Although not as popular as Ledger or Trezor, the KeepKey hardware wallet is still a great choice if you’re looking to take your coins offline and secure them in cold storage.
Hardware wallets are by far the most secure way to store your cryptocurrency. Because these wallets are offline in “cold storage”, they’re impossible for hackers or malware to reach. The safety of your funds is fully your responsibility.
KeepKey immediately differentiates itself through its sleek design. The wallet has a large display screen to easily read account information and confirm transactions. As a half-blind product designer occasionally struggling to read the minuscule text on my Ledger Nano S, I appreciate this focus on user experience.
You can currently store Bitcoin, Litecoin, Dogecoin, Namecoin, Ethereum, and Dash on a KeepKey wallet. You may have noticed that ERC-20 tokens are missing from this list – compatibility that other competitors have already built out.
Technically, ERC-20 tokens are supported on the KeepKey, but they’re currently building out the client-side software to be able to access those coins. The management team has stated that this should be done soon but hasn’t specified a date.
What are people saying?
The Good: KeepKey has a fantastic reputation in the community boasting 4.2 stars out of 5 on Amazon and over 260 reviews. Most users compliment KeepKey on its sexy design, large display, and ease of use. Many customers have also reported quick response times on issue tickets and comprehensive help from the customer support team.
The Bad: There have been reports by some users that their KeepKey was functioning perfectly up until the Bitcoin Cash fork. After the fork, the beta software and firmware were known to have been buggy which has caused issues when trying to send coins. Some customers have also reported that the KeepKey is too simple for them by placing limitations on the recovery seed and automatically setting fees that aren’t able to be changed.
With a $129 price tag, the KeepKey is slightly more expensive than other more popular competitors.
How’s it work?
You can use your KeepKey with any Mac, Windows, or Linux operating systems. The wallet also has a Google Chrome plug-in that’s available for you to use.
To initialize your KeepKey, you need to plug it into your computer with a USB drive after downloading the client software from the Chrome app store. The client has a simple, straightforward interface with clear instructions on how to perform basic actions such as sending and receiving funds, viewing transactions, and adding multiple accounts.
As I mentioned before, authentication and transaction confirmations are performed through the physical wallet. The large screen and clear text help to bring peace of mind when performing these important and sometimes irreversible actions.
Earlier this year, KeepKey was acquired by Shapeshift, a popular platform used to exchange cryptocurrencies with each other. Because of this acquisition, you’re able to shift between coins directly in your wallet without having to send them to an exchange.
Can I trust these guys?
The CTO of KeepKey is a guy named Kenneth Hodler. Hodler – is last name is actually Hodler. I can’t make this stuff up. If that alone isn’t enough for you to trust this company, I don’t know what you’re looking for.
For those of you who are new to crypto, HODL (Hold On for Dear Life), is a commonly used acronym to encourage investors to refrain from panic selling during the inevitable dips of this volatile market.
All jokes aside, KeepKey is a reputable company that follows the highest security standards to ensure the security of your funds. The firmware is 100% open-source, so any loopholes or ability to steal private keys would be exposed by the community.
All KeepKeys are tested and packaged in tamper-proof shrink wrap before being sent to you. There’s no way to open the box containing your KeepKey without breaking a security seal. You’ll know immediately upon receiving your wallet whether or not it’s been tampered with.
If your KeepKey is lost or stolen, you can rest easy knowing that your funds are still safe. The only way for someone to access your wallet is by entering your pin. Make sure to remember and save your recovery sentence in the event that you do lose your wallet. This is the only way to access your funds if your wallet is misplaced.
KeepKey has a solid support team and an extensive customer support section on their website. They provide a bunch of articles to help you through the sticking points you may encounter as you get comfortable using your wallet.
Topics in the help section cover everything from “Initialization” and “How to Add an Account” to an “Introduction to Bitcoin”. The website also has an extensive list of FAQs to help you out.
Support tickets are handled through email and several reviewers have stated that they received a response to their issue within 2 business days.
What do I think?
I like KeepKey.
The wallet is beautifully designed with a large screen that allows for a comfortable experience when performing important actions like confirming transactions. Matching the user experience of the wallet, the interface on the software client is uncomplicated and intuitive.
The only thing to stop me from purchasing one is the limited list of coins that you can currently keep on the wallet. Once KeepKey implements ERC-20 token support, I’ll have to seriously consider switching over from my Ledger Nano S.
(Check Out Our Full List of Recommendations for Bitcoin Wallets and Ethereum Wallets)
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