SegWit enabled on ShapeShift bitcoin hardware wallet KeepKey

SegWit provides users lower transaction fees, decreased risk in sending transactions, and more efficient use of Bitcoin’s blockchain space

Keepkeysegwit

KeepKey, a bitcoin and cryptocurrency hardware wallet, acquired by ShapeShift back in 2017, today announced that SegWit support for bitcoin (BTC) has been enabled.

Last year, the KeepKey team began building a comprehensive web-based platform for KeepKey. While this improved the hardware wallet experience and is available to KeepKey owners for free, it meant SegWit for KeepKey had to be deprioritized, but now, SegWit integration is complete.

SegWit, short for Segregated Witness, is a protocol upgrade on Bitcoin activated in 2017 which changes the way data is stored. P2SH SegWit is now live on the KeepKey platform, as the team continues to work on support for full SegWit Native.

Overview

The KeepKey team recommends moving all BTC funds to the SegWit BTC address to realize all of its benefits.

See below the chart for SegWit payment adoption since activation:

The total percent of bitcoin payments completed via SegWit is currently at 43.7%