Bitkey Starts Shipping First Units of Its Hardware Device, Adds Security and Recovery Features

– Among other features, Bitkey’s customers are now able to set up trusted contacts to help them easily recover access to their wallets in certain scenarios

– Through Bitkey’s integrations with Cash App and Coinbase, customers can easily transfer, and now also buy their bitcoin from partners

– Bitkey’s hardware device begins shipping to customers, and the Bitkey app is already available for downloads across app stores

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.–(BUSINESS WIRE)–Bitkey, the self-custody bitcoin wallet built by the Proto team at Block, Inc. (NYSE: SQ), has started shipping its first hardware devices to customers’ homes this week and people can now truly own and manage their bitcoin easily and safely. After opening pre-orders, the team has continued working on finishing additional security and recovery features while putting the final touches to the new Bitkey app, which is now available for download in the Apple App Store and Google Play Store. People in 90+ countries who want to take control of their bitcoin can now order Bitkey’s hardware device for delivery, which comes with the Bitkey app and a set of recovery tools.

Bitkey’s wallet was built to bring more people to self-custody with an easy-to-use and safe solution. A major focus for the team building Bitkey has always been providing accessible recovery experiences that prioritize both simple and secure paths for customers to control and recover their money if something goes wrong. When moving from custodial to self-custody solutions, customers have historically had to confront complexity: having to remember and store long passwords, and struggling through difficult and unfamiliar setup processes that often leave customers prone to accidental loss of their bitcoin. Bitkey’s recovery design incorporates tools to easily but securely regain access to one’s account in every situation possible.

What’s new: trusted contacts and more security & independence for customers

The beta-tested version came with two features as part of Bitkey’s recovery design: Cloud Backup, for when someone loses access to the mobile key, for example if their phone is lost or stolen – or they get an upgrade; and Delay and Notify, which allows customers to regain access to their funds through a new set of keys if they only have access to one of their two keys (either mobile or hardware).

Now, the Bitkey wallet brings new recovery features that top off the recovery design behind the wallet:

• Trusted Contacts, an optional feature that lets customers set up people they trust who can help them verify recovery requests and recover their wallets when both the mobile key and the hardware key have been lost; and an
• Emergency Access Kit, which gets automatically stored in the customer’s cloud account and can help them recover if the app is no longer available on the app stores or if they no longer want to use the third key stored by Block.

According to Jacob B., one of Bitkey’s beta customers from Mexico: “I think Bitkey is dead simple with healthy security. It allows me to quickly and confidently help normal people get set up with bitcoin.” Another beta tester, Australian photographer Georges F. says that “I was amazed at how easy it was to set everything up with the fingerprint, and that was pretty much it! Also, having more than one system to notify me is safer, and having one key on the iCloud knowing it’s going to be restored, is very good to know.”

In addition, to help connect the world of today’s fiat money with bitcoin’s financial system, through Bitkey’s integrations with Cash App and Coinbase, customers can seamlessly transfer, and now also buy, their bitcoin from partners. These two partnerships are the first of more to come globally as the team continues exploring other strategic integrations that will arrive at Bitkey in the next few months.

About Bitkey

Bitkey is a self-custody bitcoin wallet with three parts — a mobile app to make transactions easily on the phone, a hardware device to protect savings securely offline, and a set of recovery tools in case customers lose their phone, hardware, or both. As an innovative multi-signature self-custody wallet, Bitkey provides innovative recovery tools that give customers multiple ways to recover their money, so they can take their bitcoin off exchanges and truly own and control it themselves, without the anxiety of guarding a long complex seed phrase. Bitkey provides the convenience of a mobile app, the security of hardware, and peace of mind that in case they lose something, customers can still recover their money. Bitkey is built by the Proto Team at Block, Inc. Proto’s mission is to help accelerate the world’s transition to a more open economy by making products that increase access and independence for everyone. Bitkey is the first of these. Find out more at bitkey.world.

About Block, Inc.

Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.

Contacts

press@block.xyz