KeepKey Wallet Review

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KeepKey is one of the leading hardware wallets, only rivaled by popular names like Trezor One and Ledger. ShapeShift currently owns the wallet, but it has been through a fair number of acquisitions before ShapeShift took full ownership. The wallet utilizes advanced technology, including ShapeShift’s own platform, to prevent the theft of digital assets and allows direct exchanges.

Darin Schatfield, a Seattle-based manufacturer, produced KeepKey back in 2015. In 2016, KeepKey partnered with ShapeShift, integrating the latter’s platform into the wallet. ShapeShift is an open-source platform that allows users to buy, sell, trade, and earn crypto at their convenience. A year later, ShapeShift took over KeepKey to become the current owners. This acquisition was testament to both companies’ commitment to privacy and security for wallet holders. Part of the acquisition agreement involved KeepKey maintaining its brand and product range, which helped maintain continuity and cohesiveness despite the acquisition.

Notable Features

The fact that KeepKey is a hardware wallet is a notable feature in itself. You don’t have to worry about hackers stealing your digital assets, and it’s also immune to malware that could wipe your entire cryptocurrency cache. Additional notable features of KeepKey include:-

Multiple-Coin Support:

As mentioned earlier, KeepKey supports 40 different cryptocurrencies. However, this is still a far cry from what wallets like Trezor One can support (1000 plus). Some popular coins supported by Kepkeey include:-

• Bitcoin
• Bitcoin Cash
• Bitcoin Gold
• Ethereum
• Dash
• Dogecoin
• Litecoin
• More than 1000 ERC-20 tokens
• XRP

When you compare KeepKey’s 40 supported coins against Trezor One’s 1000 plus supported coins, you might be quick to dismiss the former. However, since most people only use major coins, it’s safe to say that this isn’t such a huge pain point.

PIN Protection:

KeepKey’s PIN is its first line of defence, since you have to enter it to unlock the wallet. However, the pin doesn’t work like conventional PINS. Instead, it displays a randomized 9 by 9 grid of digits, which shuffles every time you unlock the device. This makes it harder to crack than traditional pins. You can have as many as nine figures in your PIN, but some prefer to keep it short and sweet. You can connect KeepKey to your computer, but not the internet. To do so, you’ll have to plug in the wallet via a USB cable. The grid will be displayed on your computer screen, but not with the figures. Instead, you’ll see plain white dots on the grid boxes. Click on the boxes that correspond to the figures on the grid, and voila! You’re connected.

If you enter an incorrect pin more than a couple of times, you’ll be hit with a 4-second delay. Enter the pin incorrectly again and the delay time doubles. It’ll keep doubling until you enter the correct pin. Note that you have to enter the PIN every time you make a transaction.

Recovery Pass Phrases or Seed Words (BIP39):

Passphrases are like passwords, but instead of a series of letters and words, it’s a phrase or complete sentence. When you lose your private key, you can use the recovery passphrase to access all your crypto. KeepKey wallet adopts the BIP39 standard to keep a backup of your cryptocurrency from the get-go. This lays out how cryptocurrencies generate seed phrases and encryption keys. It ensures randomization of the seed words and creates too many permutations for hackers to use brute force to hack the wallet. The wallet also comes with a recovery card, but this may not be the safest way to recover your wallet. You’re better off with the passphrases rather than a paper card that’s easy to lose.

Anonymity:

All KeepKey users remain completely anonymous. You don’t have to enter your address, name, or phone number to use the wallet. Neither are you required to share any KYC documents with the company, plus since all payments are crypto to crypto, you’ll never get to share your credit card details with the crypto wallet company.

Sleek Stylish Design:

KeepKey comes in a pocket-friendly size. However, the sharp edges might be a little too poky for some. Its dimensions are 0.23 by 0.11 by 0.06 inches and it weighs 1.88 ounces, or 53.3 grams. This is larger than most wallets, but you can still easily slip it into your pockets and carry it everywhere you go.

KeepKey wallet sports a modern two-tone combination, consisting of a black almost satin-like plastic and a metallic finish. It’s both sleek and stylish and will most definitely complement your other devices. The only downside to the glossy plastic is that it’s a magnet for scratches and fingerprints. Unless you’re extra careful with it, it could lose its visual appeal in a matter of weeks.

ShapeShift Integration:

ShapeShift is arguably KeepKey’s most notable feature. As mentioned earlier, Shapeshift is a platform that allows seamless cryptocurrency exchanges and crypto management. With ShapeShift’s integration, you can expect to swap and exchange a great variety of crypto assets from the hardware device without exposing your private keys the risks of online trading.

QR Availability:

This means you can transfer cryptocurrencies by scanning a QR code. Not exactly breakthrough technology, but still worth mentioning.

Services Offered

Storage:

The primary function of KeepKey is to provide storage for your cryptocurrencies. The wallets allow crypto holders to store their coins offline. This means the wallet is completely immune to hacking and malware infection.

Offline Backup:

Keepkey provides a safe and secure place to backup all your crypto outside of the internet. You can store 40 cryptocurrencies. You can also request storage of non-supported cryptocurrency via the Assets Request Form and ShapeShift will look into it.

Cryptocurrency Transfer:

KeepKey lets you send and receive crypto from other addresses. The sending procedure is relatively straightforward but Shapeshift charges a fee for all transactions. However, since the wallet comes integrated with ShapeShift out the box, transactions are seamless.

Wallet Support

Customer support is a major factor to consider when choosing a crypto wallet. No wallet is perfect, and you’re bound to encounter a few hitches during regular use. Thankfully, most wallets have 24/7 customer support to answer any queries and listen to complaints.

With KeepKey wallets, you can reach their customer support via:-

• support@KeepKey.com
• (855)463-8550
• Mailing 12034 134th Ct NE, Suite 103. 98052. Bothell. United States

You can also find help directly via the support page by simply opening a ticket. We encourage you to follow connect with Keepkey via social media to be the first to be notified about the latest changes and news. Follow the links below.

KeepKey Security – Is It Safe?

First, KeepKey is a hardware wallet, which is a security feature in itself. However, the primary KeepKey security features include:

• Randompad number grid: Keepkey’s PIN grid is designed to make it harder for hackers to crack. With a random keypad, hackers will have to run through too many permutations to crack the code. This precludes them from accessing your digital assets.
• Seed words: KeepKey utilizes 12 seed words that follow the B139 standard for recovery. This will come with your KeepKey and will form the second layer of security in case of damage, theft, or loss.
• Pass Phrase: In addition to the seed words, you can string your own sentence to act as a recovery security layer. This is a random sentence you come up with that you enter when recovering your cryptocurrencies.

KeepKey Wallet Review – Pricing and Fees

Keep key charges transaction fees for all transactions. The amount charged depends on how fast you want to complete the transaction. You have three main options: fast, medium, and slow. The faster the transaction, the more you’ll have to pay.

How Much Does KeepKey Cost?

When it first came out, KeepKey was a staggering $239. However, the company had to lower its price to keep up with the competition. Right now, you can buy KeepKey on Amazon for a paltry $44. However, some places sell it a bit higher, but it should fall within the $40 to $50 range. This is much cheaper than most other cold wallets. Here’s a brief summary of other hardware wallet prices.

• Trezor One- $59
• Trezor Model T- $159
• Ledger (Nano S)- $59
• Ledger (Nano X)– $119

Clearly, KeepKey is the most affordable of the bunch. However, the advanced Trezor Model T and Ledger Nano X offer more value for money. Still, if you’re on a tight budget, you can’t go wrong with the KeepKey.

Supported Tokens

KeepKey has native support for 8 cryptocurrencies and over 30 ERC-20 tokens. Some of the popular cryptocurrencies it supports include:-

• Bitcoin
• Ethereum
• Bitcoin Cash
• Bitcoin Gold
• Dogecoin
• Dash
• Litecoin

Bitcoin maximalists and crypto investors with a handful of cryptocurrencies should have no issue with the limited coin support.

How to Setup a KeepKey Wallet?

The KeepKey product details are as follow:-

Dimensions:

• Length- 3.68”
• Width- 1.50”
• Height- 0.48”

Screen size: 3.2”

Materials:

• Polycarbonate front
• Anodized aluminum casing

Inside the box you’ll find:-

• The KeepKey wallet
• USB cable (woven nylon)
• Recovery backup card

Take out the device and turn it on using the button on the right. Here’s how you set up the KeepKey Wallet.

On Your Desktop

1. Head over to the ShapeShift website and click on Products then Keepkey.
2. Plug the wallet into your computer using the USB cable.
3. Follow the on-screen prompts.
4. Enter your KeepKey PIN and confirm it.
5. You’ll receive your recovery passphrase.
6. Write the passphrase or seed words on your phone or notebook.
7. Press and hold the confirmation button to finalize the setup process.

On Your Android or iOS Device

It’s possible to use KeepKey with your Android or iOS device. First, you’ll have to download the Mycelium app from the Apple Store or Google Play Store. Mycelium is a third-party smartphone app that allows users to store, transfer, and trade cryptocurrencies. However, it only supports a limited number of cryptocurrencies. The coins are:-

• Bitcoin
• Ethereum
• Tether
• USD
• USD coin
• Houbi Toke
• Zero X
• Binance USD

You’ll also need an OTG adapter cable to connect the device to your smartphone. Phones that don’t support OTG adapters can’t use KeepKey. To connect KeepKey with your smartphone:-

1. Download the Mycelium app on your smartphone.
2. Open Mycelium on your smartphone.
3. On the top-right corner of your phone screen, tap the “add new device” button.
4. Tap “advance” on the next screen, and then tap on the “KeepKey” option.
5. Plug the OTG cable into both your wallet and smartphone.
6. Allow the USB device access by tapping “allow” on the prompt on your smartphone.
7. Enter your KeepKey PIN on your smartphone.
8. This should add your account to the Mycelium app, and you’re good to go.

Tap on the account and you’ll find details about your balances, address, and also buttons to transfer and receive cryptocurrency. As mentioned earlier, Mycelium only supports a handful of crypto coins. You might be better off connecting keepKey to your PC instead

Wallet Alternatives

KeepKey is facing stiff competition from multiple competitors. If the wallet doesn’t sit right with you, you can consider any of its alternatives, including:

Most of the above-mentioned coins have an edge over KeepKey because they support more coins, with some supporting 1000 plus coins. Wallets like D’Cent Biometric wallet have better security.

KeepKey Vs. Trezor One

Satoshi Labs released the Trezor One cold wallet on July 29th, 2014. It’s among the leading hardware wallets today, both in terms of sales and popularity. But how does it stack up against the KeepKey wallet?

In terms of design, TrezorModel One is much smaller than KeepKey, measuring only 2.4” by 1.2” by 0.1″, and weighs only 12 grams. KeepKey, on the other hand, measures 3.68” by 1.5” by 0.48,” and weighs 53 grams. Trezor One Wallet clearly takes the cake when it comes to size and ease-of-carrying. But Keepkey is easier to use because of the 3.2” display that allows you to see the address without scrolling.

When it comes to supported coins, the Trezor One supports 1000+ coins, including ERC20 coins. KeepKey only supports 40 coins. Once again, the Trezor Model One takes the cake here. Also, Trezsor One connects to both Android and iOS smartphones seamlessly. With Keepkey, you’ll need to download Mycelium to connect to your smartphone. Both KeepKey and Trezor One have PINs for their first layer of security. However, unlike KeepKey, Trezor One doesn’t have a randomized grid for the PIN. This gives KeepKey an upperhand. However, Trezor One has a seed phrase recovery option like the KeepKey wallet.

KeepKey Wallet Vs. Ledger Nano S

Another hardware wallet giving KeepKey a run for its money is Ledger. Ledger measures 2.83” by 0.73” by 0.46” and weighs 16.2 grams, making it smaller and lighter than KeepKey, which measures 3.68” by 1.5” by 0.48,”and weighs 53 grams. Most people prefer the smaller-sized hard wallets, which gives Ledger the edge. However, it lacks the large-sized 3.2” display that KeepKey has.

Ledger supports more than 1,800 coins, compared to Keepkey, which only supports 40 coins. Both offer seamless coin transfer, and using the wallets is a walk in the park. However, Ledger allows Bluetooth connectivity, unlike KeepKey. What’s more, it allows easy smartphone connectivity (Android and iOS) through the Ledger app. With keepKey, you’ll need Mycelium.

For security, the ledger nano S uses a CC EAL5+ certification dual chip architecture chip for cryptographic operations. You’ll also need to enter a 4 digit pin every time you use the wallet. Keepkey’s digit capable PIN with a randomized number grid is more secure. Both use passphrase recovery in case of damage or loss.

Keepkey sports a 3.2” display that shows details about your account. The Ledger Nano S, on the other hand, has no display. This can be an inconvenience, but isn’t a deal breaker for most people. Both wallets are classy-looking with their metal finishes.

How Private Is the KeepKey Wallet?

KeepKey is a cold wallet , which automatically makes it more secure and private than software wallets. There is no typical sign procedure where one is required to share their name and KYC details. The safety of the wallet also makes it private. The gist of its security comes from the randomized grid for inputting your PIN. The grid makes it super difficult for hackers to crack your PIN since there’ll be too many permutations to input. Unless they have a quantum computer, cracking the code is near impossible.

Who Is the KeepKey Wallet For?

The KeepKey wallet is a top-tier cold wallet with plenty of versatile features and unmatched security. This hardware wallet is best for

• Security-conscious crypto holders with considerable digital assets
• Anyone looking for an affordable , easy-to-use hardware wallet
• Crypto investors that are looking for a wallet that supports the most popular cryptocurrencies

Who Will Benefit Most From Using It?

While the KeepKey certainly boasts excellent features and unparalleled security, it might not be for everyone. If you’re looking for a wallet that you can take everywhere, you’re better off with the Ledger Nano S or Trezor One. KeepKey is simply too bulky to carry around everywhere you go.

However, if you’ve invested a lot in your cryptocurrencies, then KeepKey is just what the doctor ordered. With bulletproof security features, you don’t have to worry about hackers making away with your entire investment. But security aside, the wallet is also great for people looking for an easy to use wallet to store and transfer crypto. The display makes it easy to check all your crypto information without logging into your PC or smartphone.

Who Might Not Benefit from Using It?

If you like using your smartphone for sending and receiving crypto, you’re better off with Ledger. That’s because with KeepKey, you’ll have to install third-party software, which may be an inconvenience to some. What’s more, if you want seamless and prompt customer service, you might want to look the other way. Customers have been complaining about Keepkey’s lacklustre customer service, which has left many frustrated. Of course you might not get a chance to use KeepKey if your under the budget too.

KeepKey Wallet Review: Final Thoughts

It’s easy to see why KeepKey is a popular wallet in most cryptocurrency spheres. Visually, it’s lovely to look at with its sleek finishes and quality build, and the impressive packaging is definitely a plus. However, its bulky size may be a turnoff to some people. With the wallet’s robust security features, you can rest easy if you store your crypto in the wallet. The biggest pain point is the limited coin support, supporting only 40 coins. However, the Asset Request Form means that ShapeShift is always looking to expand the wallet’s coin support.

Is the KeepKey Wallet Worth It?

At only $49, the Keepkey wallet is definitely worth it. For less than $50, you get top-of-the-line security and the ability to store 40 different types of cryptocurrencies, including all of the popular ones. KeepKey has a one year limited warranty for production defects, malfunctions, and other types of damage. Plus, with an in-house platform, you can resolve any issues with your wallet ASAP without reaching out to other third parties. Buy yourself a KeepKey wallet today. You won’t regret it.

KeepKey Wallet: The Highlights

• Sleek and elegant design
• Large 3.2” display
• Randomized number grid for PIN
• ShapeShift integration
• Affordable price

KeepKey Wallet: The Lowlights

• Only supports 40 cryptocurrencies
• Requires third-party software for smartphone connection
• Bulkier than other cold wallets
• Less-than-stellar customer support

KeepKey Wallet: The In-Between

• Passphrase recovery support
• Open source platform
• Multi-currency support
• Decent portability

How to Use a KeepKey Wallet?

Sending Crypto on Desktop

Sending cryptocurrencies with KeepKey is also a breeze. All you need to do is

1. Head over to ShapeShift’s website.
2. Click on the “send” button on the top-left of your screen.
3. Click on the cryptocurrency you want to send.
4. If you can’t find the cryptocurrency, search for it by entering it in the search bar on top.
5. Enter the sender’s address and the amount, then click “continue.”
6. Confirm the details, then click “send.”
7. Confirm the details, then click “send”.

Receiving Crypto on Your Desktop

1. Log into ShapeShift’s website.
2. Find or search for the crypto you’re looking for, just like when you send crypto.
3. Click on the cryptocurrency and then click on “next.”
4. Check your KeepKey address and confirm that the address on its screen matches the one on your computer.
5. Copy the address and send it to the person sending you the crypto.

Sending Crypto on Your Smartphone (iOS and Android)

1. Connect your smartphone to KeepKey using an OTG cable.
2. Open the Mycelium app.
3. On the top-left corner of your screen, tap “accounts.”
4. On the list of accounts, tap on your KeepKey account.
5. On the next screen, tap the “send” button.
6. On the next screen, you’ll find a few sending options.
7. These options are “manual entry,” “scan QR Code,” “My Addresses,” and “Euro Payment.”
8. After selecting an option, pick a crypto, then enter the amount to send.
9. Entering the amount will show you the miner fee.
10. If you’re okay with the fee, tap “send” and enter your pin.
11. Hold the button on your top-right to confirm the details, and you’re done.

To receive crypto, follow the previous steps until you reach the send and receive screen.

1. On the send and receive screen, tap the Receive button.
2. Pick one of the options, then enter the amount you want to receive.
3. Enter your address and tap “receive.”
4. Check the transaction details on your KeepKey.
5. Confirm the details on your KeepKey by holding the top right button and you’re done.