Hardware storage for cryptocurrency has its ups and downs. On the one hand, precious data could be lost, similar to Bitcoin Play’s account of James Howell’s hard drive.
Still, it is one of the safest ways to keep your coins intact. The growing threat of mobile and desktop hacking cannot touch a cold storage solution, after all. That is why many experienced traders and investors keep their assets in isolated hard drives. What you might not know is which cold storage service to choose.
You see, the best wallets are designed to hold, secure, and protect your account from both online and offline intrusion. You cannot simply move them to a USB and that’s that. This is why many cryptocurrency users enjoy KeepKey. It is a popular choice,and is reputed as one of the safest hardware wallets around.
In this KeepKey review, you will learn about the different features of this technology. This will give you an idea of why people trust the application.
What Is KeepKey?
KeepKey is a hardware wallet designed to store all cryptocurrency assets in a secure drive. Released back in 2015, it has become one of the most popular choices in the industry today.
It can be used with Windows, MacOS, Linux, and Android devices. The product started out at $129 and is still pricier compared to other wallets, even when it was reduced to $99.
At first glance, you might mistake the KeepKey wallet with a regular external drive. What makes it stand out is a 3.2” LED screen, which activates upon setup and plugging in.
This screen is the talk of the town because other products aren’t as sleek or well-designed. Appearance-wise, KeepKey is a standout attraction.
Each device comes in its own box with a tight seal for added protection. The box itself has a cardboard casing for the wallet.
Aside from the LED screen, the device also has a power button, the only other physical feature. You also get a USB cable with your delivery.
Setup and Use
When you first get the KeepKey device, you’ll need to plug it in via a USB cable to your computer. After booting up, you’ll be asked to either input a passphrase or update the firmware.
Setting up passphrase is ideal for those who have previously lost or wish to transfer their accounts. First-time owners will have to update for a new account.
While you will need to download new software to use the new hardware, do not worry about space. KeepKey only needs two programs, one for generating wallets and the other for using them.
Once you update the firmware, you will be given a 4-digit PIN number as your password. You can then name and set up your own account.
Setting up your hardware wallet should be no problem, but some first-time Bitcoiners can get lost in the process. Here is a video on how to setup KeepKey hardware bitcoin wallet:
Buying and Selling
Of course, the wallet would not be as effective without a proper transaction system. Thankfully, this KeepKey review tested out all possible functions.
After you set up your account, you can start to send money to the address. Transactions start at 3 cents, although they may go up for higher transfers.
You can conduct different transactions, depending on what cryptocurrency you want to use. Aside from Bitcoin, you can also store your Bitcoin Cash, Ether, and other supported currencies.
Every possible device can be affected by a hacker or scammer. For example, this Nine article tells a story of how some have developed mass-text scams to hijack cryptocurrency accounts through SMS.
To keep you safe, KeepKey requires your PIN and/or mnemonic passphrase to be activated. So, even if the device itself is stolen, no one can access it.
An added feature is a recovery sentence. This 12-word passcode is generated on setup and can help you get your private keys back if the device gets stolen or lost.
Some people can forget their passcodes, which is another problem altogether. A quick search online will show just how many users have lost access to their Bitcoin because of missing drives or passcodes.
The development team kept this in mind and included a recovery sheet with the bundle. It is stored neatly within a leather pouch and comes with the device.
The team encourages you to write your codes on this sheet in order to help you keep track of them. It should be noted that this recovery sheet should be kept at a secure location just in case.
4.0 out of 5 stars
In this KeepKey hardware wallet review, you are likely to see it as a secure and easy-to-set-up cold storage wallet. It comes with a handy recovery sheet, USB cable, and a nice design that includes a nifty LED status screen.
Aside from this, the wallet also provides top-notch security. With four different passcodes, including a 12 word key and a hint system, protecting and recovering your coins is easy.
While transactions are relatively affordable, they are currently limited to six different cryptocurrencies. These may be the most popular, but it may deter you from using the solution if you are investing in other cryptocoins.
- 3.2” LED screen with high-definition
- Sleek, smart casing design
- Access to the most popular cryptocurrencies, including:
- Multiple security passcodes, including:
- 12-word recovery sentence, for lost or stolen devices
- Private key for access
- PIN code for account activation and login
- Operates on different operating systems, including Android and Linux
- Multiple accounts within a device
- Recovery sheet (unless you’re confident in your memory)
- Limited cryptocurrency storage and access
- Downloading programs for full setup of account
- Large size makes it easy to spot, harder to carry
- Price for wallet is higher, compared to alternative choices
Through this KeepKey review, it is easy to conclude that KeepKey is an eye-catching piece of technology. It stands out thanks to a sleek design that incorporates a large LED screen into its streamlined casing.
Protection is not an issue, as KeepKey lets you set up four different types of passwords for access. Even if someone stole the device, they would not be able to access your coins all that easily.
The downside to the device is that it is easy to spot, so that can make them an easy target for people who are aware of the device’s true nature. You are also going to pay quite a bit more for its usage, compared to other options.
For those willing to spend on a quality wallet, KeepKey is just for you. With strong security measures and a standout design, your Bitcoins are as safe as they could be.