Bitkey Fast-Tracks Coin Control Amid User Demand
Bitkey, the self-custody Bitcoin wallet developed by Block, Inc., is accelerating the development of its coin control feature after receiving persistent user feedback. This move is significant for a wallet that launched publicly in December 2023 and started shipping hardware in March 2024.
Coin control allows users to label individual UTXOs (Unspent Transaction Outputs) and manually select which coins to include in a transaction, rather than relying on automatic selection. This feature is crucial for privacy-conscious users who want to avoid accidentally merging coins from different sources, creating a trail that links their transaction history together.
Bitkey's approach to self-custody involves a 2-of-3 multisig design, where the user holds two keys and Block holds a third. This departure from traditional seed phrase-based wallets is aimed at making self-custody more accessible to mainstream users.