KeepKey Hardware Wallet Review

PROS
  • Most secure & feature packed Bitcoin hardware wallet available
  • Digital screen & metal body
CONS
  • $99 price may be out of range for some buyers
  • New wallet, needs to gain more trust

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KeepKey is a secure Bitcoin hardware wallet that was launched in 2015. Like the TREZOR and Ledger Nano S, it is easy to setup but also has some more advanced features, making it a great choice for new and experienced Bitcoin users alike!

Price

Costs $99 and can be purchased on Amazon. High price tag is due to its digital screen, metal body, and high level of security.

Make sure you NEVER buy a KeepKey or any other hardware wallet from eBay.

Only buy from KeepKey’s website store or from Amazon.

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Security

The purpose of a hardware wallet is to store private keys offline in a secure envoriment. KeepKey provides top-notch security and protects against both physical & virtual theft. It can be used on any computer, even one that’s been infected with malware or targeted by hackers. Think of it as a tiny computer that’s built specifically to store Bitcoin private keys.

In addition to offline storage, KeepKey’s pin code and number randomization makes sure that 1) your wallet is secure from physical theft and 2) that a hacker couldn’t steal bitcoins from your wallet with malware.

KeepKey is an HD wallet, meaning your entire wallet can be backed up with the 12 words generated on setup. 12 words is the default setting, although KeepKey supports seed lengths of 18 and 24.

The seed is generated using entropy from both the device itself and the computer used for setup. The seed is generated offline on the KeepKey and displayed on the device’s screen. The device’s offline screen makes sure the seed is never displayed on an internet-connected device.

You can recover your wallet using the backup seed if your device is lost, stolen, or damaged. Recovery can be done with KK’s Chrome extension. Make sure to keep multiple backups of your seed and follow other best practices.

The wallet’s screen helps confirm you’re sending to the intended recipient, but does not prevent phishing attacks.

Setup and Initialization

Watch the video above or read our in-depth guide to learn how to initialize a KeepKey. The process is very simple and only takes a few minutes.

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Privacy

As with any hardware wallet, using your device is only as private as the software wallet it’s used with. Electrum, KeepKey Chrome, and MultiBit HD support KeepKey. Electrum is the most private of the three.

KeepKey vs. TREZOR

KeepKey is actually a port of the TREZOR’s code and firmware.

There is no huge difference besides that TREZOR has been around much longer. The design of the two devices also differ. KeepKey has a more premium feel, is aluminum, and heavier. TREZOR is plastic and lighter. TREZOR is very light and may be more drop-proof than KeepKey.

KeepKey vs. Paper Wallet

KeepKey may be better than a paper wallet for less technical users. Paper wallets can be hard to setup and it’s easy to make mistakes. With KK it’s easier to create secure offline storage. Paper wallets are just as secure if created correctly, though.

Does KeepKey Work with Ethereum?

KeepKey can be used to store Ethereum, Litecoin, DASH, and other altcoins. It’s up to software wallet developers to integrate support–the device itself is compatible with any altcoin.

 

To Buy Keepkey now, visit Amazon.com or Keepkey.com

Ledger HW.1 Review

PROS
  • At 15€ (~$17), the Ledger HW.1 is a good option for users on a budger
CONS
  • No screen means the HW.1 must be setup on bootable USB or offline computer in order to setup securely

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Price

The Ledger HW.1 costs 15€ and comes with free shipping.

Here is the HW.1 compared to the other three popular hardware wallets:

 

Security

The Ledger HW.1 is an HD Bitcoin USB wallet, meaning the 24 word seed generated on setup is all that’s needed to backup the entire wallet. The original 24-word seed is generated using RNG from the device and the computer. This spreads out the source of entropy.

The HD seed is then generated offline on the HW.1’s smartcard and displayed on your computer’s screen. This is the main problem with the Ledger HW.1: it doesn’t have a screen. Since the seed is displayed on your computer’s screen, setup your HW.1 on an offline computer or bootable operating system. Ledger offers a USB drive called Ledger Starter which you can use to setup your HW.1 securely.

A 4-digit pin code is added on setup. The pin code is required to view balances when plugged into any computer and for each transaction. Three incorrect guesses of the pin code will wipe the device.

The Ledger HW.1 comes with a security card that provides extra two factor authentication and prevents man in the middle attacks. The HW.1 uses the security card as 2-factor authentication because it lacks a screen.

Each time you need to send a payment you will be asked to input some of the letters or numbers from the recipient address using the security card.

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Using the example security card shown above, b equals 9 while x is 1. Each security card is unique and provides two-factor authentication in the case that your HW.1 is stolen. If someone has your HW.1 and your pin code, but not the securty card, they won’t be able to send your funds.

The HW.1 uses an CC EAL5+ smartcard to securely sign Bitcoin transactions.

Setup and Initialization

To setup your HW1 you will need to use the Ledger Wallet Chrome extension or the Ledger Starter. Using the Ledger Starter is more secure because it creates your seed in a secure enviroment.
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Privacy

As with any hardware wallet, using your device is only as private as the software wallet it’s used with. Many software wallets have support for the HW.1: Electrum, Mycelium, Copay, GreenBits, GreenAddress, Coinkite, and the Ledger Chrome wallet. Electrum, Mycelium and Coinkite support Tor and can offer additional privacy. Copay can be used with a Bitcore full node which is also a very private way to use your HW.1.

Ledger Mobile Apps

Unlike the TREZOR or KeepKey, the HW.1 doesn’t have a screen that can be used to verify outgoing transactions. Instead, Ledger’s iPhone app or Android app can be used a screen to confirm payments. This isn’t ideal, as the mobile apps will in most cases run on internet-connected devices. It is, however, a decent solution for a hardware wallet with no screen.

HW.1 vs. TREZOR

TREZOR and the Ledger HW.1 are often compared. The main difference is TREZOR offers a screen, the ability to add a passphrase to the HD seed, and offline setup by default. The Ledger HW.1 wins in terms of price but offers less features and arguably less security.

HW.1 vs. KeepKey

The main difference between the Ledger HW.1 and KeepKey is that KeepKey has a screen, while the Ledger HW.1 does not.

HW.1 vs. Paper Wallet

The Ledger HW.1 may be better than a paper wallet for less technical users. Paper wallets can be hard to setup and it’s easy to make mistakes. The HW.1 makes creating secure offline storage easy. Although paper wallets are just as secure if created correctly.

 

Does the HW.1 Work with Litecoin?

The HW.1 can be used to store Litecoin, DASH, and other altcoins. It’s up to software wallet developers to integrate support–the device itself is compatible with any altcoin.

Visit www.ledgerwallet.com for more information.

Visit www.hardwarewallet.com to Buy.

 

Is Holding Bitcoins a Crime in India?

After going through the Press Release by RBI. It is clear that RBI is only cautioning the users about potential risks. They still don’t regulate it. So, it’s not a crime yet.

Many countries have declared it as commodities. Many have legalised it too. Recently Japan legalised it. Countries like Russia is thinking about it.

Indian government invited suggestions and comments from the people of India on 31st May 2017.

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You can also give your views at MyGov.in

Here is the Link: Comments/Suggestions Invited for the Existing Virtual Currencies Framework

Since holding Bitcoins is not a crime Learn, How to buy it in India


Note: If you haven’t created an account on Zebpay or Unocoin or CoinSecure, you can grab the following referral code

Referral Code of Zebpay: REF06568678

Referral Code of Unocoin: U213061

Coupon Code of Unocoin: TTA200

Referral Code of CoinSecure: A67aTLwo7PNiLBysAU9h


What are bitcoins and how do I get them?

What is Bitcoin?

A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

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Also read: How you can make Money from Bitcoins

Where you can get Bitcoin?

You can get it from any Bitcoin Exchanges.

You can buy on platforms like Zebpay, Unocoin, CoinSecure, CoinMama, Changelly, LocalBitcoins, etc.

In India, Zebpay and Unocoin are the most popular wallet.

Also read: Where I can buy Bitcoins in India?

How can I buy Bitcoin online?

You can buy on platforms like Zebpay, Unocoin, CoinSecure, CoinMama, Changelly, LocalBitcoins, etc.

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In India, Zebpay and Unocoin are the most popular wallet.

You can buy at Changelly using Visa and MasterCard

You can also buy through Cash, Paytm or any other wallet, Bank transfer, etc at LocalBitcoins.

If you are buying first time at LocalBitcoins before you buy you need to have your Bitcoin Address for that you can create an account on anyone of the above Exchanges. I will recommend to do Account verification of Exchange Platform first and then transfer bitcoins to that address.

If you wish to buy any other Cryptocurrency, you need to buy Bitcoin first then transfer Bitcoin to Poloniex, Kraken, Bitstamp exchanges.

Also read: What does Bitcoin’s Wallet mean?