Understood. I do like the flexibility of setting the fee with Electrum.

My only problem with the Windows Electrum app is that I have to run it as administrator in order for the app to recognize the KeepKey HW wallet. This is a known issue with the app. But otherwise, I love the flexibility in configuring the wallet (you can define the derivation path manually).

My favorite Android wallet is Coinomi. I only wished it worked with the HW wallet.

Previously, I was using Coinbase as my Fiat->BTC exchange. But it looks like ShapeShift's fees are actually lower.

For example, if I want to purchase $500 of BTC:

• Coinbase fees: $7.34
• ShapeShift fees: $2.50

It looks pretty good to me.

Are there any other fees that I am not aware of?

Thanks for the reference. That page clearly explains the limitation of the Chrome App - I hadn't seen that page before, and was surprised as the different operation between the app and the ShapeShift web portal.


I use Electrum as my primary wallet (on my Windows 10) and I like it a lot. The instructions you referenced show setting it up only for the m/44'/0'/0'/0/0 - P2PKH addresses, so I would still be missing the M/49' addresses (AFAIK Electrum only handles one derivation path per wallet). So I would set up multiple wallets to see all my coins (I do that with another wallet I initially created with the Coinbase Android app, which seamlessly supports all 3 paths).

By the way, this is my first hardware wallet. When using it with Electrum, it appears the only benefit is that I never entered my 12-word phrase into Electrum - the KeepKey handles that. Otherwise the Electrum software does the same thing it does with my other software wallets, correct? Is that the only benefit of a HW wallet, keeping the private keys off of the computer?

Thanks for the help!

I just got a keepkey and following the instructions, set it up with ShapeShift.

According to a receive bitcoin address I generated on ShapeShift, I determined that it follows the BIP49 (Segwit compatibility) format, with a derivation path of m/49'
I transferred some bitcoin to the wallet, and it showed up in the ShapeShift website just fine.

I then loaded the chrome app "KeepKey App" which is from "keepkey" and it correctly discovered my keepkey wallet. After authenticating with my pin, the BTC balance was 0!
According to a receive bitcoin address I generated with the KeepKey App, I determined that it follows the BIP44 (Standard) format, with a derivation path of m/44'

Obviously these are two different wallet interpretations.

Is this correct? I would expect the official KeepKey App and the now official ShapeShift site to see the same addresses.

Any comments?