KeepKey Multi-Currency Hardware Wallet Review

Inspecting Forklog’s office stockroom the other day, we’ve discovered a mysterious black box containing (almost) new hardware cryptowallet manufactured by U.S.-based company KeepKey. Is it capable of competing with the famous triumvirate of Trezor, Ledger, and Case? Well, there’s only one way to find out.

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The very first moment you see KeepKey, it wins over with its solid box protected with holographic stickers. Its contents are quite standard though: the wallet itself, a wrapper, a USB cable, a user manual, a data recovery card, and a warranty certificate.

The wallet’s design is minimalist and stylish. Still, the wrapper was too small for the wallet that is is obviously bigger than its peers (9 cm long, 3.5 cm wide.)

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The wallet’s setup was fast and easy.

To start working with the wallet, you first have to download two Chrome extensions. After the update, the user is asked to set a PIN. A virtual numpad is displayed on the screen only and is randomized to every authorization, which makes it impossible to stea your PIN even for spyware. We’ve already seen a similar protection layer in Trezor wallet.

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You could say that KeepKey mostly follows the standards set by its predecessors. The device generates a mnemonic phrase one may use to recover the account. Traditionally, the source code is open, and cross-platform support is in place.

However, KeepKey also has a number of unique features. Remember, it’s not a mere bitcoin wallet; it’s a multi-currency wallet supporting four different cryptocurrencies.

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Inside the wallet, you can create separate accounts to avoid mixing up the assets you receive. This way, you can create one account for reception of payments, one for assets storage, and one for your daily operations. However, creating the first supplementary account requires having some assets in your basic one.

Transferring money from the wallet is phased to observe security measures. A transaction would require a PIN, confirmation of the receiving wallet address, and confirmation of the transmitted amount – all on the wallet’s display.

To sum it up, KeepKey doesn’t offer anything revolutionary in terms of security, and just follows the path beaten by its competitors. Being a newbie on the market, it hasn’t yet earned the reputation of the industry’s sharks, Trezor, Ledger, and Case.

Notably, the wallet’s price tag ($99) is obviously higher than that of some of its competitors. Still, KeepKey looks great and offers a set of interesting features, including multi-currency and multiple accounts support. All in all, it’s a worthy product for any crypto-enthusiast – at least if the price won’t scare you away.

If you use KeepKey, don’t hesitate to share your experience in the comments section below.