How much fees asked there for simple BTC to ethereum convertion ? Is this one working the same as shapeshift where you only need to transfer amount and you will recieve it in provided address .i use that website in early 2017 when they are not requiring kyc for easy trade but not now. Is that exchange also asking to be verified with identity required?
Can you also trade in that exchange from ethereum to BTC and vice versa?
Afaik, if you start with standard BTC you pay the on-chain tx and a tiny channel rental fee once (all automated) to move it to L2 and swap it into ETH. From there, it's on L2. The same is true in the case of Ethereum. Start with ETH on L1, pay the on-chain fee and tiny channel rental fee once. The rest is done on L2.
Was shapeshift a mixing coin mixing service? I remember there were a few places that acted as custodians and triggered exchanges immediately, but they are in a rather murky area legally-speaking and are also capable of pulling an exit scam.
The biggest appeals to using Stakenet DEX are: no accounts, no KYC, non-custodial wallets, fast sync times, and no need to manually download individual blockchains for every coin you want to swap into. Your wallets and your keys are always yours and yours alone.
This is exactly how Stakenet leading the innovation and stuff of defi and crypto. I love the backbone of their project which is building the infrastructure of allowing INSTANT virtually FEELESS transactions by using 2nd layer networks for BTC (The Lightning Network) and Ethereum. This is the main reason why it is backed by a rock-solid bunch of users
The problem with on-chain transactions is: Transactions need to be confirmed on the blockchain to be accepted on the network, this takes time sometimes even HOURS on Bitcoins congested blockchain with 1 MB blocks storing the data of transactions.
The advantage of off-chain transactions is that transactions are instant, and the fees MUCH lower, since a Lightning Network node used to verify transactions is WAY more powerful, and thus confirms transactions faster. Off-chain transactions are nearly instant, and works much much better in a trading environment, such as a DEX.
