Giddy, the innovative self-custody crypto smart wallet that provides easy retail access to DeFi earning opportunities, is excited to announce it is “expanding its advanced private key technology with immediate support for Ethereum Mainnet.”
This marks the second chain supported by Giddy “following its initial launch on the Polygon network, and will soon be followed by other EVM-compatible networks such as Arbitrum, Base, Binance Smart Chain, and more. And, this announcement officially kicks off the start of development for native Bitcoin support in the wallet.”
Ethereum Mainnet support reportedly “includes in-app fiat-to-crypto purchases, token swaps, sends, and shopping direct with thousands of the most recognized brands spanning more than 150 countries, and is available immediately.” This is a significant milestone “for Giddy as it enhances the wallet’s functionality and accessibility across different blockchain networks, creating a seamless user experience regardless of network.”
The key feature of the Giddy wallet is its advanced private key technology which “does not require the user to write down or store a seed phrase.”
Instead, Giddy’s private key solution splits “the private key into multiple parts that are owned and managed by the user, including a user-created password, a hardware device such as their phone, and a social login like Gmail or Apple ID.”
Any one part is useless on its own, significantly “reducing any risk of compromise.”
Furthermore, if one part is lost, the user can still “recover their funds.” If desired, the user can “still export their private key.”
Eric Parker, CEO and Co-Founder of Giddy, said:
“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 is committed to providing secure, user-friendly, and cutting-edge solutions for its users. This expansion to Ethereum Mainnet and other EVM-compatible chains in the wallet is a major step towards achieving that goal.
As noted in the update, Giddy is on a mission “to make decentralized finance accessible to all. With Giddy you 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 “means you’re always in control of your money.”