KeepKey is a standalone hardware cryptocurrency wallet that is both very attractive and secure. Being a Hierarchical Deterministic wallet, it is more secure than the other regular cryptocurrency wallets in the market. The KeepKey has additional security measures such as the use of Personal Identification Number, permanent storage of private keys and transaction signing. It has a sleek design with an attractive OLED display. The wallet supports a wide range of cryptocurrencies and can be used with both desktops and Android.
KeepKey was founded by Darin Stanchfield and has its headquarters in Bothell, Washington, United States.
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- Supports namecoin, bitcoin, dash, ethereum, dogecoin with more getting supported in the future
- Assets can be exchanged easily with the device using Shapeshift
- It is supported by a range of clients such as Mycelium and Electrum
- It is not prone to malware and is virus proof
- Works on a range of platforms
How do I send and receive payments with KeepKey?
Sending and receiving payments with KeepKey is similar to other wallets with an exception of the computer storing private keys. This means that transactions are not signed by the computer but have to be passed through the KeepKey to get signed.
- A request is sent by the computer to the Keepkey where the user gets notified.
- The transaction message is displayed on the OLED display which prompts the user to confirm the transaction.
- After the user confirms the transaction, it gets signed and taken back to the computer client.
- From there, the computer client announces the transaction to the cryptocurrency network such as bitcoin or ethereum and the process is concluded
What about the security of Keepkey?
Being a hardware that a user can carry anywhere, the KeepKey wallet is more secure since it is less prone to hacking and online data theft. The KeepKey implemented additional security features such as storing your private key directly on KeepKey device, use of Personal Identification Number, implementation of a 12-word sentence and use of a passphrase. The recovery sentence is crucial in the recovery of the user’s data when the Keepkey is lost and the passphrase is an additional word to the 12-word recovery sentence.
Pros and cons
- Robust security measures put in place ensure safe storage for the user’s funds and private key
- The KeepKey design is attractive with a sleek OLED display
- Supports a wide range of cryptocurrencies
- Great value for its new price
- Since it’s a standalone hardware wallet, the user is forced to incorporate additional software such as electrum to make it work
- It is slightly larger than other hardware wallets such as.
- Doesn’t allow users to save their progress during setup
- Transaction process might be tedious for users that are used to the digital wallets
Keepkey is compatible with the windows, Mac, Linux and Android platforms. Additionally, it is also compatible with software wallets such as Mycellium and Electrum. KeepKey supports various cryptocurrencies such as Bitcoin, Namecoin, Dogecoin, Etherium, litecoin and dash.