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Proton releases a self-custody bitcoin wallet | Proton Wallet is open source and has been audited by a third-party firm, the company said (techcrunch.com)

submitted 5 months ago by [email protected] to c/[email protected]

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Proton isn’t reinventing the wheel with this crypto wallet. But it’s another solid option for people looking to create a crypto wallet for the first time. However, cryptocurrencies tend to be a polarizing topic, so let’s see if Proton Wallet doesn’t hurt Proton’s brand image in the future.

More information: Proton Blog Article

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[–] [email protected] 1 points 5 months ago* (last edited 5 months ago)

I'm similar, I've been on Linux for 15-ish years and I've been pushing to get off Google. So I get the anti-big company sentiment. I also understand being tired of crypto nonsense, there are so many scams that the handful of legitimate use-cases get buried in a sea of speculation.

But offering a crypto wallet has nothing to do with that. Proton doesn't get any of the crypto, and you could get essentially the same thing with just using their drive to store your keys and using a separate wallet app. I could probably build a Bitcoin wallet in a weekend, they're really not that complicated and there are plenty of FOSS libraries and whatnot to borrow from.

I get it though, there are a ton of crypto scams out there. If Proton created their own coin, then I'd be with you running for the hills. But just offering a wallet might catch the attention of new customers, and more customers means more investment in their platform. Proton is transitioning to a non-profit structure, so they're really not in it to make a quick buck, they're on it to build a solid, sustainable business.

My main complaint is that they're prioritizing Bitcoin, which is very much not a privacy-focused cryptocurrency, instead of Monero, which is a lot more privacy focused (but also more complex to build a wallet for), so their appeal to privacy-minded crypto people would be minimal. But it's low hanging fruit so why not?