Proton debuts privacy-centric Bitcoin wallet allowing transfers via email Proton debuts privacy-centric Bitcoin wallet allowing transfers via email
The firm said the wallet would make Bitcoin transactions as easy as sending emails.
2 min read
Updated: Jul. 24, 2024 at 3:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Proton, a privacy app developer, has introduced a new open-source Bitcoin-only wallet that allows sending Bitcoin via email. This private wallet offers users full control over their digital assets, according to a July 24 statement shared with CryptoSlate,
The Swiss company is well-known for its privacy-focused applications, such as email, VPN, password manager, calendar, cloud storage, and document services.
Proton wallet
Proton Wallet simplifies Bitcoin transactions, allowing users to send the top crypto as effortlessly as an email.
The wallet aims to make Bitcoin more accessible and encourage its adoption as a decentralized payment method. The company said that users in over 150 countries can use the wallet to purchase Bitcoin directly.
The wallet has several features, including enhanced security measures to safeguard user privacy by leveraging Proton’s existing infrastructure. The firm also stated that it will rotate Bitcoin addresses each time a user transacts, thereby helping to protect their privacy further.
The wallet also supports two-factor authentication and Proton Sentinel, which uses artificial intelligence to prevent malicious login attempts.
Andy Yen, Founder and CEO of Proton, said:
“Bitcoin’s value to society has been hindered by the difficulty of transacting and security concerns, and we designed Proton Wallet to specifically address both. 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”
Why Proton built a Bitcoin-centric wallet
Proton’s decision to create a Bitcoin wallet is surprising, given its non-crypto background. The firm has never issued a digital asset, traded, speculated in crypto, or operated as an exchange.
However, Proton is quite familiar with Bitcoin and has been a long-time supporter of the leading digital asset. The firm said it holds Bitcoin as part of its financial reserves, and the launch of the Proton Wallet is a significant move towards protecting users’ economic freedom.
Dingchao Lu, Director of Proton Wallet, explained:
“Proton has experienced first-hand the dangers of the traditional financial sector. In 2014 PayPal temporarily froze our assets and nearly ended Proton before it even got started. That moment has stayed in our minds ever since and with the launch of Proton Wallet we want to reduce the world’s dependence on centralized financial institutions.”
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