Trezor Wallet Welcomed Third Party Exchanges

Trezor Wallet Welcomed Third Party Exchanges

SatoshiLabs announced the release of converting option to the Trezor Wallet, but some owners are not too happy about it

In a bid to make Trezor Wallet more functional, SatoshiLabs integrates exchanges ShapeShift and Changelly making it possible for users to exchange cryptocurrencies without leaving the wallet itself. The exchange process if pretty simple; there is a Trezor-wiki instruction.

KYC Issue

Trezor as a hardware wallet and a non-custodian service can be used without the need for KYC. But if the two integrated exchanges require KYC, then the registration and verification is to be undertaken by the exchanges. SatoshiLabs and Trezor will not process or request for any of the user’s personal data.

The KYC issue has created a stir among the community. Some voiced their opinions on Twitter stating disappointment that Trezor took the centralized exchange path, while others are asking what information Trezor will give to the exchanges:

The officials and other part of community keep on reminding that this is not a compulsory procedure for general usage of the wallet:

ShapeShift and Changelly

Swiss-based company, ShapeShift AG, has several cryptocurrency products under its umbrella: CoinCap, KeepKey, and which allows for trades of BTC and altcoins such as ETH, and LTC through its platform.

The Changelly platform equips wallets with its API to achieve a seamless exchange for a variety of digital assets.

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