Launched in 2015, the KeepKey is what is known as a cryptocurrency hardware wallet — basically, a device that keeps your cryptocurrency private keys isolated from the internet in cold storage.
Although the KeepKey isn’t quite as popular as other hardware wallets such as the Ledger Nano S and Trezor wallet, it is one of the more cost effective solutions out there. Unlike other hardware wallets, the KeepKey isn’t trying to be as small as possible and instead features a large display that makes it much easier to use than other hardware wallets.
In total, the KeepKey supports seven different cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Dash (DASH), it also offers support for dozens of the most popular ERC20 tokens. Beyond simply storing cryptocurrencies, the KeepKey also features built-in exchange functionality, allowing you to trade your cryptocurrencies from the safety of your device.
As one of the most popular hardware wallets for cryptocurrency beginners, KeepKey has done an excellent job of making the device extremely simple to use, with the setup process taking just minutes to complete.
To get started using your KeepKey, see the below guide. Note that you will need a computer running Google Chrome to complete all the required steps.
Setting up the KeepKey
Step 1: To begin, first open your KeepKey packaging, this should come with a security seal from KeepKey on the side.
Within the packaging you should find four items:
- Limited Warranty & Regulatory Compliance sheet
- Recovery Sentence card
- USB cable
- KeepKey Device
Step 2: Head over to the installation page for the KeepKey client on the Google Chrome web store. Here, click the ‘Add to Chrome’ button to begin the installation process.
After clicking ‘Add to Chrome’ you should receive a notification warning, explaining that the extension can access your hardware wallets. Click the ‘Add app’ button to complete the installation process.
After installing the KeepKey client, you will then be able to click Launch app to begin the KeepKey setup process.
Step 3: Plug your KeepKey into your computer using the supplied USB cable. After connecting, the KeepKey client should automatically detect this, and redirect you to the initialization screen. Here, click the ‘Initialize KeepKey’ button to generate your private keys.
Step 4: After clicking the ‘Initialize KeepKey’ button you will be asked to label your device. This label will be used to distinguish your KeepKey from any other KeepKeys you may own or use. In this example, we have labeled our KeepKey “Cryptocoin”. When you are happy with your label, click the ‘Set Label’ button.
Step 5: Once you have set your label, you will then be asked to select a PIN. On your KeepKey device, you will be shown a grid of numbers from 1-9. The arrangement of this grid is completely random and is designed to prevent somebody from determining your KeepKey password if they are recording your screen.
On the KeepKey client, you will be provided a similar grid, which represents the same numbers shown on your KeepKey device. To select your PIN, simply click the box that corresponds to the number you want to build your PIN. For example, if we want the PIN 66661111, we would click the top left box four times, and the middle box four times.
Note that the combination will be different for every device. Once you are happy with your password, click the ‘Choose PIN’ button. Make sure that this PIN is something that only you know, since it will be used to access your device in future.
Step 6: You will then be asked to confirm your PIN. To do this, simply enter your PIN by clicking the boxes that correspond to the correct number as shown on your KeepKey device. After re-entering your PIN, click the ‘Confirm PIN’ button to finalize setting your PIN.
Step 7: In this step, KeepKey client will ask you to take a note of the recovery sentence that is displayed on your KeepKey device. This is a 12-word phrase that can be used to recover your funds should you ever lose access to your KeepKey, such as if it gets broken or lost.
When you see this screen, write down the 12-word sentence displayed on your KeepKey screen, this can be written on the recovery sentence card that is supplied with your device, or can be written anywhere you feel is safe.
After you have written down your 12-word recovery sentence, press and hold the KeepKey button to complete the setup process.
Once this is completed, KeepKey client will automatically load your account, and you will be able to access and create new wallets within.
Note that you will need to enter your PIN to access your KeepKey wallet through KeepKey client in future.
That’s it! Your KeepKey is now set up and ready to use. Now that your device is ready to go, check out some of our other KeepKey guides here.