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Does a bought key open only a single crate or multiple crates?

I've known for a while that the price for a key in KF2's PS4 version is a bit high. However, a thought struck me the other day: Does a single key open a single crate, or can it be used multiple times? If the latter, is there a time limit until a key disappears or does it crumble to dust after a few uses? How many uses would that be? And ultimately, is there any point to keeping Crates if you don't plan on spending additional money on this game?

Of course, this information wouldn't be very useful but it has been killing me for a while... along with the Scrakes, Fleshpounds and most of all, the Sirens.

I'm curious. Has anyone bought a key on the PS4 version and if so, what are the answers to these questions?
 
I can tell you right now, I made a post about this b8t its got to be approved just l8ke this response, anyway... the series 1 and 2 cosmetic crates have potentially 40 to 60 items in them. Trust me I know this for a fact as me and a buddy have spent over 200 bucks together in keys...actually it's closer to 300 b7cks ive spent 155 bucks. I've opened the series 1 cosmetic crate 33 times, I've never gotten the Flame tank which is the only item ive ever wanted. On top of that, I've gotten several items Not even listen or shown in the picture. I mean SEVERAL item not even listed. I got am exceptional Player item which was a Rainbow ski mask from the series 1 cosmetic crate for example. That's not even listed as a possible item. I got 3 U.S. Gas masks in a row followed by 3 Devtac ballistic masks in a row... it's such malarkey man. So be careful... and do a lot of hoping when you use a crate key.
 
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