Technology Square wants to offer hardware wallets for bitcoin

06:53  27 july  2021
06:53  27 july  2021 Source:   finanzen.net

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The mobile payment service Square is targeting Krypto investors as customers and develops a hardware wallet to provide them with a possibility of "supported self-help".

MIKE CLARKE/AFP/Getty Images © Provil by Finanzen.net Mike Clarke / AFP / Getty Images

• Square wants to make bitcoin storage mass suitable

• Square developed own hardware wallet

• Approach is the assisted self-preservation

If you want to acquire crypto feeds, which requires a so-called wallet - This is comparable to an electronic wallet. However, there are different possibilities of safekeeping. On the one hand, it is possible to create a wallet quite easily with a crypt bonus, but one can also be victims of hacker attacks or fraud. Safer is the use of a hardware wallet because users store their private keys as well as their crypto assets themselves. However, this method is still considered a little user-friendly, which is why cyberdours are mainly stored blockchain secured in software wallets.

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"Supported Self-Working"

This is just here Jack Dorsey, CEO of Twitter and the Financial Services and Mobile Payment Company Square , to improve the popularity of crypto currencies: "Casting does not have to be anything or nothing. We Casting for users can simplify by enabling 'supported self-detention'. So that this is also accepted, we need a great product design. It needs minimal installation time, the ability to use existing devices and end-to-end capability " , "Cointelegraph" cites the well-known Bitcoin fan.

Hardware Wallet of Square

Recently has Dorsey confirmed on Twitter that Square, which already has terminals and reader for card payment on offer, now also wants to bring out a physical device that stores bitcoins: "We make it. #Bitcoin" was be Retweet on the announcement of the Senior Hardware Developer Jesse Dorogusker.

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Dorogusker explained that you want to make the custody of Bitcoin suitable for the mass market. - bitcoin action with plus 500 - that's how it works. 72% of private investor accounts lose money if you are using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - Therefore, the hardwallet of Square, which focuses on the world's most popular cryptostation bitcoin, should be designed primarily for mobile use as well as the multi-digital procedure, and enable "supported self-detention".

The Questions and Principles We Surfaced in Our Original Thread Resonated. WE HAVE A LOT OF QUESSIONS AND ISSUES TO RECONCILE AND WE'LL START WITH THIS Product Direction: Bitcoin First, Global Distribution, Multisig to Achieve "Assisted Self Custody," and Prioritizing Mobile Use.

- Jesse Dorogusker (@Jessedorogusker) July 8, 2021

Square wants to achieve with his hardware wallet that users can manage their bitcoin themselves, but they are technically supported by the payment service provider.

Crypto Exchanges: Working, Difference between Exchanges and Wallets and Some Popular Exchanges.
Cryptocurrencies are virtual currencies that allow their users to make purchases and pay digitally without involving any intermediaries. In order to buy and sell cryptocurrencies, a bitcoin exchange is required. In this article, we will read what bitcoin exchanges are, how they work, the differences between exchanges and wallets, and some popular exchanges.

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