Block, a company co-founded by former Twitter CEO Jack Dorsey, announced the global launch of Bitkey, its new Bitcoin hard wallet. This device, with a unique hexagon-shaped design, offers users the ability to self-custody their BTCs, integrating security and functionality. Bitkey comes equipped with a suite of recovery tools, meeting users’ needs in cases of lost phone, hardware, or both.
Bitkey’s mission, as described on the company’s official website, is to give people greater control over their Bitcoins. This provides a self-custody solution that is easy to use and secure. The product incorporates three essential elements: a mobile application for transactions via phone, a hardware device for offline security of funds, and a suite of recovery tools.
move your bitcoin off the exchanges: https://t.co/x1oLkjhs0H
— jack (@jack) December 7, 2023
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Bitkey Promotes Secure BTC Self-Custody with Integration to Major Platforms
Additionally, Bitkey is already integrated with Coinbase, one of the largest cryptocurrency exchanges, and Cash App, facilitating the transfer of assets between platforms. Thomas Templeton, team leader at Bitkey, emphasizes continued collaboration with Cash App from the beginning and looking for other synergies.
The new hardware wallet will be available to consumers from February 2024, with pre-orders now being accepted via bitkey.world. The price is set at US$150 (about R$740), with the note that additional taxes may apply depending on the consumer’s region.
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Jack Dorsey Emphasizes the Importance of Cryptocurrency Self-Custody
Although there are similar products on the market, most cryptocurrencies are still held on trading platforms. Dorsey, promoting Bitkey, advises: “Remove your Bitcoin from exchanges”, highlighting the importance of self-custody for the security of digital assets.
However, this initiative by Block and Jack Dorsey with Bitkey is a significant step towards promoting the adoption and safe use of cryptocurrencies. Thus, offering users a reliable alternative for the custody of their digital assets.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.