KeepKey Hardware Wallet Review – A Beginner’s Guide

Last Updated: 7/3/19

KeepKey is one of the top 3 hardware wallets around today (along with TREZOR and Ledger). In this post I’ll review the wallet from head to toe and also share my personal experience with it.

KeepKey Review Summary

KeepKey is a cryptocurrency hardware wallet that supports over 40 different crypto assets. It is beautifully designed, easy to use and comes at an affordable price.

When comparing it to its main competition (the TREZOR One and Ledger Nano X), it still lacks the coin support and company reputation. Overall KeepKey is a solid hardware wallet.

That’s KeepKey in a nutshell. If you want a more detailed review of KeepKey keep on reading, here’s what I’ll cover:

  1. What is a Hardware Wallet?
  2. KeepKey Company Overview
  3. KeepKey Design and Unboxing
  4. KeepKey Supported Coins
  5. How to Setup KeepKey
  6. KeepKey Price Tag
  7. KeepKey vs. TREZOR vs. Ledger
  8. Conclusion

1. What is a Hardware Wallet?

In 2013 a new type of cryptocurrency wallet has emerged – the hardware wallet. Basically, a hardware wallet is a piece of hardware that stores your private keys and is not connected to the Internet. This way a remote attacker won’t be able to steal your coins.

If you want a more detailed review about different types of wallets watch our complete wallet tutorial:

Due to the way hardware wallets are designed, it’s possible to use them safely even with computers infected with malware.

The first hardware wallet to reach mass Bitcoiner adoption was TREZOR with the TREZOR One. Later on came the Ledger Nano S, and finally came Keepkey.

Even though today there are multiple companies that manufacture hardware wallets, these three still remain the top choice for crypto enthusiasts.


2. KeepKey Company Overview

KeepKey was founded by Darin Stanchfield in 2015 and is headquartered in the US. KeepKey acquired the Bitcoin wallet Multibit in 2016, and was later acquired itself by Shapeshift on August 2017.

The company is headed by Darin as the CEO and Ken Hodler (yes, Hodler is his actual name) as the CTO.


3. Keepkey Design and Unboxing

The first thing you’ll notice when you get your KeepKey is how exciting the whole unboxing process is. You can tell that a lot of thought was put into the packaging and product design.

The box comes with a KeepKey seal which shows that no one has opened it before you, indicating that the device is secure.

The content of the box includes the KeepKey hardware wallet, a USB cable to connect the KeepKey wallet to your computer, a card to write your recovery sentence on and a nice leather case to keep that card in.

It may sound stupid but KeepKey’s sleek design and cool digital animation makes the experience of using it feel much better than other hardware wallets. The device itself also feels much more durable than the competition.

Even though you won’t be able to walk around with it in your pocket unnoticeably, like you would with a TREZOR or Ledger, you still need to remember that this is a hardware wallet which is used to store large amounts of Bitcoin – so why would you want to walk around with it in the first place?

The device uses the same 2nd screen protection that TREZOR and Ledger use which makes it more secure to keystroke spying.


4. KeepKey Supported Coins

Falling a little short of its competitors, KeepKey supports 40 different digital assets. The main supported coins are:

For reference, TREZOR and Ledger support over 1000 assets each. For the complete list of Keepkey supported coins click here.


5. How to setup Keepkey

Setting up your KeyKey for the first time is pretty similar to any other hardware wallet. You’ll need to download the KeepKey client from the Chrome web store, connect your device and follow the instructions you see on the screen.

The whole process, including adding PIN protection and writing down your recovery seed takes about 5 minutes.

Here’s how it’s done:

You can also use KeepKey with other software wallets like Electrum and MyCelium.

Since Keepkey was acquired by Shapeshift, there’s also a built in crypto to crypto exchange inside the wallet so you can easily trade between cryptocurrencies as shown below:


6. KeepKey Price Tag

When KeepKey first came out its price tag was extremely high ($239). Since then, the company decided to reduce it to a much more reasonable and competitive $79, making it one of the most affordable hardware wallets out there (similar to the TREZOR One).


7. KeepKey vs. Ledger vs. TREZOR

Ledger Nano X
price:
$119
Overall rating:
5 Star Rating
Trezor One
price:
$80
Overall rating:
4.5 Star Rating
Trezor T
price:
$170
Overall rating:
4.5 Star Rating
Keepkey
price:
$79
Overall rating:
4 Star Rating

When putting KeepKey up against its main competitors I personally feel it falls short of them. While the price tag and design are great, the number of coins supported and the overall company reputation don’t match those of TREZOR and Ledger.

I think the price reduction was an awesome move by KeepKey, as it can now actually compete much more aggressively. Personally, I still use a TREZOR One and Ledger Nano S as my personal wallets.


8. Conclusion

The guys at KeepKey did a great job with creating a beautifully designed, user-friendly hardware wallet. If you don’t mind the size, this is a cool product to own.

With more coins supported by the device and greater company presence in the Bitcoin ecosystem, KeepKey can definitely overtake its competitors place in the future.

If you already own a KeepKey or any other hardware wallet, I’d love to hear your experience with it or answer any questions you have in the comment section below.

Keepkey

$79
8.3

Design

9.7/10

Ease of use

9.0/10

Price tag

8.5/10

Portability

6.0/10

Pros

  • Great design
  • Intuitive to use
  • Competitive price tag

Cons

  • Not very portable
  • Supports only 40 assets

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Christopher Carson
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Christopher Carson

Keepkey broke down after 2 years. No answer from customer support. Only solution to buy a new one ! Scam Alert

Donovan
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Donovan

I would stay away from KeepKey. I keep my device offline and only access it on very rare occasions, the last time I accessed it an update was pushed and afterwards the device just stopped working. I tried multiple computers and no response, there’s numerous cases on the internet that show this has happened to more people. The devices are cheaply made. When I asked support how many devices have failed like this they said none yet they have a article on this problem specifically. I asked for them to send me a new cord to see if that resolves… Read more »

Kev-o
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Kev-o

I have a KeepKey, but have some minor gripes about it. First, the wallet doesn’t show you the value of your assets in fiat currency. Second, their development seems very slow. They still haven’t incorporated Bitcoin Cash into their wallet software, but they do offer a beta version of their wallet software if you want to add a Bitcoin Cash wallet. Beta version? Seriously? BCH came out over 4 months ago and I’d rather not rely on a beta wallet to keep my coins safe. These reasons are why I moved over to Trezor.

Dom
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Dom

My only issue with keep key is that you can transfer ERC20 tokens to it but you can’t get them off once they’re there. I spoke with support yesterday and their primary focus right now is updating the firmware so you can move all of your ICO tokens to the device and transfer them elsewhere if you want for cash out purposes. Once that happens I’ll be 100% satisfied with this product. Setup is super easy right out of the box. The only other issue is waiting for coinbase to move your coins to keep key. They’re always backed up… Read more »

E Dean
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E Dean

The hardware wallet situation has been frustrating mess since May 2017, when this article was last updated. I bought a KeepKey on Amazon the first week of May 2017 for $99USD. It was delivered within 2 days and I had no trouble setting it up, transferring a small amount of bitcoin, eth, and litecoin to it. Satisfied with it, I immediately went to buy one as a gift for my brother and they were suddenly nowhere to be found on Amazon. Went to KeepKey’s website and it also displayed out of stock and that has continued now into early July… Read more »

Robert Gross
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Robert Gross

When you become serious about Bitcoin hard wallets, you realize you really do need a minimum of two in order to be comfortable. One to load bitcoins on and another to practice recovery or to simply have on hand in case one is lost or stolen and you, for whatever reason, cannot find your seed. I actually have both Keepkey and Trezor. Keepkey is frankly less portable and feels slightly less durable. But I have carried Keepkey comfortably in jeans so the portability issue is not overwhelming. Though I will say trezor is the way to go if you plan… Read more »

Mikael Arhelger
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Mikael Arhelger

Seems difficult to decide on hardware? Wanting to buy one soon but surely want to store multiple (Bitcoin and Etherum) and must work with Windows, Linux and Android …

Sergio A.
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Sergio A.

Good article and congratulations with you website. I like it :-).

Keepkey is a great product (I have one from more that 6 months ago and any problems), nothing to envy at Trezor on security. For me Keepkey is better designe (quality materials and better screen).
About the prestige, Keepkey is the same or maybe better that Trezor (same price 100$), just need time to be accepted per BTCs users.

Regards

Trevor Newman
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Trevor Newman

Hi, great article l own a bitbox and just got my Keepkey the ‘keepkey’ looks like a great product but is let down by some confidence destructive faulty instruction after uploading app via chrome l tried to initialize the keepkey; the instructions were if you do not have the recovery code do not install; however it transpires this instruction does not apply on the initial step, when initializing you are supposed to ignore that instruction and go ahead anyway.Eventually this is what l did and now l can use it but l think l will keep the substantial amount of… Read more »

del
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del

I use a password manager that also allows secure notes such as 1password to store my recovery keys for both Keepkey and Trezor. I can access the secured encrypted notes via dropbox on my imac, windows surface and samsung android.

FYI I can use mycelium wallet on the android to hookup my trezor via OTG cable. So far nothing yet for Keepsafe on android…