Is Keplr Wallet Safe? A Guide to The Cosmos Ecosystem Wallet

In the risky world of cryptocurrencies, keeping the digital assets on the exchange is not safe and that is why crypto wallets are introduced. Cosmos (ATOM) is one of the popular decentralized networks delivering fast and efficient crypto transactions and demands a crypto wallet to maintain seamless interaction. Endless crypto wallets support the Cosmos ecosystem but Keplr wallet is one of the more versatile and compatible options. 

Let’s unpack the features of the Keplr wallet.     

What is the Keplr Wallet?

Kepler Wallet was conceived by the Osmosis team in 2021 to assist individuals in managing digital assets securely and effortlessly. It is one of the most powerful source browser extensions possessing similar characteristics to Metamask. However, Keplr Wallet operates on the Cosmos ecosystem.  

The wallet is the first one to lead the Inter-Blockchain Communication (IBC) for the Cosmos ecosystem and it possesses countless features. With around 1 Million users, 30+ chains, and infinite potential, the wallet established an unbeatable place in the crypto universe. 

Moreover, Browser extensions, Dashboard, Mobile applications, and Validator dashboards are a few of the main products offered by the wallet. Additionally, the wallet allows requests for 37 native chains and 118 non-native chains including Osmosis, Mars, Cosmos Hub, Terra Classic, etc.

What Can be Done With Keplr Wallet?

The friendly user interface, vital security, and support for a wide range of tokens and currencies make Keplr Wallet a great choice to store digital assets, mainly in the Cosmos ecosystem. 

The wallet possesses a wide variety of features including staking and earning rewards, participation in governance, tracking transaction history, and token transfers. 

The wallet permits individuals to claim rewards from time to time and they can utilize the upgraded features to manage the assets with enhanced flexibility. 

Apart from the ATOM token, the wallet also supports a wide variety of tokens including KAVA, SCRT, ACT, IRIS, ROWAN, IXO, etc.    

Advantages and Disadvantages 

The full IBC integration and compatibility are some of the most outstanding features of Keplr wallet. Individuals can store a wide variety of IBC assets in one place. Support for a wide variety of tokens and blockchains makes the wallet a great option for storing and using digital assets safely.

Furthermore, individuals can also explore the NFT projects and potentially purchase NFTs using the wallet. Additionally, the additional security with Ledger hardware wallets enhances the trust and reliability of the wallet.   

Despite these features and benefits, Keplr wallet possesses a few drawbacks including a lack of support for non-IBC coins including Bitcoin and Ethereum. Additionally, the wallet is compatible only with the Chrome or Brave browsers and doesn’t support browsers like Safari.    

Complete Setup of Keplr Wallet 

After exploring the features, drawbacks, and usage, it is time to understand the setup process of Keplr Wallet. A few easy steps can make an individual a Keplr Wallet holder. 

Installing the Keplr browser extension wallet is the very first step of the setup. Users can search for the extension on Chrome, Brave, Firefox, Android, Edge, and Apple iOS.

Once done, the user is all set to create a wallet by clicking the new wallet option available in the extension icon. While creating the wallet, the user goes through the recovery phrase which helps to enhance wallet security. Here, don’t forget to copy the seed phrase.  

Additionally, users have the liberty to choose chains on which they want to operate. Just select and save the preferences. Now the wallet is all set to send, receive, and stake tokens.       

Is Keplr Wallet Safe?

Keplr Wallet is a safe option to choose when it comes to asset security and privacy. The non-custodial wallet prevents individuals from accessing the account unless they have the private keys or recovery phrase details. Furthermore, integration with the Ledger cold wallet adds an extra safety layer to the wallet.  

Conclusion 

Keplr is a non-custodial, Cosmos ecosystem wallet that is known for offering secure  and quick storage services for crypto. The wallet supports native and non-native chains and offers a wide range of functionalities including staking and earning rewards, participation in governance, tracking transaction history, and token transfers.  

FAQs

What is Keplr wallet used for?

The wallet is used for safely storing and tracking cryptocurrencies along with staking tokens, voting for governance decisions, and connecting with mobile accounts.  

Is Keplr wallet Safe?

The wallet is heavily focused on maintaining asset security and is integrated with the Ledger cold wallet which adds an extra layer of security.     

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.