KeepKey, launched in 2015 and now priced around US$78, remains a budget-friendly hardware wallet for securely storing cryptocurrencies. It features a large OLED screen, simple one-button interface, and integrates with ShapeShift for in-wallet swaps via Thorchain. While it supports over 7,000 assets across 350+ blockchains, KeepKey lacks a Secure Element chip, making it less resistant to physical attacks. Maintained under ShapeShift’s decentralized governance model, it continues to receive firmware updates and is best suited for users who prioritize affordability and ease of use over advanced security features.
Key features of the KeepKey
- Large OLED Display: A 3.12-inch screen shows full wallet addresses and recovery phrases without scrolling, improving clarity and reducing errors.
- Simple Interface: One-button design paired with the KeepKey Desktop app makes navigation intuitive, ideal for beginners.
- ShapeShift Integration: Built-in crypto swaps via Thorchain allow users to exchange assets without leaving the wallet.
- Open-Source Firmware: Fully transparent codebase enables community review and ongoing updates.
- Security Tools: Includes PIN protection, optional passphrases, randomized PIN entry, and offline key generation.
- Cross-Platform Support: Compatible with Windows, macOS, Linux, and Android.
- No Secure Element: Lacks hardware-level tamper resistance, making physical security essential.
- Premium Build: Durable casing with a weighty feel; ships in tamper-evident packaging with recovery tools included.
Packaging
KeepKey ships in tamper-evident packaging with security seals to ensure the device hasn’t been altered. Inside the box, you’ll find the KeepKey wallet, a braided USB-A to USB-C cable, a recovery seed card, a warranty card, and a leather sleeve for storing your recovery phrase. The packaging remains minimal and functional, designed for secure delivery and a clean unboxing experience. KeepKey has not adopted biodegradable or recycled materials in its packaging.
At the time of launch in 2015, KeepKey retailed a high price. With more established competitors, the price is now considerably lower at US$78.
This is more affordable than the Ledger Nano X at US$149 and Trezor Safe 5 at US$169, albeit they are newer.
Security Features
Here are some of the security features found in the KeepKey:
- Offline Key Storage: Private keys are generated and stored in an air-gapped environment, protecting them from online threats.
- PIN Protection: Access is secured by a user-defined PIN with randomized on-screen entry to prevent keylogging.
- Recovery Phrase: A 12-word seed phrase is provided during setup for wallet recovery; users are advised to store it securely offline.
- Firmware Updates: The latest firmware (v6.4.1) patched a PIN verification vulnerability, improving resistance to side-channel attacks.
- Open-Source Code: Firmware and client software are fully open source, allowing community audits.
- No Secure Element: KeepKey lacks a tamper-resistant chip, making it more vulnerable to physical attacks.
- Known Hardware Flaw: An unpatchable vulnerability allows recovery phrase extraction if the device is physically compromised—physical security is essential.
KeepKey PIN Vulnerability Discovered by Ledger team
In 2020, Ledger’s (yes, the ones behind the Ledger Nano X) Donjon security team discovered a side-channel vulnerability in KeepKey’s PIN verification process. By analyzing power consumption during PIN entry, attackers with physical access could extract the PIN using profiled voltage data. ShapeShift responded by releasing firmware version 6.4.1, which patched the issue. However, KeepKey still lacks a Secure Element chip, and a separate unpatchable flaw allows recovery phrase extraction if the device is physically compromised.
To stay protected:
- Update to firmware 6.4.1 or later
- Use a strong passphrase in addition to your PIN
- Keep your device physically secure at all times
3/5 Security Rating
Multi-Currency Support
KeepKey supports over 7,000 digital assets across more than 350 blockchains, including popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin. This broad compatibility is enabled through integration with the ShapeShift platform and Thorchain, allowing users to manage and swap assets directly via the KeepKey Desktop app.
Despite this expansion, KeepKey still lacks support for several major tokens such as Solana, Polkadot, and Cardano. Progress on improving ERC-20 token compatibility has been slow, and the wallet continues to trail behind competitors like Ledger and Trezor, which support over 1,800 assets.
2.5/5 Multi Currency Support
Hardware Design
KeepKey features a minimalist design with a single-button interface and a large 3.12-inch OLED screen that displays full wallet addresses and recovery phrases without scrolling. Its polycarbonate casing offers a smooth, weighty feel, though it’s prone to cosmetic scratches. The device connects via USB-A to USB-C, improving durability over older micro-USB models.
At 38 x 93.5 x 12.2 mm, KeepKey is larger than most wallets, which some users find less portable. Setup and management are handled through the KeepKey Desktop app, and the wallet ships in tamper-evident packaging with essential accessories like a recovery seed card and a braided cable. No changes have been made to its packaging materials to meet sustainability standards.
Installation
To set up KeepKey, users must go to https://www.keepkey.com/, download the official KeepKey Desktop app and install the KeepKey Updater software. The wallet no longer supports the retired Chrome extension. Setup includes connecting the device via USB, initializing or restoring with a 12-word recovery phrase, and updating the bootloader and firmware through the Updater app. Users should verify they’re on the real ShapeShift site to avoid phishing risks and ensure no cameras or digital backups are used when recording the recovery phrase.
4/5 for Hardware Design
4/5 of Ease of Use
Shapeshift Integration
KeepKey integrates directly with the ShapeShift platform, enabling users to swap cryptocurrencies without leaving the wallet or exposing private keys online. This non-custodial setup supports trading across 14+ blockchains and over 50,000 assets via decentralized exchanges like Thorchain. The KeepKey Desktop app provides a streamlined interface for managing assets, executing trades, and accessing DeFi tools—all without KYC.
Since ShapeShift’s transition to a DAO in 2021, KeepKey development has accelerated under decentralized governance, with ongoing firmware updates and expanded dApp compatibility through browser extensions and RESTful protocols.
Verdict: Is the KeepKey still worth buying in 2025?
KeepKey remains a budget-friendly hardware wallet at around US$78, ideal for users who value simplicity and open-source transparency. It supports over 7,000 assets and integrates with ShapeShift for in-wallet swaps, but still lacks a Secure Element chip, leaving it vulnerable to physical attacks.
The latest firmware (v6.4.1) fixes prior PIN vulnerabilities, but an unpatchable flaw allows recovery phrase extraction if the device is physically compromised. Coin support is decent but lags behind competitors like Ledger and Trezor, especially for newer tokens like SOL and ADA.
If you are a long-term holder of major coins and prioritize ease of use over top-tier security, KeepKey is still a reasonable choice in 2025.
Ratings (2025):
- Security: 3/5
- Multi-currency support: 2.5/5
- Hardware design: 4/5
- Ease of use: 4/5
- Overall: 3.38/5
KeepKey Product Specifications (Technical Specifications)
| Processors | ARM Cortex-M3 processor |
| Compatibility | 64-bits desktop computer (Windows 8+, macOS 10.8+, Linux). Also compatible with Android smartphones. |
| Connector | USB micro-C |
| Security Certification | Nil |
| Size | Size: 38 x 93.5 x 12.2 mm Weight: 54g |
| Supported Assets | 40+ Supported assets |