Block Inc. is offering a new hardware Bitcoin wallet as crypto advocate Jack Dorsey focuses the payments company formerly known as Square more on security and self-governance for the digital-asset sector.
Called Bitkey, the wallet allows users to self-custody the cryptocurrency
Users of the wallet can connect with crypto exchanges and payment services including Block’s Cash App, allowing them to transfer the digital asset between platforms. “We have already started working with Cash App from day one and we are looking for other synergies as well,” said Block’s Thomas Templeton, who leads the Proto team which develops Bitcoin hardware in the company.
Bitcoin mining is an energy-intensive process in which miners use specialized computers to validate transactions on the Bitcoin blockchain in return for rewards in the form of the coin. Most of such operations have been set up and run by public companies or deep-pocketed private investors. While making Bitcoin mining more decentralized and available, Block aims to provide more access to easy and safe storage for retail users.
“When you look at the Bitcoin space, there are tools and products that are built for super users or a subset of people deep in the industry
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