Business 17 July 2018

Erik Gibbs

Poloniex exchange launches mobile trading app

Cryptocurrency traders in the United States now have more options to manage their investments while on the go. The Poloniex exchange has launched an official mobile app, allowing users to track the markets more easily wherever they are. The app is available for both Android and iOS platforms and is available for immediate download.

Goldman Sachs-backed Circle, which owns the exchange, made the announcement via a blog post. While there have previously been third-party applications available for use with the exchange, this is the first—and only—mobile app supported by Poloniex. This gives users a certain level of confidence that their information will be more secure and held in one place, and not shared with third parties.

The new app offers a variety of features, with more to be added as development continues. With the first iteration, users are able to access real-time market updates and create price alerts, manage individual coins and view charts based on different intervals, such as day, week or month.

Direct trading is also possible with the iOS version (no mention was given as to when the feature would be available for Android devices). To begin trading, users must first create an application programming interface (API) key from the desktop site. Assistance for how to create the key is available through the mobile app under the Accounts submenu.

Circle acquired Poloniex in February in a deal reportedly worth $400 million. The purchase helped to boost Circle’s image, which had suffered following a Bitcoin (BTC) divestiture in December 2016. The company decided to remove BTC as an option from the Circle Pay app and the result was extreme backlash from the crypto community. Poloniex has helped Circle turn around public opinion somewhat and the financial company’s stance in the community has picked back up.

Despite the reversal, Poloniex users have reported issues in recent months that have begun to make confidence in the exchange falter. When the exchange became inundated with new users during the second half of last year, it resulted in a variety of technical problems and outages. Those obstacles, coupled with a customer support department trying to keep up with demand, have hurt the company’s image lately. The introduction of its new mobile app could assuage the ire of users.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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