In general, Keepkey runs very smoothly and I did not encounter any problems during the installation and financing of the equipment. Keepkey’s user interface is more convenient to move and use than Ledger Nano, and Keepkey works in the same way as Trezor One. Unlike Trezor or Ledger, Keepkey uses button navigation, but still smoothly handles wallet tasks such as sending and receiving. The device does not currently support too many cryptocurrencies, and other products offer a wider range of options. But as far as the coins it contains, Keepkey offers an easy-to-use operating system, and by using similar opsec technology, its security is the same as that of competitors.
Another benefit of integrating with the new ShapeShift platform is that it can be used efficiently in read-only mode without using KeepKey, so you can easily track assets at any time without the need for hardware wallets or third-party portfolio applications. This allows you to protect your assets securely and only requires KeepKey to sign transactions.
KeepKey / ShapeShift combination
However, according to the statement from CoinDesk, Shapeshift’s information security manager Michael Perklin stated that Kraken Security’s statement was misleading. The crypto exchange acquired the startup platform for the hardware wallet KeepKey for an undisclosed amount in August 2017 to develop its technology and security for its crypto holders.
Therefore, the KeepKey / ShapeShift combination provides the current best one-stop care solution, where convenience and simplicity are paramount, which represents an excellent compromise solution for the real world. I still have to say that the Ledger Nano / Ledger Live combination has advantages for those who want a more advanced solution and have more access to assets, even if it is not so user-friendly.
Keepkey first launches a new device
The transaction is a few months after ShapeShift completed $ 10.4 million in financing. At that time, the exchange began with the support list, which included the leading Earlybird Venture Capital this round.
As you continue, Keepkey first launches a new device name, seed, and PIN. The program makes you double-check the PIN code twice and then asks you to write down the seed phrase on the device itself. Unlike other hardware wallets, Keepkey does not require you to double-check the phrases in the 12 words. After completing this process, you will be able to access the first account dedicated to BTC. To add other cryptocurrencies, there is a drop-down menu that allows users to add BCH, DOGE, LTC, ETH and a series of ERC20 tokens.
“It’s a bit like a door lock analogy. Perklin replied that you can change the lock on the door at will, but someone with enough time and expertise can always choose the lock.
Sending transactions is also smooth, with pending transactions and priority confirmations displayed immediately based on availability, with corresponding links to blockchain transactions. This can make the transaction as fast as possible, but it is not the most cost-effective. Network transfer fee charges may take some time to appear but will slow down the process somewhat. The sending transaction process adds a fee in addition to the amount you want to send instead of including it (for example Coinbase). As a result, you can determine the actual amount to be sent to the recipient without having to calculate the amount after the fee, so that you can adjust to send the correct amount. I personally prefer this method.
KeepKey and an easy – to – use platform
When I’m done, I can link KeepKey with closed access to the Beta platform (through a combination of KeepKey and an easy – to – use platform screen), which is linked to my ShapeShift member account. After pairing with the new platform, the existing KeepKey client is not needed, but it can of course still be used to manage assets other than ShapeShift. However, it should be noted that you can only run the new ShapeShift platform or the KeepKey client at a time.
The new integrated platform will eventually replace the existing KeepKey client, as separate products are increasingly merging over time. Therefore, I will make a comparison, that is, the old KeepKey client is used to link the old Ledger client, while the new ShapeShift platform is similar to Ledger Live, but has an integrated exchange function instead of a third party.