The Swiss ShapeShift has purchased the Bitcoin Hardware Wallet Startup KeepKey. This posted KeepKey on Wednesday, 16 August, on its website. This is the first time a takeover of a start-up company, which is exclusively specialized in hardware products. The combination of ShapeShift and KeepKey is designed to allow users to securely store Coins on a KeepKey device while simultaneously acting directly from the device via ShapeShift.
“With ShapeShift, users do not have to hold assets on a bitcoin exchange, they do not need a computer with KeepKey,” says ShapeShift CEO Erik Voorhees. He believes that it will be customary in the future to keep keys on a hardware and to handle the cryptoscale trade directly from the hardware. According to Voorhees, the storage on a cold storage wallet also has the advantage of keeping digital currencies completely offline. This protects against theft or manipulation and increases the security of the users who want to deal with cryptic malfunctions. The cooperation of the Wallet Startup KeepKey with ShapeShift considerably reduces this risk.
KeepKey-CTO Ken Hodler said:
“This partnership will not only secure KeepKey’s future success, but will also enable us to focus on the development of better technologies and security for the owners of cryptos.”
Last summer KeepKey had synchronized with ShapeShift and supported Bitcoin, Ether, Litecoin, Dash and other digital currencies.