An interview with Paul Puey from Edge Wallet (HCPP 2019)

## Podcast Summary: Interview with Paul Puey from Edge Wallet (HCPP 2019)

This podcast episode, recorded live at the HCPP 2019 conference in Prague, features an in-depth interview with Paul Puey, the founder of Edge Wallet (formerly AirBits). The conversation explores the evolution of Edge Wallet from a payment-focused app to a platform centered around key management and a non-custodial exchange, aiming to empower users to take control of their cryptocurrency holdings and move away from centralized exchanges. Puey and the hosts discuss the challenges and nuances of providing accessible and secure on-ramps to the cryptocurrency world, touching on everything from payment method limitations and data privacy to the philosophical nature of financial products. The interview highlights Edge Wallet's commitment to user autonomy and transparency, while also acknowledging the inherent risks associated with navigating the cryptocurrency landscape.

Main Topics Discussed:

• Edge Wallet Evolution: Transition from a payment app (AirBits) to a non-custodial exchange and key management platform.
• Non-Custodial Exchange: The core philosophy of allowing users to retain control of their funds, avoiding centralized exchange risks.
• Payment Methods & Limits: Discussion of various payment options (bank transfers, credit cards, cash) and associated limitations, including a $2,500 weekly bank transfer limit in the US.
• Recurring Buys & Dollar Cost Averaging (DCA): Challenges in implementing recurring buys and the benefits of DCA for averaging out Bitcoin prices.
• Payment Method Concerns: Negative experiences with PayPal and the risks associated with relying on centralized payment processors.
• Wallet Monetization & Business Model: Evolution of Edge's business model, including revenue through exchange fees and licensing their key management architecture.
• Auger Integration: Integration with Auger for Ethereum wallet management and prediction markets.
• Data Privacy & Open Source: Emphasis on data privacy, client-side encryption, and the open-source nature of the Edge Wallet app.
• KYC & Fiat-to-Crypto Transactions: Recent partnership in Europe enabling KYC-free Bitcoin buying/selling up to 5,000 Swiss Francs/Euro per day.
• Philosophical Discussion: Examining the nature of financial products and the inherent element of risk/betting in all financial activities.

Key Quotes:

• "Let's get them to fuck off of the exchanges, where they leave their money there." - Paul Puey, on the goal of Edge Wallet.
• "All financial services are gambling. They're just all bets." - Paul Puey, on the nature of financial products.
• "Everything I say can be validated if you guys want to look at the code." - Paul Puey, regarding Edge's data collection practices.
• "You know, why have money to buy Bitcoin when you can use the government's money that they just keep printing anyway and give to banks?" - A humorous comment about using credit cards to buy Bitcoin.

People Mentioned:

• Theo Goodman (Host)
• Dan Eave (Host)
• Paul Puey (Edge Wallet)
• Max Hillabran
• Unidentified individuals (referenced in discussions about Bitcoin and exchanges)

Bitcoin Prices:

• No specific Bitcoin prices were mentioned, although the discussion revolved around limits on buying Bitcoin with bank transfers ($2,500/week in the US).