In July of final yr, Swiss privateness tech firm Proton (makers of Proton Mail) announced it could be launching its personal bitcoin pockets — Proton Wallet.
I (together with about 100,000 different customers) was given early entry to the pockets to check it out and was impressed with the pockets’s consumer interface. I significantly preferred that it means that you can hyperlink a consumer’s e mail tackle to their bitcoin tackle so that you simply solely have to enter the e-mail tackle when sending bitcoin.
You possibly can learn my evaluate of the pockets here.
Now that the pockets is obtainable to most of the people, I’ll suggest it to anybody I do know who’s lastly prepared to maneuver their bitcoin out of the arms of an alternate and into their very own custody. I’ll additionally suggest it to anybody seeking to make semi-regular bitcoin funds on-chain with a comparatively small quantity of bitcoin.
My causes for recommending the pockets are as follows:
- It’s free to make use of (customers can create as much as three wallets and have as much as three accounts in every pockets, which is enough for many customers — extra on that here; to create extra wallets or accounts, Proton fees a payment)
- It’s straightforward to arrange (you aren’t required to put in writing down the 12-word seed phrase if you arrange the pockets; nevertheless, it’s good follow to take action!)
- Like Proton Mail, Proton has no entry to Proton Pockets consumer information, nor does it have entry to its customers’ personal bitcoin keys
- Utilizing an e mail tackle (which doesn’t must be a Proton Mail tackle) to ship bitcoin reduces the chance of inputting the flawed bitcoin tackle into the recipient area of a transaction
- You possibly can choose the precedence pace of a transaction when sending bitcoin
- You should purchase bitcoin by way of Ramp or Banxa utilizing Proton Pockets, enabling the bitcoin you buy to be transferred immediately into your custody
The one downsides to the pockets is that it doesn’t assist Lightning transactions (contemplate the Breez SDK, Proton crew!), and it doesn’t allow you to handle your UTXOs (unfastened change from bitcoin transactions, in layperson’s phrases).
The latter isn’t tremendous vital, although, as, once more, I’d suggest this pockets to these new to bitcoin self custody. UTXO management is extra of a follow for average to superior Bitcoin customers.
All in all, Proton has created yet one more fantastic product right here for its 100 million customers and counting, and it’s one which I’ll be recommending to Bitcoin newbies shifting ahead.
This text is a Take. Opinions expressed are totally the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.