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KeepKey altcoin

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Introduction to KeepKey

KeepKey is a hardware device cryptocurrency wallet that competes with Trezor and Ledger in the market. It prioritizes security by storing the private key on the device itself. To initiate transactions, users must connect the device to a PC using a USB connection. Even if the connected PC is compromised, the device remains secure thanks to robust encryption measures.

Main Features

The KeepKey wallet offers the following key features:

  • Secure Private Key: Private key storage on the device enhances security.
  • Wide Cryptocurrency Support: KeepKey supports over 30 cryptocurrencies.
  • Recovery Phrase: Users receive a recovery phrase during wallet initialization to aid in case the device is lost or stolen.
  • Hierarchical Deterministic: The wallet employs a hierarchical deterministic structure.
  • Open Source Firmware: KeepKey's firmware is open source, promoting transparency.
  • ShapeShift Integration: The wallet has built-in integration with ShapeShift, enabling easy cryptocurrency trading.

Usage and Limitations

Initial usage involves displaying the private key on the device. Users need a Chrome application for interacting with the wallet. However, KeepKey lacks multi-signature functionality and the option for two-factor authentication.

Pricing and User Experience

A KeepKey device is priced at $129, which is higher than competitors like Ledger and Trezor. While noted to be less user-friendly than its counterparts, KeepKey offers a supreme level of security. The unique exchange integration with ShapeShift sets it apart from Ledger and Trezor.

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Pros & Cons

  • Private key is securely stored on the device
  • Users have access to a recovery seed for wallet restoration
  • Utilizes hierarchical deterministic technology
  • Features built-in integration with ShapeShift
  • Comes at a higher price point compared to competitors
  • Lacks multi-signature functionality
  • Does not offer two-factor authentication

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