When storing and protecting your crypto, picking the right wallet is important for your asset’s safety and peace of mind.
In this post, we will review KeepKey Wallet and help you decide if it’s really worth it.
KeepKey Wallet At a Glance:
Pros:
- ✅Sleek, durable design
- ✅Supports a variety of cryptocurrency
Cons:
- ❌Larger and not as portable compared to other cold wallets
- ❌Limited customer support
- ❌Slower transaction speed due to numerous steps
Who is the KeepKey Wallet For?
The KeepKey Wallet is an electronic hardware wallet, ideal for crypto investors who have previous knowledge of how cryptocurrencies, dApps, and hardware wallets function.
It supports various cryptocurrencies, including Bitcoin, Ethereum, Rune, Dogecoin, Litecoin, Cosmos, Ripple and more. This makes it a viable multi-crypto wallet option.
It has security features like PIN protection and seed phrase backup, but since it’s an electronic hardware wallet, it still requires a connection to an app, which could put you at risk of potential hacks.
As a user, you are responsible for managing the device’s power charge, whether charging the hardware wallet or replacing the battery.
It’s up to you to make sure that the screen is functioning when you need it to, otherwise, the KeepKey Wallet can be inaccessible if the screen fails.
Overall, this is a good hardware wallet option. However, it is meant for users who have a decent knowledge of crypto, the blockchain’s functions, and basic tech skills as there are several steps for setting it up and use.
If you are a beginner and looking for a safer and simpler solution, then I would recommend this crypto cold wallet as a user-friendly choice.
Why Choose KeepKey?
KeepKey stands out because it applies strong security measures despite having to connect to a computer. It uses open-source software with PIN protection, and recovery phrase backup.
The device itself is easy to navigate, as there is only one button on the device. It functions smoothly for those who have a basic concept of crypto storage.
Its screen is clear and allows you to approve and review received crypto and addresses, which is a positive aspect for those looking for extra reassurance.
⚠️NOTE: As an electronic hardware wallet, it needs a connection to your computer and a firmware update, which can potentially introduce security risks to the hardware device.
KeepKey Wallet Specs
- Dimensions: 38 x 93.5 x 12.2 mm
- Weight: 54g
- Material: Anodized aluminum
- Display: 3.12” OLED
- Connectivity: USB
KeepKey’s Main Features
Let’s go over the main aspects of the KeepKey Wallet and see why some crypto investors love it and why others are urging you to look somewhere else!
Security
➡KeepKey claims to be designed with top-notch security in mind but relies on a combination of PIN code and 12/18/24-word recovery phrase for protection.
When you first set up the wallet, you generate this seed phrase, which is crucial for regaining access to your wallet if the device is lost or damaged.
➡KeepKey’s electronic display is a 3.12” OLED screen, which can help you verify and check each transaction.
➡The wallet’s firmware is open-source, which aids in auditing and verifying that everything is running smoothly.
Design
➡The KeepKey Wallet is made of anodized aluminum and weighs 54 grams.
➡ The aluminum casing is easily scratchable and isn’t resilient to the elements.
➡It’s slightly bigger than other hardware wallets, with dimensions of 38 x 93.5 x 12.2 mm. This makes it less portable for many users.
➡You can purchase the hardware device in classic gray, red, green, gold, or silver.
Supported Cryptocurrencies
➡KeepKey supports 7,000 cryptocurrencies and over 40 ERC-20 tokens.
➡It recently added new coins and tokens in 2024, functioning off of 350+ blockchains.
How to Set Up the KeepKey Wallet
To set up your KeepKey Wallet, you need to follow a few steps.
It’s relatively straightforward if you have a basic understanding of technology, cryptocurrencies, and crypto-wallets.
1️⃣You need to download the latest KeepKey software for your computer.
2️⃣Connect the device to your computer using the provided cable from the box.
3️⃣Enter Updater Mode by unplugging the device, holding down the button, and replugging the device again.
4️⃣Update the device’s Bootloader.
5️⃣Update its Firmware.
6️⃣Create your wallet.
Optional: You can recover your KeepKey Wallet by generating a recovery phrase of 12, 18, or 24 words.
🛑Important🛑
You will be required to use a cipher to enter text with your keyboard. Never enter your mnemonic recovery phrase in any app without using a cipher!
Price
The KeepKey Wallet is priced competitively:
➡ USD 100.00 regular price, although they have been promoting the device in 2024 at a special sale price of USD 78.00.
➡Compared to other hardware wallets, such as Coldcard and Ellipal, this is a cost-effective option for anyone who is looking for a multi-crypto hardware wallet.
Support and Connectivity
➡KeepKey provides basic customer support through email and its interactive website.
➡It provides resources and guides to help users with common issues.
Warranty
➡KeepKey honors a one-year limited warranty, covering any defects.
➡The warranty doesn’t cover damage caused by user misuse.
Overall, the KeepKey Wallet is a decent option for storing your crypto.
However, if you are looking for true cold wallet storage and not just a hardware device, that is easier and more managable, then you have other options available.
A Better Solution for Real Cold Storage
If the safety and security of your crypto is your #1 priority, then you need to use a cold wallet and not just any hardware wallet.
Material Wallets provide security by being completely offline and therefore immune to hacking and phishing scams.
Material crypto cold wallets are made of stainless steel, resulting in a durable and damage-proof card.
Unlike KeepKey and other electronic hardware wallets, Material Wallets do not have a digital screen and therefore there is never a need to worry about any digital responsibilities or failure.
There is no setup required, making it the ideal choice for anyone who is looking for a simple, easy-to-use crypto wallet that offers maximum protection.
Final Thoughts on KeepKey Wallet
The KeepKey Wallet is good if you are looking to access specific blockchains and dApps, although it isn’t the best option for top-choice security or beginners.
It falls short in physical security as the device is made of aluminum and isn’t durable for long-term storage.
There are many steps to its setup, making it a less appealing choice of crypto wallet for those who are unfamiliar with technology and cryptocurrencies.
You should consider these points when deciding if KeepKey is the best wallet option for you.
FAQs
Is KeepKey Wallet safe?
- It uses a PIN code and recovery phrase but requires you to connect to a computer, make transactions through an app, and install firmware.
How to access the KeepKey Wallet?
- Connect it to your computer via USB and enter your PIN code. Then follow the steps that the interface provides you with.
What is the difference between Trezor One and KeepKey?
- KeepKey has a larger digital screen, while Trezor One is smaller and more portable.
What crypto does KeepKey support?
- It supports over 7,000 cryptocurrencies.
Who makes KeepKey?
- ShapeShift purchased KeepKey in 2017 and has continued to manufacture the devices.
What is the best cold storage wallet?
- It depends on your needs. KeepKey is great for multi-crypto storage, while Trezer is an easy-to-carry wallet and Material Bitcoin is straightforward and user-friendly.
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