Protestant traditions have long articulated a complex relationship between individual conscience, communal belonging, and the public sphere. This paper explores how Protestant theologies and practices engage the contemporary challenges of religious pluralism, with a specific focus on the tension between individual rights and collective identities. Drawing on Reformation principles such as the priesthood of all believers, freedom of conscience, and the decentralisation of ecclesial authority, Protestant communities have often championed models of pluralism grounded in equality, participation, and dialogical openness. Yet these same principles can generate new vulnerabilities: individual autonomy may conflict with communal norms, minority churches may face structural inequality, and the rhetoric of equality may obscure persistent power asymmetries—particularly in contexts marked by superdiversity and migration. Through case studies from European Protestantism, including Italian Waldensian and Methodist experiences, the paper examines how churches navigate internal diversity, interfaith encounter, and the demands of public recognition. It argues that Protestant pluralism is best understood not as a stable doctrine but as a set of dynamic practices that continually renegotiate the balance between individual agency and collective identity. This perspective illuminates both the potential and the limits of Protestant contributions to a more equal and plural society.