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Jack Dorsey Says Square 'Considering' BTC Hardware Wallet

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Twitter and Square CEO Jack Dorsey says Square is “considering” developing a hardware wallet for BTC.

A BTC hardware wallet, or “cold wallet,” is essentially a flash drive where you can store your cryptocurrency offline; online “hot wallets,” or just “wallets” (think Metamask, Trust Wallet, and Rainbow), are generally considered less secure.

In a tweet thread this morning, Dorsey posed broad questions about the engineering direction for the hardware.

“Are small displays necessary?” he asked. “Expecting mainstream customers to validate details on a small display is unlikely to increase security and likely to reduce device reliability, increase device cost, and decrease accessibility. Is the product better if a display isn’t required?”

Ledger and Trezor, two popular cold wallet manufacturers, both include small displays on their products.

Dorsey said that Jesse Dorogusker, a longtime Square executive, would be helping mull over these sorts of decisions.

As for when he might decide whether to actually start developing a wallet, Dorsey was vague. “We’ll update this thread with that information when we’re ready,” he wrote. “Thanks!”

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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