- 1 KeepKey Review: What is ShapeShift?
- 2 KeepKey Review: PROS
- 3 KeepKey Review: CONS
- 4 What comes in the package?
- 5 How to start using KeepKey?
- 6 KeepKey Analysis: Conclusions
If you are looking for a safe place where you can “store” cryptocurrencies, probably already came across with cool wallets. If so, this analysis of KeepKey it might be just what you need right now.
KeepKey is a best-known hardware portfolio. However, is it really a good and reliable product? In this KeepKey review, I will respond to these and many other questions, including functionality from the wallet, the main benefits and drawbacks, prices, KeepKey supported currencies, and so on.
In addition, you will find all the necessary information about how to configure the device, send e to receive active.
We'll begin this review of the KeepKey portfolio by finding out more about the company.
quick summary: KeepKey is a hardware wallet that features a sleek, modern design. The wallet is easy to use, offers unique security measures and customer-friendly prices. The wallet itself can be easily managed for your mobile device. However, the main problem is that it only supports 40 cryptocurrencies.
Pros / Cons
- Secure hardware wallet
- Easy to use
- attractive price
- Supports only 40 cryptocurrencies
- can be heavy to carry
KeepKey Review: What is ShapeShift?
The Shapeshift was founded in 2014 na Switzerland by Erik Voorhees. The company was able to attract a decent amount of funding that allowed ShapeShift to boost its business.
The company allows you to exchange fox tokens for free, provides two different platforms — the Beta version and the classic, plus other useful tools. Now, as you've probably already seen, ShapeShift's most popular product is KeepKey - an offline wallet which will help protect your cryptocurrencies from hackers.
What I find really interesting is that when the KeepKey wallet was created, it was costing $239. However, the price has dropped significantly over the years and now KeepKey costs just $49.
Now that we've covered this information, let's jump into the comprehensive review of the KeepKey hardware portfolio.
- Can be managed from a mobile device
- very secure
- Supports over 1500 cryptocurrencies
- High level security
- Touchscreen User Interface
- Easy to configure
1 Year Warranty!
- Secure hardware wallet
- Easy to use
- attractive price
$54 in free bitcoin
- Easy to use
- Free to register and maintain cryptographic coins
- decent rates
- Support for multiple cryptocurrencies
- very secure
- Support for SegWit and Bech32 addresses
KeepKey Review: PROS
Let's start with the good points.
Relatively secure — cool wallet.
First, it's important to understand that when it comes to choosing the best cryptocurrency wallet for your needs, the most critical factor is security. It doesn't matter if the wallet is visually appealing or super easy to navigate if your assets can be stolen in a eye blink.
security generally depends on the type of portfolio. To help you understand better, I'd like to introduce you to the different types of portfolios that exists:
- Online wallets. Online wallets are the least secure. When keeping all of your coins online, you should really trust the supplier. Even though most online wallets don't store your private keys, that doesn't mean your coins can't be stolen. Also, when it comes to hackers, online wallets are the most vulnerable. So, unless you keep very small amounts of cryptocurrencies, you should think about safer storage.
- Software / app portfolios. Software portfolios are good when you do daily trades. They are more secure than online, however they are not as good as hardware wallets.
- Hardware Wallets. If you are storing large amounts of cryptocurrencies and don't want to lose them, a hardware wallet is one of the most recommended options for you. As your private keys are stored offline, you are protected from hackers.
- Paper wallets. A paper wallet is considered the safest, however if you lose it by accident, all your coins will also be lost.
The good news is that KeepKey is a hardware portfolio, therefore, it is one of the safest stores for your assets. That said, even if your computer is infected with malware, hackers won't be able to steal your cryptocurrencies.
In addition to being the cool wallet, KeepKey also provides a PIN code e recovery phrases. Ledger Nano S and other reliable hardware wallets feature the same security measures.
The KeepKey wallet has this unique feature where change your pin code numbers On occasion. In this way, the malware cannot copy your code and steal your cryptocurrencies.
when it comes to the recovery phase, It's important to understand that if someone discovers these 24 specific words, that person can restore your wallet e steal all your assets. That said, you must keep your seed phrase safely hidden.
Now, although this is highly unlikely, let me explain this for the sake of clarity. If a hacker manages to access your online wallet somehow and wants to steal your assets, there is this button on your device that you should press and hold to confirm the transaction.
Observation: if you are concerned about security, you should never buy hardware wallets from third-party vendors because if you receive a tampered device, you could lose all your funds.
I couldn't find more details on the technical aspects related to security, however we'll come back to this topic one more time in this KeepKey review.
Elegant and friendly design
most of hardware wallets are relatively complicated to use. However, usability is one of the advantages worth mentioning in this KeepKey review.
One of the great advantages over KeepKey is that it has only one button. This button is used to turn the device on and off. All other processes can be managed through the mobile app. This includes entering your PIN code and setting the initial recovery value.
Now, you've probably noticed that KeepKey is one of the largest cryptocurrency portfolios from the market. When compared to Trezor and Ledger, it is more than twice as big. Here are the KeepKey dimensions:
- Height: 38,0 mm
- Width: 93,5 mm
- Depth: 12,2 mm
One of the main advantages that KeepKey has over other hardware wallets is a wide screen. she lets you see the entire cryptocurrency address without the need to scroll back and forth. Based on cold wallet users, it is one of the aspects that strongly improves usability.
However, due to the fact that KeepKey has a huge screen, it is more prone to scratches. But as the screen is protected by a polycarbonate box, there is no need to worry about physical damage that could affect device functionality.
If you prefer wider screens, you can also check it out. Ledger Nano X. Unlike the company's first version, it has a larger screen that allows you to see the entire cryptocurrency address. Just like KeepKey.
Finally, the KeepKey installation process it's relatively fast. Furthermore, it won't be difficult to send and receive assets. I'll walk you through these processes at the end of this KeepKey review.
At the moment, the KeepKey wallet costs only $49, however, there were days when you had to pay over $200 for the same device. The company likely lowered prices due to competition.
Let's take a quick look at the competitors' prices:
- Nano Ledger S-$59
- Ledger Nano X-$119
- Vault One - $59
- Vault Model T - $159
As you can see, competitors keep very similar prices when it comes to your first models. However, if you want to get more advanced versions, it will cost $119 for the Ledger Nano X and $159 for the Trezor Model T.
That said, KeepKey maintains a below average price which seems completely fair to me. When it comes to choosing a reliable model that offers a similar price, I would definitely recommend Ledger Nano S.
KeepKey Review: CONS
Now that we've covered all the positives of this KeepKey wallet review, it's time to take a look at the wallet's downsides.
Limited number of currencies supported by KeepKey
It's pretty obvious that when it comes to the most popular cryptocurrencies, it's easy to find wallets that support them. However, if you like less conventional coins, it might not be so easy.
The sad part is that KeepKey only supports 40 cryptocurrencies. Although you can find all the coins and primary tokens to choose from, it is very unlikely that you will be able to send, store and receive less popular tokens. Here they are some of the supported currencies:
- Bitcoin Cash
- Various ERC-20 tokens
- etc ...
Compared to the Ledger portfolios that support more than 1000 cryptocurrencies, this might seem like a small number.
However, if you have a specific currency in mind, you can complete the Application Form. Asset Request and hope that there are more people interested in this cryptocurrency. Although not perfect, there is at least one possibility.
Now that you know all the information about KeepKey compatible currencies, it's time to go further.
heavy to carry
As I mentioned earlier in this KeepKey analysis, it's bigger than any other cryptocurrency wallet in the market. While its huge screen improves usability, so is it. too heavy to load.
This problem may not be as significant if you keep your wallet hidden at home; however, if you prefer to carry it in your pocket (which is not recommended), it can be a little uncomfortable.
The KeepKey wallet weighs 54g, then you must decide for yourself whether this is a problem or not.
What comes in the package?
When KeepKey is delivered to you, that's what you will find in a package:
- KeepKey wallet
- A nylon USB cable
- Recovery Phrase Backup Card
- Warranty Information
- KeepKey Instruction Manual
Now that we've covered all the pros and cons of this KeepKey wallet review, it's time to figure out how to use it. I would like to start showing how to configure KeepKey and then move on to sending and receiving assets.
How to start using KeepKey?
Before starting to do anything, you will need to have:
- Chrome Browser (make sure you have the latest version)
- KeepKey hardware wallet
- USB cable
- KeepKey Client App (you can get and access it through the Google Chrome app store).
- Recovery card (included in package)
After having everything you need, follow each of the steps:
Step 1: Download the KeepKey Client app
Step 2: Open the application and click on “Initialize KeepKey"
Step 3: add the name/label of your device.
Step 4: select and confirm your PIN. It can contain up to 9 digits. It is recommended to include at least 6. Watch the screen carefully when choosing the digits as they will be changed before confirmation.
Step 5: it's time to write your recovery phrase. THE sentence consists of 12 words. It is crucial that you spell all the words correctly. After doing this, hold the button to confirm.
Step 6: that's it. You will now be taken to your dashboard.
Even though you already know how to get started with KeepKey, this KeepKey review isn't over yet.
How to send?
Before shipping your assets, you need to make sure you have the required amount. If that's the case, please continue to follow this guide:
Step 1: at the top of the ShapeShift page, you will find “Send”, click on it.
Step 2: now you need to select an asset you want to upload. You can find the required asset using the search tool or simply scrolling through the available list.
Step 3: select the asset you want to send and click “Next".
Step 4: fill in the data, including the recipient's address and the amount you want to send and click on "Continue".
Step 5: confirm that the information provided is correct and click “Send".
Step 6: enter your PIN and click “Send".
As I told you, sending cryptocurrencies using KeepKey requires minimal effort.
How to receive?
The final aspect to be included in this KeepKey review is the asset receipt process. Here's how to do this:
Step 1: click in "Receive” at the top of the ShapeShift page.
Step 2: just like when sending the coin, find the cryptocurrency, select it and click “Next".
Step 3: now you need to confirm that the address you see on your KeepKey matches the one on your computer screen.
Step 4: copy the full address and send the assets.
Since KeepKey is so simple to use, receiving assets won't be a problem.
KeepKey Analysis: Conclusions
So, as promised at the beginning of this KeepKey review, I've answered all of the most important questions about this portfolio.
KeepKey is a hardware wallet that comes with some excellent security features.
Because it's a cool wallet and your assets are stored offline, it is one of the safest storage media for your assets.
KeepKey is bigger than other popular cryptocurrency wallets. Although relatively heavy, a wide screen greatly improves usability. The wallet is easy to set up, send and receive assets.
The main problem with KeepKey is that it supports only 40 cryptocurrencies. Compared to Ledger Nano S and X which support 1000+ coins and tokens, this seems very limited.
Hope you found this KeepKey review helpful and already know if this wallet is right for your needs!
The contents published on this website are not intended to provide any type of financial, investment, trading or any other form of advice. Forexdigital.net does not endorse or suggest that you buy, sell or hold any type of cryptocurrency. Before making financial investment decisions, consult your financial advisor.