August 16, 2016
A few weeks ago a large crypto currency exchange was hacked, resulting in the loss of a large portion of its customer’s funds. Unfortunately this will unlikely be the last time we see an exchange get attacked. More and more people everyday are starting to appreciate the benefits of controlling your own private keys. Hardware wallets make doing this secure. KeepKey makes it secure and easy.
The promise of bitcoin is that there never needs to be custodianship of customer funds. ShapeShift, an instant blockchain exchange service, has made this promise the pillar of their service.
Today I am proud to announce our partnership with ShapeShift. The KeepKey hardware wallet has become ShapeShift “aware”. You are now able to simply exchange between crypto currencies stored on KeepKey, without ever putting your private keys (or your funds they secure) at risk. You can do this all through our KeepKey Chrome extension. At launch, currencies will include Bitcoin, Litecoin and Dogecoin, with more to soon follow. KeepKey shows you the exact details of your exchange with ShapeShift: one that ShapeShift has signed and KeepKey has validated.
By default for all users, this ShapeShift-ability is disabled. KeepKey’s new firmware includes a feature called Policies, and the ShapeShift policy must first be enabled. Otherwise, transactions will appear as normal crypto currency transactions. When the ShapeShift policy is enabled, KeepKey goes through the extra steps of verifying the exchange request originated from ShapeShift unchanged, and that the exchanged currency and refund addresses belong to KeepKey. The details are then presented on device and must manually be confirmed.
Beta testing starts next week, so please contact us if you would like to be included!