KeepKey Hardware Wallet Review

[Nayana Patil]

Is KeepKey wallet safe?

If you want to know if the KeepKey Hardware wallet is 100% safe or not, the answer is No. The team behind KeepKey might have gone to great lengths to render security and safety to its users but there is a glaring loophole and that is the fact the device is not regulated. It is important for a crypto wallet to adhere to the regulatory requirements to offer seamless security. 

Conclusion

KeepKey wallet reflects commendable features, however, it still lags as compared to its competitors like Trezor and Ledger. The security of the wallet is still questionable, and the number of coins supported by the wallet is also limited. Although, it is an affordable wallet and is also very aesthetically appealing.

Wallet Fees

KeepKey wallet levies a transaction fee that is not dependent upon the value of the underlying transaction, rather it is calculated automatically based on network congestion (e.g., the size of the mempool– the total number of transactions waiting to be confirmed), and the size in bytes. 

Bitcoin Custom fee  

KeepKey enables custom fee selection for bitcoin in its platform. Users can select a fast, medium, or slow transaction speed which corresponds to the necessary fee. 

While for the other assets the fee is automatically calculated by KeepKey and is ensured that transactions are confirmed with a minimal wait time. 

The calculated fee is awarded to bitcoin miners who mine new bitcoins and secure the blockchain network. 

Source: CoinPedia