Bitcoin, Crypto currency, Blockchain

Hardware Wallet Review: KeepKey

KeepKey

It provides in relevant Internet forums, Subreddits and Facebook groups, the question of a recommendation for a Hardware Wallet to store currencies to its Crypto, receives, in contrast to Ledger and TREZOR only very rarely in the name of “KeepKey”. As a subsidiary of the Swiss Shapeshift AG (known for their exchange platform for crypto-currencies) operating company KeepKey promotes her eponymous Hardware Wallet on its website as “the simple Hardware Wallet for crypto-currencies. Whether the KeepKey the competition is, in fact, in terms of “ease of handling”, and what it still could be that Ledger and TREZOR are a nose length ahead want you to “bring crypto Ticker” in the following Review in more detail.

Product data

Manufacturer: Shapeshift AG/KeepKey

Supported Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Bitcoin, Gold, and some selected ERC-20 tokens

Supported Platforms: Windows, Android, Linux, Mac

Compatibility: Electrum, Mycelium, ShapeShift, MultiBit

Interfaces: micro-USB

Screen: 3.12″ OLED Display

Scope of delivery: KeepKey Wallet, USB cable, Recovery, slips, warranty card

Input Options: Physical Button

Open Source: Yes

FIDO U2F Authenticator: no

Weight: 54

Dimensions: 38x94x12mm

Price: 129$

Unpacking and first impression

When KeepKey great value on the (simple) Design is set, you will notice already at the first sight of the packaging cartons. Kept totally in black, shines from the bottom left corner, also in black and the Logo “keep key”. Closed the whole with a seal to confirm the integrity of the Wallets, even if this is guaranteed, of course no 100% certainty that the System is not manipulated.

The packaging of the KeepKey-Wallets. Below on the left shines the Logo.

After the Opening of the (magnetically sealed) packaging, you’ll immediately notice that the black box should probably be more or less a mirror image of the actual Hardware Wallets, since this was also kept completely in black and only the “keep key”-logo shines on the left side. On the inner side of the lid, the URL is printed “www.keepkey.com/get-started in silver writing, you can begin with the establishment of the KeepKey.

The inside of the carton is printed with the “Get started”URL.

When you first take in Hand, one feels immediately the value of the Keepkey, and is Packed though at first it completely in foil. With only 54-gram weight, the device is also much easier than it looks. Overall, it makes a good first impression and also the Design with the invisible Display is very appealing, and I personally like very much. The package includes a micro-USB cable, a Recovery Seed paper and a warranty card include, in addition to the actual Wallet.

Scope of delivery

The Wallet

As long as the KeepKey is not in operation, the Display, which is located on the front side invisible. While the front is made of plastic, the back with an anodized aluminum housing. On the back is, as already mentioned, on the left side, company logo engraved on it. At the bottom of the Wallets on the left side a micro-USB port that the device is connected to the Computer. On the upper right side, sits a physical button, with the help of the Wallet is supported. Pressure point, and General processing of the button are also very good.

Front with the Display
Back with Logo

The first device

The Wallet set up, it first opens the Browser and enters the URL, which is printed on the inside of the boxes. To find a (English) instructions in nine steps. Users, which not use by default, Google Chrome, or Chromium, are first to be disappointed, because these two browsers are considered to be a prerequisite for the establishment.

Step 1) Download and install the KeepKey Client App from the Chrome Webstore.

Via a Link, which is found on the page, you can integrate the KeepKey Client into its Chrome Apps.

Step 2) restore the connection between the Wallet and PC

By means of the included micro-USB cable now the Keepkey-Wallet with the PC or Notebook is connected.

Step 3) Start the KeepKey Client App

Step 4) follow the instructions on The device to the Firmware and the Bootloader update

First of all, the USB link must be disconnected again to hold during the subsequent connecting process, the button is pushed the Firmware Update to start. To do this, a window then opens where you can start the process.

After you have confirmed by pressing a key, that the Recovery-Seed – if during the Update something goes wrong – start the process. Of course, this confirmation during the initial setup does not apply, since we have yet created no Seed. To start the boot loader Update the device must be disconnected from the cable and then re-connected.

Now the Update of the boot loader, which takes about 5-10 seconds to start. Then the device is disconnected again, and while the button is held down.

Now the Firmware Update is analogous to what about 15 to 20 seconds.
Then the PC and the device must be re-separated and re-connected. The KeepKey Client App must be closed and restarted.

Step 5) initialization of the KeepKey

In the fifth step, the device needs to be initialized now, and with a Label. This Label serves only to distinguish several KeepKeys from each other.

Step 6) – 8) Label and PIN set

Subsequently, you have to reasons the device with a PIN, before it is created, then the Backup or the Recovery Seed.
In order to assign the PIN for sure, has come up with KeepKey a particularly sophisticated System, which should allow for a safe entry. On the Display of the Wallets, a randomly generated key field is eingebledet. The actual input field in the Chrome App remains blank. The selected PIN is accordingly displayed on the Display of places of the digits. So figure it out for Malware is almost impossible, as the PIN is.

PIN on the Display
Unbeschriftetes field in the App

Step 9) generate a Passphrase

Once you have chosen a PIN, and this has confirmed, generates the Wallet with a 12-word Recovery Phrase, which is then displayed on the Display. Please note these words carefully, you have to keep it pressed again the button on the device to confirm. In contrast to other Hardware-Wallets in the Keepkey is not a choice if, instead of the 12-words prefer to have a 24-word Seed would like to use. And what is a major shortcoming for us in crypto Ticker is actually a no-go, is the fact that the Recovery Seed must not be re-entry confirmed in order to ensure that this was correctly recorded. In almost all other competing products, this is integrated with insurance by default, and is actually also a “Must-have”.
Nevertheless, you have completed the setup process with the confirmation and the Keepkey can now be used.

The KeepKey-Wallet in use

With the completed device lands directly in his Bitcoin Wallet. Here’s currencies continue to Send and Receive Crypto, in this case with Bitcoin as the default currency. Each time a new connection operation of the PC and the Wallet, first of all, the entry of the PIN by means of the already described functionality, because it has not, however, set the PIN just a little, this is for the Moment necessary.

The Software of the Wallet is kept as the outside of the Hardware Wallet is also very simple and easy. For the beginning of the function “Bitcoin receive” or “transactions” available only.

Crypto-currencies receive

To be able to Bitcoin (or, more generally crypto-currencies) is received, click on the “Receive Bitcoin” Button to generate a new receiving address, which is then displayed on the Display, as well as in the Software. The corresponding QR-Code is also displayed on the Wallet Display.

Display in the App
Display on the Display of the Wallet

If the addresses match on both the device and PC, you can use this in the normal case, without hesitation to send the Bitcoin to this address. The string is not about to write off, there is an integrated Button in the App, which is the address directly in the cache of the PC are copied. In order to generate, for example for reasons of data protection, a new address, click on the right arrow below the QR-Codes. Using the <> arrow keys can then be the addresses to navigate.

Transactions view

To be able to see whether a transaction has already been received or sent, respectively, to be able to check their Status, click on the Button “Transactions”. This leads into a transaction overview, which lists all the past transactions (both incoming and outgoing).

Crypto-currencies, send and swap

You want to send (part of) his(r) existing Coins, to choose first the Button “Send/Trade Bitcoin”

The form to send the Coins, unfortunately, is only of a very limited scope of function. However, you can still set whether you want little, medium or a lot of fees to pay so as to affect the speed. To send all the Coins at once, simply click on the arrow to top at the end of the “Amount”line.

A particularly great feature is that the Keepkey-Wallet has some other Hardware-Wallets in advance, is the ability to switch to a crypto-currency directly internally in a different. Enabling this function through the built-in own exchange platform “Shapeshift”. To swap a Coin in the other, select it first, and as the recipient you choose, however, not a receiving address, but the appropriate Account from the drop-down menu. Of course, this means that for both currencies already have an Account created.

After a recipients account has been selected, click the “Convert and send” and confirmed (as well as when Sending to an external recipient) by pressing the physical button on the device.

Conclusion

“The simple Hardware Wallet” – The Motto here is clearly program.
The Keepkey sets both externally, as well as the associated Software on rudimentary Occur. Since the Software is Open-Source, everyone wants to (and can convince) yourself of its safety. Your Private Keys leave here, as in the case of Hardware Wallets is usual, never the device. The System with the PIN input, the Read is prevented by means of Keylogger, is contrary to the lack of confirmation of the Seeds. Also that in the case of a Seed recovery, this is entered via the computer keyboard, is actually a absolute No-go in terms of safety and need for repair. Just because there is with Ledger, TREZOR or cool wallet S great Alternatives, which are also domiciled in the same price segment. Who does not interfere in this Problem, however, and the ShapeShift Integration wishes of his Keepkey for the price of 129$ directly to the Homepage of the manufacturer at this Link.

For all of you who prefer to be directly in € shopping:

In Germany, the supermarket chain REAL is the official Treaty trader for KeepKey Wallets. Your the device can order for the price of 85€ in the online store of REAL.

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