hey guys welcome to another episode of Crypto Corner tutorials This will be a tutorial on KeepKey – how to get it set up and how to get started with using a hardware wallet like KeepKey which is – you probably know – one of the top three hardware wallets it was launched in 2015 and I remember at first it was quite expensive it was around 328 USD or something like that recently they've dropped the prices so I'm seeing more and more interest in KeepKey and I decided to get one myself so let's get started I'm going to show you how to set it up first of all let's open the box when the box arrives make sure that this hologram stamp here is not damaged or cut or sliced in any way this will mean that nobody has opened it or done any funny business make sure that this is sealed and brand new just like you see it here and when you open it let's first slips and I'll run to open it now we are seeing that the actual device this is the device itself that's how it looks this is the back and then we have the screen on the front -the whole front is a screen so all of the information will be displayed here and then have a button to navigate also then we are seeing these two papers one of them is very important so here you will be writing down 12 words that are they call it a "recovery sentence" – it's also known as mnemonic phrase or seed phrase – it's a combination of words that will be randomly selected the first time when you're setting this up and they will be protecting your private key that will be protecting they will be directly unlocking the information for that device you will not need to enter these words every time but if anything happens to the device this is how you're going to recover it so this is one of the best features of hardware wallets not and if that it gets damaged stolen lost or misplaced one you can get another one and you can synchronize it with your unique mnemonic phrase or "recovery sentence" and this way you will access your funds or you can even access your funds with this phrase in a separate service that is not related to "keep key" but that's another reason why you should keep this really safe and hard to find because you don't really want anyone to be having access to your code so this is pretty much the code /key to your "safe" if this is the "safe"
As you know with keep key you can hold a few different cryptocurrencies not just Bitcoin of course You can also hold Ethereum, and litecoin and dash and dodge a few ERC-20 tokens are coming very soon so make sure that you check out their website because this is where you're going to find the full list of all of the coins that they're supporting and that will be changing with time as well so let's move on to setting it up but first before I do that before I even connect it to my computer what I'm going to do is download the extension for Google Chrome so it will be working it will be navigated through an extension in Google Chrome which is actually safer than having it as a standalone application on your computer so this is the extension you just go to Google Chrome Web Store and you can search for KeepKey Client and make sure that is the official one as you can see it has over 23,000 users now I'm going to add it to Chrome and now it's showing that in the list of apps that I have So now I'm going what I'm going to do is first I will plug the small part of the USB to mini-usb into the device and computer and it leads up straight away and now the first thing that I'm seeing is an alert that I need to update my firmware so I will need to unplug my keep key and then hold down the button while plugging it and that will start the firmware update that's what I will unplug it now I'm going to hold this button and unplug keep-keep now it's giving me a message here that it is in firmware update mode I'm connecting to the internet just to update the firmware I have not set it up yet so I don't have a recovery phrase and it doesn't really matter for me if it's going to be completely wiped out this movie even better it means that I'm really starting here from scratch so now that I'm connected I'm going to click on update firmware and now I need to respond : Do you have your recovery sentence in case your private keys are erased? – I will verify because I actually don't have private keys yet, I have not set it up And now it's preparing for upgrade now it will install the latest firmware which basically means that right now I would have all the latest additions like new applications and coins and maybe they have added support for new tokens I am now seeing the message "please disconnect and reconnect " so let's do the same I will unplug it, okay and now I'm plugging again and now during this next step, my private keys will be generated this is a good time for you to exit from the Internet and this is what I'm doing right now offline initialize keep key first of all I can give it a label meaning that I'll just call it a name kk1 – Keep Key one because this is my first KeepKey Set Label
Now I need to choose a pin and I will be using this screen here so what is happening is: I will be selecting the numbers here but they are displayed on my screen so the first number is not 1 – as you can see on the screen it's number 2 then the next number is 6 and then the third number is actually 4 and this is how you're setting up a security pin which will be scrambled every time meaning that even if there is any malicious spyware/malware on your computer that might be even tracking your clicks because of that scrambled pin here and because of the fact that you are working with its own screen rather than anything that's being displayed on your computer you will still protects it you are still not vulnerable to a hacker with this device this is why I'm deciding to have that in addition to the other hardware wallets that I have so let's choose a pin so just to the purpose of this tutorial I will be choosing a pin that will be 1 3 5 4 of course this will be erased and wipes out after the tutorial but let's just try it so it's 1 3 5 4 And now I will continue with doing the same now I will need to find these numbers okay so now where do I see them one is in the middle and then we have three next to it and we have five is down and the floor is next to the one let's confirm and this is how it works now I can even see my recovery sentence these are the words that I need to write down and I need to put them down on that piece of paper I can do that also in a document in my computer but that would not be safe because my computer can get compromised and then any files that I have stored on my computer would be accessible therefore the best thing to do is to just write it down on the piece of paper and save it in a safe or you know people even engrave these on metal plates and have them saved in even sometimes scrambled in different places so that they're not all in one place depending on how much money you will be storing on top depends if it's got to be millions of course ok let's move on okay now when I get to the 12th word I'm going to click on this and now I'm seeing the last word here so all I have to do is just hold this button until the next page loads this is how I'm seeing that and now the second page I'm seeing the last word This was randomly generated one time and now this device is associated with this recovery sentence and as you see it's just 12 random words I did not have to be connected to the Internet and I do strongly advise you not to be connected to the Internet when you're doing that just for your own safety okay so let's move on to the next step I'm going to hold this button I have a pin and I have a recovery phrase now what I'm seeing here is that there a lot of new tokens that have been added Etherium token support ERC-20 tokens so let's close this and I'm now logging into my accounts and let's get started now this time I need to enter my pin okay so now we'll connected this is the wallet let me make it larger so this is how it looks and we have one button it's really simplistic – one button for settings then of course you have a receive button and you have a history of transactions
I don't have the "send" button yet because I have not made a transaction so I don't have anything here to send If I want to grab the wallet address, The first thing that you would want to do is copy your wallet address so that you can share it with people who need to send you money or if you want to be moving money into this wallet the first time you click it will generate a new wallet address after that you can change it every time if you wish and the next thing that I can do is send some funds into that wallet now this is here the wallet you can see the QR code and you can see the wallet address so this is my public wallet address this is the wallet address and I'm using when I'm receiving money so this is what I need to share with people I can copy that by clicking here on the green and then I can go into my application or I can even just go into my mobile wallet let's say I want to use my blockchain wallet and I can just go to the scan option now all I need to do is scan this and it's now recognized here this is the wallet address, I can select the amount that I want to send and I will go and click continue in fact let me do that right now so I'm going to send 5 euros worth and I will be paying 07 cents for that transaction so it's not a big deal so let's go and do that and now I'm going to wait a little bit for that transaction to clear so at least get 1 or 2 confirmations and then it will be seen here let me just see if I go back currently I'm on 0 let me refresh if I go to transactions I will see it here unconfirmed but it is already showing up which means that this was my correct address I made a transaction successfully, now all I have to do is wait probably half an hour maybe even sometimes an hour to get the confirmations so that it's actually cleared and then I will be seeing it here in my actual account so currently it's still on its way, it's pending – the process has begun so when you click on settings – this is the list of settings that you can navigate from the application to the device and you can change the name of the device or label you can change your PIN this is what I will be doing straight after this tutorial you can wipe to device this is another option that I will be using after this tutorial and of course if you have any problems you need to resolve an issue, contact their support team this is their website, this is just going to send you to their blog and the website that they have and as I said, the link is provided for you as well so make sure that you're going to the original website, to the official links and never try to just simply do a search often there would be phishing websites and it could be quite dangerous if you're if you land on a website that is not the genuine website now while I am waiting for this transaction to clear so you can see it here I will go to have a look at the other accounts that I can add here so bitcoin is the default account this is the currency that pretty much everyone is holding especially longer-term and then you have Bitcoin Cash and Litecoin, Dash, Dodogecoin, Ethereum, this is currently what we have so for litecoin let's say that I want to add LTC, what I'm just going to do is select here an account name for my litecoin and that would be LTC 1 I'm adding this account so now this is my first account for litecoin I can add more than one I can also have more than one click on accounts let's add another one this icon is now becoming a + icon so I'm just clicking on that I'll go here and I will select DASH this is another coin that I want to be hoding a bit longer term I'm adding that account as well and this is all done so now I have a Bitcoin account which is the main one then I have DASH, I have litecoin I can add Ethereum, I can add the other ones and in the meantime and seeing that my balance has been confirmed so now in my main account is no longer just a zero let's go into that so I have received the amount and what I can do now is I can send it to another wallet Here I will enter the address & the amount, I will select the full amount and it automatically shows me what is the miner fee that I will be paying I will agree to that and now I need to enter the pin and this is when the device comes into play again so now I need to select that pin which was 1354 so now it's asking me here to confirm this is the amount, this is the address, now I can go into my wallet and I can compare if this is the correct address and this is where I can check if this is the correct address so whenever you're sending money before you confirm it look at the address that is displayed that you received from the person you're sending the money to now I'm going to click here and hold it until it's confirmed so now it's asking me second confirmation do you want to send that amount from your wallet this includes a transaction fee of that much I'm confirming it's all done it's really quick and simple it's probably the most simple process out of all of the wallets which is what I like about it and now in my main account as we can see I'm back to 0
00 that's it if I go to transactions it will show me both of the transactions I received 000086585I have a fee that I was paying so I sent out 000082339 the same would be to operate with DASH and to operate with litecoin ETEHREUM will also be the same way it is got a very simple interface let's add Ethereum here just so that we can see how it looks ok my ethereum wallet has been generated and now I have also support for all of these tokens so if I have any of these tokens in addition to Ether in my Ethereum wallet I will be able to see them displayed here we'll be able to synchronize them I'll be able to send if I have any of these tokens into that same wallet because you know with ethereum tokens you hold them in the same wallet as your Ethereum "Receive" – this is how you can get your wallet address once you receive you will be able to use the send option as well another cool option is that I can just swap my bitcoin directly for DASH or directly for Ethereum or Litecoin, because I've created these wallets and as you see when I went to send option it asked me if it will be an external or internal wallet
so the list of the wallets was there and all I have to do is just select DASH and how much of Bitcoin I want to transfer straight into DASH it makes an instant swap because it has implemented the Shape-Shift service which is a very big exchange that provides instant swap service or Near-instant I should say ok so now I'm ready with everything I can close this and I can disconnect the device as well this is everything I needed to do next time when I need to use it if I need to grab my wallet you typically my wallet address I would have it saved somewhere (my public address) that I need to share with people if someone is to send you Bitcoin or Ethereum or any of the other coins, I would have that address easy to be able to just copy and paste make sure again let me remind you : DO not lose the 12 word seed phrase do not lose your "recovery sentence" because that is going to be the end of it and if you have lost your recovery seed but you are still using the device because you know your PIN, then perhaps what you need to do is move out your coins from this wallet into a temporary wallet and then you can wipe out the device you can set up a new mnemonic phrase or seed recovery sentence and then you can move the coins back into it it's basically resetting as a new device even though it's the same device you can reset / wipe out everything and have it set up as a new device so that's about it I hope this video is going to help you to get it set up easily and as you saw it's very easy to navigate with the software as well it is not as complicated as Ledger Nano S but it also doesn't have as big of a choice of coins as the Ledger Nano S however, it does the job for me and it also you don't have the limit of only holding 4 or 5 coins at the time which is what ledger does so if you liked this tutorial please share it with other people let me know what you think about it in the comments, did you like it or did you not? and also make sure that you subscribe and hit on that bell icon next to the subscribe button this will notify you next time when I'm posting a new video More tutorials are coming your way I'm doing another tutorial which will be on Trezor Wallet very soon and you can also check out my Ledger Nano S tutorial of course