• The New ‘Cloud Wallet’ Feature in Huobi Wallet Eliminates the Need for Private Keys

  • Huobi Wallet has announced the introduction of a new ‘Cloud Wallet’ feature that will make it easier for new DeFi users to use the DeFi app.

    According to an announcement made by the Huobi Wallet team on Monday, October 11, this ‘Cloud Wallet’ feature allows users to manage their digital assets without having to keep a private key, making it easier for users new to the digital asset space to take advantage of DeFi applications.

    According to the announcement, the new feature also includes a lot more to help people get started in the world of decentralized finance (DeFi). As DeFi grows, more and more users are using the DeFi application, but things aren’t so simple for newcomers. Non-custodial wallets, such as Metamask, are difficult for newcomers to manage because they require owners to keep their own private key, which is a complicated and time-consuming process.

    Huobi Wallet is a non-custodial multi-chain light mobile wallet that integrates a variety of DApp interfaces and allows users to easily manage multi-chain assets, track their real-time DeFi mining income, and claim rewards with a single click. Huobi Eco Chain (HECO), TRON, and the recently added Layer-2 scaling solution Polygon are currently supported by the wallet. Other public chains will be supported as well.

    To assist DeFi newcomers, the newly launched Cloud Wallet feature will allow users to hold their digital assets without having to manage a private key through a third-party management system that keeps users’ private keys safe through key escrow.

    Furthermore, for those who are new to the space, deciding on the best projects to participate in and invest in can be difficult. Cloud Wallet will launch selected DeFi projects based on analyses such as total value locked (TVL), audits, and team evaluations to assist users in this regard, allowing users to “participate in the DeFi ecosystem without having to screen projects themselves.”

    Furthermore, Cloud Wallet syncs with Huobi Global, allowing users to easily transfer assets from their Huobi Global account to the wallet in order to use DeFi apps. More features, such as real-time tracking of DeFi investments and profits, will be added later to help users make investment decisions.

    Liser Lee, CEO of Huobi Wallet, stated:

    “The world of DeFi offers limitless opportunities for traders, investors, developers, and even the average person just getting started in the blockchain space.” We’re improving the user experience with our new Cloud Wallet feature so that anyone and everyone can explore the rich features and services DeFi applications have to offer.”

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