In July last year, the Swiss Proton Privacy Technology Society (Proton Mail producers) announced that she would launch its Bitcoin wallet: Proton Wallet.
I (together with about 100,000 other users) was given early access to the wallet to test it and was impressed by the user’s user interface. I particularly liked that you allow you to connect the e -mail of a user to your Bitcoin address in order to enter only the e -mail address when sending Bitcoin.
You can read my portfolio review here.
Now that the wallet is available for the general public, I will recommend it to anyone who knows that it is finally ready to move their bitcoin from the hands of an exchange and in their own custody. I will also recommend it to anyone who tries to make semi-regulation bitcoins payments with a relatively small amount of Bitcoin.
My reasons to recommend the wallet are as follows:
- It is free to use (users can create up to three wallets and have up to three accounts in each portfolio, which is sufficient for most users – more on that here; to create more wallets or account, protons charge one commission)
- It is easy to configure (it is not necessary to write the seed phrase of 12 words when setting the wallet; however, it is a good practice to do so!)
- Like Proton Mail, Proton does not have access to the user of the Proton portfolio user, nor does it have access to the private bitcoin keys of its users
- The use of an email address (which must not be a proton mail address) to send Bitcoin reduces the probability of inserting the wrong bitcoin address in the field of the recipient of a transaction
- You can select the priority speed of a transaction when sending Bitcoin
- Bitcoin can be purchased via ramp or Banxa using the Proton portfolio
The only negative aspect of the portfolio is that it does not support lightning transactions (consider Breez Sdk, Team Proton!), And it does not allow you to manage your Utxos (change dissolved by Bitcoin transactions, in terms of layperson).
The latter is not very important, however, as, again, I would recommend this portfolio to those who are not found at the custody of yourself Bitcoin. Utxo management is more a practice for Moderate BiTcoin users to advanced.
All in all, Proton has created another excellent product here for its 100 million users and the counting, and it is one that I will recommend to the newbies of Bitcoin to go on.
This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.