ForexMinute.com — Bitcoin storage expert KeepKey has began the shipping of its flagship hardware wallet, which reportedly enables users to store funds offline.
The new Bitcoin wallet, which is now available for $239, claims to protect users’ Bitcoin from notorious virtual attacks through a stable security protocol. KeepKey’s founder Darin Stanchfield further compared their security features to those offered by big banks, and stated:
“Our guiding principle is to empower individuals and organizations with bank-grade bitcoin security. This is what our device does, and it is simple to use. Other products that are available require a high level of sophistication to operate. With KeepKey, it is very difficult to do the wrong thing.”
According to KeepKey’s press release, their wallet allows users to enjoy the full ownership of their private keys, without relying on third party custodians. These keys, while being generated, are never shared with the attached computer; instead, the wallet requires manual inputs from users to approve Bitcoin transactions.
“The user approves the transaction with a confirmation button on the device,” the press release explained. “The signed transaction is then sent to the connected computer and transmitted to the bitcoin network.”
Users are also required to install a native Google Chrome extension on their browser. The KeepKey Bitcoin wallet is also compatible with popular wallets including Electrum and MultiBit.
Other Similar Bitcoin Products
KeepKey’s USB Bitcoin wallet, however attractive it may look, is still a latecomer in the growing digital currency hardware market. Earlier, Ledger has also launched a multisig Bitcoin wallet that can be plugged into the computer through a USB. It costs around $39 in retail markets. Another Bitcoin hardware company Satoshi Labs has launched Trezor hardware wallet that allows users to circumvent third party custodians.
Very recently, a New York-based company Case has also raised around $2.25 million to create a biometric Bitcoin wallet. This product is available for pre-order.