Bitcoin is a digital currency that give users complete freedom to do whatever they want with their money. Unlike with credit cards, vendors or buyers cannot claim Bitcoins back after a transaction has been made, and the transactions are kept completely private. This untraceable nature is part of what makes Bitcoins so appealing, however, is also the very same trait that makes them a valued target for cybercriminals. If your Bitcoins are stolen, there’s no way you can get them back or trace who stole them.
KeepKey promises to change this by storing your Bitcoins in a completely secure way. It stores your Bitcoin key in its standalone device, and there is no way anyone else can access your key. KeepKey’s looks are about as simple as its controls. On the outside, the device boasts an attractive aluminum finish and large display. There’s a button on the top of the device which controls basic commands, and a micro USB port on the bottom to connect KeepKey to your computer. The package also comes with a recovery card and sleeve, an instruction manual, and a micro USB cable.
To set up KeepKey, first follow the provided instructions to install KeepKey’s wallet extension in Google Chrome (Chrome is currently the only web browser that KeepKey works with, because it’s the only one that supports USB connections). After that, simply plug KeepKey into your computer, and launch the wallet extension in Chrome. You’ll be asked to name your device, then choose a PIN. A one-time recovery sentence will be provided in case you ever need to recover your private key. Be sure to write this down on the card KeepKey provides, and store it in a safe place. Once you’re set up, you can load Bitcoins into your KeepKey wallet.
Making purchases with KeepKey is pretty straightforward. Plug in your KeepKey, and when you’re ready to make a purchase using Bitcoins, the KeepKey software will pop up and populate all the details of your transaction. KeepKey will then ask for your PIN, and when you confirm the transaction by holding down the physical button, KeepKey will securely send the signed transaction to the Bitcoin network.
Using KeepKey is pretty intuitive, and the device is built from the ground up with security in mind. The device encrypts your Bitcoin key so no one can copy it. When you enter your PIN for purchases, you have to use your mouse curser or touchpad to press your PIN digits, which are cleverly programmed to change order on the numeric keypad interface to thwart key loggers. KeepKey uses cipher code for when you’re inputting your recovery sentence. Also, the entire time you’re making transactions, the private key never leaves your device. It also doesn’t contain operating software that can be thwarted by viruses or malware.
We’re not aware of any other digital wallet that employs as many security features as this one, and when you consider the quality of its build, its ease of use, and multiple security layers, KeepKey is arguably one of the best devices currently available to protect your Bitcoins. You can grab KeepKey for $239, and it works with PC, Mac, and Linux.