The Global Launch of Block’s Bitkey Wallet
Block, formerly known as Square, has announced the global launch of its self-custody Bitcoin (BTC) wallet, Bitkey. The wallet is now available for pre-order in over 95 countries, making it easier for individuals to own and manage their Bitcoin. Bitkey includes a mobile app, a hardware device, and a set of recovery tools. The crypto wallet will be shipped out early next year.
The lead of Block’s Proto Team, Thomas Templeton, emphasized the importance of ownership and self-custody. He stated that it brings peace of mind, reduces dependence on any one entity, and puts individuals in control of their own Bitcoin. The release of Bitkey comes after several centralized crypto firms faced issues with customer asset withdrawals.
Promoting Self-Custody
Jack Dorsey, the CEO of Block, has encouraged users to “move your Bitcoin off the exchanges” following the official launch of Bitkey. In June, leading US-based exchange Coinbase announced its intention to integrate Bitkey to promote self-custody usage. Dorsey also emphasized the importance of buying Bitcoin from an exchange and then transferring it to a hardware key that users control.
Hot Take: Block’s Bitkey Wallet Offers Increased Control and Security
Block’s global launch of the Bitkey wallet provides individuals worldwide with a convenient and secure way to own and manage their Bitcoin. With its mobile app, hardware device, and recovery tools, Bitkey promotes ownership and self-custody. This move comes after recent incidents involving centralized crypto firms mishandling customer funds. By encouraging users to take control of their assets through self-custody, Block aims to enhance security and reduce reliance on third parties.
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