Square chief Dorsey mulls pocket wallet for bitcoin
Hardware wallets can be used to store the digital currency offline, synching with applications for transactions on the internet as needed.
Another option for cryptocurrency owners is to use "virtual" wallets, essentially trusting third parties to keep money safe and using passwords to access funds.
"Square is considering making a hardware wallet for bitcoin," Dorsey said in a string of tweets asking for feedback on the idea.
"The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal 'custody' actually means 'IOU,' " tweeted Dorsey, who is also the chief of Twitter.
"Deciding to take custody, and security, of your bitcoin is complicated."
"We can imagine apps that work without Square and maybe also without permission from Apple and Google," he continued, referring to the makers of the world's big two smartphone operating systems.