Shapeshift launches an altcoin portfolio wallet
Shapeshift launches a portfolio wallet
@twinner has been following portfolio ideas where you keep a fixed percentage of various amounts of bitcoin and altcoins. Because a small number of crypto-currencies have light-weight wallets, there is a problem with storing the money in a safe way. According to CEO ErikVoorhees hissoftware is a "trustless asset portfolioplatform." I have been waiting years for something like this. Strangely enough, this is done with only an Ethereum wallet. Yet your portfolio altcoins do not need to be on the Ethererum blockchain. Awesome!
This uses Ethereum to back the digital assets. You pay with Ether to get in and you get ether out to get out.
https://news.bitcoin.com/shapeshift-launches-prism-portfolio-platform/
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Shapeshift is brilliant. Can't wait to use this new platform!!
This is not trustless by definition. You have to trust ShapeShift. They are "holding" your portfolio assets for you... or are they? You can't hold bitcoin in a smart contract on ethereum. ShapeShift is just promising to pay you back when you close your fund. What if they don't have enough resources on hand? what if they go out of business? Too much risk for me. The fact that they would bill this as "trustless" shows how dishonest they are.
this is litteraly catering to laziness. build your own fund. track it with an excel spreadsheet. That's what I do. these cryptos are divisable to tiny tiny ammounts. you could create a diversified portfolio with $10