{"id":257674,"date":"2024-08-29T17:04:04","date_gmt":"2024-08-29T17:04:04","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/29\/proton-wallet-review-a-bitcoin-software-wallet-that-simplifies-transactions\/"},"modified":"2025-06-25T17:11:40","modified_gmt":"2025-06-25T17:11:40","slug":"proton-wallet-review-a-bitcoin-software-wallet-that-simplifies-transactions","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/29\/proton-wallet-review-a-bitcoin-software-wallet-that-simplifies-transactions\/","title":{"rendered":"Proton Wallet Review: A Bitcoin Software Wallet That Simplifies Transactions"},"content":{"rendered":"

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Proton<\/a>, the Swiss company behind ProtonMail and ProtonVPN, has released a beta version of the newest offering in its suite of products that help to preserve online privacy \u2014 Proton Wallet<\/a>.<\/p>\n

The wallet is great for those looking to send bitcoin on-chain with relative ease, but it leaves some to be desired for more advanced users or for those who want to make smaller payments quickly and cheaply.<\/p>\n

Pros And Cons<\/h2>\n

Proton Wallet\u2019s standout feature is that it allows you to send bitcoin using nothing more than a recipient\u2019s email address, which doesn\u2019t have to be a ProtonMail address. The non-custodial bitcoin-only wallet is also free to use and has an easy-to-navigate user interface (UI).<\/p>\n

However, it lacks in that it only allows users to make transactions on the Bitcoin base chain \u2014 not over Lightning<\/a> \u2014 which can take upwards of hours to settle, and it doesn’t allow users to manage their UTXOs or adjust fees. Plus, it\u2019s a software wallet and cannot be disconnected from the internet like a hardware wallet, which increases the risk of the wallet\u2019s private keys being compromised.<\/p>\n

Getting Started With Proton Wallet<\/h2>\n

To use the beta version of the product, you need an invitation either from the company or another user. The wallet is currently available via web browser and as an Android app and takes 5 to 10 minutes to set up and begin using.<\/p>\n

Once you\u2019ve received an email invitation to use the wallet, you can click on the \u201cStart using Proton Wallet\u201d link in the invitation email to get started setting it up. (Email addresses have been blacked out below and throughout this review to preserve privacy.)<\/p>\n

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Invitation email for Proton Wallet<\/figcaption><\/figure>\n

You\u2019ll be taken to a \u201cwallet setup\u201d page where you\u2019ll simply click a button to get started with Proton Wallet. You won\u2019t be prompted to write down the 12-word seed phrase as you set up the wallet, which was a nice touch by Proton to help users to more simply get started using the wallet. You can write down the seed phrase later if you please, though.<\/p>\n

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Wallet setup<\/figcaption><\/figure>\n

As you set up the wallet, Proton makes it clear that your Proton Wallet is a non-custodial Bitcoin wallet, which means that managing the wallet is your responsibility and your responsibility alone.<\/p>\n

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Warning message<\/figcaption><\/figure>\n

The home screen of the wallet is straightforward and incredibly easy to navigate. It\u2019s as pared down so as to include little more than the basics you need to send, receive and buy bitcoin.<\/p>\n

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Home screen<\/figcaption><\/figure>\n

Depositing Bitcoin In Proton Wallet<\/h2>\n

To begin using the wallet, you\u2019ll first have to deposit some bitcoin. You can deposit bitcoin from another wallet you manage. To do so, you\u2019ll need to copy the bitcoin address by clicking on the \u201cReceive\u201d button on the home screen and then clicking the \u201cCopy Bitcoin address\u201d button in the window that pops up on the right of the screen.<\/p>\n

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Receiving bitcoin<\/figcaption><\/figure>\n

You\u2019ll copy that address into the proper field from the wallet you’re sending it from. It\u2019s good practice to double check that the address you\u2019ve pasted matches the address you\u2019ve copied.<\/p>\n

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Sending bitcoin from an exchange<\/figcaption><\/figure>\n

The bitcoin won\u2019t appear in your Proton Wallet balance immediately. It usually takes at least a few minutes for the transactions to process, as this depends on how long it takes for block confirmations to occur. Some transactions can take much longer \u2014 upwards of hours.<\/p>\n

You can see that the funds are on their way, though, in the \u201cTransactions\u201d section of the home screen. You\u2019ll continue to see an \u201cIn progress\u201d notification until the necessary amount of block confirmations has occurred.<\/p>\n

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“In progress” notification<\/figcaption><\/figure>\n

Buying Bitcoin With Proton Wallet<\/h2>\n

If you don\u2019t have any bitcoin to send to your Proton Wallet, you can also use the wallet to buy some. This process is relatively straightforward.<\/p>\n

You can click the \u201cBuy\u201d button on the home screen and you\u2019ll be taken to a page that serves as an interface for crypto asset service providers Ramp<\/a> and Banxa<\/a>.<\/p>\n

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Selecting your location<\/figcaption><\/figure>\n

Complete the fields for how much bitcoin you want to purchase, choose whether you want to use Banxa or Ramp and select your payment method.<\/p>\n

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Selecting your payment method<\/figcaption><\/figure>\n

Instructions from this point vary depending on the payment method you choose.<\/p>\n

Sending Bitcoin With Proton Wallet<\/h2>\n

You can send bitcoin as simply as clicking the \u201cSend\u201d button on the home screen and then inputting either a bitcoin address or an email address. Note that your recipient doesn\u2019t need a ProtonMail address.<\/p>\n

I used an email address to send some bitcoin.<\/p>\n

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Sending bitcoin with an email address<\/figcaption><\/figure>\n

Next, you\u2019ll be taken to an \u201cAmount\u201d page, where you\u2019ll input the amount of bitcoin you\u2019d like to send, denominated either in either a fiat currency or sats.<\/p>\n

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Selecting the US dollar amount of bitcoin to send<\/figcaption><\/figure>\n

On the \u201cReview\u201d page, you can leave a message for the recipient. It\u2019s optional to do so.<\/p>\n

On this page, you\u2019ll also be presented with the total amount of your transaction, including the network fee, which is non-configurable (you can\u2019t pay higher fees for faster transfers as you can with many other wallets).<\/p>\n

You won\u2019t be presented with the option to select UTXOs to spend, an option that a desktop Bitcoin wallet like Sparrow<\/a> provides you with.<\/p>\n

If you\u2019re comfortable with the amount you want to send and the fee, you can click the \u201cConfirm and send\u201d button.<\/p>\n

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Reviewing transaction details<\/figcaption><\/figure>\n

You\u2019ll be able to see whether or not your transaction has cleared by looking at the \u201cTransactions\u201d section.<\/p>\n

In my case, the recipient was notified that the bitcoin was on the way before the transaction received the required number of confirmations on the blockchain.<\/p>\n

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Transaction details appear at the bottom of the home screen<\/figcaption><\/figure>\n

This particular transaction took over an hour to complete.<\/p>\n

Securing Your Proton Wallet<\/h2>\n

Proton Wallet lets you secure and back up your wallet in different ways.<\/p>\n

The first level of security for the wallet is the password you use to log in to it, which you create when you set up the wallet.<\/p>\n

Proton Wallet lets you add a second level of security by offering two-factor authentication (2FA).<\/p>\n

To set this up, you can click on the \u201cSecure your wallet\u201d tab in the top right hand corner of the home screen. You\u2019ll then be presented with the option to set up 2FA for your wallet.<\/p>\n

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Securing your wallet<\/figcaption><\/figure>\n

If you want to add 2FA protection to your account, you can click the \u201cSet up 2FA to secure your account\u201d button. When you do so, you\u2019ll be taken to a page on which you can toggle a switch to set up 2FA for the account. If you choose to do this, toggle the \u201cAuthenticator app\u201d switch and follow the subsequent instructions.<\/p>\n

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Enabling 2FA<\/figcaption><\/figure>\n

Backing Up Your Proton Wallet<\/h2>\n

Proton Wallet allows you to back up your wallet\u2019s seed phrase whenever you\u2019d like. To do so, you can click on \u201cBackup this wallet\u2019s seed phrase\u201d on the home screen.<\/p>\n

You\u2019ll then be taken to a screen that explains what a seed phrase is and why it\u2019s important to safely back it up. Click the \u201cView wallet seed phrase\u201d button to view the seed phrase for your wallet.<\/p>\n

It\u2019s best practice to store your seed phrase offline (e.g., written on a piece of paper or imprinted on steel<\/a>) so that it can\u2019t be compromised.<\/p>\n

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Obtaining your seed phrase<\/figcaption><\/figure>\n

Discover and Customer Service<\/h2>\n

Proton Wallet has a substantial \u201cDiscover\u201d section in which you can learn more about everything from what Bitcoin is to Proton Wallet\u2019s security model.<\/p>\n

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The “Discover” section<\/figcaption><\/figure>\n

Proton also makes it relatively easy for you to get in touch with customer service staff, though, response times are currently unknown.<\/p>\n

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Contacting customer service<\/figcaption><\/figure>\n

Conclusion<\/h2>\n

Proton Wallet is a good Bitcoin wallet for beginners, especially those looking to send bitcoin with relative ease, using nothing more than an email address.<\/p>\n

The pros of this non-custodial wallet are that it\u2019s free to use, easy to set up and secure. It\u2019s also bitcoin only and open-source.<\/p>\n

However, one notable con of the wallet is that it only allows you to transact on the bitcoin base chain, which means your transactions may incur high fees and take over an hour to fully process. For this reason, you wouldn\u2019t want to use Proton Wallet if you’re looking to make cheap, fast micropayments \u2014 the types of transactions you can make over Lightning.<\/p>\n

Another drawback of the wallet is that it doesn\u2019t permit you to manage UTXOs or select transaction speed and fees. And it\u2019s a software wallet, which means it\u2019s less secure than a hardware wallet in certain regards.<\/p>\n

With that said, if you\u2019re new to Bitcoin and already familiar with the interfaces for Proton products, then this wallet may be a good option for you.<\/p>\n

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