Square is making a hardware wallet and service for bitcoin

Square, which provides the Cash person to person digital payments app, as well as the Square card reader , point-of-sale and credit card reader , is now looking at bitcoin hardware wallets for its next venture.

Jesse Dorogusker (square’s hardware lead), announced the news via Twitter on July 8, 2021. According to Dorogusker, the company had ‘decided’ to create a hardware wallet to facilitate bitcoin custody. He added, “We’ll continue asking and answering questions in the open.”

The community’s response has been amazing to our thread on this project – encouraging and generous, collaborative, inspiring.

To make Bitcoin custody more accessible, we have created a hardware wallet. We will continue to answer and ask questions openly. The community’s response has been amazing to our thread on this project – inspiring, encouraging, generous, collaborative, and inspiring. http://t.co/CHf9hAmKnn

– Jesse Dorogusker, @JesseDoroguskerJuly 8, 2021

Twitter CEO Jack Dorsey hinted last month that Square was looking at making one. The company’s Cash app allowed users to purchase and sell bitcoins. Dorsey is also a passionate bitcoin enthusiast, as his Twitter bio states: “#bitcoin”

Square is therefore not surprising to invest in a hardware wallet for cryptocurrency.

Although Bitcoin’s value has increased in recent years, many are still unsure of its exact nature. Pocket-lint has a detailed guide that explains everything.

Bitcoin is a virtual currency which allows people to transfer money quickly around the globe without any central supervision. This has allowed for a wide range of applications. It’s easy to start using Bitcoin and anyone can have it.