Welcome to my Keep Key Review. KeepKey is a cryptocurrency hardware wallet made for cold storage of your valuable digital assets.
TL:DR KeepKey Review
For ~$79 USD ($105 CAD or €71) you can store your own private keys for Bitcoin, Litecoin, Ethereum and the top 50 other cryptocurrencies.
The KeepKey comes with a large screen to confirm every transaction on the secure hardware device.
– 12, 18, or 24 seed word list
– PIN protection
– Passphrase Option
– On device transaction confirmation
Direct integration with the ShapeShift non-custodial trading platform/wallet to buy, sell, trade, HODL your cryptocurrency directly from the hardware device.
In This KeepKey Review You’ll Find:
- ShapeShift (The Company Behind KeepKey)
- What is the KeepKey Hardware Wallet?
- KeepKey Secured ShapeShift Platform
- KeepKey Supported Cryptocurrencies
- What’s in the Box
- KeepKey Price
- KeepKey Pros and Cons
- KeepKey User Reviews
- Markshire Crypto Conclusion On The KeepKey Hardware Wallet
ShapeShift (The Company Behind KeepKey)
Shapeshift is the company behind the KeepKey cryptocurrency hardware wallet. The company ShapeShift was founded in August of 2014 and its primary purpose was to offer a way to directly and instantly exchange bitcoin for altcoins. Back in 2014 there was a lot of friction in trading Bitcoin for altcoins; however, since then ShapeShift has developed a platform that allows direct exchange from one blockchain to another, as easy as digitally native asset exchange should be.
Being a non-custodial platform, ShapeShift acquired KeepKey (a premium hardware wallet provider) as a complementary asset to their growing cryptocurrency company.
What is the KeepKey Hardware Wallet?
The KeepKey hardware wallet is a small, physical, handheld device used to store your cryptocurrency private keys, just like other hardware wallet devices.
Like any hardware wallet, the KeepKey gives you full control (and responsibility) over your bitcoin and other cryptocurrency assets/funds. KeepKey was bought by ShapeShift to directly integrate with the ShapeShift online trading platform; however, it is also a stand-alone hardware wallet that does not require integration with the ShapeShift trading platform.
With KeepKey you can buy, sell, trade, hodl, and track your portfolio.
The KeepKep is compatible with: Windows PC, Linus and Mac and Android.
- On-device transaction verification
- Open-source code
- Seed word lists 12, 18, or 24 words long
- PIN protection
- Optional passphrase protection.
The KeepKey device features an OLED display with touch buttons to confirm transactions on the device. This helps prevent in-between attacks where bad-actors try to intercept a transaction. The secure environment of the KeepKey device generates your wallet and private keys. No other software is able to be downloaded/installed on the physical KeepKey device, thanks to this secure environment.
The KeepKey wallet is open-source and built deterministically, which means that anyone anywhere in the world can audit the code and verify that the software does not have bugs hidden or any loop-holes for backdoor access to your private keys. This does not mean that anyone can edit the software on your KeepKey, it just means that they can read it.
Furthermore, the KeepKey supports 12, 18 and 24-word recovery seed lists. The KeepKey generates the list during the initial set up, but never again. Always write it down exactly, and in order. Always make more than one hard copy (zero digital copies) of your seed word list and keep them safe. Remember to never make a digital copy of your seed word list.
Additionally, the KeepKey has PIN protection to keep your device locked even if you lose it or it is stolen. There is also an optional passphrase support option to add an additional layer of protection for your cryptocurrency assets.
- Product dimensions: 0.2 x 0.1 x 0.1 inches
- Weight: 1.92 ounces
- Colour: black and Anodized Aluminum
- Manufacturer: Key Holders, LLC
KeepKey Secured ShapeShift Platform
ShapeShift is a secure, non-custodial, online trading platform and wallet app that operates 24/7. Since it is non-custodial it integrates with your hardware wallet (currently supports KeepKey and Trezor with Ledger support coming soon) so that you can always custody your cryptocurrency assets. ShapeShift also (apparently) integrates with your bank account so that you can purchase Bitcoin and select other assets directly from your bank account, although I’m not sure which bank/country.
On ShapeShift you can buy, sell, send, receive, trade, HODL and track your portfolio of most major cryptocurrency assets. ShapeShift utilizes CoinCap.io API to provide real-time trading information on their platform. Their website also claims to have 24/7 Customer Support.
KeepKey Supported Cryptocurrencies
The KeepKey hardware wallet natively supports the digital assets listed below:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Dogecoin (DOGE)
The KeepKey hardware wallet also supports the following ERC-20 tokens:
- AELF (ELE)
- Aeterenity (AE)
- Aragon (ANT)
- Augur (REP)
- Basic Attention Token (BAT)
- Binance Coin (BNB)
- Bancor (BNT)
- Civic (CVC)
- Crypto.com (MCO)
- CyberMiles (CMT)
- Dai (DAI)
- Decentraland (MANA)
- DigixDAO (DGD)
- District0x (DNT)
- Edgeless (EDG)
- FirstBlood (1st)
- FunFair (FUN)
- Gifto (GTO)
- Gnosis (GNO)
- Golem (GNT)
- ICONOMI (ICN)
- IOST (IOST)
- iExec (RLC)
- Maker (MKR)
- Melon (MLN)
- Metal (MTL)
- Numeraire (NMR)
- OmiseGO (OMG)
- Polymath (POLY)
- Populus (PPT)
- Qtum (QTUM)
- Ripio Credit Network (RCN)
- SALT (SALT)
- SingularDTV (SNGLS)
- SpankChain (SPANK)
- Status (SNT)
- Storj (STORJ)
- SwarmCity (SWT)
- TenX (PAY)
- Tether (USDT)
- TrueUSD (TUSD)
- WeTrust (TRST)
- Wings (WINGS)
- Zilliqua (ZIL)
- 0x (ZRX)
What’s In the Box
The simplicity of the device is reflected in the clean design and necessities only package:
- KeepKey Hardware Wallet
- USB cable (woven nylon)
- Recovery Seed Backup Card
- User manual
CAD ~ $105
EUR ~ €71
GBP ~ £65
* All prices above were based on the USD $79 and will vary based on exchanges rates when you are reading this.
For the price of $79 USD, it is a very reasonable buy and less expensive than the Ledger Nano X and Trezor T. Whereas the Ledger Nano S, Trezor One and BitBox are relatively similar price points.
KeepKey Pros and Cons
|KeepKey Pros||KeepKey Cons|
|– On-device display screen|
– Secure environment to keep your private keys safe
– Integrates seamlessly with ShapeShift
– Directly exchange cryptocurrency from the device.
– Option for 12, 18 or 24-seed word recovery list
|– Does not support XRP|
– Larger than most other handheld hardware wallets
– Web-based app
– Not very mobile (no BlueTooth support)
KeepKey User Reviews
On Amazon, the KeepKey hardware wallet has received an overall review of 3.7/5 stars based on 389 customer reviews. I generally like to see over 1,000 reviews but that is just our luck. Comparatively the Ledger Nano S also received the same rating out of 918 Amazon customer reviews.
Of the reviews I’m posting below some are over a year old and there seem to be two major themes in the complaints: (1) The Chrome Extension software; (2) Customer/cryptocurrency support
The Chrome extension software has some flaws because KeepKey/Shapeshift are depending on a third party to support their software and are exposed to risks of changes in policy or tech support.
There were a few complaints of delayed customer support in the amazon reviews; however, there were also many compliments of the support. I must mention that the compliments to customer support were on more recent reviews which leads me to think that the company took heed of the negative customer support reviews and adjusted accordingly. Moreover, there were also complaints of cryptocurrency support, particularly during the BTC/BCH hard fork. Also, there remain complaints that the KeepKey does not yet support the native digital asset XRP.
Overall, I think that the KeepKey hardware wallet is good, but has some improvements to make. Like most good startups they have hiccups, but make improvements accordingly which seems to be happening with KeepKey/Shapeshift.
Markshire Crypto Conclusion on the KeepKey Hardware Wallet
Things that I like about the KeepKey is its integrate with Shapeshift to buy/sell/trade cryptocurrency directly from the hardware wallet. However, it does not support XRP. While XRP is only one cryptocurrency, it is the 3rd largest and one of the most advanced and well-integrated into the real world (Ripple has over 250 bank and money service business partnerships). And it’s not so much that they don’t support XRP, but its the fact that they haven’t added support for one of the largest, most popular cryptocurrencies… what are they doing? Same question regarding their delayed support for Bitcoin Cash. I’m not even a fan of Bitcoin Cash, but what took this crypto company so long to add support to their wallet? (Yes they support BCH now).
The KeepKey is a good budget buy.
Despite some of the customer service and tech support issues, I think that if you’re on a budget the KeepKey is a decent hardware wallet. The BitBox is also great but supports significantly fewer cryptocurrencies, making the KeepKey superior in that regard.
As always please give your comments below! Tell me what you think of the KeepKey, have you used it? Would you want to give it a try?