The Proton Wallet, now accessible to all, is an excellent introductory self-stored Bitcoin Wallet


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Swiss-based privacy tech firm, Proton (renowned for Proton Mail), made headlines in July the previous year when it unveiled plans to launch its bitcoin wallet – the Proton Wallet.

As one of the privileged 100,000 users invited to test the wallet, I was pleasantly surprised by the wallet’s user-friendly interface. Its standout feature allows users to link their email address to their bitcoin address, simplifying the process of sending bitcoins.

Find my comprehensive review of the wallet here.

Now, with the wallet accessible to the masses, it is my top recommendation for anyone ready to take control over their bitcoin away from exchanges and into their own hands. It is also ideal for those planning to make frequent, small bitcoin payments on-chain.

Here’s why I endorse the Proton Wallet:

  • It’s free for basic use, and users can create three wallets, each with three accounts. Proton does charge a fee for additional wallets or accounts.
  • Setting it up is a breeze. Although, it’s not mandatory to note down the 12-word seed phrase when initializing the wallet, it is advisable to do so.
  • Similar to Proton Mail, Proton assures that it doesn’t have access to user data or the private bitcoin keys of Proton Wallet users.
  • The convenience of using an email address to transfer bitcoin lessens the chance of entering an incorrect bitcoin address in the recipient field of a transaction.
  • The wallet lets you dictate the priority speed of a transaction when sending bitcoin.
  • Bitcoin can be bought via Ramp or Banxa using Proton Wallet, ensuring the bitcoin you purchase is transferred directly into your custody.

Despite its many perks, the wallet does fall short in a couple of areas – it does not support Lightning transactions and doesn’t allow you to regulate your UTXOs (think of it as the spare change from bitcoin transactions).

However, the UTXO management isn’t a crucial factor for beginners in bitcoin self custody. It’s more relevant to intermediate to advanced Bitcoin users.

Overall, Proton has delivered yet another noteworthy product for its growing user base of over 100 million. It’s a tool I would certainly encourage Bitcoin novices to explore.

This piece is an opinion-based article. The views expressed are solely those of the author and do not necessarily represent those of BTC Inc or Bitcoin Magazine.

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