I occasionally get paid in Bitcoin and usually need to spend it on bills soon after, so I’ve been looking for a simple, secure way to accept payments that’s easy to manage and simple enough to track for accounting. I tried out Bitkey today and here’s how it went:
Bitkey is a relatively new self-custody wallet from Block (Jack Dorsey’s team), launched in late 2023. It combines a mobile app with a compact hardware device and uses a 2 of 3 multisig security model.
Setup:
Honestly? Really smooth.
The app is clean and intuitive, and the device feels sturdy and well-designed. Setup took minutes, with no complex steps or confusing jargon. Perfect for newbies.
Not your typical wallet:
Bitkey doesn’t use a traditional 12 or 24 word seed phrase. Instead, it encrypts your mobile key and backs it up to your cloud (iCloud or Google Drive). Recovery works through a combination of your phone, the Bitkey device, and Bitkey’s support key. That means you still have fallback options if something goes wrong without needing to manage or write down a seed phrase.
There’s no built-in option to export a seed phrase through the app, though it is technically possible using more advanced methods. This is intentionally hidden for most users to keep things simple and reduce risk.
It also includes an emergency access feature that lets you assign a trusted contact who can help recover your bitcoin if something happens to you, using the inheritance option built into the system.
It works through a mix of your phone, the device, and their support key. That means you still have fallback options if something goes wrong.
Bitkey isn’t built for hardcore Bitcoin purists or users who want full manual control over privacy, such as coin control, Tor routing, or avoiding cloud backup.
So it’s not aimed at toxic maxis or privacy maximalists, but that is kind of the point.
Pros:
- Fast, beginner-friendly setup
- Secure enough for regular use
- Easy to track payments
- Built-in Inheritance feature with contact-based recovery
- No seed phrase stress
Considerations:
- You don’t hold all the keys yourself
- Depends on cloud backup and Bitkey support for recovery
- Not as battle-tested as some other wallets
- You’ll need an on/off-ramp to convert your bitcoin, which may introduce KYC, though peer-to-peer options like Hodl Hodl can help you avoid it.
- BitKey does not yet support Lightening so you can only send on-chain
Summary:
If you want a wallet for everyday use, whether receiving Bitcoin payments, making occasional transactions, or simply holding small balances with peace of mind, Bitkey is a great option. It’s user-friendly, secure, and designed for people who want a practical way to interact with Bitcoin without diving into technical complexity.
Just be aware of the trade-offs. It won’t suit everyone, but for many real-world use cases, it ticks a lot of boxes. I love it!
@jack @Bitkey
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