Diversification is a key element of cryptocurrency. Putting all of one’s eggs in the same basket is never a smart idea. Huobi wants to help users diversify their assets in different ways. The company’s native wallet solution now supports TRX, which can improve adoption of this altcoin moving forward.
Huobi Wallet Continues to Expand
Any mobile cryptocurrency wallet offering needs to focus on supporting different assets. Providing support for just Bitcoin and Ethereum is no longer a viable option. Huobi acknowledges something needs to change in this regard. As such, the company is beefing up its mobile wallet by enabling TRON support. TRX holders can store their assets in this app and still control their own private key at the same time.
This addition increases the overall appeal of Huobi Wallet. It now supports seven major crypto assets, alongside stablecoins and all ERC20 tokens. It is a positive development for the company and supports of TRON. The quest for finding a convenient and versatile mobile wallet is still ongoing. More competition among such solutions will ultimately benefit the users in the long run.
This particular mobile wallet tries to cater to as many users as possible. Mobile cryptocurrency wallets are convenient, yet not as often sued to store large sums of money. Most cryptocurrency holders keep funds in their exchange wallet first and foremost. That also means they do not have control over their private key at the same time.
Further Plans for TRON
This new addition to Huobi wallet is just part of the company’s plans for TRON. There is a rumor the company is working on a new TRX bounty program. This program will incentivize users to store their coins on the exchange or in the mobile wallet. No further details about this approach are known at this time. Huobi clearly has high expectations for this particular currency at this time.
No one will deny TRON has seen significant growth in 2018. It is becoming a household name across different industries. The acquisition of BitTorrent Inc has been a big development. Additionally, the number of daily network transactions continues to increase. Figures even surpassed the 1 million transaction mark not that long ago. Combined with a booming dApp ecosystem, everything is coming together for TRON.
This is another big development in the cryptocurrency industry. Bitcoin and altcoins continue to mature in many different ways. That also means service providers need to step up their game accordingly. Huobi Wallet sets an example for other wallet providers to follow in the months to come. Diversification needs to be encouraged in every way possible.
What do you think about Huobi adding TRON support to its wallet? Which crypto would you like to see them add next? Let us know in the comments below.
Images courtesy of Shutterstock