Proton has partnered with third-party on-ramp companies so that users can easily buy Bitcoins using credit cards or bank transfers globally.
Proton, a privacy-focused firm based in Switzerland, has announced the launch of its open-source self-custodial wallet, called the Proton Wallet. The wallet is designed to make it easier and more secure for users to buy, store, and transfer BTC, integrating features like Bitcoin transactions via email.
As per the announcement, the newly launched Proton Wallet is accessible for web, Android, and iOS users. It is currently in early access for Proton Visionary plan users, who can invite up to ten other individuals to access the new tool. Moreover, the company has also created a waitlist open to anyone interested. Interestingly, Proton can come up with a paid version, Proton Wallet Plus, in the near future.
According to the company’s website, the main objective of this wallet rollout is to encourage the usage of Bitcoin as a form of payment outside of centralized institutions’ control. The firm has jumped in the self-custodial sector as the demand for such solutions has risen. Recently, Republican candidate Donald Trump advocated for self-custody of Bitcoin, adding that if he became the new President of the United States, he would ensure that every crypto holder has the right to self-custody their digital assets.
Notably, Proton Wallet will first only support Bitcoin, but the company has indicated that it may integrate other cryptocurrencies and fiat currencies in the future based on user feedback.
Unique Features
Proton has introduced several unique features in its wallet aimed at enhancing user security and convenience. One of the standout features is the ability to send Bitcoin via email. Traditional Bitcoin transactions require copying and pasting long, complex addresses, which can lead to mistakes and loss of funds.
Proton Wallet’s Bitcoin via email feature simplifies this process by allowing users to verify an email address instead, significantly reducing the chance of errors. Each email address used in transactions is signed with PGP, the announcement states. Additionally, the wallet automatically generates a pool of Bitcoin addresses for users, enhancing privacy by using a different address for each transaction.
Proton has partnered with third-party on-ramp companies so that users can easily buy Bitcoins using credit cards or bank transfers globally.
Proton’s Relation with Bitcoin
Proton is well-known for its privacy-focused services, such as Proton VPN and Proton Mail. With more than 100 million user accounts, the company celebrated its 10th anniversary this June.
Proton has also been a long-time supporter of Bitcoin, accepting payments and donations in Bitcoin since its early days. The company has a policy of holding Bitcoin under its financial reserves. Since the company started investing in the largest cryptocurrency, its value has increased by more than 13,000%.
Last year, Andy Yen, the CEO of Proton, stated the importance of holding cryptocurrencies to support portfolio diversification. As the company continues to embrace crypto, Proton Wallet emerges as a promising tool for BTC users.
Bitcoin is trading around $66,200 at the time of writing. The cryptocurrency is just 10% down from its all-time high of $73,750, achieved in March this year.
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