Jack Dorsey confirms Square is building a hard bitcoin wallet

Square Chief Executive Jack Dorsey today confirmed via Twitter (who is also CEO) that the payment company plans to build a hard bitcoin wallet.

Square chief executive Jesse Dorogusker tweeted earlier today that the service would “make bitcoin storage more widespread.” “We’re doing this,”Dorsey replied. Last month, Dorsey said the company was considering “creating a bitcoin wallet” that is ” fully publicly available, from software to hardware design.”& quot;

We can do this # Bitcoin https://t.co/ıwbkuboxgv

– Jack (@jack) July 8, 2021

Bitcoin hardware wallets, also known as cold wallets, work only as a flash drive for cryptocurrencies. They provide security by allowing people to keep their private keys offline. Ledger and Trezor are two leading hardware wallet makers, so Square will have some competition.

The company will not necessarily go to the company. Although Square is known for its payment processing software for small businesses, it has also released its own terminals and chip readers for point-of-sale payments. Moreover, Venmo’s person-to-person rival, the Cash app, already trades bitcoin.

Best Bitcoin wallets: hardware, software and mobile
Dorsey and, accordingly, Square have announced their commitment to bitcoin several times. For example, the CEO showed up at the bitcoin 2021 conference in Miami and bought more than 8,000 BTC ($262 million) for the company’s balance sheet.

4 winstoverview on February. in its quarterly 2020 review, the company said it “believes that cryptocurrency is a tool of economic empowerment, giving individuals the opportunity to participate in the global monetary system and secure their own financial future.”;

The company hopes its customers will soon secure that future by buying Square’s hardware wallet.

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