Bitkey Hopes to Address User Concerns with Advanced Coin Control Feature

Bitkey, the self-custody Bitcoin wallet developed by Block, Inc., is accelerating development of its coin control feature in response to user demand. This feature will allow users to manually select which Unspent Transaction Outputs (UTXOs) to spend and label them for tracking purposes.

The coin control feature is important because it gives users more control over their transactions and allows them to optimize transaction size, reducing network fees. Bitkey's approach to self-custody includes a 2-of-3 multisig design, where the user holds two keys and Block holds a third key, requiring any two of the three keys to authorize a transaction.

Bitkey has already taken preliminary steps toward coin control by offering a UTXO consolidation tool. However, community feedback has shown that users want more advanced features like labeling and manual selection. This mirrors features offered by wallets like Sparrow, Electrum, and Trezor Suite for years.