TechFlow News — Jack Dorsey's fintech company Block (SQ) has begun shipping its new self-custody Bitcoin wallet, Bitkey, four months after reservations opened.
Reservations for Bitkey started in December last year, covering 95 countries, with beta testing commencing over the summer. In addition to wallet functionality, Bitkey can connect to Block’s payment platform Cash App and cryptocurrency exchange Coinbase (COIN), allowing users to buy and sell BTC within the app. The app and hardware device each serve as one of three keys required to secure user Bitcoin, with the third key stored on Bitkey’s servers. If users lose their phone and device, they can recover funds using the “Trusted Contacts” tool, which requires verification from people known to the user to approve recovery requests.
