Proton Enters Crypto Space with a Self-Custodial Bitcoin Wallet Focused on Pr...

[ABCbits]

Proton Enters Crypto Space with a Self-Custodial Bitcoin Wallet Focused on Privacy

Proton, a Swiss privacy technology firm best known for its encrypted email and VPN services, has launched Proton Wallet, a self-custodial Bitcoin wallet designed to protect user privacy and security. The wallet is available for both Android and iOS users, allowing users to buy, store, and send Bitcoin without interference from centralized platforms... Read more here.


After few months, it's finally out of beta/testing version. While it's open source and self custodial, it's also categorized as web wallet where I hesitant to recommend it. Your opinion is greatly appreciated.

[Faisal2202]

After few months, it's finally out of beta/testing version. While it's open source and self custodial, it's also categorized as web wallet where I hesitant to recommend it. Your opinion is greatly appreciated.

I have proton email once but I don't really require them that much therefore I rarely use proton emails overall they provide pretty good services because I have tested them and speaking of wallet how is that going to help us in anoynmity do they have coinjoin service in it?

I mean the wallet is already noncustodial, and will it give us anoynmity as well. I might not give it a try yet as I would prefer to wait for another year to see how it grows into this field but I am seeing a brighter future for crypto with such tools still incoming in the market.

[electronicash]

when i first learn about BTC, one explanation they told me is that BTC is like a money being sent to someone just like an email. funny it was easy to understand that way but when i dig in, its not same technically. but the idea is there.

i do agree its not safe when a wallet is live online. we've all heard of wallet hacks, an exchange with employees always hardening the wallet from hacks are still compromised. we can't just trust online wallet. this is an on going development though, so proton developing a hardware wallet like ledger may not be hard to imagine.

[yhiaali3]

Yes, I heard about Proton Wallet more than a month ago. Proton Email is a well-known and well-established service in the field of maintaining privacy, and it has a large user base.

In addition to the wallet being self-guarded, what I also do not like is the link between the email and the wallet. This point may be a privacy loophole. Some people like to use email to send cryptocurrencies, but for me, I do not like it.

In any case, Proton is a large company and I think its entry into this field will have positive results in the long run.

[Zed0X]

I'm using the basic Proton and what what I like about them is even though it's free, they are pretty quick to give warnings on potential phishing emails. Now that they're planning to add crypto, I'm expecting them to add security features too. Perhaps it's better to use a proton email add when using their wallet.

[bitterguy28]

when i first learn about BTC, one explanation they told me is that BTC is like a money being sent to someone just like an email. funny it was easy to understand that way but when i dig in, its not same technically. but the idea is there.

it is definitely a dumbed down explanation of bitcoin but if we think about it it can be explained quite similarly both the emails and bitcoins have to go through servers in a network to be sent and received the difference is that emails are operated by companies making it centralized and bitcoin being run by miners all over the world and not having one single authority making it decentralized

i do agree its not safe when a wallet is live online. we've all heard of wallet hacks, an exchange with employees always hardening the wallet from hacks are still compromised. we can't just trust online wallet. this is an on going development though, so proton developing a hardware wallet like ledger may not be hard to imagine.

people do not trust centralized exchanges simply because it is way too similar to giving your money to a bank the exchange still has access to your coins which at any point can be used whatever way they want to if they could just give a believable excuse

[joniboini]

Looks like the wallet is open source, although I can't verify to what extent the code is made public. That being said, I'm also not comfortable recommending a wallet if you can't manage your keys and rely on e-mail or something similar to log in. I won't use this and will stick with Electrum. If I want to buy Bitcoin I can use my browser or Bisq to look for offers. I guess they're targeting mobile users to begin with so I'm not the target for this product. CMIIW.

[libert19]

Lol, "achieve financial freedom" (Referring to their Google play banner image) — I am find that cliché, and they are better off avoiding such lines. Anyway, from the looks of it, you can send to other people via their proton email address, that sounds good.

[TokenTactician24]

Proton Enters Crypto Space with a Self-Custodial Bitcoin Wallet Focused on Privacy

Proton, a Swiss privacy technology firm best known for its encrypted email and VPN services, has launched Proton Wallet, a self-custodial Bitcoin wallet designed to protect user privacy and security. The wallet is available for both Android and iOS users, allowing users to buy, store, and send Bitcoin without interference from centralized platforms... Read more here.


After few months, it's finally out of beta/testing version. While it's open source and self custodial, it's also categorized as web wallet where I hesitant to recommend it. Your opinion is greatly appreciated.

Interesting move from Proton! Their privacy-first approach aligns well with Bitcoin’s ethos, but a web-based self-custodial wallet raises security concerns. Open-source is a plus, but without a solid backup and security model, users should be cautious. Promising, but worth a deeper look.

[TomPluz]

Two years ago, I opened my Proton email account and my impression was that it really live up to its promises especially on privacy though nobody is really stalking me so there is no way for me to prove whether that can claim has 100% strength on it but definitely it is something worth exploring if one is not agreeable with other free services like Gmail. Unfortunately, I am still using largely Gmail services and I don't know why...maybe that can be because millions are using it. Now that Proton is offering a wallet services this can be a good addition to what many users are already enjoying, According to the article above: "The wallet allows users to send Bitcoin using just an email address, simplifying transactions and reducing errors." That idea can be what many people are looking for...especially those who are not really tech-oriented.

[ABCbits]

Looks like the wallet is open source, although I can't verify to what extent the code is made public. That being said, I'm also not comfortable recommending a wallet if you can't manage your keys and rely on e-mail or something similar to log in. I won't use this and will stick with Electrum. If I want to buy Bitcoin I can use my browser or Bisq to look for offers. I guess they're targeting mobile users to begin with so I'm not the target for this product. CMIIW.

Yeah, i don't know what extend of the code is being open-source and can be verified. But looking at some review, you can manage your key since it have feature to backup recovery words.

[Stompix]

The wallet allows users to send Bitcoin using just an email address, simplifying transactions and reducing errors.

Huh?
Another layer on top of normal transactions, no thanks!
This will just invite more hacking and an unwanted headache to it, for the love of god, stick with the basics.
Self-custody wallet, not tied to anything else than the blockchain!

[libert19]

.. But looking at some review, you can manage your key since it have feature to backup recovery words.

Yes, it requires creating/logging in into your proton mail account to create wallet but then you are given choice of backing up recovery phrase. So it's not dependent on proton services which is good.

The wallet allows users to send Bitcoin using just an email address, simplifying transactions and reducing errors.

Huh?
Another layer on top of normal transactions, no thanks!
This will just invite more hacking and an unwanted headache to it, for the love of god, stick with the basics.
Self-custody wallet, not tied to anything else than the blockchain!

It's optional feature.

[Baofeng]

Looks like the wallet is open source, although I can't verify to what extent the code is made public. That being said, I'm also not comfortable recommending a wallet if you can't manage your keys and rely on e-mail or something similar to log in. I won't use this and will stick with Electrum. If I want to buy Bitcoin I can use my browser or Bisq to look for offers. I guess they're targeting mobile users to begin with so I'm not the target for this product. CMIIW.

That's also my first impression, it's a open-source when I got a email from them.

They might be too late though in the market as what you have said, Electrum is the brand that most of us are familiar and have been using for years.

But let's see how Proton will market their market, maybe they can get a piece of that pie with a lot of crypto and Bitcoin users growing everyday.

[Bobcrypto]

Looks like the wallet is open source, although I can't verify to what extent the code is made public. That being said, I'm also not comfortable recommending a wallet if you can't manage your keys and rely on e-mail or something similar to log in. I won't use this and will stick with Electrum. If I want to buy Bitcoin I can use my browser or Bisq to look for offers. I guess they're targeting mobile users to begin with so I'm not the target for this product. CMIIW.

That's also my first impression, it's a open-source when I got a email from them.

They might be too late though in the market as what you have said, Electrum is the brand that most of us are familiar and have been using for years.

But let's see how Proton will market their market, maybe they can get a piece of that pie with a lot of crypto and Bitcoin users growing everyday.

Yeah, there may be no limit to the launching of crypto wallets, and even the proton coming onboard is not late, it depends on it's ability to market the wallet to a wider global users.
One basic thing in business is the marketing and promotional strategies used by companies coming up with crypto wallets, and at this stage of cryptocurrency developments, it requires strong commitment from companies to compete with the others that has been on ground.
For me, it depends on proton ability, like I said, consistency in marketing seem to be the best options to attract crypto users overtimes.