Block, the Jack Dorsey-led payments company, has launched a Bitcoin hardware wallet it has been working on for a long time. However, you cannot make purchases using cryptocurrency. You can only purchase a $150 Bitcoin wallet with a credit or debit card, a sign that the cryptocurrency may not be as widespread as its designers had expected.
Block first showed off its wallet prototype in 2022 before launching pre-orders in December last year. The self-managed Bitcoin wallet, which Dorsey nicknamed “rockey,” allows users to store their cryptocurrencies outside of exchanges to protect their funds from a potential collapse.
Bitkey connects with mobile apps and recovery tools in case users lose their wallet or phone. The top of the device houses a fingerprint sensor, a USB-C charging port, and an NFC chip that transfers funds between apps and your wallet (and vice versa). Bitkey also integrates with Coinbase and the Block-owned Cash app to send and buy Bitcoin through the mobile app that comes with the wallet.
Block said it will add “additional payment options” that people can use to purchase devices in the “near future.”