BitKeep is a decentralized, multi-chain digital wallet that allows users to store and use a wide range of digital assets – its aim is to provide an all-in-one solution that is both secure and convenient.
The cryptocurrency market continues to develop rapidly and an ever-growing number of people are looking for better ways to manage their digital assets.
Most of them no longer want to use multiple wallets or have fears over their security, and this is where BitKeep Wallet steps in. This review will see how BitKeep Wallet achieves those goals as we analyze the pros and cons of using it.
What is BitKeep Wallet?
BitKeep is a decentralized multi-chain digital wallet that provides an all-in-one solution for Wallet, Swap, NFT Market, DApp Browser, and Launchpad. It offers reliable asset management and trading services to more than 8 million users worldwide, covering 168 countries in North America, Europe, and Asia. But what does it look to do differently from its competitors?
BitKeep aims to be an all-in-one solution, combining a wallet, a swap feature, an NFT market, DApps, and a discover function all in one place.
The company has also formed partnerships with several well-established mainnet networks and BitKeep acts as their authorized wallet. Overall, it supports over 80 mainnets, more than 20,000 DApps, over 220,000 NFTs, and over 250,000 tokens.
BitKeep’s stated aim is to become the largest Web 3.0 gateway in the world. In order to achieve this lofty goal, it needs to provide a wide array of services to both its partners and customers.
Their blockchain partners receive mainnet launch support, DEX and DApp support, NFT management, all-platform traffic support, as well as assistance with large-scale campaigns.
The company has also focused its energy on the budding NFT trade. The BitKeep NFT market allows users to list third-party pending orders without locking the digital assets and currently supports NFTs on ETH, BSC, HECO, and Polygon.
With all this in mind, let’s look at the pros and cons of using the software, as well as how it works.
BitKeep Pros & Cons
Here’s a look at the biggest advantages and potential drawbacks of using the BitKeep Wallet.
Pros
Cons
BitKeep Supported Coins
BitKeep aspires to become one of the leading digital wallets and currently supports 250,000 types of cryptocurrencies across over 80 chains, including the most prevalent blockchain networks.
Realistically, BitKeep has only a few competitors in terms of the number of chains it supports, as well as the tens of thousands of DApps that it integrates.
As mentioned, the app has attracted more than 8 million users worldwide. The company continues to expand the features and functionality of the wallet to meet the needs of its growing user base.
Some of the blockchains supported by BitKeep include Bitcoin, Ethereum, Binance Chain, Solana, Polygon, Fantom, and Polkadot.
The wallet does not currently support Cardano (ADA), but this is likely to be added soon, while Bitcoin can be bought but cannot be sold for fiat.
BitKeep Fees
Wherever possible, BitKeep maintains low costs for its customers.
Customers will generally only pay network fees plus a small fee when swapping coins. The gas fees are charged according to mainnet requirements.
Furthermore, BitKeep’s decentralized exchange will only require a small processing fee.
The economic model for the company doesn’t hinge on customer fees but rather on the users’ interaction with the supported DApps.
BitKeep Safety and Security Aspects
BitKeep has potent privacy features, including mnemonic phrases and private keys that keep your account secure.
When users try to extract their mnemonic phrases and private keys, the system will prompt and warn them to proceed with caution. Also, private keys are split into two sections when extracting, for further security measures.
Focus on Anonymity
One of the standout privacy features of the wallet is that it can be used completely anonymously without having to go through any KYC (know your customer) protocols.
DESM Encryption
BitKeep uses a DESM (Double Encryption Storage Mechanism) encryption algorithm that is more secure than traditional encryption methods.
DESM is a set of algorithms customized by BitKeep wallet for the encryption and storage of your mnemonic phrases and private keys. This means that only you have access to your data and no one else can see it or tamper with it.
Two-Factor Authentication
BitKeep also offers 2FA (two-factor authentication) and other security features to keep your account safe. Yes, 2FA may be standard practice in the industry, but it is usually extremely effective.
It means that hackers breaking into your account must bypass another security measure in the form of an additional Google Authenticator or SMS verification code.
Security Detection
BitKeep has included Go+ Security, a contact verification tool, in its DApp Browser. Users can use this feature to verify smart contract addresses on ETH, BSC, Arbitrum, Polygon, HECO, AVAX, Fantom, Harmony, and OKX.
BitKeep also offers authorization detection to check the authorization history of your wallet address. If there are unauthorized assets that you are unaware of, you may revoke the authorization using BitKeep Wallet.
Open-Source Software
BitKeep Wallet uses open-source software, which allows anyone to review the code and confirm its legitimacy.
However, it is worth noting that BitKeep is a hot wallet, which means that it is connected to the internet and can be accessed from anywhere. It is important to only install the wallet on trusted devices that are free from malware in order to ensure the security of your funds.
BitKeep’s User Experience
BitKeep is a multichain crypto wallet that was founded in 2018 with the goal of becoming the largest gateway to everything in Web 3.0.
While BitKeep is extremely popular in Asia, the company’s sights are set on even bigger things, with the wallet currently available in 168 countries, putting user experience as its top priority.
The wallet combines coin swaps, a wallet, a launchpad, NFTs, and DApps in a single app and has already won over millions of users.
The wallet, as mentioned, supports hundreds of thousands of assets across more than 70 chains, including the top 30 most popular chains. The software is available for mobile devices running on Android or iOS and can be easily downloaded for free from the App Store or Google Play Store.
It is also available for desktop computers through an extension for Chrome-based browsers, which is also free.
BitKeep is focused on DeFi (decentralized finance) and offers access to over 20,000 vetted blockchain DApps. The DApp ranking section is divided into ten tabs: DeFi, NFT, Bridge, Exchange, Tools, GameFi, Market, Social, Lending, and Airdrop.
Furthermore, it also allows users to store and manage their NFTs within the wallet and currently supports NFTs on ETH, BSC, HECO, and Polygon.
The wallet’s aggregated NFT market allows users to list third-party pending orders without locking the NFT.
The wallet’s Swap service includes 75+ built-in Swap protocols and 14 cross-chain bridges and enables instant token swaps for over 250,000 tokens without requiring a native token as a gas fee – BitKeep reports a monthly Swap volume of over $1 billion.
Last but not least, BitKeep provides 24/7 customer support through their Discord and Telegram communication channels.
Transferring Funds into BitKeep
To add funds to your BitKeep wallet, you can transfer from a cryptocurrency exchange or from another wallet and even purchase cryptocurrency using BitKeep’s OTC service.
Here are the easy steps that you’ll need to follow to transfer cryptocurrency into BitKeep:
- Log into your BitKeep wallet
- On the Wallet tab, click Receive
- Choose the blockchain network on which your coin functions e.g. BNB
- Copy your address, or use the QR code to make the transfer
- Wait for confirmation of the payment which will show in your Wallet tab
You can use the OTC service in BitKeep Wallet to purchase cryptocurrency with fiat currency. BitKeep OTC service accepts Visa, ApplePay, GooglePay, and USD credit cards:
- Select ‘OTC’ on the BitKeep Wallet homepage.
- Choose the cryptocurrency you want to purchase and select the respective blockchain.
- Enter the amount to buy. Depending on each cryptocurrency, the minimum purchasing amount varies from $15 to $30.
- Tap ‘Next’ and choose the payment mode. Wait for the transaction to be completed, and you will see the purchased cryptocurrency on the BitKeep Wallet homepage.
BitKeep also offers internal transfer functionality that allows users to transfer assets using cloud wallet addresses between different BitKeep Cloud wallets.
BitKeep Features
BitKeep’s stated goal is to become a one-stop solution for those looking for a crypto wallet to solve all of their needs.
Because of its aim, the company has invested heavily in a large number of features – here’s a look at some of the most important ones:
The BitKeep Wallet
Of course, the BitKeep wallet feature is the project’s bread and butter and serves over 8 million users in 168 countries.
It supports over 250,000 assets and is available for iOS and Android devices, making it a convenient and user-friendly DeFi wallet for both beginners and experienced users.
BitKeep Launchpad
The BitKeep LaunchPad is another useful feature, allowing users to participate in emerging projects from their earliest stages. Users can submit their own projects or help promote others, with projects listed in two sections: BitKeep Projects and Aggregation Platform.
BitKeep’s own NFT Marketplace
The NFT marketplace on BitKeep makes it easy to buy, sell, and trade digital assets and has a unique search capability that aggregates NFTs from multiple chains and NFT marketplaces across the DeFi sector.
This makes it easy to find the NFT you’re looking for. As the BitKeep wallet supports numerous coins, you can buy and trade NFTs using any token or cryptocurrency. It is one of the unique features that the competitors do not offer.
The DApp Store
One of the standout features of BitKeep is its DApp store, which gives access to over 20,000 decentralized applications running on the blockchain.
The store supports Ethereum, Binance Smart Chain, Fantom, and Polygon and is considered one of the most comprehensive DApp stores available.
The BitKeep DEX
BitKeep even includes a DEX (decentralized exchange) that supports a large number of tokens.
While its reputation is still growing, the BitKeep DEX offers a convenient swap feature called InstantGas Swap. This unique feature allows you to swap any cryptocurrency without needing the native token as gas fees. The system will adjust the gas fee automatically and deduct the equivalent amount from your wallet balance.
Overall, the DEX makes trading DeFi tokens simple, fast, and affordable.
Support for Over 80 Blockchains
The wallet offers support for some of the top 30 blockchains, including Bitcoin, Ethereum, BNB Chain, TRON, Polygon, Arbitrum, Avalanche, Optimism, Fantom, and Solana.
This extensive support for different chains makes BitKeep one of the most comprehensive digital wallets available.
BitKeep Academy
In addition to its core features, BitKeep also offers educational resources at the BitKeep Academy. Here, users can learn about cryptocurrency, blockchain technology, and the uses of Web 3.0 for free.
BitKeep Customer Support & Service
BitKeep provides customer support in a variety of ways.
Users may be able to get an instant answer by heading over to the project’s official Telegram and Discord channels.
Besides this, users can also email customer support, or look for an answer to their issues in the BitKeep Study section.
How to Use BitKeep
BitKeep aims to become a unifying Web 3.0 force, and, as we mentioned, it’s invested in numerous features. The BitKeep Wallet, however, is the most important one. Let’s look at how to use the wallet.
- Download the BitKeep wallet’s software. This is available for iOS and Android mobile devices, as well as a Chrome extension for your desktop browser
- Set up a password and write down your 12-word mnemonic phrase. You’ll use this to import the wallet information and to keep it secure – additionally set up 2FA
- Click on the Send tab and input the required address in order to transfer crypto funds.
- Click on the Receive tab to add funds. Choose the mainnet (e.g., Polygon for transferring Matic), copy the address, or scan the QR code. Wait for confirmation of the transaction. Funds will show in the wallet’s dashboard.
- To swap coins, either click the dedicated tab or click on the balance of the coin you wish to swap. Opt for the slippage amount (e.g. 2%). The TX fee will usually be 0.2 – 0.3 %. Click Confirm and confirm your security info. Once the transaction is confirmed, it will be reflected in your balance information.
The Verdict
One issue with crypto centralization is that when a single company manages too many digital assets, it may cause security vulnerabilities. Eventually, it can potentially lead to the loss of funds if the centralized entity is compromised.
To address this, many cryptocurrency users are seeking better ways to buy, sell, and store their coins.
BitKeep Wallet is a digital wallet that offers a decentralized, multi-chain solution for managing digital assets. With just a mnemonic phrase, users can access over 250,000 tokens on more than 80 chains.
In conclusion, and in addition to its wallet functionality, BitKeep also integrates coin swaps, a launchpad, NFTs, and DApps in a single app and aims to be the largest gateway to everything Web 3.0.