• Security: ★★★★★ 5/5
  • Sending & Receiving Coins: ★★★★★ 5/5
  • Supported Coins: ★★☆☆☆ 2/5
  • Size: ★★★☆☆ 3/5
  • Customer Service: ★★★☆☆ 3/5
  • User Friendliness: ★★★★☆ 4/5
  • Compatibility With Other Wallets: ★★★☆☆ 3/5

Honest Review of KeepKey [Features, Price, Alternatives]

Fact-checked
  • Security: ★★★★★ 5/5
  • Sending & Receiving Coins: ★★★★★ 5/5
  • Supported Coins: ★★☆☆☆ 2/5
  • Size: ★★★☆☆ 3/5
  • Customer Service: ★★★☆☆ 3/5
  • User Friendliness: ★★★★☆ 4/5
  • Compatibility With Other Wallets: ★★★☆☆ 3/5

Best For

Best for sending & receiving coins

STRENGTHS

  • Large elongated screen.
  • QR feature for receiving coins.
  • Multi-layered security features.
  • Affordable compared to others.

WEAKNESSES

  • Relatively large with pointy corners.
  • Few supported coins.

In recent years, crypto has gained a massive following, with many accepting it as a legit and secure currency for transactions and investments. With more people using digital coins, many crypto wallets have also emerged as a necessity to keep crypto funds in secure storage. The market offers many brands for crypto wallets that you can choose from. In this article, we’ll focus on one of the most popular of them, which is KeepKey.

In making this Keepkey review, we’ve dug through various sources such as tech features, professional and customer reviews, as well as credible articles about this crypto wallet. At the end of reading this article, you should be able to find out if KeepKey is an essential tool for your crypto investments or something you can just skip. We’ll also get you acquainted with other alternatives that are worth looking into.

If you are interested in all things crypto, you should also check out the top Bitcoin trading platforms and Bitcoin lending sites.

What Is KeepKey and How Does It Work?

KeepKey is essentially a wallet for digital coins. Like regular wallets that store bills and let you walk around with them in your pocket, crypto wallets store digital coins in offline hardware that could also fit in your pocket. Unlike regular wallets, crypto wallets have a lot of high-tech features, especially regarding security and protection.

So why is a crypto wallet necessary when there are software wallets available even for free? It’s all about security. Cryptocurrencies are digital assets, and like anything digital, they are within preying hackers’ reach so long as they are connected to the internet. Software wallets reside in computers and mobile devices which are most likely always connected online. This perpetual connectivity places your digital coins at risk when stored in these devices.

What crypto wallets like the KeepKey hardware wallet do is take your cryptocurrencies into a separate and secure offline backup. This keeps your digital assets away from the dangers lurking online. Aside from that, it also has layers of security in the device itself that would protect your cryptos in case of loss or theft.

KeepKey’s Main Notable Features

Let’s check what KeepKey offers:

Supported Coins

There are many digital coins available and the number keeps on growing. The KeepKey Ethereum wallet supports 40 of the most popular cryptocurrencies including Bitcoin, Bitcoin Cash, Bitcoin Gold, Dash, Dogecoin, Ethereum, and Litecoin. This is a huge drawback though; there are over thousands of cryptocurrencies, but KeepKey is limited to only a few dozen. If you’re only using one or two of those mentioned, this shouldn’t be a problem.

Security Protection

Being offline hardware that is detached from your computing devices is automatically a security feature. The absence of constant connection from the internet keeps it away from the reach of malicious and suspicious codes.

Aside from this, KeepKey also has built-in security features. The primary security layer for the device itself is the PIN. But unlike a traditional PIN entry method where numbers are lined up in order, KeepKey randomizes the arrangement of the numbers on the screen each time. This makes your code a lot harder to crack.

The final layer of protection is the device recovery passphrase. This is a 12-word sentence that will allow you to access your cryptocurrencies in the event you need to recover your private key.

Customer Service

If you have issues with your device, KeepKey has a support tab where you’ll be able to find solutions via a search bar menu. All you have to do is type your question, and it will show the answers from a pre-written template.

In case you’d like to get in touch with actual humans, you can click on Contact Us; from there, you’ll be taken to another menu of concerns. Pick from the menu table to be able to send an email to the right department. Based on our customer support experience for this KeepKey wallet review, they don’t seem to have a dedicated hotline number to make voice calls, nor a live agent chat function.

Design & User Friendliness

The KeepKey hardware has dimensions of 0.59 x 0.29 x 0.16 in centimeters and weighs 53.3 grams. It’s quite sizable to be kept inside pockets. Plus, the pointy corners also make it very pokey. Aesthetically, the two-tone combination of black shiny plastic and metallic finish make it feel and look sleek and stylish.

On the plastic side is where the display is hosted. While it is bright and clear, the refresh rate can be a bit slower than you’d expect. The glossy plastic does look good…that is, until it starts getting scratches. It’s also very prone to fingerprints. If you like to keep your shiny things shiny, this is a high-maintenance device, and you’ll have to learn how to use KeepKey with a bit of extra care.

Making Transactions

Sending and receiving coins is done via a web interface. This is when you’ll have to connect your device to your computer and operate it using the KeepKey account manager online. From here, you can send and receive supported cryptocurrencies.

One unique feature about KeepKey is its QR availability. This lets you receive KeepKey coins just by using the QR code on the device’s screen and plugin!

Compatibility With Wallets/Exchanges

The KeepKey Bitcoin wallet has been acquired by the company Shapeshift, which has a built-in crypto native wallet for online exchanges. Other than that, KeepKey is also compatible with other cryptocurrency wallets like MyCelium and Electrum.

The Setup Process for KeepKey Wallet

Here are the steps to set up your KeepKey Wallet:

  1. First, plug your device into your computer. This will immediately prompt you to update your device via the Shapeshift KeepKey app online platform. Once updated, you’ll be asked to download the firmware. KeepKey doesn’t come loaded with firmware, so this will be the first time it will be loaded with one.
  2. After installing the firmware, it’s time to pair your device. Like the previous step, just follow the prompts on your computer’s screen. Create a device name; this can be any name you want your hardware to be associated with.
  3. Next up is to set a PIN. As previously mentioned, PIN entries are non-traditional. On the screen of your KeepKey, you’ll see a three-by-three keypad with numbers in random order. Select the numbers you want to be your PIN. Enter the numbers on your computer, replicating the placing of the number shown on the KeepKey into the blank keypad on your computer.
  4. After that, the next phase in security setup is to write down your backup passphrase entry. This is a nine-word passphrase that is recommended to be written on a physical paper for security. Having access to these keys also permits you to control all your coins from the KeepKey client. Just write down the words on a piece of paper in the order you see on the screen.
  5. If everything has been successfully done, you are now ready to use your KeepKey hardware wallet!

Pricing Plans

Shapeshift has only one variant for the KeepKey, which keeps the pricing pretty standard. From their website, the KeepKey crypto wallet costs $49.

KeepKey Alternatives

If you’re considering getting a KeepKey, you might want to check out these similar wallet-type products before making the final decision.

KeepKey vs Trezor

Win Trezor wins for its smaller size and touch screen interface (higher variant).
Lose Trezor loses for the price, as Keepkey is more affordable.
Best Get Trezor if you need a smaller device that fits better in your pocket.

Keepkey vs Nano S Ledger

Win Nano S Ledger wins for having more coins supported – over a thousand!
Lose Nano S Ledger loses for price. Again, KeepKey is very affordable compared to others.
Best Choose Nano S Ledger if you need to store coins KeepKey does not accommodate.

Comparing KeepKey with the Trezor and the Nano S Ledger, it seems that both alternatives offer more in terms of features and product design. However, where KeepKey wins is when it comes to affordability.

Is KeepKey Worth It?

Presented in this KeepKey hardwallet review, KeepKey’s main selling point against its competitors is its lower pricing scheme. If your crypto collection revolves around the digital coins that KeepKey carries and you don’t mind having a pokey device in your pocket, then KeepKey is a bang for your buck at $49.

KeepKey Pros & Cons

Let’s check Kepkey’s pros and cons

Pros

  • Large elongated screen.
  • QR feature for receiving coins.
  • Multi-layered security features.

Cons

  • Relatively large with pointy corners.
  • Few supported coins.

FAQ

Do I need a crypto wallet?

No, but you should. If you trade cryptocurrencies, you must secure your coins. Crypto wallets are a great way to do this as they can keep your cryptocurrency savings offline while being conveniently accessible when you need them.

If I lose my KeepKey wallet, will I lose all my stored cryptocurrencies?

No. This is where the recovery passphrase comes in. This group of words will be used to recover all your data related to your crypto wallet, which is why it is highly emphasized to keep them secure.

Is KeepKey a good crypto wallet?

Yes! As previously mentioned in this KeepKey review, KeepKey’s selling point is the fact that it is more affordable than many of its competitors. It has great security features and an easy-to-use interface. It does lack in the number of available cryptocurrencies it can support, but for just $49, it’s a pretty good deal.

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