ShapeShift 101: Top 3 Tips for Successful ShapeShift Transactions
Believe us, we know how frustrating it can be to have a transaction fail on ShapeShift. Our staff doesn’t like it any more than you do. So how can you best ensure that your transaction completes quickly and without failure? Here are our top 3 tips on doing successful transactions.
Tip # One: Deposit an amount that is between the order limits
This particular tip is mostly a rookie mistake. Don’t take it too hard, little foxes. In order to offer speedy exchanges, ShapeShift keeps reserves of all of the assets we support. Due to this, we have a deposit limit–the most you can deposit without an order failing. We also have a minimum that can be deposited. If a user deposits over that limit or under the minimum, your order will fail. Where do you find that information, you may be asking? The limit and minimum can be seen on the left side of the screen next to the deposit drop down menu, as can be seen in the below screen shot. Make sure to always check these numbers.
Tip # Two: Make sure wallet miner fees are correctly set-up
This tip is something that many of our users are not aware of but can cause issues not only with ShapeShift transactions, but all transactions you do within the bitcoin/cryptocurrency space. Miner fees are the fees that are set in your wallet that help ensure your deposit will be picked up by the miners and placed on the blockchain. They are micro-transactions that are removed from the funds you send to any deposit address that incentivize miners to pick up your transaction. If a miner fee is below the standard fee for the altcoin you are depositing, it it possible that your deposit will never confirm, thus your order will never complete.
In order to avoid this issue, make sure you check and see what your miner fee in your wallet has been set to. Most wallets automatically set your miner fee to the correct standard fee, but it is possible that it is set below the standard. If you can not intuitivly find a way to change these fees in your wallet, reach out to your wallet provider and ask them to assist you to make these updates. To see a few of the miner fees for a portion of the coins we support, see the below image. Want to see all of the miner fees? Visit our About Page.
Tip # three: Input a return address
So we realize that inputing a return address does not ensure your order will succeed, but it will make the process of getting funds back in the case of a failure MUCH easier. This optional feature will save you time as you will not have to contact our support team and request a return. Your funds will automatically return to you in the case your order fails. Our support line is only open Monday-Friday from 11:30 AM EST-7 pm EST, so we are not always able to immediatly return your funds. But in the case you need us to, submit a request here. See the below image to find where you can input this address.