Dec 08, 2023 10:55:00

Twitter founder Jack Dorsey's payments company Block releases hardware Bitcoin wallet Bitkey in 95 countries

On December 8, 2023,

Block , a payment service company led by Jack Dorsey, the founder of・We announced that we will release the wallet “Bitkey” in 95 countries around the world. At the time of article creation, Bitkey is accepting reservations, and the price is $ 150 (about 21,000 yen).

Bitkey: self-custody bitcoin wallet
https://bitkey.world/en-US

Self-Custody Bitcoin Wallet Bitkey, Built by Block, Inc., Launches Globally, Widening Access to True Financial Ownership | Business Wire

https://www.businesswire.com/news/home/20231207228680/en/

Block announces preorders for Bitkey bitcoin wallet - Blockworks
https://blockworks.co/news/self-custody-wallet-launches-worldwide

Block releases Bitkey hardware wallet to 95 countries… kinda | TechCrunch
https://techcrunch.com/2023/12/07/block-releases-bitkey-hardware-wallet-to-95-countries-kinda/

The hardware Bitcoin wallet 'Bitkey' announced by Block looks like this. It is a thin hexagonal device with a fingerprint sensor at the bottom of the surface for unlocking.

Users can purchase Bitcoin or transfer their Bitcoin holdings using Coinbase, a virtual currency exchange affiliated with Block, or Block's own payment tool 'Cash App.' The ability to transfer and purchase Bitcoin from other locations will be rolled out in stages.

Block argues that ``Using a self-managed hardware wallet like Bitkey is safer than storing virtual currency on an exchange.'' In fact, Bitkey says it includes a mobile app, hardware device, and a set of recovery tools in case users lose their smartphones, hardware, or both.

Bitkey allows you to protect your Bitcoins using three types of keys: hardware wallets, mobile apps, and keys stored on Bitkey's servers. In the unlikely event that you lose your Bitkey or smartphone, you will be able to recover your account using the key on the server. In addition, in order to access the Bitcoins held, it is necessary to access two of the three keys, so it is impossible for Block to manipulate the user's Bitcoin without the user's permission.

Furthermore, Bitkey also allows users to set daily spending limits through the smartphone app. This feature allows users to stay safe on the go without having to carry their Bitkey with them all the time. In other words, even if a third party accesses the user's smartphone, it is impossible to steal all of the Bitcoin held by the user.

Bitkey is scheduled to start shipping from February to March 2024, and can be reserved for $ 150 (about 21,000 yen). Although Bitkey can be reserved in 95 countries including the United States and the United Kingdom, it did not support reservations from Japan at the time of article creation.