Keepkey Review

The KeepKey wallet is a physical hardware wallet which is used to store the world’s leading digital assets.
It comes with some advanced security which should protect it from physical and virtual theft.
It used to be expensive when it was first introduced, but now it has fallen in line with many other wallets, but is price alone enough to justify the purchase?

KeepKey wallet

Features and Benefits

With the HD (Hierarchical Deterministic) designs, your KeepKey hardware wallet can be looked at as a small computer which has been designed to store all of your private keys.

With this, you can create an unlimited number of “private keys” as you wish.

One very handy feature the KeepKey wallet has is the ability to convert and trade Bitcoin with other coins from inside your wallet.

KeepKey Features and benefits

The device was acquired by the well-known Shapeshift who first introduced this feature, and means you can make trades with no need of creating an account on an exchange.

Pros

  • The device comes with top-notch security and makes it virtually impossible for viruses to work their way onto the device or hackers to steal any of your private keys.
  • The KeepKey wallet offers the same security features as the more established products, such as the TREZOR wallet.
  • The wallet has an attractive and professionally designed OLED display which makes the wallet much easier to use than similar products in the same range.
  • You have access to the world’s leading cryptocurrencies.
  • The new lower price offers excellent value for money with top end security.

Cons

  • The device doesn’t include a web wallet, which means users must add secondary software such as Electrum or MultiBit which can make use of the device’s applications.
  • The device is on the larger size, and this makes it less portable than other hardware wallets, which can quickly and comfortably fit into your pocket.
  • The setup procedure is relatively straightforward, but users aren’t allowed to save their progress.

Supported Coins

As you would expect from any top class hardware wallet, there is support for the following cryptocurrencies:

  • Bitcoin
  • Ethereum
  • Litecoin
  • DogecoiNamecoin
  • Dash
    Since all of these coins were supported from the beginning, it is nice to see KeepKey Bitcoin Cash has been added to the coins which can be stored.

Design

The KeepKey wallet design is straightforward and looks somewhat rectangular in shape compared to others wallets on the market.

This, however, shouldn’t detract from its features. It has been designed with the purpose being the top of the priority list, and with security, it doesn’t disappoint.

It can be used on any computer, and such is the security, it can even be used on one which is infected with malware, not that you would wish to.

The entire wallet can be backed up using the 12-word string which is created at the set-up stage.
This 12-word seed is the default. However, the KeepKey allows for either 18 or 24 words seeds to be generated.

The seed is created using entropy from the device and the computer which is used for set-up.

The seed will be generated off-line on the wallet and displayed on the screen, and as an added security precaution, it is never displayed on a device which is connected to the internet.
If you should lose your device or it is damaged, you can quickly recover the data using the KeepKey Chrome extension.

KeepKey Vs. TREZORKeepKey Vs. TREZOR

The designs of the KeepKey Vs. TREZOR is very different, and the KeepKey offers a higher quality finish being finished in aluminum rather than plastic.

With this in mind, the TREZOR might survive being dropped due to the lighter weight.

The Keepkey looks very different on the outside, but on the inside, the KeepKey stems from a port of the code and firmware of the TREZOR.

KeepKey Vs. Ledger Nano SKeepKey Vs. Ledger Nano S

When you compare the KeepKey Vs. Ledger Nano S, they look very much different. The Ledger seems very similar to a USB drive when folded, and is better to slip into your pocket and appear inconspicuous while out and about.

The Ledger Nano S supports more coins and comes in around $30 cheaper, but in use, it might be more difficult for new users because of the tiny screen.

The KeepKey does also allow for the firmware to be updated much easier, and is a one button approach rather than two of the Ledger Nano S.

Apart from form factor and design, the differences are negligible, and choice comes down to personal preference.

Pricing

When the device was first launched back in 2015, it was available for $239 which was on the more expensive side.

Now the price has been lowered to a more friendly $99 which blends itself into the market against others of the same amount. Now though the device comes with more coin support, and also extra features.

It can work out slightly more expensive than some Bitcoin hardware wallets, but with the extent of KeepKey supported coins, and security, the extra cost is more than justified.

Final Verdict

For a product which is of premium design and is constructed from aluminum and polycarbonate. The KeepKey can be an excellent wallet for anyone who usually makes all their transactions from behind a desk.

You can quickly make all your transactions via the Chrome extensions which are then passed along the blockchain to the other party which is involved.

With the ease of use and top of the range security, this hardware wallet is as secure as any paper wallet but much easier to set-up and maintain.

There are also only 2 verified vendors of the device which is direct from the KeepKey website or from Amazon, so this adds an extra element of security, and any other place of purchase should be avoided.

Overall it is a functional device which when you connect it via the braided USB cable, it just works, and from the get-go, it provides you with the highest levels of security.