Frequently Asked Questions
What are the fees?Currently we do not add any service fees on top of the exchange rates we directly use from Fairlays exchange markets, which directly converts coins from popular exchanges. Once you send anything to the generated deposit address, whatever arrives there and is confirmed will be immediatly converted into the target coin and be send out to you without any further deductions (the transfer fee is dynamically calculated to be as low as possible). The exact rates and tx fees are transparently shown on the status page and always in the footer. Our calculated transaction fees are as low as the network allows and MUCH lower than any other exchange and highly competetive!
Don't worry, the exact minimum and maximum amounts (including tx fees) will be displayed transparently on the Status Deposit page generated for you! Try it out with a small amount and if you like the service, use it again :)
- If you send an amount too small (less than the fees in the footer or stated on your deposit page), we cannot refund or exchange any coin for you, so make sure to send at least that amount (probably better use few times that amount, even for testing). Receiving DASH is by far the cheapest, you could test super low amounts below 1 cent (~0.00003 DASH) with it and still receive something.
- There is also a upper limit of how much you can send shown on the Deposit Status page, which reflects how much our system can currently handle (around the 0.5 BTC range or lower if our hotwallet is currently running out of funds, come back later for higher amounts). If you want to exchange much higher amounts we recommend using an exchange.
- Due to the high tx fees for BTC we will attempt to refund you in the selected alt coin when using Precise Mode even if the exchange failed (if that fails too, the receive address is used and if that fails too a BTC refund to the sender address will be attempted). Normally most exchanges will go through without problems, if there are any problems on our side you will see it on the start page before any deposit address is generated.
How does Precise Mode work?By default all orders are processed in quick mode, which is the fairest option we can offer. Whatever amount is deposited by you will be immediately converted at the current market rate and directly send out to your receive address (minus the minimum required transaction fee, which is usually tiny, see the footer for details). This whole process takes less than a second once your deposited coins arrive and are confirmed (which might take much longer, but is outside of our control).
Precise Mode works very different from this and will ensure the EXACT amount you want to receive is actually exchanged and send out. This is useful to pay for exact bills, orders, etc. where you want to make sure the required amount is send (e.g. ordering from a website, sending exact amounts to a friend, number fanatics that want to have a full coin, livingroomofsatoshi.com, etc.).
So this this mode you don't select the amount of coins you deposit, but instead the amount of coins you want to receive! On the status page you are then presented with the required deposit amount (including up to 2% for any exchange rate changes and the receive transaction fee) you have to deposit for this order to complete. If you send less than the given amount or the exchange rate changes more than 2%, the order is immediately canceled and all your funds will be send back to your refund address (always in the altcoin for lower fees). For most orders the exchange rate will not change by more than 2%, especially not when using a fast coin like ETH, LTC or DASH. Please do not send different deposit amount than what is presented to you on the status page, if by mistake you send a way too high amount, the order went through and the remainder wasn't refunded, please contact support.
Where are the coins exchanged?This site is hosted by Fairlay.com, a Bitcoin Prediction Market. One of the features of Fairlay is the exchange from and to BTC via ETH, DASH, LTC and BCH. This site simply utilizes this functionality (and nothing more, so we can't current support more coins). If you like you can create an account on Fairlay and do the same there. Currently there are zero fees on Fairlay or Shift for using this service (except for the transaction fees paid to the blockchain and the spread between ask and bid orders, which is usually between 0.1% and 0.5%), thus we are currently cheaper than all other competing services :) If there are huge swings in a coin you still might be able to get rates cheaper on other sides, but those orders usually won't go through.
Can I buy with USD or EUR or debit card or credit card?No, this exchange is only for exchanging from or to Bitcoin (BTC) from/to Ethereum (ETH), Litecoin (LTC), DASH or Bitcoin Cash (BCH). We have a strict no fiat policy and only allow users to exchange between the supported cryptocurrencies.
What happens if the exchange rate changes while I deposit?Depending on the deposit currency you choose the incoming deposit transaction might take some time. Using fast currencies like Dash, Eth or Litecoin is almost instant or happens in seconds or few minutes at the most. During that time exchanges do usually not change much or at all (check Fairlays exchange markets to see how the charts are doing).
However BTC and BCH can have rather long confirmation times, even in best conditions it might take 10-15 minutes and if your transaction fee was low and the blocks are full you might have to wait hours. This is not really predictable, thus we support the option to cancel an order. Simply go to the Status page (you will be redirected there after you click Continue on the start page, you can always go back to your Deposit Status page), there you can cancel the deposit and will be refunded once the deposit arrives (minus the transaction fee to send the funds back). We want to make sure all users are happy with the service and will support the fastest possible transaction times, but once an exchange happened and the receive currency funds have been send, it is impossible to revert anything (this is how blockchains work). Thus all executed orders are final!
To receive an exact amount use the Precise Mode as described above. However, everything said here still applies and you can cancel any type of order as long as it did not go through yet.
Can I reuse my deposit address?Yes, but we recommend always generating a new deposit address (it is very simple both on the start page or via the API). In the future we might timeout deposit addresses after 7 days, so better generate a new deposit address when you need it. Sending new funds to an old deposit address will restart the Status page, so we recommend doing it only after the previous deposit is done. You can also keep your deposit status page bookmark forever and always go back and check what you did in the past.
What are the deposit limits?Currently we limit everything to max. 0.5 BTC or the equivalent in any other currency, see the exact minimum and maximum amounts on the Deposit status page. Above is a more detailed explanation (see "What are the fees?"). You can also try higher amounts directly on the Fairlay exchange markets.
Can you add more coins?Sorry, not planed at the moment. Our service depends on the Fairlay exchange markets and as long as there are not more currencies available at Fairlay itself, we most likely will not support additional coins here. We recommend using one of the alternative sites shown in the footer, which support many more coins than we do (their fees are a bit higher, but they are much bigger companies that can support more coins).
For more options and more control you can also create a free account on Fairlay.com. Creating an account just requires one click and gives you more options.