I'm a little lost about these... is everything stored on the KeepKey? Like if you took that from one PC to another, doing fresh MultibitHD installs on each one, would it be the same as doing it all on one PC? And does this make it safe to also transact from PCs you might not otherwise trust?
The main thing is the private key does not get stored on PC. With the private key you basically have control of the BTC. That is the magic is keeping key on hardware wallet.
It is truly it is a luxury wallet. It has a nicer screen, and case then others. You can get cheaper ones but they wont come with this. But everyone's needs are not the same so I realize pick of wallet is kinda a personal decision.
It is my first hardware wallet I have to say I'm starting to really like it. I was not sure when getting it what I would think. But it's kinda a nice change. Still early but there are some very nice features with hardware wallet.
I love the look of it,
. It's really modern and that's awesome.But the KeepKey also does the signing on the device itself, right? So even if you're on a system that's compromised, it wouldn't hurt it since the system wouldn't be able to access the private key?
Correct even it signs the transaction on the device. And it stores the key on it aswel. So even if there is a keylogger or virus this should not be able to be compromised. Even if they were watching your screen during entering of key they would not know what number you hit since it changes on keepkey screen.
I wondered what happened if you enter it wrong on PIN, curious if bruteforcing is possible. And luckily it is not after a few wrong tries it adds a delay, and this delay keeps getting doubled each time. So another thing that seems to add to me feeling safe.
This is awesome. I'm really looking into getting one now. My PC was apparently compromised months ago and I had generated addresses/encrypted immediately after/sent coins to them. Found out a couple weeks ago that somehow two of the wallets were compromised and I had lost ~8 BTC. Expensive mistake but it's made be MUCH more wary about security of coins.
That is the great thing I'm learning about hardware wallets. It seems they take out the hassle of holding safely. I have always been a strong paper wallet person. And they are still great if done right, and that is the key thing if done right.
The only way to lose your btc it seems is if you store the recovery words insecure. It gives you recovery words so if lost/stolen you can get a new one and easily restore. It comes with a card in a very nice woven holder (again on luxury the holder is not a cheap feeling thing) but you store it in that. I would suggest that goes to safety deposit box or something close to that.
So with that being only weakness that is pretty amazing as far as spending. I'm really turning into a pro-hardware wallet person.
