The fintech crypto from Jack Dorsey, Blockproceeded to the official launch of its portfolio hardware multi-signature Bitkey.
In beta since this summer, the physical Bitcoin wallet designed by Blockformerly Square, is now available for pre-order worldwide at a price of 145 euros. Shipments are scheduled for the end of February 2024.
More precisely imagined by Block’s Proto team, Bitkey comes in the form of a hardware device, coupled with a mobile application and a set of recovery tools, for keeping bitcoins safe.
The decentralized payment network Bitcoin has the potential to create a more inclusive financial system for all. In the future, we believe customers will demand ownership and self-preservation, as this brings peace of mind, reduces dependence on a single entity and gives individuals control over their bitcoins,” commented Thomas Templeton, Proto’s unit director.
With BitkeyBlock’s mission is to make self-preservation “more accessible” through “indulgent retrieval experiences”. The wallet exploits a multi-signature design that doesn’t require the user to remember their long start phrase.
These have 2 keys – one in the application and one in the device – to perform operations. A third key is held on a server belonging to Bitkey. The company founded by Bitcoin maximalist and Twitter co-founder Jack Dorsey is reassuring that it cannot access or move a customer’s assets without all the keys.
This gives customers real control over their money, while giving them peace of mind that they can get their money back if they lose something,” reads a statement.
An optional recovery feature offered by French wallet manufacturer Ledger had been the subject of controversy earlier this year.
Following the opening of Bitkey’s beta, Block had partnered with Coinbase to enable its users to buy Bitcoin on the crypto exchange directly from its product.
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