KeepKey, a Washington-based bitcoin hardware wallet provider, has announced that it has partnered with cryptocurrency exchange platform ShapeShift making it ShapeShift ‘aware’.
According to the official announcement, users can now be able to simply exchange between cryptocurrencies stored on KeepKey, without putting their private keys at risk. This can be achieved by using KeepKey Chrome extension. During the launch, digital currencies like bitcoin, Litecoin and Dogecoin are included and the company plans to add more cryptocurrencies soon.
“KeepKey shows you the exact details of your exchange with ShapeShift: one that ShapeShift has signed and KeepKey has validated,” the announcement stated.
The ShapeShift-ability is disabled for all users by default. As a new feature called Policies by KeepKey’s new firmware, the ShapeShift policy must first be enabled. If it is not enabled, the transactions will appear as normal cryptocurrency transactions. The company announced that the beta testing will start from next week.
“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 a device and must manually be confirmed,” it added.
Earlier this year, KeepKey partnered with the Vanbex Group, a leading Bitcoin 2.0 marketing and consulting firm and recently acquired UK-based software wallet company, MultiBit, in a deal made entirely in bitcoin.
