Cryptocurrencies

Synonym announced that Bitkit, a self-custodial Bitcoin wallet, will now be available

Synonym has announced that Bitkit, a self-custodial Bitcoin wallet, will now be fully available on the iOS and Android app stores.

The launch marks Bitkit’s transition from beta testing to public access, allowing users to manage their Bitcoin (BTC) transactions without intermediaries.

In a press release shared with Cointelegraph, Synonym CEO John Carvalho said:

“Bitkit is more than just a Bitcoin wallet (…) it is primarily designed to allow users to self-save. “This official release represents a crucial step forward in our commitment to enabling users to manage their financial affairs independently, without the risks and restrictions imposed by third-party custodians. »

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Security and user control

According to the press release, Bitkit will support on-chain and accelerated BTC transactions and provide a secure and easy-to-use interface.

Over the past year, user feedback has greatly influenced the wallet, helping to guide bug fixes and usability improvements.

By supporting BTC on-chain and through the Lightning Network, Carvalho highlighted the spirit of Bitkit, saying:

“The adage “not your keys, not your coins” applies to the Lightning Network as much as it does to the core layer. Our mission with Bitkit is to ensure that users maintain full control of their funds.

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Anti-detention measures

The increased prevalence of custodial wallets, which require external entities to hold user assets, has sparked concern among Bitcoin users who value decentralization, as Carvalho pointed out:

“Since the Lightning Network started gaining traction in 2020, custodial wallets have dominated the market. This went against the essence of Bitcoin, which is to eliminate dependence on centralized systems. Bitkit was created to counter this trend by offering a powerful, accessible and self-protecting alternative.

Bitkit’s commitment to self-custody means users retain control of their assets without counterparty or censorship risk.

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Pet Kit Roadmap

Bitkit is planning a “thorough post-launch rewrite,” meaning the developers plan to completely rework the software codebase after the initial release.

This “rewrite” process may include re-evaluating and redesigning essential elements of the wallet’s code, structure, and functionality.

This redesign typically focuses on refactoring existing code to improve performance, maintainability, and security, adding new features, and implementing changes from user feedback.

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