Can someone explain to me why this is good? Sounds like another custodial wallet.
Discussion
TLDR: potentially expands adoption the right way.
There are over 100 million proton accounts. For comparison, there are around 10 million bitcoin addresses with more than $1000 worth of btc. This wallet exposes many tech savvy and privacy focused individuals with an easy to use custodial wallet. Also, sends BTC by email. LFG
It's self custodial.
Forgive the pedantry, but wouldn’t it not be fully self-custodial if you are giving or storing your keys with another party? If they can sign transactions for you they can also sign transactions to steal from you
I guess they don't have access to the wallet keys in any way.
But I've not checked the source code.
It is a soft lie. They can always provide a different version of the website that captures your unlocking passwords when your IP address is interesting to governments.
Even messages shared here privately are more private than Proton.