Privacy-focused email firm Proton has launched Proton Wallet, a self-custody Bitcoin-only wallet. This new offering allows users to hold digital assets independently, outside the control of centralized institutions. According to the announcement, Proton Wallet is designed to be accessible to newcomers, featuring Bitcoin transactions via email with security provided by Proton Sentinel.
Proton, founded in 2014 by CERN scientists, has a long-standing commitment to privacy and security, as demonstrated by its encrypted email service, Proton Mail. The firm has over 100 million users and has integrated end-to-end encryption into its email communications. The new wallet aims to enhance users’ financial freedom.
Proton CEO Andy Yen said:
“By enabling us and the entire Proton community to more easily adopt means of payment which are not controlled by centralized institutions, we better insulate Proton from the risks posed by traditional finance.”
The Proton Wallet includes several key features to ensure ease of use and security. One of the standout features is “Bitcoin via Email,” which leverages Proton’s existing infrastructure. This feature allows users to send and receive Bitcoin using only email addresses as long as both parties have a Proton Wallet.
Additionally, the wallet automatically rotates Bitcoin addresses for each transaction, enhancing privacy by preventing the easy linkage of transactions. Proton Wallet is self-custodial, meaning users control their encryption keys, and the wallet is end-to-end encrypted. This setup ensures that no one, not even Proton, can access users’ digital assets.
Security features include robust recovery methods to ensure users can access their Bitcoins even if Proton Wallet is offline, built-in two-factor authentication, and Proton Sentinel’s advanced machine learning and AI tools to protect against malicious login attempts.
Proton has a history of supporting Bitcoin. The company previously accepted payments and donations in Bitcoin and emphasized the importance of financial freedom after PayPal temporarily froze its initial crowdfunding funds. Proton also holds Bitcoin as part of its financial reserves.
The Proton Wallet is currently in early access and available on the web, Android, and iOS for users on the Proton Visionary plan. This plan is being made available again for a limited time. Users with early access can invite ten friends to join, and there is a waiting list for others. While Proton Wallet only supported Bitcoin at launch, based on user feedback, there is potential for future support of other currencies, including fiat.
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