An In-Depth Look at the Keepkey Cryptocurrency Hardware Wallet

Neutral An In-Depth Look at the Keepkey Cryptocurrency Hardware Wallet

Keeping cryptocurrencies safe is a fundamental part of participating in the digital economy, and hardware wallets have become popular security solutions. These days there is a slew of devices on the market, each with its own options and features. One of these is the Keepkey wallet, a product that's been well received by digital currency investors over the last three years. Also read: A Review of the Swiss-Made Digital Bitbox Hardware Wallet

The Keepkey Hardware Wallet

Earlier this week I took a look at the Keepkey hardware wallet, a device that allows users to store multiple cryptocurrencies in a secure fashion. Keepkey is sold for US$129 per device, which is more expensive than the Ledger Nano, Coolwallet S, and Trezor One. Nevertheless, the small rectangular device is more pleasing to hold and the screen looks very nice when the Keepkey is operating. The case the Keepkey comes in is packaged well and resembles an unopened Apple product. Keepkey, Coolwallet, and the Ledger all have well-packaged boxes compared to the Trezor One packaging.

The black Keepkey box is sealed in plastic wrapping and when removed there's also a piece of tamper-resistant tape holding the box closed. After inspecting the tape and making sure the box has not been opened previously, a knife is needed to cut the tape's seal. Inside the box is a Keepkey, a 12-word seed card, a USB cord, and some warranty information. The Keepkey has a plastic anti-scratch film laid over the device's screen and is encased in black foam. Keepkey's large OLED screen is pleasing to look at and is probably one of the device's best features. After opening the Keepkey, I headed over to the company's Getting Started page and downloaded the Keepkey application for Google Chrome. Keepkey only works with Chrome, but it's the same with most hardware wallets now.

Connecting to Chrome and Initializing the Seed

After installing the application to Chrome, the platform asks you to plug your Keepkey in to get started. Immediately after initiating the Keepkey it required a firmware update and would not start the process of initiating a seed until the firmware was downloaded into the device. Removing the USB cable from my Keepkey was an uncomfortable feeling and it took a bit of force to insert and remove the cord compared to other devices. Ledger Nano is probably the best as far as connecting the cord, with the Trezor One following behind because my Trezor device has always had a weird connection feeling as well. However, after using the USB connection a few times with the Keepkey, connecting was easier and got much more comfortable to insert over time.

Moving on, the Keepkey begins by initiating a new device name, seed and PIN. The program makes you double check the PIN twice and then asks you to write down the seed phrase, which is located on the device itself. Unlike other hardware wallets, the Keepkey does not require you to double check the 12-word phrase. After this process, you are granted access to the first account which is dedicated to BTC. In order to add other cryptocurrencies, there is a dropdown menu that allows users to add BCH, DOGE, LTC, ETH, plus a range of ERC20 tokens.

Transactions, Shapeshift, and Comparisons to Other Models

Unlike other hardware wallets, Keepkey needs to be plugged in to view accounts and they can't be seen when the device is disconnected. After the initial seed had been set up, I created a bitcoin cash (BCH) wallet to send myself some funds. Anytime I test a new wallet I always send a small fraction of crypto just to make sure the application is working properly. The wallet immediately saw the transaction; you can view confirmed and unconfirmed transactions in a separate window that's tethered to a block explorer.

The Keepkey's interface is fairly intuitive, and you can change things like the PIN or use the wallet's in-client Shapeshift option within the settings section. Sending and receiving is simple and the actual device itself is used for signing verification, while also showing sending/receiving addresses on the screen as well.

Following the transaction, I decided to look at the client's Shapeshift integration. Keepkey is owned by the firm Shapeshift AG and was one of the first hardware wallets to offer trading abilities within the wallet. Recently, however, Shapeshift has changed the platform's business model to a membership exchange and all Keepkey users have to register using the client.

The required items needed to use Shapeshift include a verified email and the user must submit a photo ID to trade. All of these tasks can be done through the Keepkey client and a quick email verification. After the account is processed you can trade on the Shapeshift exchange in-wallet using the "quick" or "precise" trading options.

Overall, the Keepkey operates fairly smoothly and I didn't really have any problems throughout the setup and funding the device. The Keepkey's user interface is more comfortable to move around and use than the Ledger Nano, and Keepkey operates similarly to the Trezor One. Unlike the Trezor or Ledger, the Keepkey uses one button navigation but still works fluidly with the wallet's tasks like sending and receiving. The device doesn't have support for too many cryptocurrencies right now, and other products offer a greater selection. But as far as the coins it does hold, the Keepkey offers an easy to use operating system and is just as secure as its competitors by using similar opsec techniques.

What do you think about the Keepkey hardware wallet? Let us know what you think about this device in the comment section below. Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author's own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Review editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are considered optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader's responsibility. For good measure always cross-reference guides with other walkthroughs found online. Images via Jamie Redman, Keepkey, Shapeshift, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section.

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

10/13/2018 / 17:15:32 Source: bitcoin.com

BTC
1 BTC=$3,672.73
XRP
1 XRP=$0.3291
ETH
1 ETH=$123.05
XUC
1 XUC=$2.00
EOS
1 EOS=$2.53
BCH
1 BCH=$129.67

News Feed 50

Cryptopotato Neutral - Bakkt Futures by ICE is Now Supported by World’s 23rd Richest Man Li Ka-Shing read more.
01/09/2019 / 08:47:17
Themerkle Neutral - NEO Price Gains 12% Despite Malcolm Lerider Departure read more.
01/09/2019 / 08:35:28
Ccn Neutral - Indian Police Make Fourth Arrest in $70 Million Crypto Scam read more.
01/09/2019 / 08:33:42
Cryptonewsreview Neutral - Kraken defends trading of Ethereum Classic, attacks XRP, angers Ripple tech boss read more.
01/09/2019 / 08:32:20
Dailyhodl Neutral - One of the Richest Men on Earth Backs Bitcoin and Crypto, Plus Ripple and XRP, Tron, Stellar, Ethereum, Litecoin, VeChain, IOTA: Crypto News Flash read more.
01/09/2019 / 08:05:10
Ambcrypto Neutral - Litecoin [LTC/USD] Technical Analysis: Cryptocurrency to move along with the bulls on a long run read more.
01/09/2019 / 08:00:38
Newsbtc Neutral - Crypto Market Wrap: NEO Jumps Two Places With 13% Gain read more.
01/09/2019 / 08:00:10
Cryptoglobe Neutral - ShapeShift CEO Says Crypto Is a ‘Harsh Mistress’, Lays Off 1/3 of Staff read more.
01/09/2019 / 07:40:00
Coindesk Neutral - Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance? read more.
01/09/2019 / 07:15:47
Ethereumworldnews - Could Russian Rumors Be Reviving NEO? Surges 15% Today read more.
01/09/2019 / 07:01:58
Ambcrypto Neutral - Tron [TRX] grows steady with 9% hike; Litecoin [LTC] holds strong despite strong resistances read more.
01/09/2019 / 07:00:37
Newsbtc Neutral - Bitcoin Price Watch: BTC Buyers Not Out of Woods Yet read more.
01/09/2019 / 07:00:22
Ethereumworldnews Neutral - Tron (TRX) Rally Looks Real, Price Could Test $0.0350 read more.
01/09/2019 / 06:45:59
Ccn Neutral - Ripple CEO to Critics After Obtaining 200 Clients: Banks Will Use XRP read more.
01/09/2019 / 06:36:40
Cryptonewsreview Neutral - Neo continues to climb, continuing its excellent start to 2019 read more.
01/09/2019 / 06:28:44
Cryptoglobe Neutral - Gold Backed Crypto Exchange Offers Safe Haven for Crypto Investors read more.
01/09/2019 / 06:20:50
Newsbtc Neutral - #Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis read more.
01/09/2019 / 06:00:54
Ambcrypto Neutral - Bitcoin IRA launches turnkey, white-label solutions for enterprise businesses read more.
01/09/2019 / 05:45:21
Cryptonewsreview Neutral - Litecoin founder on the 51% attack problem read more.
01/09/2019 / 05:41:24
Bitcoin.Com Neutral - Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies read more.
01/09/2019 / 05:30:28
Cryptonewsreview Neutral - Google is causing problems for a Bitcoin wallet provider read more.
01/09/2019 / 05:28:51
Cryptonewsreview Neutral - Cryptocurrency exchange cuts back staff, admits mistakes read more.
01/09/2019 / 05:25:45
Coindesk Neutral - The Case for a 2020 Bitcoin Bull Run read more.
01/09/2019 / 05:25:42
Dailyhodl Neutral - Tron (TRX) Rallies 34% in One Week, Gears Up With BitTorrent Crypto Token and Binance Launchpad read more.
01/09/2019 / 05:11:52
Coingape Neutral - Bitcoin less Centralized Compared to Ethereum and Bitcoin Cash- Long Hash Research read more.
01/09/2019 / 05:10:45
Bitcoinerx Neutral - New Sanctions Could Push Russia to Dump the US Dollar in Favor of Bitcoin read more.
01/09/2019 / 05:00:49
Newsbtc Neutral - #Ripple Price Analysis: XRP Eyeing Upside Break Above $0.37 read more.
01/09/2019 / 05:00:11
Newsbtc Neutral - #Ethereum Price Analysis: ETH Consolidating, Buyers Could Take Control read more.
01/09/2019 / 04:08:28
Bitcoinist Neutral - State of Emergency read more.
01/09/2019 / 04:00:50
Ethereumworldnews Neutral - #Litecoin (LTC) Price Analysis: Slow But Steady Climb read more.
01/09/2019 / 03:51:39
Cryptoglobe Neutral - Malta's Government 'Completely Silent' About Crypto Development 'Over Holidays', Nation's Opposition Leader Claims read more.
01/09/2019 / 03:50:00
Ethereumworldnews Neutral - #Bitcoin (BTC) Price Analysis: Another Attempt to Break Higher read more.
01/09/2019 / 03:31:02
Bitcoin.Com Neutral - Central Bank Official: Regulators Are Hindering the Development of Cryptocurrencies read more.
01/09/2019 / 03:10:36
Cryptoglobe Neutral - Brave Announces Growth Stats: Surpasses 5.5 Million Monthly Active Users read more.
01/09/2019 / 03:00:00
Cointelegraph Neutral - Square’s Cash App Blocks Account of Social Media Site Gab’s Founder: Report read more.
01/09/2019 / 02:45:00
Ccn Neutral - President Trump Makes His Case for a Border Wall as Economy Hangs in the Balance read more.
01/09/2019 / 02:16:53
Cryptoglobe Neutral - Who Will Win the Race to be the “Crypto Valley of Asia”? read more.
01/09/2019 / 02:00:00
Dailyhodl Neutral - Bakkt – Why a Successful Launch Could Boost the Cryptocurrency Market read more.
01/09/2019 / 01:37:02
Ccn Neutral - Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision? read more.
01/09/2019 / 01:31:17
Bitcoin.Com Neutral - Review: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again read more.
01/09/2019 / 01:10:11
Ethereumworldnews Neutral - Crypto Startup CEO: “Gut Feeling” Is That Bitcoin (BTC) Will Fall Under $3,000 read more.
01/09/2019 / 01:00:38
Newsbtc Neutral - Data Suggests That Bitcoin Is Seeing Increasingly Bullish Sentiment read more.
01/09/2019 / 01:00:31
Bitcoinist Neutral - Yellow Vests in France Planning a Bank Run to Collapse the Euro read more.
01/09/2019 / 01:00:30
Cryptoglobe Positive - Cudo Mining Software Lets Users Mine According to Profitability read more.
01/09/2019 / 00:50:00
Ambcrypto Neutral - Bitcoin Cash [BCH] Technical Analysis: Bear picks up the pace taking over the market read more.
01/09/2019 / 00:30:52
Ccn Neutral - Anti-Bitcoin JP Morgan CEO Jamie Dimon: No Recession Ahead, Dow is Rebounding read more.
01/09/2019 / 00:20:24
Cryptoslate Neutral - World’s 23rd Richest Man Invests in Cryptocurrency Exchange Bakkt’s First Funding Round read more.
01/09/2019 / 00:18:25
Cointelegraph Neutral - Litecoin’s Charlie Lee: Decentralized Crypto ‘Must Be Susceptible to 51% Attacks’ read more.
01/09/2019 / 00:17:00
Newsbtc Neutral - Cryptocurrency Bear Market Pressures Shapeshift into Layoffs read more.
01/09/2019 / 00:00:45
Cryptoglobe Neutral - Blockchain Community Returns to Its Founding Principles with Revolutionary New Smart Contract Investment Platform read more.
01/08/2019 / 23:55:42
Negative
2.9%
Neutral
94.2%
Positive
2.5%
Mixed
0.4%

Latest comments: