Bitcoin
$62,622.25-1.42%
Ethereum
$3,025.71-1.41%
Binance Coin
$584.90-0.70%
Solana
$147.33-4.98%
XRP
$0.52191640-2.75%
Dogecoin
$0.15014547-3.88%
Toncoin
$5.77-1.55%
Cardano
$0.44264881-1.36%
Shiba Inu
$0.00002303-2.62%
Avalanche
$34.82-5.58%
Tron
$0.12143826+2.26%
Wrapped Bitcoin
$62,582.23-1.43%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus Prices Go Up InAll Pass Types Are Increasing
01
DAY
13
HR
57
MIN
43
SEC
Technology

Jack Dorsey's Block Begins Shipping Bitkey Bitcoin Wallets

Block unveiled Bitkey for pre-order in 95 countries last December having commenced beta testing during the summer

By Jamie Crawley
AccessTimeIconMar 13, 2024 at 3:13 p.m. UTC
Updated Mar 13, 2024 at 3:14 p.m. UTC
Jack Dorsey speaks at Consensus 2018 (CoinDesk)
Jack Dorsey speaks at Consensus 2018 (CoinDesk)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Jack Dorsey's fintech company Block (SQ) has started shipping its new self-custody bitcoin wallet Bitkey after four months of taking pre-orders.

Block unveiled Bitkey for pre-order in 95 countries last December, having commenced beta testing during the summer. In addition to its wallet function, Bitkey will connect to Block's payments platform Cash App and crypto exchange Coinbase (COIN) to allow buying and selling BTC within its app.

Bitkey consists of a hardware device, a phone app and a set of recovery tools.

The app and hardware device are two of the three keys used to secure a user's bitcoin, with the third stored on Bitkey's servers. Should customers lose their both their phone and the device, they can recover their funds using the "Trusted Contacts" tool, which relies on people known to the user to verify their recovery request.

SQ shares were up over 6% at $86.74 at the time of writing on Wednesday alongside a rally in the payments space.

Read More: Jack Dorsey's Block Inc. Begins Layoffs Under Previously Disclosed Plan to Cut Staff by 10%


Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.