Non-custodial exchange ShapeShift’s loyalty token, FOX, has rallied by 178% today on the back of the announcement of the ShapeShift DAO
Crypto veteran Erik Voorhees’ non-custodial exchange, ShapeShift, announced yesterday that it will become a decentralised autonomous organisation (DAO), causing the exchange’s governance and loyalty token, FOX, to surge by almost 180% in just one day. The news was accompanied by whispers of a FOX airdrop, and the FOX price is now approaching previous highs.
To cash in on the hype surrounding the ShapeShift DAO and accompanying airdrop, many crypto investors are rushing to buy FOX Token today. Find out how and where to buy FOX in this article, as well as learning more about the token and the ShapeShift project.
How & where to buy FOX Token in the UK and elsewhere
FOX Tokens can be acquired by simply signing up for an account with ShapeShift, which upon completion will reward you with 10 FOX Tokens. However, with the price at less than $1 at the time of writing, investors wanting to profit in a meaningful way will need to buy FOX tokens from a broker or an exchange.
We recommend that you purchase cryptocurrency from a regulated broker or exchange like those recommended below. This avoids the regulatory issues that often attend the use of decentralised exchanges (DEXs), which can leave investors in the lurch when things don’t go to plan.
What is ShapeShift and what is FOX Token?
ShapeShift is a non-custodial exchange that offers zero fees and allows users to maintain control over their private keys. What does this mean?
It means that a user holds their funds in a private wallet that is connected to the exchange, rather than using an exchange’s wallet to trade. This eliminates the risk of losing funds to an exchange hack, as the coins are never held in a centralised location.
The FOX Token is awarded to users of the exchange, and entitles users to $10 worth of free trades per month. When the DAO launches, ShapeShift will become governed by FOX holders, who will be entitled to vote on various proposals for the network and potentially even derive an income stream from the platform.
Should I buy FOX today?
With an impressive rally of nearly 180% over the last 24 hours, FOX could certainly bring in more profits for investors if this momentum continues. If further rumours arise surrounding the launch of the DAO, or further clarification on the proposed airdrop emerges, then investors could potentially expect a sustained rally.