Do you want to keep your cryptocurrency safe? The Keywallet crypto hardware wallet may be the answer. This gadget safeguards digital currency offline, making it impossible to hack, lose, or steal. It’s a cost-effective approach to maintain all of your essential information in one secure location where only YOU have access. Is it worth buying?
The wallet comes in a tiny credit card-shaped package with a simple instruction leaflet and a chip card. The booklet instructs me to download the KeyWallet Touch app and utilize the inside pages to track my seed phrase. The manufacturer believes the wallet is incompatible with iOS because Apple does not allow third parties to control NFC technology on their smartphones.
The instructions in the booklet are relatively limited, simply telling you to download the KeyWallet Touch app to your phone.
Activation and Setup Review
I open the KeyWallet Touch app on my phone and download it. After launching the program, I go to the “Wallet” screen and create a new wallet. The next screen asks me to choose between a virtual or physical card; I choose physical. There’s an option to provide a passphrase, but I leave it unchecked. Finally, I set up the PIN and double-confirm it. During the procedure, the app requests that I place the chipcard under the phone once again.
It took me ten minutes to figure out how to activate the physical card. I put the card under my phone during the entire process, but it didn’t work. I tried again and again, but each time it still didn’t work. So I found out that you have to put it under your phone once for activation and then remove it afterward. I should have put my Keytouch chip card under my phone again when the process of configuring my PIN ended. This moment is when I should have placed it under again and allow the transmission to finish the setup procedure. Put it under and then remove it, then put it back under when prompted.
After I set up my wallet, there is a prompt to make a backup.
The NFC setup was confusing. I’ve never used this technology before. Despite the clear app instructions, determining the placement took longer than it should have. I might have completed the entire activation time in less than 5 minutes.
In the app, receiving a transaction is straightforward. A QR code appears next to a button to copy the address, and you click the “Receive” button.
In the app, sending a transaction is simple. To send a transaction, click on “Send,” then copy or scan the public address, choose your fees, and then hit “Send.”
There’s also an exchange feature in the app. This part allows you to exchange a restricted number of coins and tokens for others. You have a choice of 15 currencies and tokens. The 0.5% fee for swapping, as well as gas fees (ERC-20), are deducted from your balance.
Transactions appear to be a simple procedure. When using the physical card wallet, you must sign the transaction by placing your chip card beneath the phone. You may need to enter your PIN for confirmation if you’re using virtual cards (aka “hot wallet”).
The swap function is a valuable feature. I’ve never used it, so I can’t say anything about it. It may route swaps through a 3rd-party coin swap platform or a proprietary DEX.
You can use the wallet to set up a PIN to safeguard access to the mobile app. You may also pick a passphrase, which is another secure option. However, if you don’t store or recall the passphrase, you will lose access to your money permanently.
The KeyWallet Touch has been tested and certified to be secure by the manufacturer, who claims that it has passed all tests and certifications, including CC EAL and FIDO U2F compliance.
The mobile app, like other wallets, has basic security measures. Because I could not locate a manufacturer’s website for this item, the only information on security standards I could discover was from the product’s Amazon description.
There are only a few coins and tokens that are supported, including Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP coin, Bitcoin Cash (BCH), Litecoin (LTC), and ICX.
The KeyWallet Touch is a credit-card-sized USB device that doesn’t require charging, can fit in your wallet or handbag, and may be used almost anywhere. The mobile app also offers enough security to keep out typical intruders if your phone is lost or stolen. If you’re using the actual wallet in the application, you cannot send funds unless the card is physically present.If you want to trade in the broader cryptocurrency market, the KeyWallet Touch wallet isn’t for you. You’re confined to a small number of coins and tokens, with no opportunity to link with other dapp services. The URL on the chip card leads to a blank website, but I did discover the website for a firm called Keypair, which appears to be a valid vendor. The KeyWallet Touch and the chip card are only available as a mobile app, and they work with NFC technology smartphones. If you want to use it on a computer, you’ll need the KeyWallet Reader add-on. However, I wouldn’t rely on the hardware having an instruction booklet – judging by the lack of one for this product.