Decentralized cryptocurrency conversion platform ShapeShift has bought Texas-based startup Bitfract in a deal apparently designed to bring in-house a functionality the Swiss-based venture was itself looking to introduce.
Bitfract is a tool allowing diversification without the need to go through multiple exchanges. The platform lets users assign a certain allocation for various altcoins and specify addresses for each. Afterwards, a single Bitcoin transfer to the system will yield the appropriate amounts of Ether, XRP, or other supported coins in the desired wallets.
The benefits of such a system are several...
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