ShapeShift

What is KeepKey wallet

KeepKey is a hardware cryptocurrency wallet that allows users to securely store their digital assets, such as Bitcoin, Ethereum, Litecoin, and others. It was first released in 2015 and is manufactured by the cryptocurrency exchange and wallet provider, ShapeShift.

The KeepKey wallet is a small, USB-connected device that features a large, easy-to-read display for viewing transaction details and a button for confirming transactions. Its primary function is to store private keys offline, which provides a high level of security against hacking and theft.

To use the KeepKey wallet, users first need to set it up by connecting it to their computer or mobile device and creating a new wallet. Once the wallet is set up, users can send and receive cryptocurrencies, view their transaction history, and manage their account settings.

Overall, the KeepKey wallet is a popular choice among cryptocurrency enthusiasts who value security and convenience.

The history of KeepKey wallet creation

The KeepKey wallet was created by a company called KeepKey LLC, which was founded in 2014 by Darin Stanchfield, who is also the current CEO. The company was based in Seattle, Washington, and its mission was to create a secure and easy-to-use hardware wallet for storing cryptocurrency.

The development of the KeepKey wallet began in late 2014 and was completed in 2015. The first version of the wallet was released in September 2015 and quickly gained popularity among cryptocurrency enthusiasts who were looking for a secure and reliable way to store their digital assets.

In August 2017, KeepKey was acquired by ShapeShift, a leading cryptocurrency exchange and wallet provider. Following the acquisition, ShapeShift announced that it would continue to support and develop the KeepKey wallet as a standalone product.

Since its release, the KeepKey wallet has received positive reviews for its ease of use, security features, and sleek design. It remains a popular choice among cryptocurrency investors who prioritize security and want to keep their digital assets safe from hackers and other threats.

How KeepKey wallet works

The KeepKey wallet works by providing a secure and user-friendly way to store, send, and receive cryptocurrency. Here is how it works:

1. Secure Storage: The KeepKey wallet stores your private keys in a secure offline environment, protecting your digital assets from online threats such as hackers, viruses, and malware. When you want to send cryptocurrency, you need to confirm the transaction using the device’s physical button.
2. Compatibility: The KeepKey wallet is compatible with various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and more. You can easily manage and view all your crypto assets in one place, making it easier to keep track of your portfolio.
3. Easy-to-use Interface: The KeepKey wallet has a simple and intuitive user interface, making it easy for both beginners and experienced cryptocurrency users to manage their digital assets. The device has a large OLED display that shows your transactions and wallet balances, making it easy to review and confirm transactions.
4. Integration with Wallet Software: The KeepKey wallet is compatible with wallet software such as Electrum, Multibit, and Mycelium, allowing you to manage your cryptocurrency using the software of your choice. You can also integrate KeepKey with ShapeShift, allowing you to exchange cryptocurrency without leaving the wallet’s interface.
5. Backup and Recovery: The KeepKey wallet comes with a recovery seed that you can use to restore your wallet if you lose the device or forget your password. This seed is a list of 12 or 24 words that you can use to recover your private keys and access your funds.

Overall, the KeepKey wallet is an easy-to-use, secure, and reliable way to manage your cryptocurrency assets. Its offline storage and physical button provide an extra layer of security that is critical in today’s digital world.

What wallets work with KeepKey

The KeepKey wallet is compatible with several wallet software applications that allow you to manage your cryptocurrencies. Here are some of the wallets that work with KeepKey:

1. Electrum: Electrum is a popular Bitcoin wallet that is compatible with KeepKey. It is a desktop wallet that allows you to store, send, and receive Bitcoin. You can connect your KeepKey to Electrum and use it as a hardware wallet to store your Bitcoin securely.
2. MultiBit: MultiBit is another desktop wallet that is compatible with KeepKey. It supports Bitcoin and offers several features such as support for multiple languages, custom transaction fees, and the ability to manage multiple wallets.
3. Mycelium: Mycelium is a mobile Bitcoin wallet that is compatible with KeepKey. It offers a user-friendly interface and supports features such as QR code scanning, transaction history, and the ability to buy and sell Bitcoin.
4. ShapeShift: ShapeShift is a popular cryptocurrency exchange that also supports KeepKey. You can use ShapeShift to exchange cryptocurrencies without leaving the KeepKey interface.
5. Exodus: Exodus is a desktop and mobile cryptocurrency wallet that supports KeepKey. It offers a sleek interface and supports several cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.

Overall, KeepKey is compatible with several wallet software applications that offer different features and benefits. You can choose the one that works best for you based on your needs and preferences.

What can I store on KeepKey

The KeepKey wallet can store a wide range of cryptocurrencies, including:

1. Bitcoin (BTC)
2. Bitcoin Cash (BCH)
3. Ethereum (ETH)
4. Litecoin (LTC)
5. Dogecoin (DOGE)
6. Dash (DASH)
7. Bitcoin Gold (BTG)
8. Decentraland (MANA)
9. DigiByte (DGB)
10. Kyber Network (KNC)
11. OmiseGO (OMG)
12. Polkadot (DOT)
13. Tether (USDT)
14. Uniswap (UNI)
15. USD Coin (USDC)
16. and many more.

KeepKey supports over 40 cryptocurrencies and is constantly adding support for new ones. To store a cryptocurrency on KeepKey, you need to first download the corresponding wallet software that supports that cryptocurrency and then connect your KeepKey to the software. You can then send and receive that cryptocurrency using your KeepKey. Keep in mind that you need to have enough storage space on your KeepKey to store all your cryptocurrencies, so it’s a good idea to check how much space is available before adding new ones.

ShapeShift cryptocurrency exchange platform

What is ShapeShift

ShapeShift is a cryptocurrency exchange platform that allows users to convert between different cryptocurrencies without the need for an account or registration process. It was founded in 2014 and is based in Switzerland.

By entering only the amount and destination address, users can quickly and effortlessly convert one cryptocurrency to another on the ShapeShift platform. Around 50 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, are supported by the site. For iOS and Android mobile devices, ShapeShift also provides a mobile app.

ShapeShift’s requirement that users not set up accounts or submit any personal information is one of its standout features. This implies that users of the platform can continue to be private and anonymous. But, in order to conduct a transaction on ShapeShift, users must enter a legitimate bitcoin wallet address.

ShapeShift charges a small fee for each transaction, which varies depending on the cryptocurrencies being exchanged. The platform also offers a loyalty program called the FOX token, which allows users to earn rewards for using the platform.

The history of ShapeShift

ShapeShift was founded in August 2014 by Erik Voorhees, a prominent figure in the cryptocurrency community. The platform was created to address the need for a simple and easy-to-use cryptocurrency exchange that did not require users to go through a lengthy registration process.

In 2015, ShapeShift launched a new feature called “KeepKey,” which was a hardware wallet designed to store cryptocurrencies securely. KeepKey was later acquired by ShapeShift in 2017 and is now integrated into the platform.

In 2016, ShapeShift experienced a security breach in which a hacker was able to steal a small amount of Bitcoin. The company quickly responded by enhancing its security measures and reimbursing affected users for their losses.

Over the years, ShapeShift has continued to expand its services and offerings. In 2018, the company launched a new loyalty program called FOX Tokens, which allow users to earn rewards for using the platform. ShapeShift has also integrated with a number of other cryptocurrency services, including Trezor and Ledger hardware wallets.

Today, ShapeShift is one of the most popular cryptocurrency exchanges, known for its simplicity and ease of use. The company has processed over 50 million transactions and has a strong reputation for security and reliability.

How ShapeShift works

ShapeShift is a cryptocurrency exchange platform that allows users to quickly and easily convert one cryptocurrency to another. Here is how it works:

1. Choose the cryptocurrencies you want to exchange: On the ShapeShift platform, select the cryptocurrency you want to exchange from the list of supported assets. 
2. Enter the wallet addresses: You will need to provide the wallet address for both the sending and receiving cryptocurrencies. Make sure to double-check these addresses to ensure accuracy.
3. Confirm the transaction: After entering the wallet addresses, ShapeShift will provide you with a unique deposit address. Send the specified amount of cryptocurrency to this address within the time limit provided. Once the deposit is confirmed on the blockchain, ShapeShift will initiate the exchange and send the exchanged cryptocurrency to your provided address.
4. Receive the exchanged cryptocurrency: Once the exchange is completed, the exchanged cryptocurrency will be sent to the wallet address you provided. 

One of the key features of ShapeShift is that it does not require users to create an account or provide any personal information. This means that users can maintain their privacy and anonymity while using the platform. However, ShapeShift does require users to provide a valid cryptocurrency wallet address to complete a transaction.

Does ShapeShift charge a fee

Yes, ShapeShift charges a fee for each transaction, which varies depending on the cryptocurrencies being exchanged. The fee is usually between 0.5% to 1% of the total transaction amount.

The fee charged by ShapeShift is used to cover the costs of the network fees associated with processing the transaction on the blockchain. These fees are charged by the miners who process and validate transactions on the blockchain, and they can vary depending on the network congestion and other factors.

ShapeShift also offers a premium membership called ShapeShift Membership, which offers reduced trading fees and other benefits. The membership fee is paid in FOX Tokens, which is a loyalty program offered by ShapeShift. FOX Tokens can also be earned by trading on the platform, and they can be used to pay for trading fees or redeemed for other benefits.

Can ShapeShift be trusted

ShapeShift has been operating in the cryptocurrency industry for several years and has established a reputation as a reliable and trustworthy platform. The company has processed over 50 million transactions and has a strong track record of security and reliability.

ShapeShift uses industry-standard security protocols to protect user data and funds. The platform employs multi-factor authentication, encryption, and other security measures to ensure that user information is kept safe.

Additionally, ShapeShift does not require users to create an account or provide any personal information, which can help maintain user privacy and security. However, it is important to note that providing accurate wallet addresses is critical to ensure that funds are sent to the correct destination.

That being said, as with any cryptocurrency exchange, there are risks involved with using ShapeShift or any other exchange. Cryptocurrencies are highly volatile, and their values can fluctuate rapidly. It is important for users to exercise caution when trading cryptocurrencies and to thoroughly research the risks associated with any investment.