Keevo Model 1 is not as popular as Ledger or Trezor. Offering the first cryptocurrency beneficiary service is one of its major selling points. We will discuss what you need to know about the hardware wallet and who would find this hardware wallet appealing.
Hardware Review
The Keevo Model 1 hardware wallet, a USB-C cable, a welcome card, and a three-point getting started card are all included in the packaging. Magnetic-locking hardware called a “Carbon Key” is attached to the device and keeps the seed phrase safe. The display size is 3 inches. The lettering on the screen is enormous. This hardware wallet is larger than similar wallets and comparable in size to a small smartphone.
Keevo has a partnership with information storage firm Iron Mountain and provides its own inheritance service. The “Carbon Key” can be safely stored in Iron Mountain’s storage vaults for $6 per month. Plus, you may set up an inheritance in which a death certificate is required to get the “Carbon Key,” which includes instructions on how to access the money.
Opinion
Keevo Model 1 is different from other hardware wallets. The inheritance and storage features are a first in the industry. Plus, you don’t need to write down your seed phrase and worry about securing it. It’s also one of the few hardware wallets that use USB-C cords.
Activate and Setup Review
I go to Keevo’s website and download the software. I must create an account (it has onerous password requirements) before running the program. Then I’m required to validate number sequences sent to my email address and phone. After that, I move on to the next screen, which offers me three options:
- Establish a new Keevo wallet.
- Restore from the “Carbon Key.”
- Recover from a seed phrase.
I choose to create a new account.
To begin, you must enter the hardware wallet’s serial number. I must then mash in random letters and numbers on the touchscreen to produce the seed phrase. Then, I created a password on the Keevo Model 1 and submitted my fingerprint by repeatedly pressing the power button. After the session, the program asks if I want to sign up for one of their paid plans, but I continue without doing so. Finally, the system encrypts the “Carbon Key.” When it’s finished, I’m advised to store the “Carbon Key” somewhere secure.
Opinion
There are a few activation features that set this hardware wallet apart from others. I’m required to create an account to use the software (I have to enter a user name and password every time I start the Keevo Link program), I don’t need to remember the seed phrase, and I can select a payment plan.
Transaction Review
I can utilize the desktop software to send and receive money by initiating the procedures. I select my cryptocurrency account for receiving funds by clicking the receive symbol on the left sidebar. On the Keevo Model 1, I enter my password and fingerprint next. A public address string displays on the hardware wallet and the desktop software. Because a QR code doesn’t generate, I visit https://www.qr-code-generator.com/ and create a QR picture to scan. I deposit money into the Keevo wallet once I’m satisfied that it matches my public address (QR code scams are a genuine issue). The balance in the desktop app does not update even though the blockchain explorer shows the total amount sent to the wallet (minus mining fees paid). I restarted the program several times, but the updated balance did not change. As a result, it’s impossible to assess how to send money. I’m assuming it’s the same procedure as when you receive money: you’d have to provide your password and biometric scan, confirm the transaction specifics, and then send. But because the Keevo Link can’t update the balance, I can’t try it.
Opinion
It is frustrating that the desktop application does not update immediately, even after multiple app restarts. But at least the blockchain will have the correct balance, so I can always get my money back using a different wallet.
Security Review
The Keevo Model 1 hardware wallet uses a password and biometric authentication mechanism for access. You must supply login information when you receive and transmit funds on your device. You may also store your seed phrase in Iron Mountain’s vault and retrieve it at a later time if you need to restore your wallet on another Keevo device (the “Carbon Key” only works for this hardware wallet).
According to the manufacturer: “Keevo uses a hardware-based true random number generator on our secure MCU to create your private keys.” The website for the company has a whitepaper that goes into great detail about the device’s security functions.
Although your seed phrase is not shown at first and saved on the “Carbon Key,” you may view it by going into the device’s settings. Click the checkboxes to verify that you understand the hazards of recording your seed phrase. You’ll need to have the desktop software installed and running.
Opinion
Yes, there is a lot of security. I appreciate the use of passwords and biometric scans. Furthermore, the notion that you may keep your seed phrase offsite on a piece of hardware without having to write it down is unique. The beneficiary service can save you the time and effort of explaining private keys and seed phrases to individuals who may not understand. The “Carbon Key,” on the other hand, solely applies to the device’s supported cryptocurrencies. This feature is worthless if you have non-supported crypto assets.
Supported Coins
The Keevo Model 1 only supports Bitcoin (BTC), Ethereum (ETH), Ripple XRP (XRP), Bitcoin Cash (BCH), and Basic Attention Token (BAT) as of now. There’s no way to connect with other dapp services in the broader cryptocurrency ecosystem, either.
Overall Opinion
The Keevo Model 1 has a great appearance and is simple to use, especially with a touchscreen. I was disappointed in their app; it didn’t show the correct balance even after an hour had passed. I’m also not a fan of Keevo’s centralized features, such as creating an account, which stores all your personal information on their servers. For individuals who aren’t quite as familiar with cryptocurrency but still want to control their funds, this might be an excellent alternative. To me, it seems to contradict the cryptocurrency’s decentralized ideology. I wouldn’t say I like registering, and I wonder if the company monitors my transactions. I’m not sure either way. Suppose you want to get your money out of exchanges and don’t intend on participating in the broader cryptocurrency market (such as decentralized exchange platforms, defi, and NFTs). You have funds in supported currencies. In that case, this wallet is a good choice since it offers superior security features and extra services. Otherwise, this is a hardware wallet that you should skip.