Toronto-based Bitcoin consultancy and software development company Decentral has announced the integration of its Jaxx line of blockchain wallets with digital currency exchange platform ShapeShift.io.
The integration of ShapeShift with Jaxx wallets will enable users to convert between bitcoin, ether and DAO tokens directly within the Jaxx wallet. It will also support any tokens that Jaxx and ShapeShift integrate in the future.
“Jaxx and ShapeShift together will, without doubt, be the easiest solution for buying ether with bitcoin (and vice versa) ‒ and it’s done right in your Jaxx wallet!” said Anthony Di Iorio, CEO and founder of Jaxx and Decentral.
According to Erik Voorhees, founder and CEO of ShapeShift, ShapeShift’s API was designed with the purpose of making cross-cryptocurrency conversions easier.
“We built ShapeShift's API for this very reason — to enable other services in this ecosystem to leverage it for the benefit of their users,” Voorhees said. Converting blockchain assets should be as easy as clicking a button, and Jaxx's integration of ShapeShift demonstrates this principle.”
How It Works
Explaining how the process works in a blog post, Di Iorio said that to start a conversion users first need to select their Bitcoin wallet and open the “send” tab, select the ShapeShift icon and enter the bitcoin amount they would like to shift, then confirm the transaction. Ether will show up in their Ethereum wallet when the transaction is completed.
The process for buying bitcoin with ether or DAO is the same. Users just need to start with their Ethereum or DAO wallet instead. The Jaxx wallet also displays the current conversion rate and minimum/maximum deposit amounts for the shift.
“This method is far simpler than going to the ShapeShift site, as you don’t need to enter deposit or return addresses. It all gets automatically done in Jaxx using your built-in Bitcoin and Ether wallets,” Di Iorio said.
Speaking on the partnership with ShapeShift, Di Iorio said that the integration of ShapeShift’s API with the Jaxx wallet will help the company in realizing its vision of becoming the industry’s default blockchain wallet.
“The Jaxx ShapeShift integration is one of many partnerships we anticipate with companies around the world,” Di Iorio said. “We believe our single code base and the ability to deploy in minutes across all platforms and devices gives us a huge advantage towards becoming the industry’s default blockchain wallet.”
As of now, interoperable versions of Jaxx are available on nine major platforms. The company also recently announced a preview of integrating Coinbase’s “Buy Widget” with Jaxx wallet to enable users to buy coins and tokens from the wallet itself.