offers a great service. Nice to see XCP on this instantexchange

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