In July of the previous year, the Swiss privacy technology company Proton, known for its creation of Proton Mail, revealed plans to introduce its own Bitcoin wallet — Proton Wallet.
I, along with roughly 100,000 other users, had the opportunity to gain early access to this wallet, and I was quite impressed by its intuitive user interface. One particularly convenient feature is the ability to link a user’s email address with their Bitcoin address, simplifying the process by allowing users to send Bitcoin just by entering an email address.
You can check out my detailed review of the wallet here.
With the wallet now available to the public, I would gladly recommend it to anyone ready to take their Bitcoin out of an exchange and into their personal control. Furthermore, it is ideal for individuals seeking to make regular Bitcoin transactions on-chain with modest amounts of Bitcoin.
Here are the reasons I endorse this wallet:
- It is free to use, allowing users to create up to three wallets, each containing up to three accounts, which is sufficient for most individuals — more details can be found here; additional wallets or accounts are available for a fee.
- The setup process is straightforward (there’s no requirement to note down the 12-word seed phrase, although it is recommended to do so).
- Proton, like Proton Mail, does not have access to user data from Proton Wallet, nor does it manage the users’ private Bitcoin keys.
- Utilizing an email address (which does not need to be a Proton Mail address) for Bitcoin transactions minimizes the chance of erroneously entering the wrong Bitcoin address.
- Users can choose the transaction speed priority when sending Bitcoin.
- Through Proton Wallet, users can purchase Bitcoin via Ramp or Banxa, making the acquired Bitcoin directly accessible within their custody.
However, it’s worth noting that the wallet currently does not support Lightning transactions (a suggestion for the Breez SDK team!), nor does it allow users to manage their UTXOs (essentially the leftover amounts from Bitcoin transactions).
Although UTXO management may not be critical for beginners, it is an essential practice for those who are more experienced with Bitcoin.
Overall, Proton has developed yet another outstanding product for its growing base of 100 million users, and I will continue to recommend it to those just beginning their journey into Bitcoin ownership.
This article represents a Take. The views presented are solely those of the author and do not necessarily reflect the perspectives of BTC Inc or Bitcoin Magazine.
