KeepKey - BTC, LTC, DOGE, DASH, NMC Hardware Wallet!

rootdude 2015-07-20 18:56:12 UTC #1

http://www.keepkey.com/

Guys - the only reason I don't hodl anything besides BTC is because I don't trust software wallets to keep my keys safe and secure... enter, KEEPKEY!

Have a look! It's very, very stylish as well

deeneendo 2015-07-20 19:13:32 UTC #2

if I didn't have the Trezor yet, this could seriously tempt me, looks very stylish. Not as sturdy as the Trezor though...

rootdude 2015-07-20 19:51:39 UTC #3

It's based on the tried/true/tested Trezor source code, so we know it's going to be solid... and adding those alts is going to allow me to extend my portfolio. I've been highly reluctant to hold any alts because I don't trust computers and software wallets with my keys... this is a game changer for me. While Trezor could theoretically support ALT keys, no one has implemented those yet - which is why I'm so excited about this development. I will be the first in like to own one (and wait in line for days if I have to)

rdyoung 2015-07-20 22:09:34 UTC #4

This looks cool. There is no reason they can't implement any other altcoin along with the ones they have already. I wonder if this will be electrum compatible or like mycelium and coinomi, IE, you can't use the seed to recover your funds on other software.

BitcoinNewsMagazine 2015-08-14 16:52:32 UTC #5

I am looking forward to buying a KeepKey to kick the tires. My Trezor looks like a toy found in a cereal box compared to photos of the KeepKey. After less than a months' use my Trezor has developed a problem with one of the buttons becoming intermittent. Trezor makes returning for exchange such a long process most folks would probably just buy a new one. Unless the button fails I would rather put the bitcoin into a KeepKey.

BitcoinNewsMagazine 2015-09-23 22:56:04 UTC #6

KeepKey is now on sale for $239 at their site or Amazon.

rootdude 2015-11-18 21:07:01 UTC #7

Yep - same problems here. I have all three of the hardware wallets now - two ledger nanos, two Trezors and now a KeepKey, and I can say, unequivocally, that the KeepKey is where I'm going to keep my keys (ugh).

Why? Well, the two Trezors creak like a kids toy when I use them. One Trezor's screen is dim enough in some places to obscure the info being displayed so I no longer feel confident using it. Not to mention the buttons on one are also a little dodgy. Not to mention that Bits of Proof (the Trezor backend) has failed to be ready to serve me more than once during a transaction (and without it, the Trezor is worthless unless you restore the keys to a software wallet (bad idea)). Forgot to mention the last straw. After I moved my coins from one device to the other (to wipe and re-initialize the first), I dutifully tried to restore my keys by using the recovery process from the first to the second to ensure the phrase was good. Nope. My emails to support (they were nice at least) first elicited an extensive 'word list of common mistakes' that I was supposed to try combinations of mistaken words to try to restore the backup Trezor (yeah, right, like I didn't copy down the words correctly in the correct order??? - HAH!).

The Ledgers? I liked those too... until... every second time I connect them to my computers now, they are treated as if they need to be restored from the backup phrases. The metal shields on both of them are dodgy (fell off the one I use most often) and the other it's loose. Further, the black ''paint' on one of the keys got stripped off opening and closing the metal shield... and, then there's the card you need to have handy to transact. Yes, a card like a business card only made of plastic.

Leading me to discuss how the KeepKey is better. Well, to start out with, it's something that might have been designed by Apple given it's fit and finish. It's superior in every way to either the Trezor or the Ledger - top notch. The display is large enough for tired eyes to actually see the addresses properly to verify you are seeing on your screen what is the correct address being generated. I took the time to initialize the device and sent a few bits there, then wipe it completely and restore it from the passphase to ensure it restored properly, and unlike my Trezors, it worked the first time like a champ. Also the restore process seems much more secure than the Trezor - you are shown a list of characters on the screen of the device which are a crypt of the real letters to spell the words (you don't type the words themselves on a keyboard, defeating any keylogging in the process). I should also mention, the USB cable that came with the keep-key is a really nice one. Long enough to be convenient, and not some cheapo candy-colored 3 incher (don't ask me what a girl would think of something like that).

Is it worth the very premium price? Ask yourself how many coins you are protecting - 'nuff said?

I'm looking forward to having DOGE and LTC wallets available directly from KeepKey as a chrome extension. When that comes along, I'll be HODLING those as well.

Questions? Comments?

BoB 2015-11-19 07:43:14 UTC #8

That's the sort of write up we need to see more frequently, properly informative and interesting.

Personally, I'm quite happy using a Bitstashers wallet, importing when I need to use it then erasing the key again from my phone, but I guess this provides a more secure environment. Since I'm not storing huge amount I'm loving my set up but if I was storing a lot I'd want to know the comparable differences in security between using the Bitstashers wallet and using the Keepkey, which, I'm assuming as an electric device, could, in theory, fail and leave you restricted and waiting for a replacement device before you can get at your funds?

BitcoinNewsMagazine 2015-11-19 13:00:13 UTC #9

KeepKey does not work with a phone yet, though I think that is planned for a future update. I just got my Case hardware wallet in this week. I have to say this is the easiest way I know to buy with bitcoin, just scan a QR code with the built in camera and swipe your finger. You may not like the multisig architecture but they already sold out the first production run of 1000.

rootdude 2015-11-19 13:45:42 UTC #10

It is - no battery though - it works only when connected to a computer drawing power from the USB port. Of course, if it were to fail, I'd need to buy another one (at this point) to restore my keys... but, like the Trezor, the software wallet devs are going to support the device (at this point it's Trezor compatible since it uses much of the same code as the Trezor) and we will be able to sweep keys to a software wallet with the restore phrase. This, of course, is highly insecure and you wouldn't want to do it unless it was an emergency.

Speaking to device failure, though, I'd be much more concerned about a Trezor taking a dump than I would the KeepKey. I won't say you have to see it to believe it - but if you have ever seen or used a Trezor, you know that the quality of the build is just poor and that the KeepKey is a premium-feeling piece of hardware. Kinda like comparing a free android no-name handset to an iPhone. It's really that much of a difference.

Now I will say this - the PC-side software for the Trezor and the Ledger are superior to the KeepKey at this point in it's development. I love the LedgerWallet Chrome app - it's got a great GUI. The Trezor less-so - because the back-end of the Trezor functionality is hosted off an iffy service, but there are more features than the KeepKey (sign and verify is a big one). But I rarely use sign/verify and I don't trust the Ledgers anymore because of that initialization problem... so I'll make due with the functional, but less-so-than-others KeepKey and see how quickly they are able to develop the software further.

rootdude 2015-11-19 14:58:08 UTC #11

Yep. I don't like having anyone else in the path to my using my coins at all. It's a libertarian thing I suppose?

BoB 2015-11-19 15:03:53 UTC #12

I had a discussion with a friend recently about the best bitcoin wallets to use and he insisted on coinbase. I've never been a fan of them anyway to be honest, but took a closer look to double check some facts, and it turns out as well as operating hot wallets, which makes them an inevitable target, they use multisig as well.

Like yourself, I don't like that idea. my money, my keys, I'm not letting anyone else have any power over whether I can spend my money or not.

rootdude 2015-11-23 02:30:24 UTC #13

Well... and then there was today.

If you are thinking about investing in a KeepKey - hold off. I plugged mine in the morning to review the overnight mining returns and left the device connected to my computer. Thirteen hours later, I returned to find the screen dark. No problem, right? Unplug it and replug it? Nope. When I picked up the device to unplug it, it was hot to the touch. I unplugged it and re-plugged it. No display. The chrome wallet flashed my balance for a moment or two (the keys are likely intact, I suspect) - but then it flashed the 'No Device Connected' message. I let the device cool down to room temps before trying again - same thing, no dice. Different computer with a fresh install of the wallet and proxy? Same thing. I've opened a ticket, and DM'd the owner/developer and am waiting for a response. Googling the problem yields nothing (the device is brand new and somewhat expensive so I'm sure there aren't that many in the wild).

I'll update the thread once I hear back from them with an update.

rootdude 2015-11-23 20:51:23 UTC #14

So, here's what's transpired.

At 7AM West Coast time, I got a response to my ticket from the service manager. Without a question they are shipping me, overnight, a new KeepKey and a call tag to return the defective one on their dime. I should have the new one tomorrow. That's certainly a lot more than I could have expected from either Ledger or Trezor folks - and, in my opinion, worth easily the extra money this costs over either of the other solutions. Hopefully the new unit doesn't have the problems of my first one.

deeneendo 2015-11-24 10:44:16 UTC #15

not bad, but what happens when the company has folded? will you be able to import your passphrase into a different wallet? That was the point that convinced me to buy a Trezor, if the HW gives up and cannot be replaced, at least there is that possibility.

rootdude 2015-11-24 13:55:41 UTC #16

Indeed. And that was also a consideration for me with the Trezor - having a backup wallet in the worst case scenario where I could use the backup phrases to sweep the keys... and give the back-end of the Trezor is, in a word, unreliable, it's necessary for the Trezor. But, again, using the passphrase to sweep to a software wallet is a real risk. I mean, if the computer you are using is at all compromised, your coins are likely toast at that point.

It's a chicken and an egg thing with companies, isn't it? If you don't support them buy buying from them, they are far more likely to fold, bringing the thing full-circle - they go under because no one buys their stuff. Frankly, I've supported every hardware wallet manufacturer I thought had a compelling product so far. I've done my fair share to keep companies afloat to produce goods for others.

FWIW, I hope my experience with KeepKey ends up being a good one. Should I be able to leave the device attached to my computer 24/7? Probably, yes. Was it a mistake to do so? Probably, yes. No reason to have it connected like that. Am I going to do it again to find out if this one will fail because of it? Definitely, no. Perhaps what they need to do is update the code a touch to put a little screen saver on the display to keep it from overheating? Perhaps there's an engineering flaw that my broken device will help them solve? Whatever the solution is, I'm going to keep using the KeepKey for these reasons:

The design is excellent - it gives me pleasure to use it.
The recovery phrase seems to work (unlike my experience with the Trezor). I'll find out more about this when I receive my new KeepKey today and have to restore my keys again.
The support is excellent.
The promised feature-set is what I'm looking for (keys/wallets for other coins as well as BTC).

BitcoinNewsMagazine 2016-02-02 21:50:18 UTC #17

After more experience with both KeepKey and Trezor, I have to say forget about the KeepKey and stick to Trezor. KeepKey does not work with any phone wallet, and there is no provision for password protected wallets like Trezor.

My KeepKey is a $240 paperweight while Trezor is what I use day to day. The only wallet out there that might tempt me away from Trezor is the new BitLox.

BitcoinNewsMagazine 2016-03-25 19:02:47 UTC #18

Well well. KeepKey just slashed the price to $99! Same as Trezor. If they would only add the option for passphrase protection and get it working with an Android wallet they could give Trezor some real competition.

2coins 2016-04-02 17:03:52 UTC #19

bitlox look good but the price is not attractive

BitcoinNewsMagazine 2016-04-25 02:06:07 UTC #20

Yes twice that of Trezor but if you need a hardware wallet that works with iPhone BitLox is your only choice since CoolWallet is not shipping at this time.