The world of finance is starting to evolve towards new systems and services being used, as well as the mobile space being explored by various companies. Even though Bitcoin has been available on mobile devices since day one, popular Bitcoin exchange Huobi thinks there is still room for improvement in this area. Rather than sticking to the Chinese crowd, the company hopes to expand the presence in the Western world as well.
Mobile Withdrawals and Deposits for Bitcoin Trading Purposes
It is no secret that most Bitcoin users carry one or multiple smart devices on them at all times. For most this will be a smartphone with internet capabilities, which will usually include one or multiple mobile Bitcoin wallets installed on the device itself. In fact, most Bitcoin users wouldn’t mind being able to trade BTC on their mobile device, without having to use cluttered mobile exchange websites to do so.
This is the type of user market Bitcoin exchange Huobi is exploring. Their new mobile app allows users to deposit, withdraw and trade funds with a few taps of the screen. It is interesting to note that Huobi’s mobile app has been released for both iOS and Android users at the same time, which indicates the company is taking their mobile strategy very seriously.
Yet at the same time, the move by Huobi is a bit of a curious one. Mobile device security is far from top notch, and even though most people have at least one mobile device at their disposal, they don’t necessarily view it as a trading tool. To counter that statement, Huobi officials see a huge potential in the mobile market, especially where Western Bitcoin traders are concerned.
Exchanging Bitcoin to and from fiat currency is only one aspect of what Huobi’s mobile application will offer its users. Having the ability to verify your account through a mobile app is an unprecedented experience in the Bitcoin world. Plus, users will receive professional price alerts and real-time market updates through the app itself. Last but not least, both CNY and USD fiat currencies are accepted for all features, making Huobi’s app the first mobile multi-currency Bitcoin trading app.
That being said, Huobi admits there is some stiff competition to keep an eye on. Mobile Bitcoin applications are nothing new under the sun, and there is a lot of competition in the market for trading and market information applications. However, Huobi is combining the best of both worlds, along with additional exchange features, to their mobile application. Plus, all of the mobile app’s features have been developed in-house, giving Huobi a leg up over their competitors.
Huobi Is Expanding To The Western Market
Huobi is a respected Chinese Bitcoin exchange, but the company isn’t resting on its laurels. Rather than sticking to the business they know, Huobi wants to expand their businesses on a global scale. The first major hurdle to overcome is getting Western Bitcoin enthusiasts to use the exchange for their trading needs.
Whether or not their mobile application will help the Bitcoin exchange gain more traction in the Western world, remains to be seen. There are a lot of people active in the Bitcoin trading business, and there has been no one-size-fits-all mobile application available to traders just yet. Huobi may have struck paydirt by releasing their mobile app on the two major mobile operating systems at the same time, as well as making it available to the entire world from day one.
Source: Press Release via Email
Images courtesy of Huobi and Shutterstock