Proton Mail Innovators Launch Self-Custodial Bitcoin Wallet

Proton, the privacy and Security Company has launched its own custodial Bitcoin wallet, known as Proton Wallet. The company targets to bring simplicity and ease into users’ experience with the digital asset.

As per report, with Proton Wallet, users on the platform can store, buy, and as well transfer Bitcoin. Other notable features of the wallet include the ability to send Bitcoin through email, and embedded security facilitated by the existing Proton infrastructure.

Seamless Bitcoin Transactions with Enhanced Security

Notably, Proton Wallet’s integrated on-ramps will allow for seamless purchase of Bitcoin in over 150 countries. According to the company, efforts were ongoing to make the wallet user-friendly for new adapters so it can serve as a means of payment beyond the regulation of centralized institutions.

Proton founder and CEO Andy Yen said this will serve to protect Proton Wallet from risks inherent in traditional financial institutions. Additionally, Yen explained that Bitcoin via email functionality enhances and elevates it to the same level as PayPal. However, a notable point of difference lies in its retention of decentralization and the non-custodial nature of Bitcoin.

Proton Wallet Pushes Global Accessibility

The transaction process has been simplified such that when sending Bitcoin, as long as both sender and receiver own a Proton Wallet, only the receiver’s email address is required for them to get the Bitcoin. Interestingly, it must not be a Proton Mail address. This feature helps eliminate the errors involved in address verification.

Following this launch, Bitcoin remains the only supported digital currency. However, depending on feedback from users and their adoption, Proton may integrate other currencies, including fiat.

Proton’s Advanced Protection

Given the proliferation of online scams and hacking of digital wallets by malicious actors, Proton empowers users with control over their private keys. The “robust recovery method” guarantees privacy as no one, not even Proton, can have access to the user’s digital assets.

Additionally, thewallet comes with a two-factor authentication process as well as access to Proton Sentinel that blocks malicious actors from gaining access using Artificial Intelligence, machine learning and human analysis. Proton Wallet in Web, Android and iOS versions are currently accessible to users on its Proton Visionary plan. The Visionary plan is however for early adopters, according to the company’s website.