Synonym has officially launched its Bitkit wallet, transitioning from beta testing to general availability on both iOS and Android app stores. The app integrates a sophisticated user interface, the security of self-custody, and the speed of the Bitcoin Lightning Network.

John Carvalho, the CEO of Synonym, expressed his enthusiasm 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."

During its development, Bitkit has reportedly been refined based on user feedback, leading to significant bug fixes and usability improvements. The focus on self-custody is a defining feature of Bitkit, aiming to give users complete control over their funds without relying on third-party services, which Synonym believes is in line with the original ethos of Bitcoin.

Carvalho also commented on the current trends in Bitcoin wallet services, where custodial solutions have become more common, potentially undermining the decentralized 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 centralized systems."

Moreover, Synonym is collaborating with other leading Bitcoin companies to establish interoperable standards for Lightning Service Providers (LSPs). This effort is intended to facilitate broader adoption of self-custodial services on the Lightning Network.

For existing beta users, Synonym advises transferring any balance from the spending account to savings before restoring their wallets on the new Bitkit version 1.0 to ensure a smooth transition.

The launch of Bitkit represents Synonym's commitment to promoting self-custody in the Bitcoin space and may influence future developments in the industry as it strives for a balance between user-friendliness and the foundational principles of Bitcoin.

Synonym Blog Post

Bitkit Announcement