Setup & Configuration
KeepKey can and should be purchased immediately from their official web site. Once the package is received, ensure that it has the following :
- KeepKey Wallet
- USB Cable
- Recovery Card
- Instruction manual
Like Trezor, the KeepKey wallet is protected with a holographic seal which shows if a device has been tampered with. Before using the device, ensure that the navy seal is not broken and intact. If in doubt, you should contact KeepKey’s support team immediately. Do not use the device until you are certain that it is safe to do so .
Initial Configuration
To initialize the KeepKey wallet, you need the latest interpretation of Google Chrome on your calculator. The KeepKey app needs to be installed after downloading it from the Chrome App Store.
- Connect the KeeyKey wallet to the computer using the USB cable.
- Open the KeepKey client app and click the button Initialize KeepKey. (This option will be displayed only if the device is connected to the computer):
- Enter a label or name for your KeepKey device and click ‘Set Label’ button:
- Next, you must choose a PIN for your device. The length of the PIN can vary from 1 to 9 digits. On your computer, the keypad matrix with empty dots will be shown. The corresponding key assignments will be shown only on the KeepKey device. Enter the PIN twice and click the option Choose PIN. (While setting the PIN code, don’t use numbers like birth year, date etc. Try to choose a unique PIN code):
- Then, you must make a note of the recovery seed which is 12 words long. It will be displayed only on the KeepKey device. Note down every word carefully and write them down on the recovery card that came along with the device. Do not store your recovery seed on your computer, mobile phone, online storage drive or any place which is easily accessible.
- Once you had noted down all the words, press the button on the device to complete the initialization of your KeepKey wallet.
Creating Account
To send/receive digital assets using the KeepKey wallet, the user must create an account by following the steps listed below .
- Connect the KeepKey wallet to your computer. Open the KeepKey client app and enter your PIN.
- Click the ‘Add Account’ button (+) on the bottom right of your screen.
- Select the cryptocurrency from the drop-down menu to create the account. All the ERC-20 tokens will be created as sub-accounts under ETH.
- Enter the name for your account (eg. MyBTC) and click ‘Add Account’.
even though you can create an inexhaustible phone number of accounts, KeepKey highly recommends that you keep a maximum of 10 accounts for faster operation of the device .
Receiving Digital Assets
Follow the below steps to receive BTC, Altcoins or any ERC20 keepsake on your KeepKey wallet .
- Connect the hardware wallet to your computer. Open the KeepKey client app and enter your PIN to authenticate your device.
- Select the account on which you would like to receive funds, eg. Bitcoin.
- Select the button titled Receive Bitcoin:
- You will see the receiving address displayed on the screen. You must ensure that the address displayed on the screen and the KeepKey device are the same.
- You can now either copy the address manually or scan the QR code to share that with the sender.
once the transmitter completes the transaction, you should receive the funds in your KeepKey wallet. The time taken for this can vary importantly, with transactions taking long when a coin ’ mho network has a high book .
For better privacy, it is highly recommended to use a unique address for every transaction. By default, the KeepKey will generate a newly address for every transaction .
Sending Digital Assets
Follow the below steps to send BTC, Altcoins or any ERC20 nominal from your KeepKey wallet :
- Connect the wallet to your computer. Open the KeepKey client app and enter your PIN to authenticate your device.
- Select the account from which you would like to send funds, eg. BTC.
- Select the button titled ‘Send/Trade’.
- Enter the destination address to which you would like to send the coins.
- Enter the amount of cryptocurrency you would like to send and choose the level of the transaction (Fast/Medium/Slow). Faster transactions require high transaction fees whereas slower transactions require only little fees but take more time to complete the transaction.
- Click the ‘Send’ button.
- Enter your PIN. Double-check the amount displayed in the screen and the KeepKey device are the same. If they match, click the button on the KeepKey device to authorize the transaction.
You have successfully transferred your funds out of the KeepKey wallet. To know the condition of your transaction, you can check the Transaction History on your KeepKey customer app .
Integration with ShapeShift
Since KeepKey is integrated with the ShapeShift exchange, it is possible to exchange the digital assets directly from the wallet .
- Make sure you have first signed up as Shapeshift Member. To do this, go to you KeepKey Settings > Log in To ShapeShift > Click ‘Sign Up’.
- Connect the wallet to your computer and open the KeepKey client app.
- Select the account from which you would like to use the digital assets for trading.
- Click the button titled ‘Send/Trade’.
- On the destination address field, select the cryptocurrency you wish to exchange.
- Then, enter the amount of the cryptocurrency and click the ‘Trade’ button located at the bottom of the screen.
- You will need to authenticate the transaction by entering your PIN. Ensure that the information shown on the screen and device are the same. If they match, press the button on the KeepKey to confirm the transaction.
once you have confirmed the transaction, ShapeShift exchange will make the conversion and deposit your new coins or tokens in your wallet.
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Security
KeepKey is an HD (Hierarchical Deterministic) wallet which uses the BIP32 protocol to store the private keys of Bitcoin, Altcoins and early ERC20 tokens. As it uses BIP32, it is potential to generate and store an inexhaustible total of private keys on the KeepKey wallet .
While entering your PIN code, the numbers will be shown only on the KeepKey device and not on the computer. This prevents hackers from using keyloggers or other kinds of mechanisms to discover the code. This is fair one of the reasons why storing your cryptocurrencies on KeepKey is a bang-up way to keep them dependable .
In addition to the PIN, you can besides set an optional passphrase for extra protection. As the microcontroller in the KeepKey has read protective covering, it is impossible to entree the news bulletin memory where the private keys are stored. even if the hack steals the device and tries to use any debugger cock to communicate with the device, it is impossible to read the private keys from the device .
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Recovery Options
In case your KeepKey device is lost or stolen, it is possible to recover your account, provided you remember your 12-word recovery semen .
To recover your account into another KeepKey device, follow the under steps .
- Connect your new KeepKey device to your computer.
- Open the KeepKey client app and click the link ‘Recover KeepKey’, which is displayed on the bottom of the screen.
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- Create a label for the device.
- Create a secure PIN for your new device.
- Enter the 12-word recovery seed of your old device onto the new device. Once you have entered all the words, click the ‘Enter’ button on your screen.
Your bill should have been recovered successfully and all report information will be displayed on the blind. In font of any issues contact KeepKey ’ s customer digest immediately .
even if you don ’ t have another KeepKey device, it is still possible to recover your accounts on any wallet that is compatible with the BIP44 protocol like MyCelium, Coinomi, CoPay, Exodus etc. On the other hand, if you have to recover only one account, then it can be done using any BIP39 compatible wallet .
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