How and Where to Buy Shyft Network (SHFT) – Detailed Guide
- What is SHFT?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy BTC with fiat money
- Step 3: Transfer BTC to an Altcoin Exchange
- Step 4: Deposit BTC to exchange
- Step 5: Trade SHFT
- Last Step: Store SHFT securely in hardware wallets
- Other useful tools for trading SHFT
- Frequently Asked Questions
- Latest News for SHFT
- SHFT Price Prediction and Price Movement
What is SHFT?
What Is Shyft Network (SHFT)?
Shyft Network is a public blockchain protocol for aggregating, verifying and validating data that is stored in private and public ecosystems, as well as permissioned and permissionless networks. Shyft turns raw data into meaningful information by bridging siloed datasets. Thus, the Shyft Network instills trust in this data, plus creates a reliable level of transactions for the industry and the public sector of the economy.
The idea of the project developers is to create an easy-to-use and secure platform for KYC/AML identification and user certification (which can guarantee the safety of data) and via blockchain, reduce storage costs and increase efficiency. Shyft encourages clients to work on adding context to data, thereby creating authentic digital structures of reputation, identity and creditworthiness.
The Shyft Network creates regulatory-compliant tools for decentralized finance (DeFi), bridging the gap between centralized and decentralized organizations and making it easier for them to enter the blockchain world. Their goal is to aid mainstream financial institutions into DeFi and participate in a compliant manner. This could potentially attract large capital inflows and millions of users from mainstream markets into crypto.
Veriscope is Shyft’s blockchain-based compliance framework and smart contract solution for virtual asset services providers (VASPs), such as crypto exchanges, non-custodial wallets and brokerage firms. This is to comply with the Financial Action Task Force (FATF) Travel Rule. FATF is an intergovernmental organization focused on countering money laundering and terrorism financing.
Who Are the Founders of Shyft Network?
The company was established in 2017 in Bridgetown Barbados. It is founded by a group of experienced founders that have collectively launched successful companies in the ecosystem since 2012.
The core team of Shyft Network consists of five people who are responsible for technical elaboration, architecture implementation and network development vector. These include Joseph Weinberg and Juan Aja Aguinaco (co-founders of Shyft Network), Chris Forrester (CTO), Kristofer Coward (Chief Scientist) and Fredrico Nassire (CSO).
The vision of the Shyft team is to erase the boundaries imposed around personal data using blockchain. Shyft Network operates and grows with industry leaders as technical and ecosystem consultants. In addition to the usual team, Shyft has enlisted the support of global consultants: Bruce Silcoff and Suzanne Ennis, who are part of the Shyft Enterprise Executive Team. They act as a sales department and set a course for long-term partnerships and lucrative multi-year contracts.
What Makes Shyft Network (SHFT) Unique?
There are three initial use cases for the Shyft Network: compliance with the FATF Travel Rule using Veriscope smart-contract platform; bridging DeFi and large liquidity providers by regulatory compatibility; KYC process for government digital identity systems in partners like financial institutions, healthcare providers, telecoms and government agencies.
Key features of Shyft Network include:
The Shyft block explorer, which offers a set of tools to launch block explorers (removing a potential point of failure) and the ability to view individual transactions that are part of internal transactions.
Specially designed smart contracts regulate a number of key platform functions and facilitate KYC/AML verification.
Shyft Safe is an accounting software built on smart contracts that manages and protects assets. It works by ensuring a secure asset is cross-validated. This procedure takes place across multiple blockchains and eliminates data invalidation issues.
Related Pages:
Read about Polkastarter (POLS) – a public protocol for cross-chain token pools and auctions.
Read about Polkadot (DOT) and Polygon (MATIC).
What is Anti-Money Laundering (AML)? Click here and find out.
Learn more about the KYC process here.
What are privacy coins? Are they legal? We answer that on our education portal – Alexandria.
How Many Shyft Network (SHFT) Coins Are There in Circulation?
The SHFT token is an ERC-20 standard currency of the Shyft protocol that was launched for identification and data transmission. SHFT is a governance mechanism that fosters coordination between ecosystems.
SHFT is a native token that fuels the Shyft protocol. The token acts as a means of payment, a mechanism for linking value, and a tool for capturing value. The currency is issued for identification and data transmission, and it serves as a governance mechanism for coordination between ecosystems. SHFT pays for data verification, storage services and smart contracts.
The maximum supply is 2,520,000,000 SHFT, and the distribution of tokens is as follows: 23.81% to ecosystem development; 0.91% to public distribution; 20% to economic metagame; 5.68% to advisors; 5.48% to ongoing technical partnerships; 26.26% to purchasers; 17.86% to core team.
An initial DEX offering (IDO) took place on March 26, 2021 on the Polkastarter platform. The proceeds from the sale of SHFT went to the DAO to provide grants to the community of developers, and to users of Shyft Network based on decentralized consensus.
How Is Shyft Network Secured?
The Shyft system provides platform users with the KYC verification, which gives security status to any personal data. This eliminates the risk of hacking, and users can count on the absolute confidentiality of their identity.
Shyft Network eliminates the need for a centralized storage of KYC data, and to prevent users from being hacked, the developers offer decentralized virtual profiles. The network unifies the KYC procedure, but at the same time guarantees a high level of personal data protection. Shyft offers assistance to anyone interested in verification and protection, ensuring the conservation of the provided KYC credentials.
Shyft Network can function with existing applications both in the Ethereum environment and other networks. Shyft is interoperable with blockchains, so the platform takes advantage of these networks. This feature is significant, since projects can operate in different ecosystems.
Where Can You Buy Shyft Network (SHFT)?
As of August 2021, the top exchanges where you can buy, sell, and trade Shyft Network
(SHFT) are: KuCoin, Gate.io, Uniswap (V2), 1inch Exchange, Bilaxy and Jubi.
The SHFT token is based on the Ethereum network so it can be stored with any ETH compatible wallet, such as Trust Wallet or MetaMask. And if you are a newbie, you can find our simplified guide for purchasing crypto like BTC, ETH and SHFT.
Visit CoinMarketCap's blog for the market news, product updates and recent announcements.
SHFT was first tradable on 23rd Mar, 2021. It has a total supply of 2,520,000,000. As of right now SHFT has a market capitalization of USD $14,818,045.13. The current price of SHFT is $0.00588 and is ranked 926 on Coinmarketcap and has recently surged 47.86 percent at the time of writing.
SHFT has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy SHFT.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.
Select Fiat-to-Crypto Exchange for details:
- UpHold
Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:
- Easy to buy and trade among multiple assets, more than 50 and still adding
- Currently more than 7M users worldwide
- You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
- Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
- No hidden fees and any other account fees
- There are limited buy/sell orders for more advanced users
- You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
- USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.
You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.
Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.
Step 2: Buy BTC with fiat money
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Bitcoin, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.
Step 3: Transfer BTC to an Altcoin Exchange
- Gate.io
But we are not done yet, since SHFT is an altcoin we need to transfer our BTC to an exchange that SHFT can be traded, here we will use Gate.io as our exchange. Gate.io is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here and we recommend US traders to sign up on this exchange. The exchange is available both in English and Chinese (the latter being very helpful for Chinese investors). Gate.io’s main selling factor is their wide selection of trading pairs. You can find most of the new altcoins here. Gate.io also demonstrates an impressive trading volume. It is almost every day one of the top 20 exchanges with the highest trading volume. The trading volume amounts to approx. USD 100 million on a daily basis. The top 10 trading pairs on Gate.io in terms of trading volume usually have USDT (Tether) as one part of the pair. So, to summarize the foregoing, Gate.io’s vast number of trading pairs and its extraordinary liquidity are both very impressive aspects of this exchange.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at Gate.io and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Gate.io!
Now go back to Gate.io and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from Gate.io once your BTC has arrived. And you are now finally ready to purchase SHFT!
Step 5: Trade SHFT
Go back to Gate.io, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "SHFT", you should see SHFT/BTC, select that pair and you should see a price chart of SHFT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy SHFT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy SHFT". Voila! You have finally bought SHFT!
Last Step: Store SHFT securely in hardware wallets
Ledger Nano S
- Easy to set up and friendly interface
- Can be used on desktops and laptops
- Lightweight and Portable
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
Ledger Nano X
- More powerful secure element chip (ST33) than Ledger Nano S
- Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
- Lightweight and Portable with built-in rechargeable battery
- Larger screen
- More storage space than Ledger Nano S
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your SHFT for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.
Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Frequently Asked Questions
Can I buy SHFT with cash?
There is no direct way to buy SHFT with cash. However, you can use marketplaces such as LocalBitcoins to first purchase BTC, and finish the rest of the steps by transferring your BTC to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.
Are there any quick ways to buy SHFT in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.
Are there any alternative platforms to buy SHFT or Bitcoin with credit cards?
Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
Read more on Shyft Network's fundamentals and current price here.