This full-featured crypto wallet accelerates the DeFi experience

The sad reality is that most decentralized finance (DeFi) wallets and protocols are complicated to use, especially for beginners. While feature-rich, these products are often designed by technologists rather than everyday users who need more guidance to get started.

As consumers got used to the simple interface of apps like Tinder, the "swipe left, swipe right mentality" has since overtaken all other consumer-facing products, including finance. The result is that as cryptoassets and DeFi grow, so does the breadth of their functionality, and thus, as functionality is split across multiple chains and applications, so does their complexity. Beyond a combination of hardware and software wallets, users may have to navigate multiple interfaces in order to keep track of a portfolio.

Rising to the challenge is Ambire, previously known as AdEx Network.

The team behind Ambire has launched an innovative non-custodial smart wallet to solve user experience issues and provide quick and easy onboarding for new and experienced cryptocurrency users alike. The experience is simplified with email, password registration settings and the possibility to purchase digital assets through three different methods of entry, including wire transfer and credit card.

Improve user experience

In order to make the DeFi world easier to enter, Ambire Wallet meets the needs of each user by providing a login method, so that users do not need to record their seed phrase. The platform leverages Smart Recovery to help users regain access to their accounts should they be lost. That is, wallets are non-custodial, giving users full control over their private keys and wealth. Plus, a hardware wallet or another piece of software can always be added as a signer for an extra layer of security.

While simple, the Ambire wallet also provides features for a wider range of users, including built-in transaction batching so users can save on gas fees. Therefore, batching transactions and withdrawals can eliminate some of the manual approvals that would normally be required. Additionally, traders can choose to pay for gas in the stablecoin of their choice. Today, the Ambire wallet is available on Avalanche (AVAX), Polygon (MATIC), Binance Smart Chain (BSC) and Ethereum (ETH), with a second layer under development.

Ambire has raised a total of $3 million in private funding rounds including Launchub Ventures, Ascensive Assets, Metacartel Ventures and Zee Prime. As for their advisors, Ambire recently joined former Bitcoin.com CEO Danish Chaudhry as one of their angel investors.

paving the way for future development

Reflecting on the team’s progress, Ambire’s CEO Ivo Georgiev said:

"The recognition for Ambire Wallet is incredible for our talented development team who have worked tirelessly to bring DeFi exposed wallets to the masses. This funding will help us build and market our feature-rich wallet , which we strongly believe is desperately needed in the crypto market. The funding will also be used to expand the team, incentivize integration, and provide liquidity for our native token on decentralized exchanges.”

Early platform users are already participating in the ongoing airdrop and are rewarded with upcoming WALLET tokens. As 2022 brings mobile app and credit card releases, the community can expect WALLET token liquidity pools (LBP) to also appear on Copper.