What is Keep Network (KEEP) and how to buy Keep Network Coin
What is Keep Network (KEEP)?
In this guide we will cover what it is and how to buy Keep Network Coin.
Keep Network (KEEP) is a cryptocurrency based on Ethereum’s ERC20 token protocol. It powers a decentralized ‘keep store’ which allows for password-protected encrypted data storage.
The most common use of Keep tokens will be within its own keep network but the ecosystem plans to develop plugins for other platforms. This includes Google Chrome, Firefox and Brave browsers, Mist, Geth, and Parity clients, and even Keep can be used by traditional programs.
Keep Network (KEEP) The Team behind it
The Keep team is made up of a number of developers and advisors including HitBTC developer Michael Kok, the founder of Ethereum’s first offline wallet MyEtherWallet Taylor Monahan, UX designer Jessica Thole, and Peter Vessenes. The Keep team has a proven track record of delivering projects on time with great user experience. And while most team members are based in Seattle Washington, they have offices in San Francisco California, and New York City as well.
Between their extensive leadership team background and backing by high-profile venture capital firms like Polychain Capital (over $400 million investment fund), it is no surprise that there was such a positive response to end the private sale period early after only 5 days.
Keep Network was listed on Coinmarketcap for the first time in late September. During its first day trading, KEEP had a peak market cap of $128 million with day one volume reaching over $2 million. The price of KEEP is currently sitting at just under half that achieved during the ICO, but adoption of their wallet and other products could lead to growth in demand for the token.
In October 2017, Keep has been working on finalizing their contracts and adding new features to the Keep system. They recently integrated support for WebAssembly which will allow the creation of lightweight contracts, allowing much faster execution times when compared to Ethereum Smart Contracts running on EVM. This feature will be available before main net launch in Q4.
Keep has also been working on a number of different improvements to their wallet user interface. This includes a new transaction details page that will display all the information users need about transactions including what vault or account has the funds and whether an address is owned by an app, individual, or team. Keep Network plans to launch version 1.1 of their software before the end of October 2017 with support for both Windows and Linux.
Keep Network (KEEP) Use Cases
As far as use cases go, there are a few digital currencies that have been built specifically for private payments which include Monero (XMR) and Zcash (ZEC). However, when looking at these coins it is important to realize that they currently sit in a regulatory gray area where they could be considered an “unregistered security” by regulatory bodies.
Keep Network (KEEP) Encryption
Keep Network does not work this way as the platform uses token cryptography (asymmetric) to encrypt data on the public blockchain so that it is impossible for anyone to decrypt the data without your key. Keep also allows users to set a different access policy for each vault or individual file which allows them to customize who can actually interact with their data and how they will be able to do so.
This high level of encryption made possible by Keep’s technology protocol means that KEEP tokens have a real-world value and are in demand, especially among individuals storing highly sensitive data like lawyers, accountants, doctors, and other professionals working in regulated industries.
For example; let’s say you want to demonstrate how much money you made in the previous year as part of your tax return. You could use Keep Network to securely upload only that information in a vault, and then send an encrypted version of the value to a trusted third-party or even your accountant which would allow them to view only that number on their screen without being able to see other data you have stored such as your address, date of birth and other personal details. What’s more is that this can be done with very low transaction fees, something that is not possible with Bitcoin’s blockchain at scale.
Keep Network (KEEP) Monetization
Keep Network plans to monetize their network through the implementation of paid apps along with enterprise-hosted services (not yet available). Paid applications will be used for example if someone wanted to build a social network that allows users to upload all their pictures and videos, messages, or other data in a highly secure vault that will not be accessible by anyone unless the user shares an access key with them.
This monetization strategy doesn’t seem like it will cause a problem for Keep Network as some people may actually prefer to pay a small fee to ensure their private data is secured on the blockchain. If this is the case then it makes sense for Keep Network to charge fees for uploading and updating sensitive information in vaults instead of allowing free use to build adoption among individual consumers. Once these individuals start using Keep, it can become a habit for many of them to continue using it even after they realize how much money they could save from payments made over the network.
Another aspect of their monetization process is the implementation and management of enterprise solutions which could be offered by businesses seeking to protect their data on a multi-organization level similar to how banks offer private banking or money order services to clients. However, Keep Network has not yet launched any enterprise solutions that would generate revenue for them as they are still working on building out the technology necessary for these features to come online later this year or in early 2018.
Keep Network Token Price History
The chart above shows the price movement of KEEP tokens since their ICO ended on Aug 31st, 2017. The token’s initial value peaked at around $0.01 USD just after it was listed on exchanges, but lost its momentum shortly thereafter breaking below its ICO price within days of its debut.
Afterward KEEP tokens entered a period of relative stability where they would mostly trade between $0.01 and $0.02 for the next couple months until the bear market in cryptocurrencies kicked in, which impacted its value as well as all other coins during this time period dropping it from around $1.9 billion to approximately $470 million at the beginning of February 2018.
The increase in Bitcoin’s price later that month pushed up Keep Network’s value with it back towards its ICO price before climbing above $0.02 on March 9th still showing signs of insecurity due to market volatility affecting both EOS and Ethereum hard forks over the last month or so before finally stabilizing into narrow trading.
How to buy KEEP Network Coin on Coinbase in 4 easy steps
In order to buy KEEP with ETH, you must first have some ETH on your Coinbase wallet. This is a very simple process that can be done in 4 steps:
Sign up for a Coinbase account if you do not already have one Deposit some ETH into your account Buy KEEP tokens Withdraw the tokens to your Keep Network wallet
The first step is fairly self-explanatory and just requires you to enter your email address and password as well as some basic personal information. The second step requires you to verify your identity by uploading a picture of yourself holding an ID card or passport which will allow them to comply with KYC/AML laws.
Step 3 involves depositing some ETH into your account. There are many ways you could go about doing this such as a bank transfer or Coinbase’s GDAX, which charges lower fees.
Finally step 4 involves buying some KEEP tokens with your ETH and withdrawing them to your wallet. This is also a fairly simple process in which you will select the amount of KEEP you want to buy, enter your Keep Network address, and press ‘Buy KEEP’. The next page should show all transactions that have occurred from this transaction including its current value in USD, the total number of tokens purchased, and an estimated time until they are transferred to your Keep Network wallet. If successful the transaction should be immediately posted on Etherscan so you can confirm it was sent properly. I hope these instructions were helpful and you now understand how to buy Keep Network (KEEP)
How to buy Keep Network Coin on Binance.com
Today, I will guide you on how to buy Keep Network (KEEP) from Binance.com. An easy 5-step process for beginners. Enjoy!
1) Register an account at:
(Tip: You can get a free $10 credit when signing up with my referral link above).
2) After logging in, go to the “Funds” page and click the “Deposits Withdrawals” button:
3) In this new page that appears, search for KEEP. The first one is BTC or ETH :
4) Copy your Keep Network deposit address located just below the corresponding currency section. (Ex: Bitcoin Address)
5) Go to your Keep Network wallet, and paste the address you just copied from Binance.com in the “Recipient” field.
And that is it! You have acquired KEEP tokens on your Keep Network wallet. Remember to type in an amount of ETH/BTC to send equal or greater value than KEEP’s price. Otherwise, you will lose money due to transaction fees. And you will want to make sure that your receiving address is correct, otherwise, your transaction might be lost forever. Happy investing!