ShapeShift Acquires KeepKey in a Move to Provide Seamless Crypto Exchange

In a development that marks the growing maturity and innovation of the market, Swiss digital currency exchange Shapeshift AG has acquired KeepKey Holder LLC, a digital wallet maker, in an all-Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term deal.

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The terms of the deal were not disclosed but this acquisition has been innovative in more than one way - this is probably the first major acquisition deal to be completed purely using bitcoins.

One of the major drawbacks of the crypto industry is the fact that the sending and receiving of cryptocurrency requires a digital wallet which is always located online.

So, a user has to create a wallet with a digital wallet provider and then move to the exchange to send or receive digital currency to that wallet. This is not only a cumbersome process, it also exposes the client and the wallet to a lot of security risks.

Providing a Smooth Exchange

Shapeshift hopes to overcome this problem by having both the wallet and the exchange in the same place and by using a hardware wallet, thus providing a seamless experience to its clients and also improving the security of these digital assets.

The Chief Operating Officer of Shapeshift, Erik Voorhees, said: "Amid heightened interest in the concept of digital currencies, a simple, user-friendly Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term wallet with the ability to facilitate trading or exchanging for another crypto-currency is key to wider adoption.”

Digital currencies are usually stored online on a laptop or similar such instrument, which opens them up to possible theft and hacking. The company hopes to overcome this problem by using a cold-storage wallet - storing the digital assets offline will reduce the risk of them being stolen.

Shapeshift believes that the KeepKey wallet will be able to help them provide a smooth experience for its users, and improve its volumes and margins.