KeepKey Hardware Wallet

Anisa Batabyal
| 29 April, 2020 | 2 min

KeepKey company was launched in 2015 by Darin Stanchfield and was later acquired by ShapeFit (a Bitcoin Wallet) in 2017. Today, KeepKey is one of the leading hardware wallets for cryptocurrency with support for more than 40 digital currencies. It is affordably priced, easy to use, and has a decent design, making it a handy hardware wallet to own for both new and experienced Bitcoin users. Read on to understand in detail:

More about Hardware Wallet

Hardware that stores the private keys is called a hardware wallet. This type of cryptocurrency wallet was launched in 2013 to prevent the stealing of coins. Unlike a digital wallet where the private keys are stored online, the hardware wallet stores the keys locally, and hence the chances of a remote attack are less. Additionally, the hardware wallets are so designed that even if the computer storing the private keys has malware, it can still be used safely. There are many companies manufacturing hardware wallets, but KeepKey is in the top 3 popular choice categories for crypto users. 

KeepKey Product Information and Design 

The KeepKey comes with an attractive looking hardware wallet, a USB cable to connect to the computer, and a card to write down the recovery passphrase. Compared to others, the look and feel of this wallet are much better than its competitors. The device comes with a display to show the password and other menu options. 

The KeepKey protects from physical and virtual theft, and the wallet is backed by a 12-word passphrase that is generated during setup. The display screen prevents the passphrase from getting displayed on a machine connected to the internet. The privacy of the wallet is greatly determined by the extension used to set up.So ensure it is secure to maintain the hardware privacy. This hardware is compatible with Windows, Linux, and OS X. It can also be used on smartphones and tablets by using KeepKey Android

Setting up KeepKey

Setting up the KeepKey hardware wallet is simple and is like any other wallet. Once you unbox the product, download KeepKey Clientfrom the supported browser like Chrome. Connect the device to the computer using the USB and follow the onscreen instructions. Once the KeepKey client and the device is integrated, the wallet screen will display ‘Firmware Update Mode’. Follow the instructions on-screen and complete the update. 

The next step in the setup process is the Initialization Process. Here you can enter and set a new pin for the device. A recovery passphrase is generated, which needs to be noted down for future use. Post noting the recovery phrase, the accounts get loaded. 

KeepKey Supported Coins

KeepKey supports up to 40 different cryptocurrencies. Some of the main coins it supports are Bitcoin, Litecoin, Ethereum, Dash, Dogecoin, Bitcoin Cash, Testnet, Namecoin, Bitcoin Gold, etc. 

Trading of Tokens

KeepKey was acquired by a company called ShapeShift in 2017, which has helped the wallet add a new feature to trade tokens directly. The Wallet has crypto to crypto exchange feature for easy trading of KeepKey XRPto other coins and vice-versa. So you can do any number of currency trading without having to create an account on exchanges. 

KeepKey Pricing

The KeepKey wallet was launched with much fanfare and a high price tag. But then to compete with its other two competitors, it has reduced the price considerably, making it highly competitive. In fact, the price drop has made this wallet the most affordable and thus increasing its popularity. 

Conclusion

The KeepKey hardware wallet is a well designed and user-friendly wallet, which is also highly affordable. Even though it is on the bulkier side, it is a product that is worth owning as you will not be carrying it in your pocket for safety purposes. KeepKey is supporting more and more coins and is surely going to break away from its competitors in the near future. 

Frequently Asked Questions (FAQ)

  1. Is KeepKey Safe?

KeepKey is one of the most secure hardware wallets for cryptocurrencies.

  1. What is KeepKey?

KeepKey is one of the leading hardware wallets for cryptocurrency with support for more than 40 digital currencies.

  1. What coins does KeepKey support?

KeepKey supports multiple cryptocurrencies, of which the major ones are Bitcoin, Ethereum, etc.

  1. How do I use the KeepKey wallet?

Setting up the KeepKey hardware wallet is simple and is the best way to start using a KeepKey wallet.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!