KeepKey, the hardware cryptocurrency wallet provider has announced the integration of ShapeShift. This integration will enable the company’s hardware wallet users to swap their digital currency assets from within the device itself.
The partnership announcement between KeepKey and ShapeShift makes it the first ever hardware wallet provider to integrate the latter’s crypto-crypto exchange service. Currently, the service allows wallet users to swap between three leading digital assets namely, Bitcoin, Litecoin, and Dogecoin (all cryptocurrencies presently supported by the device).
At the time when hacking incidents involving digital currency wallets and exchanges have become a regular occurrence, KeepKey will offer extra comfort and peace of mind to cryptocurrency traders. By using the new inbuilt ShapeShift feature, traders can now trade directly from their hardware wallet without having to expose their private keys to the internet.
The company has announced that it will soon be including support for other well-known cryptocurrencies as well. In the press release, the CEO of KeepKey Darin Stanchfield says,
“While digital asset security is KeepKey’s primary goal, we are making life easier for the growing number of consumers buying, selling and storing several types of cryptocurrency. They can swap whatever they like, whenever they like, without the hassle of setting up multiple wallets or addresses or signing up to various exchanges. For traders, it’s exciting to dramatically improve the speed and efficiency of the currency exchange process with the most secure hardware wallet on the market today. “
The founder of ShapeShift, Eris Voorhees is also quoted in KeepKey’s press release saying,
“Simple and convenient security is paramount for the growth of this industry. KeepKey is wisely bringing that ethos to greater circles of digital asset users with the ShapeShift integration,”
KeepKey has become the first mover when it comes to exchange integration into a hardware wallet. Users can access the new feature by unlocking the device and making transactions over multiple available accounts in a simple two-step process.
The integration of ShapeShift to a hardware wallet may just be the beginning of a whole new movement. Leading exchanges may soon develop custom APIs for integration with the most widely used hardware wallet brands. In such case, hardware wallets will begin to double as cryptocurrency trading platform as well.
It will also reduce the burden on exchanges, as the onus of security of the funds will shift from the online exchange platforms to individual users.
Ref and Image: KeepKey