News - Jack Dorsey's Bitcoin wallet Bitkey has started delivering

By Ted Maas

Jack Dorsey's Bitcoin wallet Bitkey has started delivering

Bitcoin (BTC)
Wallets and Whales

The company behind the wallet has been accepting pre-orders for Dorsey's Bitcoin hardware wallet Bitkey since December. The devices are shipping as of yesterday.

Also, the Bitkey app is already in the App Store and Google Play Store - including in the Netherlands, Germany and the rest of Europe. In addition to security features such as the recovery function, Bitkey also advertises exchange integration and the Cash app, allowing users to trade BTC through Bitkey. There will also be a MultiSig feature to further enhance security. MultiSig eliminates the so-called single point of failure, as multiple keys are needed to transmit BTC.

With a "2 out of 3 secret sharing," even a key can be lost without the BTC disappearing forever into the depths of the blockchain. Two of the three keys are stored on the app and device. The third is stored on a Bitkey server. If customers lose both their smartphone and wallet, they can restore their balance using the Trusted Contacts tool.

This makes the Bitkey wallet the first hardware wallet to implement native multi-sig storage of BTC. In addition to the Bitkey wallet, other big names include Trezor, the Ledger Nano X and the Bitbox. Hardware wallets are considered the most secure way to store crypto. After all, the devices are not connected to the Internet and are therefore hack-proof. Moreover, the private keys are stored on a so-called secure element chip, which is particularly secure.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out