KeepKey works with the wallet software on users’ computer by holding the control of private key production, private key storage, and transaction signing. It is one hardware wallet that guards bitcoin, bitcoin cash, ethereum, litecoin, dogecoin, dash, bitcoin gold, and multiple ERC-20 tokens.
How to get started?
There are some important things which are necessary to get started. These are KeepKey device, USB cable, Computer, Latest Version of Chrome Web Browser, and your recovery card.
How to initialize a KeepKey device?
Precautions
Never disclose the recovery sentence to anyone. Save your recovery sentence in a safe place. Never enter your recovery sentence undeviatingly into any computer or phone. Do not save your recovery sentence on any computer or phone. Also, do not email it or private message it to anyone for any reason. Use different addresses for each transaction. This will give the greatest level of anonymity and safety. Pick a PIN that is different and that you can retrieve.
How does a transaction take place?
Users start transactions in the computer client just as they did before applying a KeepKey. The computer does not store private keys and is accordingly not ready to approve transactions. The computer client must pass transactions to the KeepKey, demanding they be approved. Once a call is accepted by the KeepKey, it presents the transaction specifications and hints the user for standard authentication via a button. Once confirmed by the user, the transaction is signed and retreated to the computer client to be declared on the Bitcoin network.
If you misremember your PIN, you will be clasped out of your KeepKey. You will, however, still be capable to recover your bitcoins with the recovery sentence.
KEY FEATURES:
KeepKey maintains BIP32 wallets, or what is generally called HD wallets. This enables KeepKey to create and save an endless number of private keys. KeepKey also maintains BIP44, which permits for aggregation of accounts. KeepKey can establish a substantially endless number of wallets, with an endless number of private keys.
A standard wallet allows you to send, receive and most importantly, store cryptocurrencies. There are different types of wallets such as Web-based Exchange-Hosted Wallets (Coinbase, Gemini, Binance, etc), Web-Based Online Wallets (Blockchain.info, for example), Traditional Cold-Storage Paper Wallets (bitcoinpaperwallet.com, bitaddress.org).
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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