Bitkey initiates shipment of its inaugural hardware device units, adding more security and recovery functionalities

Bitkey, the self-custody bitcoin wallet developed by the Proto team at Block, Inc., has commenced shipping its inaugural hardware devices to customers’ doorsteps this week. This milestone marks the opportunity for individuals to securely and effortlessly own and manage their bitcoin. Following the initiation of pre-orders, the team has diligently worked on enhancing additional security and recovery features, while also refining the Bitkey app. The app is now readily available for download on the Apple App Store and Google Play Store. Individuals across 90+ countries seeking to take charge of their bitcoin can now procure Bitkey’s hardware device, which includes the Bitkey app and a set of recovery tools.

South Africa was among Block’s 10 strategic markets during its global launch in December 2023. The company eagerly anticipates customer responses. Different use cases for bitcoin have emerged in markets where Bitkey has launched. While long-term savings (“HODL”) are popular in markets like the US, UK, and Canada, in countries such as Nigeria, South Africa, Argentina, Mexico, and India, customers recognize bitcoin’s value as a global currency for the internet age, facilitating faster and cheaper remittances and online payments. The beta program launch received great interest from South African customers, with some participating in the beta testing phase.

Bitkey’s wallet was built to bring more people to self-custody with an easy-to-use and safe solution. A major focus for 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 regain access easily but securely 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 help normal people get setup quickly and confidently 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 it!

Also, having more than one system to notify me is safer, and having one key on the iCloud knowing it is 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.