Totally different sort of device. Think of it more in the category of Trezor/ledger but designed to work with ios/android out of the box.

The main feature is wallet recovery…it’s a multisig wallet where your bitkey has a key, the mobile app has a key, and their server has a key. Need ⅔ to spend. They store a copy of the mobile key encrypted to your device OS cloud account. Additionally, you can store encrypted copies of both bitkey key and mobile key with a trusted contact person…this lets you lose everything (bitkey and phone and cloud backup) and still recover (albeit with a security delay of 1 week, during which time you can cancel if you get the email/sms/push notifications of the recovery countdown).

It’s really well thought out.