Giddy, the innovative self-custody crypto smart wallet that offers easy access to DeFi earning opportunities, is thrilled to announce its expansion of advanced private key technology with immediate support for Ethereum Mainnet.
This exciting development is the second chain supported by Giddy, following its initial launch on the Polygon network. It will soon be followed by other EVM-compatible networks such as Arbitrum, Base, Binance Smart Chain, and more. The announcement also marks the start of development for native Bitcoin support in the wallet.
With Ethereum Mainnet support, Giddy users can enjoy in-app fiat-to-crypto purchases, token swaps, sends, and shopping directly with thousands of recognized brands across over 150 countries. These features are available immediately. This expansion is a significant milestone for Giddy as it enhances the wallet’s functionality and accessibility, providing a seamless user experience regardless of the blockchain network.
The key feature of the Giddy wallet lies in its advanced private key technology, which eliminates the need for users to write down or store a seed phrase. Instead, the private key is split into multiple parts owned and managed by the user. These parts include a user-created password, a hardware device like a phone, and a social login such as Gmail or Apple ID. Each part is useless on its own, greatly reducing the risk of compromise.
Even if one part is lost, users can still recover their funds. Additionally, users have the option to export their private key if desired.
Eric Parker, CEO and Co-Founder of Giddy, expressed his enthusiasm about the wallet’s private key management solution, stating, “Giddy’s private key management solution is a game-changer among crypto wallets. It simplifies the user experience while enhancing security. By eliminating the need for a seed phrase and breaking down the private key into multiple factors owned by the user, we are empowering users to have more control and security over their funds.”
As the world of cryptocurrencies and decentralized finance continues to evolve, Giddy remains committed to providing secure, user-friendly, and cutting-edge solutions for its users. The expansion to Ethereum Mainnet and other EVM-compatible chains in the wallet is a significant step towards achieving that goal.
Giddy’s mission is to make decentralized finance accessible to all. With Giddy, users can buy, trade, send, earn, and shop with crypto – all from one safe and easy-to-use mobile app.
Founded in 2021 by entrepreneurs Eric and Ethan Parker, Giddy’s self-custody yet recoverable smart wallet ensures users always remain in control of their money.
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