By: Eliza Bennet
The Bitcoin wallet introduced by Block, co-founded by Jack Dorsey, is now available in more than 95 countries. The self-custody wallet known as Bitkey is composed of a mobile key, a hardware key, and a server key. Users can access it either through a mobile app or hardware storage. This wallet, which includes an app, a hardware device, and recovery tools, fosters true financial ownership.
For security concerns, Bitkey employs three keys to safeguard Bitcoin. To perform security-related tasks or transfer Bitcoin, two keys must work together. Bitkey only has access to one key in this 2-of-3 multi-signature wallet, implying that Bitkey is unable to access or move a customer's bitcoin without their permission.
Remarkably, users who misplace their Bitkey wallet do not need to input a seed phrase to recover their funds. The initial global partners for Bitkey include trusted third-party crypto companies such as Coinbase and Cash App.
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