KeepKey is basically a clone of Trezor, but more beautiful - and a good deal more expensive.
- Cold Storage
- Trusted Node
- Beautifully-designed Trezor clone
- Now only $99
- Keep key web wallet poorly designed, use alternatives
KeepKey is a second screen wallet that connects via USB. Each and every transaction must be approved on Keepkey’s OLED display. Keepkey makes it a virtual impossibility for hackers or viruses to steal your private key.
A fork of bitcoin trezor, which is the benchmark in hardwallet security, KeepKey offers a more sturdy feeling product with the same security – at a premium price. Both Trezor and Keepkey utilize the same logic to protect private keys and are compatible with the same external wallets – they are essentially different iterations of the same product. Trezor will get you to the same place just not in KeepKey style. Whether that is worth $140 is a matter of taste and budget. For me it is not – we prefer trezor.
How it works
Keepkey works with two different chrome extensions – the keepkey wallet and the keepkey proxy. The former app is the actual wallet, while the latter app is the bridge connecting the wallet to the keepkey hardware. Why, one might ask, are two apps required in the stead of a single app, an app serving both as wallet and connector? I don’t know. Once you’ve downloaded both apps, a modified hamburger icon – it actually looks like a stack of pancakes – will appear in the corner of your chrome browser. Accessing the wallet is as simple as plugging in your keepkey and clicking on the pancakes.
So, after clicking on the pancakes for the first time, select “initialize keepkey” and name your device. You will then need to select your pin. You are protected against keystroke loggers, as keepkey randomizes nine digits on your hardware device in the shape of a dial pad, and setting the pin, and any subsequent entering of the pin, is done by clicking a corresponding position on the web wallet. You can see how this looks below.
Next, the keepkey will display a 12-word mnemonic backup. Be sure to write this down in the enclosed recovery booklet, and hit the confirm button. This will complete the installation of your private key, which has never exited the offline, air-gapped hardware product.
The Keepkey wallet interface
the keepkey wallet, which drops down from the top of the screen when clicking on the keepkey pancakes, presents an extremely simple interface with four different tabs – send money, receive money, transactions and device settings.
To send money, paste the recipient address in the appropriate field, and determine the speed at which you would like the transaction to process. You will see a choice of three different speed with corresponding fee amount – 1 hour, 30 minutes and 10 minutes. You’ll next be asked to input the pin code from the keepkey random pin generator.
After this, the transaction will show on the keepkey and you’ll need to confirm by pressing the confirmation button. When the transaction has gone through, it will be recorded within the transaction tab.
Keepkey can be integrated with the greenaddress wallet through the chrome application. You can find a step by step guide for this here. Once integrated, you can plug keepkey directly into your Android device using a usb adaptor, or check in on your account balances as watch-only using greenbits from your mobile device.
OK, so Keepkey is located at the very pinnacle of the hardware security market, right alongside Trezor and Case. Why would someone select Keepkey, which retails at $239, over Trezor which does all the same stuff at $99? Keepkey is the lexus to trezor, which is a hyundai. Both get you to the same place, but it is more fun to drive the lexus. And this is not limited to the aesthetics – some find Trezor much too small and the penny-sized screen difficult to read. This leads to transactions taking a longer time to complete on average. Is this worth an additional $140? It could be to some.