Hardware wallets, like the cryptocurrency stored within them, evoke strong emotions in their owners. If your first wallet was a Ledger, you are likely a Ledger loyalist; if you’re Team Trezor, you stick with it. Keepkey, completing the holy trifecta of hardware wallets, is less famous than its siblings, but the sleek black plastic device still packs a punch.
First Impressions: Aesthetically Pleasing, Lightweight
At $129, Keepkey costs more than the Ledger Nano or Trezor One but less than the newer Trezor Model T. Since 2017, Keepkey has been owned by Shapeshift, allowing users to swap cryptocurrencies without exposing private keys. The company promises “bank-grade security” and claims the device is so easy that “even your grandmother” can use it—a somewhat patronizing statement.
Design-wise, Keepkey is arguably more attractive than a Trezor and smarter than the Nano, even though it lacks the latter’s brushed metal finish. The device itself feels lightweight and plasticky, but the bundled USB cable boasts a luxurious touch. However, the first challenge appears immediately: it uses a standard USB connection while the reviewer’s MacBook Pro does not. Apple’s fault, but still frustrating when traveling.
Setup Nightmare: Three Attempts and Finally Success
Back home, plugging the wallet into the MacBook Pro via a Thunderbolt adapter yields no response. Trying an older MacBook Pro and a Chromebook—nothing. A Google search for “keepkey setup” reveals the solution: you must manually navigate Chrome to chrome://apps/ to open the app. This non-intuitive step means every time you use the wallet, you need to recall the trick.
After finally getting the Chromebook to update the firmware, reconnecting to the MacBook Pro works. The reviewer sets a PIN and writes down the 12-word recovery phrase, but the device disconnects inexplicably twice, forcing restarts. Eventually, the Chromebook succeeds. The whole process is frustrating and time-consuming.
Once set up, only a BTC wallet appears by default. Adding a BCH address works, and the reviewer sends $5 worth of Bitcoin Cash from a wallet at a fee of only 3 cents. While waiting for confirmation, the Keepkey logo staggers across the screen in chunks, reminiscent of a monochrome handheld soccer game from childhood—anachronistic but nostalgic.
Altcoin Support: Still in 2016?
Keepkey currently supports BTC, BCH, ETH, LTC, plus older assets like Namecoin, Dogecoin, and Dash, but lacks major coins like XRP, EOS, Cardano, and Monero. Native ERC20 support is still in beta. While competitors are adding support for more modern cryptocurrencies, Keepkey lags far behind. It’s odd that the 295th coin by market cap (Namecoin) is supported, while only six of the top 20 crypto assets are available.
Overall, Keepkey offers good design and a decent cable, but suffers from a painful setup, poor compatibility, and limited coin support. If you only need to store BTC, BCH, and ETH, it works fine, but the “even your grandmother” claim is pure marketing. The reviewer will keep using the wallet but admits to lusting after the diamond-encrusted Nano seen at Consensus—or even just a regular one.