S4 E1: ShapeShift COO Jon on the KeepKey Hardware Wallet

Season 4 of the Bitcoin Takeover Podcast is all about hardware wallet makers and the people who break them. Therefore, the next 10 episodes will feature interviews with important figures from the field of Bitcoin security who will be talking about the best ways to maintain your financial sovereignty.

As Trezor and Coldcard have updated their devices, and new players such as Coldcard and BitBox have emerged as serious contenders, the KeepKey is the oldest hardware wallet on the market. As described in the three-part review of hardware wallets that I wrote for Bitcoin Magazine, it has multiple limitations and may not be ideal for certain applications. However, it does have advantages of its own.

ShapeShift COO Jon has agreed to do an interview in which he answers to some tough questions about the security model of the KeepKey, while also explaining the advantages of the new ShapeShift platform. Most importantly, Jon has talked about the main differences between the KeepKey and the competitors (Trezor, Ledger, Coldcard, BitBox).

The discussion also diverges towards the end, as the ShapeShift COO explains the privacy and security features of the exchange service.

Listen to the episode on iTunes and Spotify. Update: The YouTube video is now live.

For more information, read my three-part review of the five hardware wallets on Bitcoin Magazine by accessing these links: Part One, Part Two, Part Three.

Here are some of the questions to which Jon had to reply:

1. Why should bitcoiners buy a hardware wallet? In which ways is it better than cold storage methods like the paper wallet or the steel plate?

2. Why should that wallet be a KeepKey? What is special about your device, compared to the competition?

3. Can you say something that you like and something that you don’t like about your competition? (this includes Trezor, BitBox, Coldcard, and Ledger)

4. How much of the code that goes into a KeepKey is open sourced and why do your competitors often call the device a “Trezor clone”?

5. In my review, the KeepKey hardware wallet was the oldest design and lacked several features. Is a new device on the way? And if so, what kind of features will it have?

6. Would you consider releasing a Bitcoin-only version of the KeepKey, to reduce the attack surface?

7. In the experience that I’ve had, the KeepKey is not as friendly with multisig setups as the Trezor Model T and the Coldcard Mk3. Are you planning to make any improvements in this regard?

8. Do you have any kind of recommendations for people who choose not to use the ShapeShift platform and go for Electrum and Wasabi?

9. Why did ShapeShift decide to also integrate the Trezor and the Ledger on their platform, thus supporting the competition?

10. What are KeepKey’s upcoming plans in the hardware wallet market?

11. The KeepKey is $29 cheaper if you sign up to the ShapeShift platform. Would you say that this is the price of users’ privacy and personal data?

Special thanks to LXMI and Bottle Pay for sponsoring this episode!


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On LXMI you can buy bitcoins with most fiat currencies and you can also do the trading for top Altcoins. 

They follow the “Not your keys not your bitcoins” philosophy with their integrated non-custodial wallet which helps you manage your own private keys. So if you’re into trading, then you don’t have to worry about having your Crypto frozen by whatever political decisions, since you’re empowered to hold and move your coins around whenever you wish. 

It’s great to have new players like LXMI that respect your financial sovereignty.

LXMI is launching in 2020 for more information please check out – www.LXMI.IO/

If you’re not trading, it’s recommended to move your coins to a hardware wallet or some other form of cold storage, and in this episode, you’re about to find why.

Please keep in mind that this is just an ad for a sponsor of this show. It’s not meant to serve as financial advice, and you’re responsible to do your own research before buying anything and act according to your own decisions. Embrace your financial sovereignty with agency and precaution.

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Written by Vlad
I like Bitcoin and I'm doing this podcast. Message me on Twitter if you'd like to be a guest.