August 1, 2021
Markets

Square plans to make hardware wallet for bitcoin

Representations of the Bitcoin cryptocurrency are seen in this illustration picture taken June 7, 2021. REUTERS/Edgar Su/Illustration/File Photo

July 9 (Reuters) – Square Inc (SQ.N) will make a hardware wallet for bitcoin, the payments company confirmed in a tweet on Thursday shortly before U.S. Senator Elizabeth Warren flagged growing risks posed to consumers and financial markets by the cryptocurrency market.

Bitcoin wallets can be stored offline or online at cryptocurrency exchanges, venues where bitcoin can be bought and sold for traditional currencies or other virtual coins.

With a non-custodial wallet, you have sole control of your private keys, which in turn control your cryptocurrency and prove the funds are yours. With a custodial wallet, another party controls your private keys. Most custodial wallets are web-based exchange wallets.

“We have decided to build a hardware wallet…

Read full article here: www.reuters.com