KeepKey is an electronic wallet for cryptocurrency that supports more than 40 different currencies. It is elegantly designed and very easy to use. It still falls short of its main competitor (the TREZOR One & Ledger NX X), but has the same coin support and reputation. Overall, KeepKey remains a solid hardware wallet.
KeepKey, once an independent hardware wallet, was acquired in 2017 by ShapeShift. The hardware wallet firm was acquired, at least in part, to be integrated into the non-custodial ShapeShift Exchange. This exchange allows traders to obtain an extremely high level of security for their crypto assets.
What is a Hardware wallet?
A hardware wallet is a new type of cryptocurrency wallet that was introduced in 2013. A hardware wallet, which is a piece of hardware that stores private keys and is not connected to the internet, is basically what it is. This ensures that your coins are safe from being stolen by remote attackers.
It’s possible to use hardware wallets even with malware infected computers because of how they are designed. TREZOR was the first hardware wallet that saw widespread adoption by Bitcoiners. It had the TREZOR One. Ledger NanoS followed and KeepKey was born. Even though there are many companies manufacturing hardware wallets, these three are still the preferred choice for crypto enthusiasts.
KeepKey Supported Cryptocurrencies
KeepKey’s hardware wallet integrates with MyEtherWallet to support over 1000 crypto assets. The majority of these tokens are ERC-20 tokens. It doesn’t support crypto assets that aren’t ERC-20 tokens. There are many obvious omissions. KeepKey devices can’t store popular altcoins like Ripple or EOS.
KeepKey has several crypto assets.
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- Bitcoin Cash
- Bitcoin Gold (in KeepKey Client)
- DigiByte only available at beta.shapeshift.com
- 1000+ ERC-20 tokens
KeepKey Online Ordering
KeepKey is currently only available online. The hardware wallet is currently only available online at a price of 50,00 EUR. Click here to view the current price. PayPal, cryptocurrency and credit card payments are available. Shipping costs are extra. Customs duties may still apply as the shipment was sent from America. You can still purchase the hardware wallet from one of the authorized resellers worldwide. They also have KeepKey available in their own shops.
The box containing the hardware wallet has a foil-welded lid. A seal covers the lid to prevent any openings in the packaging. This seal doesn’t give 100% certainty but it is a good way to go. The black cardboard box may be opened as a treasure chest. The magnet seals the lid. KeepKey, the hardware wallet, will be revealed. On the inside of the lid, the URL www.keepkey.com/get-started is printed where you can start setting it up. The accessory is found at the second level.
KeepKey Design and Unboxing
First thing you’ll notice about your KeepKey is the excitement of the whole unboxing experience. You can clearly see the care that went into the packaging. The seal ensures that you are the only one to open it, and that your device is secure.
KeepKey’s hardware wallet box has a USB cord to connect the wallet to your PC, a card to help you write your recovery sentences on, and a nice, leather case to protect that card. It might sound ridiculous, but KeepKey’s sleek design combined with digital animation makes using it much more enjoyable that other hardware wallets. The device feels stronger than most of its competition.
It won’t allow you to carry the wallet around in your pocket like a TREZOR, Ledger or Ledger. But, you should remember that this wallet is a hardware wallet and is meant to store large amounts. So, why would anyone want to take it with them? The 2nd screen protection is the same as TREZOR and Ledger. This makes it harder to spy on keystrokes.
How to set KeepKey
KeepKey is very easy to set up and shouldn’t take you more than 10 or 20 mins. The ease of usage is exceptional. It requires that you create an account at ShapeShift in order to access it.
These are the steps that you need to follow in order to set up KeepKey.
- ShapeShift – Sign up
- Pair your KeepKey
- You should update the firmware
- Initiate the set-up
- Transfer crypto to device
This will allow you to see your portfolio, buy cryptocurrency using Banxa or trade on decentralized platforms.
How much does KeepKey cost?
KeepKey’s initial price tag of $239 was very high when it was first released. KeepKey’s original price was $239. The company reduced it to a much lower and more competitive $79 to make it a hardware wallet that is comparable to the TREZOR 1. It can also be purchased through an authorized US reseller and comes with a $99.
KeepKey vs. Ledger vs. TREZOR
KeepKey is priced lower than other major cryptocurrency wallets. This is something most users will notice right away. KeepKey has less brand recognition and trust than Ledger, so it makes more sense to have a lower price. Ledger, on the other hand, offers a range of different hardware wallets that can be purchased at different prices.
It is probably best known for its association avec ShapeShift. However devices from Ledger may also be used with ShapeShift crypto exchange.
KeepKey uses another chip in its hardware, to protect private keys from being stolen. It uses the same chip in TREZOR hardware wallets.
Ledger hardware crypto wallets offer support for many more assets than KeepKey.
There are two security concerns that concern the wallet.
First, a flaw was discovered in the STMicroelectronics card used in TREZOR’s hardware wallet in 2017. This chip is also used by KeepKey devices.
Hacks in 2017 that affected TREZOR and KeepKey devices made it possible to hack a device with physical access. An attacker could gain the backup key associated with a device in just 15 seconds using vulnerabilities in both software and hardware. KeepKey later discredited the claim that it would be simple to receive the seed phrase associated with a hardware device within 15 seconds.
A user may be already in trouble if they lose their hardware device to someone else. KeeyKey believes that the purpose of their devices is to protect users from attacks via the internet.
KeepKey created a gorgeous, user-friendly and well-designed hardware wallet. This wallet is small but very useful. KeepKey has the potential to be the next big thing in Bitcoin. It will have more coins available and be more visible in the Bitcoin ecosystem