Keepkey is considered one of the best Bitcoin wallets by anyone’s standards. It was launched in 2015 and works almost identically as its closest competitors TREZOR and Ledger Nano S, however, Keepkey stands out because it offers more advanced features. It can be used to trade Tokens directly and is trusted by many (both beginner and advanced Bitcoin users) to get the job (securing their bitcoins from virtual and physical theft) done.
This Keepkey review seeks to answer questions such as; what level of security does Keepkey provides? where can I purchase a genuine Keepkey device? how do I conveniently set up and use a Keepkey device? how do I convert coins within the wallet? and so much more.
Let’s get started.
- It supports the storage of multiple Cryptocurrencies
- It is packed with multiple features
- Considered the most secure wallet available
- Can be used across major operating systems, Windows, Mac and Linux.
- Has an attractive design (digital screen and metal body). Suitable for people of style.
- Can be used to convert currencies.
- Quite expensive at N35,000 Naira ($99).
WHERE CAN I BUY A KEEPKEY DEVICE, WHAT PRICE SHOULD I EXPECT? — KEEPKEY review
To better understand the setup process illustrated in this Keepkey review, I suggest you have a KEEPKEY device at hand. Luckily, the process of buying a KEEPKEY device is easy. You can buy a KEEPKEY device on Amazon or its official website store. Its high price tag is well worth it, considering the level of security it provides your Cryptocurrencies and the device’ durability.
A Keepkey device is currently selling at N35,000 Naira ($99).
The KEEPKEY device comes with a digital screen and metal body and is larger than the TREZOR and Nano S. below is an image depicting their various designs (KEEPKEY, TREZOR and Nano S hardware wallets.)
HOW SECURE IS KEEPKEY?
Apparently, no one will spend a dime on hardware wallets, if their security framework is no different from online (hot) wallets. Hardware wallets provide that extra bit of security in the sense that, they securely store private keys in offline mode, keeping them out of reach of criminals.
Furthermore, the Keepkey device can be seen as a portable computer, built to provide maximum security for your Cryptocurrencies from physical and virtual theft at all times. User reviews have stated that it is totally safe to use a Keepkey device on any computer since it is immune to virus infections and hacks.
Keepkey makes use of a combination of certain security features to combat threats that involve physical theft of its users’ bitcoin and virtual attacks from hackers. Certain security features make that a reality, this includes:
- offline storage of private keys
- a secure pin code and
- number randomization
Keepkey falls under the category of hardware wallets called HD wallets, and like most HD wallets, it can be backed up through the creation of a 12-word seed by default. However, this can be extended to a maximum of 18-24 words on set up.
The seed is generated on setup through entropy from the Keepkey device and a computer. During the process, the seed is generated in offline mode and displayed on the screen of the Keepkey device, and given the fact that the device is offline; you can rest assured that no third party device or software can access it.
Furthermore, the generated seed can be used to recover your wallet in an event where it is lost, stolen or damaged. The recovery process can be done with Keepkey’s google chrome extension. However, it is advised that users keep their seeds safe and accessible when needed, for, without the seed, any attempt to recover a wallet will be futile.
In addition to displaying your seed, the wallets screen also serves the purpose of confirming outgoing transactions, making sure you are transacting with the right recipient. However, this does not prevent phishing attacks (the links you click on emails and web pages are your sole responsibility, BE CAUTIOUS!)
SETTING UP AND INITIALIZING A KEEPKEY DEVICE
Keepkey setup process is a lot easier when compared to TREZOR and Ledger Nano S. the entire setup process is explained in the video below.
The privacy of your hardware wallet is determined to a large extent by the software wallet you use with your device; some of the wallets you can use are Electrum, Multibit HD and Keepkey chrome. Electrum provides the most privacy of them all.
COINS SUPPORTED BY KEEPKEY
Keepkey currently supports (at the time this article was written). Bitcoin, Ethereum, Dogecoin, Namecoin, Dash and Testnet. However, many more are expected to be added as time goes on.
The surprise coin left out by Keepkey is Ripple. I contacted the keepkey support and they stated that they have no immediate plan to include XRP wallet. This might be because Ripple is not considered a cryptocurrency by a lot of crypto enthusiast. However, we hope they include it, Let’s keep our fingers crossed.
CONVERTING YOUR COINS WITH KEEPKEY
Since Shapeshifts acquisition of Keepkey, they added a new feature to the hardware wallet that allows its users to trade tokens directly from the device without having to create an account on an exchange. The process of converting your coins is explained in the video below.
Hardware wallets are an important security accessory; it is pertinent that you get one for yourself to provide total security for your Cryptocurrencies. Keepkey can be trusted to get the job done, and is highly recommended by all of us at Nigeriabitcoincommunity.
That’s it for our Keepkey review, do check back often as we provide you with all the information you need to stay safe in Cryptoverse. Please hit one of the social media icons below to let others in on this. Let’s work together to put hackers out of business.