KeepKey is a bitcoin hardware wallet with advanced security against virtual and physical theft.
KeepKey is a secure hardware wallet that provides access to the world’s leading cryptocurrency assets. Launched in 2015, KeepKey uses advanced technology to provide users with one of the most secure environments for storing their cryptocurrencies. As a Hierarchical Deterministic (HD) wallet, KeepKey can be thought of as a miniature computer designed specifically for storing private keys.
As an HD wallet, KeepKey allows you to generate and store an unlimited number of private keys. A “private key” is a sophisticated form of cryptography that allows you to access your cryptocurrency.
In addition to bitcoin, the KeepKey wallet enables the storage and transaction of a variety of cryptocurrencies, including Ethereum, Litecoin, Dash, Dogecoin and Namecoin. This is ideal if you’re using multiple cryptocurrencies or looking to build a portfolio of digital assets.
KeepKey integrates with the wallet software on your computer by taking over private key generation, private key storage and transaction signing.
- Operating systems: PC, Mac, Linux and Android
- Software wallets: Works with Electrum, MultiBit and Mycelium.
How much does it cost?
When KeepKey launched back in 2015, it sold for $239. The price tag has since come down considerably to $99, but is still more expensive compared to other Bitcoin hardware wallets.
Which currencies can I store?
How do I add currency to my wallet?
Getting started with KeepKey is as easy as downloading two Chrome applications – one for generating a wallet and one for connecting to KeepKey through Chrome. After the initial setup, you simply add an account and select the cryptocurrency you want to add or exchange. This enables you to deposit cryptocurrency and exchange one for another (e.g. you can exchange an amount from your bitcoin account to your Ethereum account).
How do I make or receive payments with my KeepKey?
The process for sending and receiving payments does not change with KeepKey. The only difference is that your computer no longer stores the private keys, which means it is not able to sign transactions. Instead, transactions must be passed to the KeepKey in order to be signed. Once a request is received by the KeepKey, users are notified and prompted to make a manual confirmation. Once approved, the transaction is signed and returned to the computer client to be announced on the cryptocurrency network (e.g. bitcoin, Ethereum, etc.).
Although users don’t need to install any drivers to use KeepKey, they need one of the special software applications mentioned above or the KeepKey Chrome app.
How secure is KeepKey?
KeepKey is considered one of the most secure HD wallets on the market. As such, it has several security measures.
- Private Key. Your private key is stored directly on KeepKey and never leaves the device.
- PIN Code. Your Personal Identification Number prevents any unauthorized user from viewing your balances or conducting transactions.
- Recovery Sentence. The entire wallet is backed up with a 12-word recovery sentence that is generated on setup. This sentence can be used to recover your private keys in the event your KeepKey wallet is lost or stolen.
- Passphrase: Additionally, users have the option of selecting an additional word that is attached to the recovery sentence. KeepKey does not recommend using the passphrase feature unless you understand the consequences of doing so.