Officially! Square creates a hardware BTC wallet
CEO Jack Dorsey and Head of Hardware Jesse Dorogusker said that the digital payments company Square is already building a hardware wallet for Bitcoin.
It looks like Dorsey intended to say that a hardware wallet project for Bitcoin is already in development.
Dorogusker added on Twitter that Square wants to make Bitcoin storage more widespread, secure and easier to use.
Hardware wallets are considered the safest way to store crypto assets. They allow users to store their private keys and assets on the external offline devices. But most users complain that it is difficult for them to learn how to use such wallets.
You can also store assets on the exchange. But this is more risky because the users don’t have full control over their assets. At any time, they can be lost as a result of hacking or violation of the security rules.
Also, hackers can easily steal users’ digital assets through obtaining personal information such as SIM card replacements, malware, and even fake apps on Google Play.