Financial payment processor Block, co-founded by Jack Dorsey, has just taken the crypto world by storm with the launch of its groundbreaking self-custody Bitcoin wallet, “Bitkey.” This game-changing wallet is set to dominate the market as it offers versatile options, available both as a mobile app and hardware storage, making it accessible to users in over 95 countries.
Bitkey’s standout feature is its two-of-three multi-signature wallet, comprised of a mobile key, a hardware key, and a server key. Boasting a secure hardware device and recovery tools in the event of loss, Bitkey takes security to the next level. Users must authenticate transactions with both their fingerprint and phone, adding an extra layer of protection. Notably, Bitkey has already garnered support from major players like Coinbase and Cash App, solidifying its position as a global powerhouse.
Block emphasizes the robust security of Bitkey, employing a 2-of-3 multi-signature framework where any two keys must collaborate to move Bitcoin or authorize security-related actions. This ensures that Bitkey cannot access or transfer a customer’s Bitcoin without their active involvement.
In a recent financial report for Q3 2023, Block revealed stellar results, boasting $5.62 billion in revenue driven by remarkable sales growth from payment processors Cash App and Square. The company celebrated a $44 million profit on its Bitcoin investments, capitalizing on the recent surge in BTC prices. Moreover, Bitcoin transaction gross profit soared to $45 million, marking a 22% YoY increase, with Block selling $2.42 billion worth of BTC to customers through Cash App. Dive into the future of crypto with Bitkey and witness the financial success that Block continues to achieve in the dynamic world of digital assets!