KeepKey Review and In-Depth User Guide
KeepKey is one of the three most popular cryptocurrency hardware wallets, along with the TREZOR and Ledger Nano S. All of these devices allow users the ability to store their private keys securely offline, rather than on computers susceptible to malware. Hardware wallets, like KeepKey, are widely considered to be the safest and most practical way to store cryptocurrencies.
First produced in 2015, KeepKey has a solid track record and many satisfied customers. Once the device is set up, you can access your cryptocurrency at any time by plugging the KeepKey into your computer and entering your PIN.
In this KeepKey Review, we’ll cover:
- Ease of Use
- Supported Cryptocurrencies
- In-Depth User Guide
- Review Summary
In our opinion, KeepKey’s large OLED screen (256*64 3.12) makes it the best looking hardware wallet. The aluminum case and polycarbonate front also makes the device feel rather sturdy. Chances are it should be fine from normal wear and tear, like falling off your desk. Significant force however, is likely to break the device.
Like the Trezor, we found the KeepKey to be very easy to set up and use, especially compared to the Ledger Nano S. It’s worth noting that the wallet app requires you to have Google Chrome installed on your computer. As shown in the user guide below, initial set up can be completed in just a few minutes.
The hardware wallet can easily be used daily, only requiring you to plug the device into your computer and accessing it’s accompanying Chrome App.
As mentioned at the start of this review, KeepKey stores your private keys offline on the device. A PIN code is required to use the KeepKey. The device can then be used to access your wallets and sign transactions, without exposing your private keys to your computer.
You can backup your private keys at initialization by writing down the provided 12 word recovery phrase. This can be used to recover your funds on a new KeepKey device or any wallet that supports BIP39 and BIP44.
KeepKey currently supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, and Dogecoin. Note that KeepKey does not currently support Ethereum ERC-20 tokens (while Trezor and Ledger do), but plans to add support for them in early 2018. While this is sufficient for many cryptocurrency investors, it’s far more limiting than their competitors. The Ledger Nano S in particular supports far more cryptocurrencies.
KeepKey retails for $129, making it the most expensive of the three popular hardware wallets. Considering its limited features and supported cryptocurrencies, you’re paying extra for the styling.
- KeepKey Hardware Device
- Micro-B USB Connector
- Recovery Seed Sheet
- Warranty Information
When you open the box to your KeepKey, you’ll see the URL www.keepkey.com/get-started.
On KeepKey’s “Get Started” page, you’ll see a list of simple instructions.
To set up and use the KeepKey wallet, you’ll need to have the Google Chrome browser installed on your PC. KeepKey uses a Google Chrome App to allow the hardware device to interact with cryptocurrency networks.
Once the app has been installed, click “Launch App”. In the future you can launch the app from your operating systems menu or by typing “chrome://apps” into your chrome browser and clicking on the app logo.
You’ll most likely see the notification “Firmware update available” after launching the app.
Plug in the hardware wallet, while simultaneously holding down the button on the device. You should see an update notification on your computer.
Next you’ll likely see a message, “On your KeepKey, confirm you have access to the backup of your recovery sentence”. While relevant in the future, we haven’t yet been able to initialize the device, so we haven’t been able to generate our recovery seed. Continue by pressing the button on the device.
The firmware update should begin.
Once the update is complete, you’ll need to reconnect your device.
After reconnecting the hardware wallet, you’ll be able to “Initialize KeepKey”.
Name your device.
Create the PIN code for your device. This will be used to access your device in the future, so be sure to remember it or to write it down in a safe place.
Next you’ll need to write down your 12 word KeepKey recovery seed. This can be used to regain access to your cryptocurrency if your KeepKey is damaged or lost. Be sure to keep this in a safe location.
Now that your device is set up, you can send and receive Bitcoins. Click the “Receive Bitcoin” button to generate a Bitcoin address.
Click “Add Account” to create a Litecoin, Ethereum, Dash, Bitcoin Cash, or Dogecoin wallet.
You’ll then see both accounts available in your KeepKey software app.
The KeepKey is a stylish and easy to use cryptocurrency hardware wallet priced at $129. Considering it supports less cryptocurrencies than the Trezor and Ledger Nano S, while not adding any significant features, it does feel like your primarily paying for the design of the device.
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