I've got one and barely use it, but it's my understanding that is something you have actuvely install and optional right?

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Yes, but the technical possibility exist to extract your key which could be exposed by hackers.

And I have read additional info on blocktrainer.de:

Your secret data will be split into three parts and distributed to three different companies. Two parts of this split are necessary to get access to your private data. So you have to trust three companies that they take care of your secret data.