Quick take:
The Bitcoin wallet launch joins Proton mail, VPN and Drive in the company’s growing portfolio of services.
Proton wants to make the wallet more accessible to non-crypto native users as it seeks to help make Bitcoin the preferred mode of payment.
Proton Wallet will initially support Bitcoin at launch but may support other currencies later including fiat.
Proton, the organisation behind Proton Mail, Proton VPN and Proton Drive is adding another service to its portfolio, Proton Wallet.
The new self-custodial crypto wallet will allow users to buy, store and transfer bitcoin using their email. Proton says its user-friendly wallet is designed to make it easy for non-crypto native users to start using Bitcoin as a mode of payment, as they transition from centralised institutions, The Block reported.
Proton leverages its existing infrastructure to provide strong security features to users. The wallet’s integrated crypto on-ramps enable users to users in more than 150 jurisdictions to buy Bitcoin.
Users can send and receive Bitcoin via their email addresses (Proton Mail or otherwise) as long as they both have a Proton Wallet. The company seeks to eliminate the complexities of using long cryptocurrency addresses when sending Bitcoin.
Although Proton Wallet will initially support Bitcoin, the company is open to adding support for more cryptocurrencies, including fiat currency, in the future, depending on user feedback, the firm explained.
“By enabling us and the entire Proton community to more easily adopt means of payment which are not controlled by centralized institutions, we better insulate Proton from the risks posed by traditional finance,” Proton founder and CEO Andy Yen said. “Proton Wallet’s ability to support Bitcoin via email now makes Bitcoin transactions as easy to use as PayPal while preserving the decentralized and non-custodial nature of Bitcoin.”
Self-custodial wallets grant users control of their private keys, empowered with secure recovery methods, thus protecting their assets from unauthorised access, including Proton.
The wallet also features a two-factor authentication process that gives users access to Proton Sentinel, Proton’s security feature that uses machine learning, AI and human analysis to block unauthorised login attempts.
According to the firm, Proton Sentinel “protects users’ accounts, even in situations where they have already been compromised or an attacker has gained access to the user’s login credentials.”
The company has already launched the early access versions of the wallet for Web, iOS and Android devices via the Proton Visionary plan.
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The post Privacy-Focused Solutions Provider Proton Launches Self-Custodial Bitcoin Wallet appeared first on NFTgators .
