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Choosing a crypto storage solution is a big decision. You need to ensure that your wallet is secure while still being easy to use and having a good selection of features. While it can be difficult to find the best option, Keplr Wallet has been making waves as an excellent alternative to better-known options like Atomic Wallet. Throughout this Keplr Wallet review, we'll explore its features, fees, security, and overall usability to help our readers decide whether it's right for them.
Keplr Wallet is a suitable cryptocurrency wallet for anyone invested in Inter-Connected Blockchain (ICB) ecosystem projects like Cosmos. While the wallet is secure, easy to use, and fairly feature-rich, its lack of support for mainstream cryptocurrencies means its best suited to people wishing to store ICB cryptocurrencies solely. For this reason, alternative software wallets such as Metamask and Trust Wallet may be better options.
- Can stake crypto assets
- Minimal personal information required
- Supports NFTs
- Doesn't support all the major networks
- High fees to buy crypto with fiat
- Stake your crypto. Keplr has built-in staking support, enabling users to passively increase their portfolio without moving their holdings to another wallet, which is perfect for users with funds in the wallet who don’t wish to pay transaction fees for transferring assets to an exchange.
- Minimal personal information is required. You can get started with Keplr Wallet without inputting personal details, which is great for privacy-focused individuals.
- NFT Support. Keplr Wallet supports NFTs, making the wallet a highly convenient storage option for those invested in traditional cryptos and the NFT market.
- Lack of support for major networks. Unfortunately, Kelpr is designed solely for Inter-Connected Blockchains (IBC) like Cosmos Network. As such, the wallet does not support popular assets like Ethereum, Bitcoin, and XRP, which means it's unlikely to be suitable for storing a well-diversified portfolio of assets.
- High fiat-to-crypto fees. Because Keplr Wallet doesn't directly support fiat purchases or deposits, you'll have to pay large fees to a third party to buy crypto in-app.
Keplr Wallet Compared and Alternatives
Keplr is highly competitive regarding cost. The wallet is on par with Atomic Wallet and Exodus Wallet with zero upfront or maintenance fees based on our reviews. Therefore, price shouldn't be a decision-making factor when looking for a software wallet.
|Wallet||Supported Cryptos||Pricing||Mobile App||Built-In Exchange|
Keplr Wallet At a Glance
Founded in 2021, Keplr Wallet is designed as a storage solution for Inter-Connected Blockchains (IBCs) like the Cosmos ecosystem, Kava, and Terra. Created by Chainapsis and based in South Korea, the platform has around 1 million users, highlighting its popularity within the industry.
|Wallet Name||Keplr Wallet|
|Price||Free (Fees apply for staking and buying crypto)|
|Features||Fiat-to-Crypto Gateway, Staking, NFT Support, Non-Custodial|
|Accepted Fiat Currencies||USD, GBP, EUR, + 37 others|
|Deposit Methods||Crypto (Native), Credit/Debit Card, and Bank Transfer (Third Party)|
|Customer Support||Help Center, Live Chat|
|Security Measures||Non-Custodial, 12 or 24-Word Recovery Phrase, Local Data Storage|
|Mobile App||Yes (Android and IOS)|
Keplr Wallet Features Reviewed
Non-custodial wallet security
Additional security is one of the largest advantages of storing your funds on a Keplr Wallet rather than keeping crypto on an exchange. As Keplr is a non-custodial wallet, you have complete control over your private keys, providing true ownership of your funds. While this is excellent for more experienced crypto investors, looking after your keys can be daunting for beginners who may prefer the simplicity of an exchange wallet.
On top of being non-custodial, Keplr lets you decide whether to use a 12 or 24-word recovery phrase to decide whether you prefer extra security or improved simplicity. Thanks to this customizability, Keplr Wallet is highly versatile, making it a strong choice for a wide range of investors, regardless of their preferences.
Buy crypto directly through Keplr wallet
Although crypto wallets are generally tailored to those with existing crypto holdings, Keplr Wallet makes it easy for investors to make their first foray into the crypto space by including a fiat-to-crypto exchange directly within the wallet software. Due to its simplicity, this system is ideal for those wishing to quickly top off their balance or anyone wanting to buy crypto without signing up for a crypto exchange.
While Keplr's fiat-to-crypto gateway is directly ingrained into the wallet, the service is provided by one of three third parties; Kado, MoonPay, and Transak. As such, fees, supported coins, and payment methods will vary between providers. Therefore, it's best to browse through each to find the best deal for your needs.
Stake your favorite assets
A great tool offered by Keplr Wallet is the in-built staking support. Using this service, you can passively increase your portfolio using funds already in your wallet, making staking highly convenient for Keplr's users. The service can be accessed through the 'Chains' section of the platform, with each supported asset and the APR clearly visible, making it easy to decide whether you want to stake your assets on Keplr. Conveniently, it provides support for the most popular staking tokens.
Keplr aggregates most major validator pools, so after clicking on an asset, each validator will be displayed, along with their voting power, percentage of total token supply in the pool, and the commission rate. Compared to other crypto wallets we've reviewed, Keply offers some of the most in-depth information, which is a massive help for users trying to decide which staking platform is best.
Safely store NFTs
Non-Fungible Tokens (NFTs) have grown to become a multi-billion dollar market, with many crypto investors venturing into the space. Unfortunately, many other wallets do not have NFT support which can make storing these assets difficult or, at the very least, requires you to set up multiple wallets, which can be time-consuming and confusing.
However, Keplr supports NFT directly in-app for any of the wallet's supported blockchains. You can send your NFTs directly to your Keplr Wallet to view them in a digital gallery and see an estimation of their value. Furthermore, Keply has partnered with the NFT marketplace called Stargaze, enabling both platforms to work together seamlessly, vastly improving ease of use and making buying NFTs more accessible to beginners.
Supported Fiat Currencies and Deposit Methods
Unfortunately, Keplr Wallet does not have native support for any fiat currency. As such, you must deposit funds using cryptocurrency. However, you can buy crypto with 40 fiat currencies via its third-party partners; MoonPay, Transak, and Kado.
Although the Keplr browser extension wallet is mostly well-rounded, the lack of support for major cryptocurrencies lets it down. Being focused on ICB cryptos, Keplr only supports blockchain applications like the Cosmos app (ATOM), Terra (LUNA), and Crypto.com token (CRO). In total, you can add 38 networks to Keplr Wallet and store any token created using their architecture.
Unfortunately, Keplr Wallet does not support popular cryptocurrencies like Bitcoin, Ethereum, or XRP. Therefore, anyone looking to manage a diverse portfolio of assets from one wallet will need to consider other options we've reviewed like Exodus or Trust Wallet, which support a far larger range of assets.
Keplr Wallet Pricing and Fees
Like some of the other crypto wallets available to investors, Keplr Wallet is free to download, install, and use. However, a few additional fees are associated with the wallet worth keeping in mind.
Firstly, when staking your assets, you will lose a portion of your earnings to pool commission, around 1%-20%, based on the validator. However, Keplr does not levy this charge, and the wallet receives none of your funds. Additionally, buying crypto with faith will incur a variable fee that changes based on asset, quantity, and service provider but typically ranges between 2% and 5%.
Setting Up A Keplr Wallet
Creating a Keplr Wallet is simple. Being software-based, you only have to download the Keplr browser extension to set up a wallet. During the setup process, you must decide whether to use a 12 or 24-word seed phrase; the former offers greater convenience, while the latter provides more security. No personal details are required making the wallet a great choice for those looking to preserve their privacy.
Keplr Wallet Ease of Use
When considering which wallet is right for you, usability and user experience are important considerations. Thankfully, we found Keplr Wallet easy to use and set up. Initially, you must download a browser extension and generate seed phrases to restore the wallet. Alternatively, you can register with Google to streamline the sign-up process and use your email to access your wallet.
Understanding that operating Keplr Wallet is divided between the browser extension and the online dashboard website is crucial. Through the extension, you can monitor your portfolio and staked assets. However, to manage them, add new chains, or stake your crypto, you must use the online dashboard, which could cause some confusion for those without experience with extension-based wallets.
Sending crypto using Keplr will feel familiar to anyone who has sent a crypto transaction. You select the chain, input a crypto address, choose a token, enter the transaction amount, and add a memo (if needed). As such, Keplr Wallet is ideal for anyone with some crypto wallet experience that wants to store their ICB assets in an independent wallet.
Overall, during testing for our Keplr Wallet review, we found the software similar to other web applications, making it suitable for beginners and those with previous experience. Sending transactions and staking your funds is intuitive, making the wallet a solid choice for anyone looking for a no-frills crypto wallet for ICB assets.
Keplr Wallet App
The Keplr Wallet app is available on Android and iOS devices and boasts a relatively strong rating of 4/5 based on over 1,250 reviews. However, many users shared issues surrounding lag, features working incorrectly, and reliance on the desktop version of the wallet, indicating that many users think the app could be improved.
Signing into the mobile app is streamlined and simple. You can recover a wallet using your seed phrase and sign in with Apple or Google, which could be perfect for beginners worried about forgetting their seed phrase. However, it's worth noting that when using seed phrase recovery, never input a capital letter, as it will lead to your mnemonic not being recognized.
Thankfully, the Keplr Wallet app boasts similar features to the desktop platform. You can send and receive cryptocurrency without hassle, which is crucial for any crypto wallet. Additionally, you can browse through validators, viewing the voting power and commission to decide where to stake your tokens for maximum returns, which will appeal to fans of passive earning opportunities.
Overall, we found the Keplr Wallet app fairly well-designed and simple to use. Most features are accessible on the homepage, with you having to swap chains to access different assets, which is highly intuitive. While some users have reported issues with the app, we didn't experience any during testing for our Keplr Wallet review. As such, we found the app suitable for anyone not requiring advanced functionality.
To ensure that nobody is left confused when using Keplr Wallet, the company has created a comprehensive help desk containing more than 40 guides covering simple issues like navigating the app and more serious problems like log-in troubles. Furthermore, the support team has created several video tutorials aimed at beginners, which is excellent for helping those in the space understand how the wallet works.
On top of the help center, Keplr offers an automated chatbot directing you to relevant articles. Additionally, you can speak to a team member through live chat, but advisors are only available during certain times of the day, which could result in wait times of up to 24 hours for a response. While Keplr's support team will suit most people, it would be nice to have faster responses for critical issues.
As Keplr Wallet is used to store your funds, security is paramount. Unfortunately, the company has not revealed much about its protective measures. However, we do know that the wallet is non-custodial, meaning that users have complete control over their private keys. Additionally, your keys are stored locally on your device, meaning that accounts cannot be hijacked by a bad actor hacking Keplr's servers.
On top of local storage for critical information and encryption through a password, Keplr Wallet can be linked to a Ledger Nano X to provide greater security; Keplr stores the funds while the Ledger device acts as a form of physical verification. Considering that the best hardware wallets are the more secure way to store crypto, the ability to link Keplr to a Ledger will be a large positive in the eyes of the security conscious.
Frequently Asked Questions
Keplr Wallet is a non-custodial crypto wallet for the Inter-Connected Blockchain (ICB) ecosystem. It functions like a typical wallet but doesn't support assets like Bitcoin.
A Keplr wallet is completely non-custodial, meaning your funds are on the blockchain secured by your recovery phrase. Combined with the ability to link a Ledger to your account, Keplr is as safe as alternatives like Atomic Wallet.
Typically, memos are required for exchange wallets as they act as an extra identifier. Therefore, Keplr, being a non-custodial wallet, does not need a memo.
Final Verdict and Scores
During testing for our Kepl Wallet review, we found it secure, intuitive, and user-friendly. However, while most investors will appreciate the ability to stake your cryptocurrency to earn passive rewards, the lack of support for mainstream projects like Bitcoin, Ethereum, and Cardano severely limits its usability. Therefore, Keplr Wallet best suits those wishing to separate their ICB investments from their regular portfolio.
|Keplr Wallet Criteria||HedgewithCrypto Rating|
|Features||4 / 5|
|Supported Fiat Currencies and Payment Methods||4 / 5|
|Supported Cryptocurrencies||4.5 / 5|
|Pricing and Fees||4.2 / 5|
|Ease of Use||4.2 / 5|
|Customer Support||3.8 / 5|
|Security||4.2 / 5|
|Mobile App||3.9 / 5|