Cryptocurrencies have truly democratized money, albeit in the digital form. With transactions rapidly growing on the decentralized ecosystem and quicker turnarounds, there couldn’t be a better time for you to begin your crypto journey if you haven’t already. This post discusses the KeepKey hardware wallet.
Crypto wallets merely started as devices, software, and programs meant for the sole purpose of storing cryptocurrencies. However, over the last few years, they have come a long way and offer crypto users a bunch of other functionalities and use-cases. For instance, they can now offer functionalities such as encrypting signing information, trading coins directly, etc. The market is awash with myriad wallets, each promising a host of features and functionalities. KeepKey is one of them, and in this article, you will get to know more about it.
What is KeepKey?
KeepKey is one of the most popular hardware wallets used to store cryptocurrencies. It was launched by Darin Stanchfield in 2015. This wallet supports more than 40 different cryptocurrencies and is best for people who want to invest their money in trending crypto assets in a safe and safe environment.
Why Should You buy KeepKey?
If you are looking for the most extensive hardware wallet, choosing KeepKey to store cryptocurrencies will be ideal. Various crypto investors look for hardware wallets that show the QR code on the screen of the device. KeepKey is one such wallet that allows users to use QR codes with easy accessibility. KeepKey has been in the business for a long time to understand its users’ needs and hence have their attention fixed on continuous qualitative improvement, thereby enhancing the consumer experience.
Key Features of ‘KeepKey’
Following are the key features of the KeepKey hardware wallet –
- Hardware and Operating System Compatibility: You can access this hardware wallet using Windows, Linux, and OS X. Those who wish to store crypto in hardware wallets using Android or iOS can also start using KeepKey.
- Convert Coins within the wallet: Crypto investors can directly trade tokens using their KeepKey wallets. You won’t have to create another account to trade coins. Another handy feature that reduces turnaround times and helps users trade efficiently.
- Supported Cryptocurrencies: Most popular cryptocurrencies are supported in the KeepKey hardware wallet. If you are looking to invest the money only in popular crypto tokens, there should not be any issue while using this wallet. This is a major feature that plagues a host of other wallets. A cryptocurrency environment is vast, and with newer coins added to the list, wallets must become compatible with them.
Key Security Features of ‘KeepKey’
Some of the key security features that set apart KepKey wallet include:
- PIN Protection: Unlike other hardware wallets, KeepKey will shuffle a 9×9 grid of the digits. As a new user, you have to match it using the cursor on the computer that was connected with the device. Your device will stay protected by this PIN from unauthorized access.
- Recovery Seed Words: When you forget the PIN and can’t access the cryptocurrencies, this feature can help you restore it and all other data related to cryptocurrencies in the wallet. Even if the KeepKey gets destroyed, you can enter the recovery seed words in another hardware wallet to regain all the cryptos.
- Passphrase: Another security feature you will find in KeepKey is passphrase. You can include additional words in the 24 series of words to easily recover the data and cryptos in the wallet.
What’s in the Box?
- Warranty and Regulatory Information
- KeepKey device
- Recovery Phrase Backup Card
- Type-C Nylon-Braided USB Cable
How to Use KeepKey: Step by Step Instructions
Step:1 – Set up the device
- Visit https://shapeshift.com/keepkey on an updated browser. The URL will redirect you to keepkey.shapeshift.com/get-started and read the instructions mentioned on ShapeShift’s website.
- Before pairing the KeepKey device, you have to create and confirm the account using a valid email address. You might have to submit to KYC practices in order to pair the device with ShapeShift.
Step:2 – Install the latest firmware
- Using ShapeShift’s website, you have to install the latest firmware. Then, you have to set up the KeepKey wallet from the Chrome plugin is created for KeepKey users.
- Create a seed phrase or restore the KeepKey wallet using the previous one. Make sure to remember the recovery seed phrase because it will be required in case of any damage to the device.
Step:3 – Use the main interface
After setting up the device, you can access the main interface of the KeepKey wallet.
Step:4 – Check Wallets and Accounts
Step:5 – Make Transactions
Select an account to send and receive cryptocurrencies. You should enable QR codes from the device’s screen to easily receive crypto coins and tokens in the wallet.
KeepKey Pros and Cons
|Reasonably Priced||Limited App Capacity|
|User friendly||No Multi-Signature Capabilities|
|Passphrase Support||No Way to Export Transaction History|
|Wallet must be linked for all operations||Device Doesn’t Automatically Time Out|
|QR Code Supported on Device’s Display||Indirect Encouragement of Address Re-use|
|Open Source||No Validation of Change Addresses|
KeepKey by Shapeshift offers a plethora of practical features which you can take advantage of. However, the most stand-out feature for which KeepKey has become a preferred choice among its users is their focus on security. Another feature that makes it a go-to wallet is its easy-to-use interface. It is compatible with beginners who wish to gain experience in the cryptocurrency domain. KeepKey wallet is also best for new crypto investors because of its easy accessibility.