KeepKey

Written By
Deniz Saat
Reviewed By
Ari Ramdial

KeepKey is one of the most preferred hardware wallets for storing Bitcoin. KeepKey is user-friendly and feature-rich. Read our detailed review to learn more about the KeepKey wallet.

Overview

One of the top three hardware wallets.

Holds multiple currencies and ERC-20 compatible tokens.

User-friendly display and interface.

Overall Rating
  • Features
  • Ease of Use
  • Security

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Who are they?FeaturesCurrencies SupportedHow does it work?Is it Safe?ProsConsFAQ

Who are they?

KeepKey is a hardware wallet that stores and manages user cryptocurrencies offline. It was founded in the year 2014 by entrepreneur Darin Stanchfield. Based in Seattle, it is a fast-growing crypto assets security firm. The KeepKey hardware wallet is one of the most secure, convenient, and easy-to-use hardware wallets available on the market today. The device is slightly bigger than other hardware wallets and has an OLED screen display to verify and authenticate transactions with ease. The display screen allows users to see the full cryptocurrency address without scrolling back and forth. The larger screen offers a better interface and user experience when compared to other hardware wallets. It has a premium design and is considered among the better-looking hardware wallets. The Keepkey wallet supports multiple coins and digital tokens. It is also compatible with various software wallet services.

The device comes in a small tamper-proof yet premium package with a KeepKey seal for security. Inside the package, you will find the following:

  • KeepKey hardware wallet device.
  • A USB to micro-USB cable.
  • Recovery cards.
  • A leather case to hold the recovery phrase card.
  • An installation manual.

Features

  • It has a large display screen for easy use.
  • Premium look with a metallic finish and highly durable.
  • Lower cost but feature-rich when compared to other hardware wallets.
  • Supports multi-currencies and digital tokens.
  • ShapeShift, a crypto exchange platform, is integrated into the device. Users can exchange their assets from their KeepKey wallet using ShapeShift.
  • It is a great hardware wallet for beginners and first-time users.
  • The wallet interface is sleek and easy to navigate through.

Supported Currencies

The KeepKey wallet supports more than 40 cryptocurrencies and digital tokens, including the most popular ones like:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Dash (DASH)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Aragon (ANT)
  • Augur (REP)
  • Basic Attention Token (BAT)
  • Civic (CVC)
  • District0x (DNT)
  • FunFair (FUN)
  • And many more...

How does it work?

Here is a step by step guide to install the KeepKey wallet:

  1. Download and install the KeepKey Client App from the Chrome Webstore.
  2. Plug in your KeepKey device to the computer using the USB to micro USB cable.
  3. Launch the App and initialize KeepKey to begin the set-up process.  
  4. Create a 1–9 digit PIN that will unlock your device.
  5. Set your PIN.
  6. Write down the Recovery Phrase. This is a 12, 18, or 24 word phrase that must be written down in sequential order and stored safely.
  7. Complete initialization and your device is ready to use.

How to send and receive cryptocurrency on your KeepKey wallet:

  1. A Bitcoin account is installed by default on the KeepKey wallet after initialization. It is used for sending and receiving Bitcoins.
  2. To add other cryptocurrency accounts, select the “Add Account” on the bottom-right of the app’s interface.
  3. Select your desired cryptocurrency and then add the account.

Is 

KeepKey

 safe? 

  1. KeepKey stores your private keys separately in an offline environment. This feature ensures that the device is unaffected even if your computer is infected with a virus.
  2. The device is protected by a PIN code and is backed up with the 24 word recovery seed phrase. Additionally, the wallet has RNG (Random Number Generator) implemented to prevent hackers from stealing your cryptocurrencies by using malware.
  3. The RNG determines the placement of the numbers on the device screen. It helps to ensure that even if your computer is compromised, the crypto assets on the device are secure.
  4. The KeepKey wallet also has an optional feature to enable a passphrase which acts as a 13th, 19th, or 25th phrase for an added layer of security. This passphrase will create a 'hidden wallet' that may only be accessed with that passphrase and the PIN.
  5. The passphrase option is recommended for experienced users because it cannot be recovered or reset without the extra phrase. It is important to have multiple backups of the passphrase and recovery seed written down.  

Pros of 

KeepKey

  • It supports multi-currencies and digital tokens.
  • It has a sleek design and easy to use interface.
  • Highly secure because the private key is generated and stored offline.
  • It is made of durable anodized aluminum.
  • It is integrated with ShapeShift, which provides a convenient option for trading.
  • Pricing is competitive when compared to other popular hardware wallets.

Cons of 

KeepKey

  • It is not highly portable due to its bigger size.
  • It supports fewer coins compared to other popular wallets.

FAQ

1. Is it safe to store my Bitcoin in the KeepKey hardware wallet?

The KeepKey hardware wallet stores your private keys offline. This feature means that your crypto holdings will be unaffected even if your computer is hacked or infected with a virus. The wallet is protected by a PIN and is backed up with a 24 word recovery seed phrase. Users also have the option to use a passphrase for additional security. ‍

2. Is the KeepKey wallet open-source?

KeepKey's firmware is 100% open source.

3. Which operating systems support KeepKey?

KeepKey is compatible with Windows, Mac, and Linux. The KeepKey Client app is available via Google Chrome on every platform.‍

4. What differentiates KeepKey from a USB device?

When a USB drive or memory card is inserted into a computer, the computer can access everything stored on it. But when the KeepKey wallet is plugged into a computer, it communicates using a limited protocol. It never reveals the private key. ‍

5. What happens when my KeepKey wallet is lost, stolen, or broken?

In the event that your device is lost, stolen, or broken, you may use your 24 word recovery seed to restore all funds. Also, when you have a strong PIN enabled, it makes it much harder for others to access the funds on the device.

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WRITTEN BY
Deniz Saat
Deniz Saat is an IT services specialist and technical writer.
REVIEWED BY
Ari Ramdial
CEO of Rhodium Labs

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