The Simple Bitcoin Hardware Wallet. KeepKey is a hardware wallet that secures bitcoin, Ethereum, litecoin, dogecoin, dash, and namecoin. Your assets are protected from hackers and thieves. How it Works. KeepKey works with the wallet software on your computer by taking over the management of private key generation, private key storage, and transaction signing. Initialization. KeepKey generates private key using its hardware-based random number generator, combined with randomness provided by your computer. Backup. Once your private key is generated, you are given the one-time opportunity to write down a backup of your KeepKey in the form of a twelve-word recovery sentence. Secure Storage. Your private key is stored securely on your KeepKey, never leaving the device. Your KeepKey is PIN-protected, which renders it useless even if it falls into the wrong hands. Transacting. KeepKey’s large display gives clarity to every digital asset leaving the device. Each transaction must be manually approved using KeepKey’s confirmation button.