
Block, Jack Dorsey's global tech corporation, has launched BitKey, its upcoming Bitcoin hardware wallet, following a beta tester's image of the new device.
With a tweet from a beta tester, the crypto world may have seen its first glimpse of Block's BitKey, the new hardware wallet that the firm first announced in 2022.
The hardware wallet, which is shaped like a hexagon, features a fingerprint sensor, providing a additional layer of biometric security to the device.
Another user, @mcshane_writes, also shared the same image of BitKey and provided some descriptions of the device. BitKey has a stone exterior, offers the best tactile feel for a wallet, is fun to use, has an optional fingerprint scanner, and is compact in size.
Dorsey's co-founder, Block, has been discussing the hardware wallet, and its entry into the market coincides with investors'heightened awareness of the importance of self-custody.
Last November, when FTX filed for bankruptcy and its top officials resigned, revealing questions about its co-founder, Sam Bankman-Fried, the crypto community witnessed a mass exodus from centralized crypto exchange platforms to decentralized alternatives and self-custody crypto wallets. The catastrophic collapse of FTX necessitated centralized crypto exchange platforms to audit their operations and provide proof of reliability to regain investors' trust.
BitKey customers can buy Bitcoin on a cryptocurrency exchange and transfer the crypto assets to their hardware wallet. BitKey users can also set transaction or transfer limits for BitKey, and any amount exceeding the limit will require user approval using the device.
The new features that BitKey announced in July are still undetermined, as is the release date of the product.