What is SHIFT?
Shift is a blockchain platform that is open-source in nature. The platform has created a built-in “dApp” also known as decentralised app. The first dApp from Shift is called Phantom and it plays a central role in Shift‘s architecture. It is a layered application providing a technology stack built for decentralization. It consists of a freely available technology called the InterPlanetary File System (IPFS which is a popular peer-to-peer hypermedia distribution protocol that servers as the backbone for many decentralized storage applications.
Features of SHIFT
Where to buy SHIFT?
The total supply of SHIFT coins is capped at around 11 million. The tokens are listed on exchanges like Bittrex, Livecoin, and Upbit.
SHIFT tokens cannot be mined as it uses Proof-of-Stake algorithm.
SHIFT tokens can be stored in the platform’s own web and nano wallet.
On 24 May, 2018, the market capitalisation of SHIFT tokens was $23,251,955 while the price of 1 coin was $1.93. At the beginning on January, 2018, the price on 1 SHIFT token was around $10. However, in the following months the price kept falling till it reached around $1 in May.
Risks involved with investing in Shift
Cryptocurrencies are volatile in nature and hence, it is easy to predict the rise and fall in the prices. They are also subject to government regulations. Hence, it is advised to invest in mutual funds instead as they are more secure and reliable mode of investment.
"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.
A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."