Magnetizer/demagnetizer, magnetizes & demagnetizes screwdriver tips & bits using powerful rare earth magnets, single swipe operation, fits most screwdrivers including precision screwdrivers, 1/4 slotted, #2 phillips & #3 phillips, attaches to tool bags or backpacks with the included stainless steel key ring, no batteries required, to magnetize: insert screwdriver fully into magnetizing slot, avoid rotating the shaft while drawing out slowly, to demagnetize: insert screwdriver fully into demagnetizing slot, avoid rotating the shaft while drawing out slowly.