Privacy and security email firm Proton has unveiled the Proton Wallet, a self-custody Bitcoin-only wallet allowing users to hold digital assets.
In an announcement, the Switzerland-based email firm said with the launch of Proton Wallet, Proton is making it easier for newcomers to start using Bitcoin and adopt it as a means of payment outside the control of centralized institutions.
The company has embedded end-to-end encryption into Proton Mail to secure email communications. The Bitcoin self-custody wallet is accessible to newcomers and has features like Bitcoin via Email with security provided through Proton Sentinel.
Proton was created in 2014 by a team of scientists who met at the European Center for Nuclear Research (CERN). They created the encrypted email service with over 100 million users.
Proton Shows Support for Bitcoin Over Years
Over time, Proton accepted payments and donations in Bitcoin and stressed the importance of financial freedom when its initial crowdfunding funds were temporarily frozen by PayPal, nearly killing the company.
Proton has also previously disclosed a Bitcoin treasury policy, confirming that it holds Bitcoin as part of its financial reserves. With the launch of Proton Wallet, the company is taking a significant step to protect users’ financial freedom.
The firm said the Proton Wallet is currently in early access and available on the web, Android, and iOS to 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.
Proton Wallet will only support Bitcoin at launch. In future it may support other currencies, including fiat based on user feedback.
Key Features of the Proton Wallet
Some of the key features of the new wallet include: “Bitcoin via Email.” This will leverage Proton’s wider infrastructure and email user base. Proton Wallet makes it easier to send and receive Bitcoin. As long as both the sender and recipient have a Proton Wallet, only the recipient’s email address is needed.
The Proton Wallet automatically rotates Bitcoin addresses for each transaction, preventing easy linkage of transactions.
It is self-custodial and end-to-end encrypted. This means that users control their encryption keys, ensuring no one, not even Proton, can access their digital assets. Robust recovery methods ensure access to Bitcoins even if Proton Wallet is offline.
The wallet has built-in two-factor authentication and Proton Sentinel’s advanced machine learning and AI tools will protect against malicious login attempts.
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