Synonym's recent announcement reveals that Bitkit, the self-custodial Bitcoin wallet, is now officially available for download on the iOS and Android app stores. This release signifies Bitkit's transition from beta testing to public release, enabling users to oversee their Bitcoin transactions independently, without the need for intermediaries.

In a communication with Cointelegraph, John Carvalho, the CEO of Synonym, highlighted that Bitkit is more than just a standard Bitcoin wallet. It is designed to empower users with self-custodianship, marking a significant advancement in providing users with the ability to manage their finances autonomously, free from the constraints of third-party custodians.

Bitkit offers support for onchain BTC transactions and the Lightning Network, ensuring a secure and user-friendly interface for its users. The valuable feedback received from users over the past year has served as a guiding force in improving the wallet, focusing on bug fixes and user experience enhancements.

Carvalho reiterated the importance of user security and control with Bitkit, emphasizing the principle of 'Not your keys, not your coins' in both the Lightning Network and the base layer. The primary objective of Bitkit is to empower users to maintain complete control over their financial assets.

The proliferation of custodial wallets, wherein third-party entities manage user assets, has sparked concern among BTC users who prioritize decentralization. Carvalho criticized this trend, highlighting that it goes against the core principles of Bitcoin's decentralized nature. Bitkit emerges as a robust self-custodial choice, ensuring users retain control over their assets without exposure to counterparty or censorship risks.

Looking forward, Bitkit has outlined plans for a comprehensive post-launch rewrite. This strategic initiative involves a holistic revision of the software's codebase subsequent to the initial release, potentially encompassing the reassessment and redesign of fundamental components of the wallet's code, structure, and functionalities. The primary focus will be on enhancing performance, security, and user experience, incorporating new features and implementing adjustments based on user feedback.