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The leading instant cryptocurrency exchange ShapeShift is full of excitement on its recently released membership program that is supposed to become an obligation.

Considered a loyalty program, the project will allow the crypto trading platform to collect users’ personal information and offer in turn new benefits. The program is set to create a new system away from its current “exchange without accounts” model.

Via the blog post submitted online on 4 September, ShapeShift CEO Erik Voorhees pointed out that the company’s plan to make the membership program mandatory “sucks“. However, this will probably go live towards the end of 2018.

Nothing that “we would prefer if the collection of personal information was not a mandatory element,” Voorhees continued stating:

We still firmly believe that individuals, regardless of their race, religion, or nationality, deserve the right to financial privacy, just as they deserve the right to privacy in their thoughts, in their relationships, and in their communications. Such privacy is a foundational element of a civil and just society, and should be defended by all good people. We remain committed to that cause and it is best served if we are smart about our approach.”

You’ll get discounts on exchange rates

Users who register in the program will benefit from discounts on exchange rates, rewards regarding traded volumes in pair with FOX token and superior limits for transactions.

The program comes as a result of the market demands, as ShapeShift users show an “increasing interest in … tokenization” as well as the regulatory environment around the crypto space, Voorhees mentioned.

Membership is, in essence, an advanced loyalty program. It will lead over time both to better pricing and a superior user experience,” Voorhees went on concluding.

Even so, with the additional features, ShapeShift continues to be a non-custodial cryptocurrency exchange, meaning it is not responsible for keeping users’ funds.

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