Proton: A Beginner's Guide

Beginners guide to Proton. Short and informative guide with all the references that you need to get you started with Proton.

Table of contents

Short and sweet, this walk-through guides you on how to get your wallet installed, how to backup and how to buy XPR.

This page will be intentionally kept short with references to all the materials you need to get started with Proton.

What is Proton Blockchain?

Proton Blockchain is a new public blockchain and smart contract platform that will change the world but it is much more than a public blockchain, it's a whole ecosystem that has been slowly building up over the past year. There is just so much to say but to keep this page short, please read the following post and FAQ page:

Introducing Proton Chain
The Blockchain that Interacts with Fiat
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Proton FAQ
Proton Chain single most comprehensive list of Frequently Asked Questions.
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Then, make sure you check the Proton Blockchain's home page and blog, both hold lots of good content already:

Build on Proton
The Payment Blockchain: Programmable Money that actually works.
Proton Chain Blog - The latest news and updates about the Proton blockchain
The latest Proton (XPR) news and updates.
Proton Chain Blog

Webauth.com Wallet (Proton Wallet 2.0)

Proton XPR has ERC20 and BSC versions but the best place to keep your Proton XPR is in the webauth.com wallet. It's Proton Blockchain Swiss army knife! Again, there is a whole post about what a wallet is, please read more there and come back to this guide:

Introducing Proton Wallet
The last wallet you will ever need
Proton UKProtonUK

Now that you know how good is Proton Wallet, you need to install it on your mobile device, only iOS and Android are supported today. You can search for Webauth.com wallet in the app store or google play, there is also a shortcut on the Proton Blockchain wallet page here:

Download Webauth.com
Enjoy staking, swapping, and wrapping - all in one app! The cutting-edge of cryptocurrency is easier to use than ever before.
Wallet

Proton KYC

KYC stands for Know Your Customers and it's the process of the vendor or third-party to verify your identity and prove that you are the one you say you are. KYC is not new, whenever you open a bank account, rent a car, or invest in stocks and shares you need to provide your personal details. The reason for that is to prevent fraud, money laundering and money transfers from any other illegal activities. Proton is no different, they allowed customers to KYC 2 years ago. The difference now is that their partner inode does the KYC and like many other apps, it requires you to upload your identification document and take a selfie.

If you want to use any of the Proton dApps, like bridge, farms, loan, dex then you need to KYC. You can do it at https://protonkyc.com

💡
Beginning July 30, 2022, the Proton Bridge will only be accessible to users who have verified their identities. This means that should you wish to deposit or withdraw coins cross-chain i.e. using the proton bridge you need to be verified. You will still be able to transfer wrapped coins on-chain and also transfer XPR on mainnet, including to other exchanges like KuCoin and gate.io.

Backup your keys

Make sure you BACKUP your private key after you install the wallet and create an account. This is the single most important key and the only way to access your funds in Proton Wallet. It cannot be recovered by anyone! Please read this guide and backup your key now!

The importance of WebAuth.com Wallet private key
There is nothing more important than your wallet and private key. Make sure you keep a COPY of it somewhere safe and NEVER share it with anyone!
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How can I buy Proton XPR?

Now that you have Webauth.com wallet and a backup of your private key it's time to get you some Proton XPR. You can find the exchanges in the FAQ section but generally, there are a few options that users mostly use:

  • Webauth.com Wallet: You can swap XPR directly in your wallet for USDC, USDT, EOS, BTC, and ETH. Bear in mind that USDC has the best liquidity at the moment. You can deposit USDC over ERC20 and BEP20.
  • Proton Swap: You can connect your Proton Wallet and swap for other currencies available under Proton Swap, the next-generation decentralized cryptocurrency exchange.
  • Metal Pay: You can buy XPR in USD (US residents only for now).
  • Kucoin: XPR mainnet - XPR/USDT and XPR/BTC
  • Gate.io: XPR mainnet - XPR/USDT
  • Bithumb Korea: XPR mainnet - XPR/KRW
  • HitBTC: XPR mainnet - XPR/BTC and XPR/USDT

Soon, the new fiat integration in Proton will provide you with a bank account and routing number or IBAN for international you wire in funds and it disburses XUSDC to your Proton Wallet.

Whitepaper

The new Proton whitepaper 2.0 was released in June 2022. It's a 26-page long document with all details about the Proton ecosystem.

Roadmap

Over the past year, the team delivered all milestones set in the roadmap. The new Proton roadmap was published in April 2022. Since then, the team released Proton DEX and Proton DAO. Please note that these are goals and not deadlines, hence there will be no specific dates as to when the milestones will be delivered.

Also, make sure you check the long-term roadmap.

Community

Proton has an amazing community. Make sure you join Proton Telegram, Discord and Reddit groups.

Newsletter

Make sure you subscribe to ProtonUK Newsletter run by Proton UK. It's a weekly newsletter sent every Monday with the latest news, opinions and articles related to the Proton ecosystem.

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