Bitkey
Self-custody Bitcoin wallet with an app.
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About
Bitkey is a self-custody Bitcoin wallet developed by Block, Inc. (formerly Square), designed to provide users with secure and user-friendly control over their Bitcoin holdings. It combines a mobile app, a hardware device, and a set of recovery tools to facilitate easy management and protection of Bitcoin assets.
Key Features
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2-of-3 Multisignature Security
Bitkey employs a multisignature system involving three keys: one stored in the mobile app, one in the hardware device, and one on Block's server. Any two of these keys are required to authorize transactions, enhancing security and enabling recovery options without the need for seed phrases. -
Biometric Hardware Wallet
The hardware component features a fingerprint sensor and uses NFC technology to confirm transactions, eliminating the need for screens or buttons. This design simplifies the user experience while maintaining robust security. -
Inheritance Feature
Bitkey allows users to designate a beneficiary who can inherit their Bitcoin holdings. Built-in safeguards ensure that the transfer of assets is secure and authorized, facilitating generational wealth planning. -
Integrated Exchange Partnerships
Bitkey integrates with platforms like Cash App and Coinbase, enabling users to buy, sell, and transfer Bitcoin directly within the app, streamlining the process of moving assets to self-custody. -
Recovery Tools
In case of loss or damage to the phone or hardware device, Bitkey's recovery tools, including the use of "trusted contacts," provide users with methods to regain access to their funds without compromising security.
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