Hardware wallets are the safest cryptocurrency wallets out there. Essentially, hardware wallets are physical devices that are not connected to the internet and store your private keys offline.
Hardware wallets allow you to safely store, send, and receive cryptocurrencies. You can use these devices as Bitcoin wallets or store other cryptocurrencies.
As hardware wallets are disconnected from the internet, your funds are secure from cyber attacks. To top this off, hardware wallets have advanced security features to secure your funds from virtual as well as physical hacks.
KeepKey wallet is one of the most popular hardware wallets in the market.
The KeepKey wallet wins in areas like design and price. However, it falls behind its competitors when it comes to cryptocurrency support and security features.
Keep reading, to get an in-depth overview of KeepKey wallet. In this article, I will cover everything from security, ease of use, to public sentiment.
KeepKey Wallet Review At A Glance
KeepKey is a multi-currency hardware wallet that allows you to safely store, send, and receive over 40 different cryptocurrencies. These include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and a few ERC-20 tokens among others. However, KeepKey wallet falls short when compared with its competitors like Trezor wallet. Trezor supports over 1800 crypto assets.
KeepKey beats other hardware wallets in terms of pricing and design.
KeepKey is the most affordable hardware wallet. It is priced at only $49. On the other hand, Trezor One costs $59 while the Trezor model T has a price tag of around $170. Ledger devices too cannot compete with KeepKey in pricing.
While other hardware wallets are relatively difficult to use, KeepKey gets full marks in user-friendliness and design.
The KeepKey wallet has the biggest screen among its competitors. Its wide display allowing you to see the entire cryptocurrency address on the screen without having to scroll back and forth. Don’t worry about scratches, as the screen is protected using polycarbonate casing. Nonetheless, the big screen makes the device a bit bulky.
Also, as KeepKey is now a ShapeShift product, you can easily buy cryptocurrencies directly from the wallet. For those who don’t know, ShapeShift is one of the most popular crypto trading platforms.
Talking about security, KeepKey requires manual authorization of transactions, has a recovery phrase, supports passphrase, as well as requires you to set a PIN code for your wallet. Thanks to all these, KeepKey is widely regarded as one of the most secure hardware wallets. Nonetheless, the company has been lately not pushing regular updates making the wallet comparatively less secure.
Overall, if you are looking for a budget-friendly hardware wallet with a wide display you might want to go with KeepKey. However, I would recommend you to spend some more dollars and buy a Ledger or Trezor to get access to more cryptocurrencies and advanced security.
- Easy to use
- Most affordable hardware wallet
- Allows you to purchase cryptocurrency directly from your wallet
- Largest display among its competitors
- Limited cryptocurrency support
The KeepKey Wallet Review
KeepKey secures your crypto funds from both – physical as well as virtual thefts. As KeepKey is a hardware wallet, it remains disconnected from the internet and thus saves your funds from cyber attacks. Plus, similar to other hardware wallets, KeepKey can be used on any computer, even if the computer is malware infected.
KeepKey provides typical security features found in most hardware wallets. However, when compared to hardware wallets like Trezor, KeepKey falls behind in few security parameters and features.
Here’s an overview of KeepKey’s security features –
Every time you make a transaction you need to manually approve it by pressing the button on your KeepKey wallet. This physical verification ensures that your funds cannot be remotely stolen.
While you set up your KeepKey wallet, your device generates a 12-word recovery sentence that you can use to retrieve your private keys. Thanks to this, even if you lose or break your KeepKey wallet, you can still recover your funds.
You are required to set up a PIN code for your KeepKey wallet. You will require this PIN to initiate transactions. KeepKey switches your PIN code periodically to combat any malware attacks.
KeepKey has a height of 38.0mm, a width of 93.5mm, and a depth of 12.2mm. As discussed, KeepKey has a bigger screen than its competitors. This makes it easy for you to see your transactions on the display without too much scrolling.
Ease of Use
KeepKey wallet is easy to use. All you need is to connect your device to a computer (Linux, MAc, Windows) via a USB port, connect your wallet to the ShapeShift web platform, follow the setup process, and that’s it. You are now ready to make transactions. While you set up your KeepKey hardware wallet, it is recommended that you note your recovery seed.
Earlier, there was a Chrome extension to set up your KeepKey wallet. That has been discontinued. Now, you have to set up and manage your wallet using ShapeShift’s native web platform.
Easily Readable Display
Hands down, KeepKey has the biggest screen among other crypto wallets. The bigger screen helps you at every step from reading instructions easily to checking the wallet address. A wider screen makes it easy to manage your hardware wallet.
Use Your KeepKey Wallet With Other Software Wallets
You can use your KeepKey wallet with software wallets like Electrum and MyCelium.
Buy Cryptocurrencies Directly From KeepKey Wallet
KeepKey was acquired by ShapeShift in August 2017. Thanks to this integration, there’s a built-in crypto-to-crypto exchange within the KeepKey wallet. It implies, you can easily swap cryptocurrencies from within your KeepKey wallet.
With over a lot of positive reviews on Amazon, it isn’t that hard to guess that KeepKey is a crowd favorite. With its intuitive range of features and great design, it has managed to sneak past the competition into people’s minds. Most of the positive reviews you will see will focus on the great design, readable display, and ease of use.
However, Trustpilot reviews paint a different picture. Most of the KeepKey reviews on Trustpilot are negative.
Considering there are mixed reviews floating online, it is recommended that you do your research to decide whether or not you should purchase KeepKey.
KeepKey is a clear winner when it comes to design, user-friendliness, and price. It has a bigger screen making it easy to use and comes at an unmatched budget-friendly price.
Nonetheless, the KeepKey wallet falls way behind in terms of the number of cryptocurrencies supported. It supports only over 40 crypto assets while its competitors like Trezor wallet offers support to over 1800 cryptocurrencies.
In short, if you are tight on budget and wish to make yourself familiar with hardware wallets you can go with KeepKey wallet. However, if you want more cryptocurrencies support with better security features you might want to go with other hardware wallets such as Trezor.
Can I use KeepKey wallet with my android phone?
Yes, you can use KeepKey wallet with your Android and iOS smartphone using an OTG adapter cable.
However, KeepKey does not have a native mobile app. To use KeepKey wallet on your mobile, you have to download the MyCelium app from the Google Play Store or the Apple App Store.
Make sure your smartphone is OTG compatible. If your smartphone is unable to connect to KeepKey via an OTG cable, you won’t be able to use KeepKey wallet on your mobile.
How many wallets can I create on the KeepKey wallet?
You can create an unlimited number of wallets using KeepKey hardware wallet.
KeepKey wallet supports BIP32 wallets. Thanks to this, KeepKey can create and store an unlimited number of private keys. Plus, KeepKey also supports the BIP44 standard allowing the wallet to organize accounts. In short, KeepKey wallet supports an unlimited number of private keys and unlimited number of accounts.
Hektor was first introduced to Bitcoin back in 2017 when one of his clients paid him in Bitcoin. This got him curious and he started exploring services and products related to Blockchain and Cryptocurrencies. He started Bitcongress so that he could share his findings through in-depth guides on the platforms.