Synonym's Bitkit Wallet Debuts on iOS and Android
Synonym has officially launched its Bitkit wallet, making it available for general use on both iOS and Android platforms. The app, which integrates a sophisticated user interface, self-custody security, and the speed of the Bitcoin Lightning Network, marks a significant milestone following its beta testing phase.
Launch Announcement & Features
John Carvalho, CEO of Synonym, expressed his excitement about the release: “We’re proud to finally launch Bitkit as the ultimate Bitcoin toolkit. Your keys. Your coins. No banks. All in a sleek app with modern features.” The wallet aims to provide users with complete control over their funds, adhering to the principles of self-custody that align with Bitcoin’s original ethos.
Development & Feedback
During its development, Bitkit was refined based on extensive user feedback, resulting in substantial bug fixes and usability improvements. This iterative process has enhanced the wallets functionality and user experience, ensuring that it meets the needs of its users.
Focus on Self-Custody
A defining feature of Bitkit is its focus on self-custody, allowing users to manage their Bitcoin without relying on third-party services. Carvalho commented on the current trend towards custodial solutions in Bitcoin wallet services, which he views as contrary to the decentralised nature of Bitcoin. “Since the Lightning Network started gaining traction, custodial wallets have dominated the market,” he said. “ That is the antithesis of Bitcoin, which is about eliminating reliance on centralised systems.”
Collaboration & Interoperability
In addition to its self-custody focus, Synonym is working with other leading Bitcoin companies to establish interoperable standards for Lightning Service Providers (LSPs). This collaboration aims to facilitate broader adoption of self-custodial services on the Lightning Network, enhancing the overall ecosystems robustness and user autonomy.
Transition for Beta Users
For existing beta users, Synonym has provided guidance to ensure a smooth transition to the new Bitkit version 1.0. Users are advised to transfer any balance from their spending account to savings before restoring their wallets on the updated app.
Impact & Future Prospects
The launch of Bitkit represents Synonym’s commitment to promoting self-custody within the Bitcoin space. This development may influence future trends in the industry as it strives to balance user-friendliness with the foundational principles of Bitcoin. By offering a tool that emphasizes user control and decentralisation, Synonym hopes to lead by example and encourage other wallet providers to adopt similar philosophies.
Source: Synonym
