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Block gears to launch first Bitcoin hardware wallet

Jack Dorsey's company, Block, is reportedly preparing for the launch of its Bitcoin hardware wallet, BitKey.

BitKey is a self-custody Bitcoin wallet with multi-signature functionality. It will consist of a mobile app, hardware device, and a set of recovery tools.

Its primary objective is to enhance security and empower users with greater control over their Bitcoin holdings by eliminating the need for intermediaries.

According to Bezinga, BitKey will offer features such as adding funds, sending and receiving Bitcoin, as well as facilitating secure transfers. By enabling users to control their private keys, the hardware wallet mitigates the risk of asset loss.

In addition, users can transfer their Bitcoin to BitKey from trusted exchange partners like Coinbase and Cash App without relying on the vulnerable method of copy and paste.

The platform is partnering with third-party partners to enable users in buying Bitcoin directly through the app.