KeepKey Hardware Wallet For Bitcoin & Cryptocurrency Storage [REVIEW]
Simple Guide On How To Use The Keepkey Wallet
KeepKey is a cold wallet that secures your Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and Namecoin from thieves. The device stores your private keys securely, making sure it never leaves the device. As an additional feature, the device is PIN-protected, keeping the cryptographic asset of the owner secured even in the case of theft. The design of Keepkey ensures that each transaction must be manually approved using the confirmation button.
Keepkey has the following features.
- Multicurrency support
- Integration of ShapeShift to enable exchange service.
- Supported by clients including Electrum, MultiBit, and Mycelium
- Virus- and malware-proof
- Compatibility with majority of operating systems including: Windows, Mac, Linux, and Android.
Setting Up The KeepKey Hardware Wallet
- Download and install the KeepKey Client App from the Chrome web store.
- Open Chrome and paste this address “chrome://apps” in to the address bar to locate the KeepKey Client App
- Connect Keepkey to your computer using the USB cable.
- Select a label for your KeepKey to help you distinguish your KeepKey in case you own multiple devices.
- Select a PIN between 1-9 digits by finding the position of the number you want to choose, by clicking on the corresponding location in the KeepKey Client Chrome App.
- Confirm your PIN.
- Write down the 12-word recovery sentence displayed on the device.
- Keep the recovery sentence in a safe and secure place. You will need it to recover your account and private keys if your KeepKey is lost or stolen.
Funding The Wallet
- Open the KeepKey Client App on Chrome browser.
- Plug in the device and authenticate it.
- Select the receiving account for the transaction from the list of accounts available.
- Select “Receive Bitcoin” and copy the receiving address.
- Paste the address into the wallet from which you are willing to send your BTC.
KeepKey will provide you with an unused address to which you can send funds. This is one of the benefits of the device being a hierarchical deterministic(HD) wallet. Click on the green clipboard icon to copy the address to your clipboard. To generate more than one new address, click on the right arrow beside the QR code. This will create a new one.
- Verify the address shown on the device by making sure that the address provided matches the address displayed on your KeepKey. This step ensures that the address does in fact belong to KeepKey.
- Wait for the transaction to be confirmed on the blockchain.
Note: It is not compulsory for the device to be connected to your PC before receiving the BTC.
Transferring Funds From The Wallet
The process of sending BTC (or any other cryptocurrency as the case may be) can be easily completed following the steps below:
- Launch the KeepKey client app from your Chrome browser and enter your PIN
- Select “Send bitcoin”
- Enter the recipient’s wallet address
- Enter the amount you wish to send and click send.
- Verify the address and amount shown on the device.
- Make sure address shown on device matches the address entered into the app, by verifying both addresses.
- Confirm and click the send button.
- Wait for the transaction to be completed on the blockchain.