Wallet Type
  • Hardware Wallet
  • Supported Cryptocurrencies
    Number of Currencies
  • 55 (Show More)
  • Recovery Option
  • Yes (Show More)
  • Private Key Access
  • No
  • Storage Type
  • Cold Storage
  • Security Level
  • High (Show More)
  • User Friendliness
  • Requires Experience (Show More)
  • Price
  • $49 + Shipping

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KeepKey Wallet Review

KeepKey Wallet is one of the oldest and most secure Bitcoin hardware wallets in the world. Launched in 2015, the device is used across the world to secure digital coins and tokens. It does this with the use of advanced technology which protects customers’ funds from remote theft or cyberattacks.

KeepKey is a multicurrency wallet which can hold most of the popular cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Bitcoin Gold, Dash, and Dogecoin. As the wallet has been integrated with the ShapeShift cryptocurrency exchange, it is possible to exchange the digital assets directly from the device. KeepKey wallet also provides the option to recover your account in case the device is broken, stolen or lost.

KeepKey Wallet Review
Screenshots are shown for illustration purposes only. Actual product may vary.

This hardware wallet comes complete with a clear screen which is used to display information about all your transactions. Unlike Trezor and Ledger Nano S, KeepKey has only one button which is used to control all device operations. The wallet doesn’t require any battery to function, instead, it is powered when connected to a computer.

How does KeepKey compare to other top rated crypto wallets?

  • KeepKey
  • Ledger Nano X
  • Wallet Type
  • Hardware Wallet
  • Rating
  • 4/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT), DASH, 0x (ZRX), QTUM, Litecoin (LTC),
  • User Friendliness
  • Requires Experience
  • Price
  • $49 + Shipping
KeepKey Review
  • Wallet Type
  • Hardware Wallet, Mobile Wallet
  • Rating
  • 5/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), TRON (TRX), Monero (XMR), EOS, Stellar (XLM)...
  • User Friendliness
  • Easy To Use
  • Price
  • €119 / $119 + Free Shipping Worldwide
  • Wallet Type
  • Hardware Wallet
  • Rating
  • 4.5/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), TRON (TRX), Monero (XMR), EOS, Stellar (XLM)...
  • User Friendliness
  • Requires Experience
  • Price
  • €59 / $59 / £54.50 + Free Shipping Worldwide
  • Wallet Type
  • Mobile Wallet
  • Rating
  • 4.5/5
  • Security
  • Medium
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), Stellar (XLM), 0x (ZRX), Litecoin (LTC),
  • User Friendliness
  • Easy To Use
  • Price
  • Free
  • Wallet Type
  • Hardware Wallet
  • Rating
  • 4.5/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), Monero (XMR), EOS, Stellar (XLM), Cardano (ADA)...
  • User Friendliness
  • Requires Experience
  • Price
  • Model T €180 / $205 / £162 + Shipping
  • Wallet Type
  • Desktop Wallet, Mobile Wallet, Web Wallet
  • Rating
  • 4.5/5
  • Security
  • Medium
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), TRON (TRX), Monero (XMR), EOS, Stellar (XLM)...
  • User Friendliness
  • Easy To Use
  • Price
  • Free
  • Wallet Type
  • Hardware Wallet, Mobile Wallet
  • Rating
  • 4.5/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), 0x (ZRX), Litecoin (LTC),
  • User Friendliness
  • Easy To Use
  • Price
  • $99 + Possibly Free Shipping
  • Wallet Type
  • Desktop Wallet, Mobile Wallet
  • Rating
  • 4.5/5
  • Security
  • Medium
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Tether (USDT), TRON (TRX), Stellar (XLM), DASH, NEO...
  • User Friendliness
  • Easy To Use
  • Price
  • Free
  • Wallet Type
  • Desktop Wallet, Mobile Wallet
  • Rating
  • 4/5
  • Security
  • Medium
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), 0x (ZRX), QTUM,
  • User Friendliness
  • Easy To Use
  • Price
  • Free
  • Wallet Type
  • Web Wallet
  • Rating
  • 3.5/5
  • Security
  • Medium
  • Supported Currencies
  • Bitcoin (BTC),
  • User Friendliness
  • Easy To Use
  • Price
  • Free
  • Wallet Type
  • Mobile Wallet
  • Rating
  • 4.5/5
  • Security
  • High
  • Supported Currencies
  • Bitcoin (BTC), Ethereum (ETH), 0x (ZRX),
  • User Friendliness
  • Easy To Use
  • Price
  • Free, Monthly Pricing

Originally, KeepKey was sold at close to $200, but its price has since decreased. Until recently, it was available for just under $100, whilst today it is priced at under $50. For security reasons, it is recommended that you purchase the wallet directly from the official website here.

Supported Cryptocurrencies

KeepKey wallet supports 55 coins and tokens which include:

Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Dogecoin (DOGE), Dash (DASH), 0xBitcoin (0xBTC), 0x (ZRX), Binance (BNB), Augur (REP), Basic Attention Token (BAT), Bancor (BNT), Civic (CVC), Edgeless (EDG), FunFair (FUN), Gnosis (GNO), Golem (GNT), ICONOMI (ICN), Metal (MTL), Storj (STORJ), Tether (USDT), TrueUSD (TUSD), WeTrust (TRST)

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To know the full list of coins and tokens supported by KeepKey wallet, simply visit their site and click on the ‘Assets’ tab at the top of the page.

KeepKey Review - Supported Cryptocurrencies

The page which appears will give you a full overview of the cryptocurrencies supported by this cold storage device. Cryptocurrencies are split between ERC-20 tokens and others.

KeepKey Review - Cryptocurrencies
Screenshots are shown for illustration purposes only. Actual product may vary.

Connectivity

KeepKey can be connected to the computer via a USB port. The operating systems compatible with the device are Windows, Mac, and Linux. It is possible to use the KeepKey device with your mobile phone by installing the MyCelium app which is available on both Google Play Store and App Store. The device must be connected to your phone using an OTG adapter cable. If there is no option on your mobile phone to connect the OTG cable, then you cannot use KeepKey on your phone.

KeepKey Review - Connectivity
Screenshots are shown for illustration purposes only. Actual product may vary.

Setup & Configuration

KeepKey can and should be purchased directly from their official website. Once the package is received, ensure that it has the following:

  • KeepKey Wallet
  • USB Cable
  • Recovery Card
  • Instruction manual

Like Trezor, the KeepKey wallet is protected with a holographic seal which shows if a device has been tampered with. Before using the device, ensure that the seal is not broken and intact. If in doubt, you should contact KeepKey’s support team immediately. Do not use the device until you are sure that it is safe to do so.

Initial Configuration

To initialize the KeepKey wallet, you need the latest version of Google Chrome on your computer. The KeepKey app needs to be installed after downloading it from the Chrome App Store. Click here for further information.

  1. Connect the KeeyKey wallet to the computer using the USB cable.
  2. Open the KeepKey client app and click the button Initialize KeepKey. (This option will be displayed only if the device is connected to the computer):

    KeepKey Initialize First Stage
    Screenshots are shown for illustration purposes only. Actual product may vary.
  3. Enter a label or name for your KeepKey device and click ‘Set Label’ button:

    KeepKey Initialize Second Stage
    Screenshots are shown for illustration purposes only. Actual product may vary.
  4. Next, you must choose a PIN for your device. The length of the PIN can vary from 1 to 9 digits. On your computer, the keypad matrix with empty dots will be shown. The corresponding key assignments will be shown only on the KeepKey device. Enter the PIN twice and click the option Choose PIN. (While setting the PIN code, don’t use numbers like birth year, date etc. Try to choose a unique PIN code):

    KeepKey Set PIN
    Screenshots are shown for illustration purposes only. Actual product may vary.
  5. Then, you must make a note of the recovery seed which is 12 words long. It will be displayed only on the KeepKey device. Note down every word carefully and write them down on the recovery card that came along with the device. Do not store your recovery seed on your computer, mobile phone, online storage drive or any place which is easily accessible.
  6. Once you had noted down all the words, press the button on the device to complete the initialization of your KeepKey wallet.

Creating Account

To send/receive digital assets using the KeepKey wallet, the user must create an account by following the steps listed below.

  1. Connect the KeepKey wallet to your computer. Open the KeepKey client app and enter your PIN.
  2. Click the ‘Add Account’ button (+) on the bottom right of your screen.
  3. Select the cryptocurrency from the drop-down menu to create the account. All the ERC-20 tokens will be created as sub-accounts under ETH.
  4. Enter the name for your account (eg. MyBTC) and click ‘Add Account’.

Even though you can create an unlimited number of accounts, KeepKey highly recommends that you keep a maximum of 10 accounts for faster operation of the device.

Receiving Digital Assets

Follow the below steps to receive BTC, Altcoins or any ERC20 token on your KeepKey wallet.

  1. Connect the hardware wallet to your computer. Open the KeepKey client app and enter your PIN to authenticate your device.
  2. Select the account on which you would like to receive funds, eg. Bitcoin.
  3. Select the button titled Receive Bitcoin:

    KeepKey Receive Crypto - One
    Screenshots are shown for illustration purposes only. Actual product may vary.
  4. You will see the receiving address displayed on the screen. You must ensure that the address displayed on the screen and the KeepKey device are the same.
  5. You can now either copy the address manually or scan the QR code to share that with the sender.

    KeepKey Receive - QR Code
    Screenshots are shown for illustration purposes only. Actual product may vary.

Once the sender completes the transaction, you should receive the funds in your KeepKey wallet. The time taken for this can vary significantly, with transactions taking longer when a coin’s network has a high volume.

For better privacy, it is highly recommended to use a unique address for every transaction. By default, the KeepKey will generate a new address for every transaction.

Sending Digital Assets

KeepKey Sending Crypto
Screenshots are shown for illustration purposes only. Actual product may vary.

Follow the below steps to send BTC, Altcoins or any ERC20 token from your KeepKey wallet:

  1. Connect the wallet to your computer. Open the KeepKey client app and enter your PIN to authenticate your device.
  2. Select the account from which you would like to send funds, eg. BTC.
  3. Select the button titled ‘Send/Trade’.
  4. Enter the destination address to which you would like to send the coins.
  5. Enter the amount of cryptocurrency you would like to send and choose the level of the transaction (Fast/Medium/Slow). Faster transactions require high transaction fees whereas slower transactions require only little fees but take more time to complete the transaction.
  6. Click the ‘Send’ button.
  7. Enter your PIN. Double-check the amount displayed in the screen and the KeepKey device are the same. If they match, click the button on the KeepKey device to authorize the transaction.

You have successfully transferred your funds out of the KeepKey wallet. To know the status of your transaction, you can check the Transaction History on your KeepKey client app.

Integration with ShapeShift

Since KeepKey is integrated with the ShapeShift exchange, it is possible to exchange the digital assets directly from the wallet.

  1. Make sure you have first signed up as Shapeshift Member. To do this, go to you KeepKey Settings > Log in To ShapeShift > Click ‘Sign Up’.
  2. Connect the wallet to your computer and open the KeepKey client app.
  3. Select the account from which you would like to use the digital assets for trading.
  4. Click the button titled ‘Send/Trade’.
  5. On the destination address field, select the cryptocurrency you wish to exchange.
  6. Then, enter the amount of the cryptocurrency and click the ‘Trade’ button located at the bottom of the screen.
  7. You will need to authenticate the transaction by entering your PIN. Ensure that the information shown on the screen and device are the same. If they match, press the button on the KeepKey to confirm the transaction.

Once you have confirmed the transaction, ShapeShift exchange will make the conversion and deposit your new coins or tokens in your wallet.

Security

KeepKey is an HD (Hierarchical Deterministic) wallet which uses the BIP32 protocol to store the private keys of Bitcoin, Altcoins and other ERC20 tokens. As it uses BIP32, it is possible to generate and store an unlimited number of private keys on the KeepKey wallet.

While entering your PIN code, the numbers will be shown only on the KeepKey device and not on the computer. This prevents hackers from using keyloggers or other kinds of mechanisms to discover the code. This is just one of the reasons why storing your cryptocurrencies on KeepKey is a great way to keep them safe.

In addition to the PIN, you can also set an optional passphrase for extra protection. As the microcontroller in the KeepKey has read protection, it is impossible to access the flash memory where the private keys are stored. Even if the hacker steals the device and tries to use any debugger tool to communicate with the device, it is impossible to read the private keys from the device.

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Recovery Options

In case your KeepKey device is lost or stolen, it is possible to recover your account, provided you remember your 12-word recovery seed.

KeepKey Recovery
Screenshots are shown for illustration purposes only. Actual product may vary.

To recover your account into another KeepKey device, follow the below steps.

  1. Connect your new KeepKey device to your computer.
  2. Open the KeepKey client app and click the link ‘Recover KeepKey’, which is displayed on the bottom of the screen.

    KeepKey Recover Wallet
    Screenshots are shown for illustration purposes only. Actual product may vary.
  3. Create a label for the device.
  4. Create a secure PIN for your new device.
  5. Enter the 12-word recovery seed of your old device onto the new device. Once you have entered all the words, click the ‘Enter’ button on your screen.

    KeepKey Recover 12-Digit Pin
    Screenshots are shown for illustration purposes only. Actual product may vary.

Your account should have been recovered successfully and all account information will be displayed on the screen. In case of any issues contact KeepKey’s customer support immediately.

Even if you don’t have another KeepKey device, it is still possible to recover your accounts on any wallet that is compatible with the BIP44 protocol like MyCelium, Coinomi, CoPay, Exodus etc. On the other hand, if you have to recover only one account, then it can be done using any BIP39 compatible wallet.

Comments From Crypto Investors

Even though KeepKey has recently reduced its price, it is not as popular as Trezor or Ledger Nano S. Many users have reported connectivity issues on the Reddit forum. In addition, there have also been reports that the customer support team is relatively slow to resolve these issues. Other than connectivity, no issues related to security have been reported on social media or online forums. Overall, KeepKey is considered a safe hardware wallet to store coins and tokens.

KeepKey Reviews
Screenshots are shown for illustration purposes only. Actual product may vary.

Clients' queries

KeepKey vs Trezor

KeepKey vs Trezor
Screenshots are shown for illustration purposes only. Actual product may vary.

KeepKey has only got one button to control the entire operation of the device whereas Trezor offers touchscreen as well as physical buttons. The display screen of KeepKey is slightly bigger than those of both Trezor One and Trezor Model T. Like Trezor, KeepKey also supports the Blind matrix to improve the security of the PIN code entry. Both brands are easy to configure and offer superb security. Trezor supports a larger number of coins and tokens than KeepKey. On price, Trezor models are more expensive than KeepKey, but this makes sense when you compare the features.

KeepKey vs Ledger Nano S

KeepKey vs Ledger Nano S
Screenshots are shown for illustration purposes only. Actual product may vary.

KeepKey has only one button whereas the Ledger Nano S comes with two buttons. As the display of the KeepKey wallet is bigger, it is somewhat less comfortable in your pocket than the Ledger Nano S. Both wallets provide excellent security and are favourites amongst the crypto community. Regarding supported coins and tokens, the Nano S supports a significantly higher number of coins. For this reason, the Ledger Nano S provides better value for money, with its cost price just slightly higher than that of KeepKey.

Rating

4.2

Portability – 3.5

Security – 4.9

Ease of use – 4.2

Cryptocurrency Support – 4.0

Pros and Cons

KeepKey Wallet Pros and Cons

Where to buy KeepKey?

You should only buy KeepKey from the manufacturer’s official website. This will ensure that your device is genuine.

How many private keys can be stored on my KeepKey?

KeepKey supports BIP32 wallets, which means that it can store an unlimited number of private keys.

Is KeepKey safe?

KeepKey is considered to be one of the safest cryptocurrency wallets in the world.

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