Proton Launches Self-Custodial Bitcoin Wallet, Prioritizing Privacy and User Control

Proton, the Swiss company renowned for its privacy-focused services like Proton Mail and Proton VPN, has officially launched its self-custodial Bitcoin wallet to all users. After a successful early access program, the Proton Wallet is now available on iOS, Android, and web, aiming to make Bitcoin ownership and transactions more secure, private, and accessible, even for newcomers.

Built on Privacy: Proton's Core Values Applied to Bitcoin

Founded in 2014 by scientists at CERN, Proton has built a reputation for prioritizing user privacy and security through encrypted communication and storage solutions. With over 100 million user accounts, Proton is now leveraging its expertise in cryptography to empower individuals with greater control over their finances.

"Nearly 11 years after the launch of Proton Mail, now the world's largest encrypted email service, Proton is again leveraging cryptography to empower people," the company stated. "This time, to give people control of their money with Proton Wallet, the safer, easier way to hold and transact with bitcoin."

Key Features: Security, Privacy, and Simplicity

The Proton Wallet offers several key features:

• Self-Custody: Users retain complete control of their private keys, meaning no one, not even Proton, can access their Bitcoin.
• Enhanced Privacy: Transaction histories and balances are end-to-end encrypted, protecting user data from prying eyes.
• Simplified Transactions: The wallet aims to make sending Bitcoin as easy as sending an email. Users with a Proton Wallet can send Bitcoin to another Proton Wallet user using just an email address, eliminating the need to share complex Bitcoin addresses.
• Automatic Address Rotation: For increased privacy, the wallet automatically rotates addresses each time a user receives Bitcoin from a new sender.
• Open Source: Like Proton's other products, the wallet's code is open for anyone to verify, and therefore determine it is trustworthy.
• Recovery Phrase: If a user loses access, they can recover their funds using a 12-word seed phrase.

Bitcoin and Proton: A Long-Standing Relationship

Proton has a long-standing relationship with Bitcoin, accepting it for payments and donations since its early days. The company even credits Bitcoin with helping it survive when PayPal temporarily blocked its ability to receive contributions during its initial crowdfunding campaign in 2014. Proton also maintains a Bitcoin treasury, reflecting its belief in the cryptocurrency's long-term potential.

More Currencies, More Features?

While Proton Wallet currently supports only Bitcoin, the company has indicated that it may integrate other currencies, including fiat, in the future, based on user feedback.

"With Proton Wallet, our aim is to make it easier and safer for users to embrace alternative forms of money which are independent from centralized financial systems controlled by third parties who do not always work in the best interest of everyday people," said Proton founder and CEO Andy Yen.