The BTCC company launched a new mobile app called “Mobi” for both Android and iOS users. The China-based bitcoin company was started back in 2011 and
The BTCC company launched a new mobile app called “Mobi” for both Android and iOS users. The China-based bitcoin company was started back in 2011 and mints physical bitcoins, as well as operating a trading exchange online. The recent announcement will now see it enter the mobile payments market.
The payments app was launched with the aim of taking the digital cash mainstream. The new platform will offer users a wide variety of features like a Visa bitcoin debit card and sending bitcoins through text messages. This new platform (a multi-currency mobile wallet) will enable users to store their bitcoins and enjoy conversions of over 100 currencies including silver and gold. Users will not have to undergo any registration process. The multi-currency wallet enables them to use their own phone numbers to register. Additionally, the new app will also enable customers to transfer all the currency it supports via Twitter and SMS.
Bitcoin Debit Card
The fresh mobile application comes with an option of using a debit card that users can load with bitcoins and use it in places where Visa is accepted. Immediately after users install the new app, they can order for the Visa card by choosing the “Mobi Visa Card” option on the main tab. This card operates in a similar manner with other bitcoin debit cards from the competitors e.g. Bitpay card. This app is different from Xapo in that it supports more than 100 currencies and hence if there is money in a user’s USD card it is deducted to cater for the purchases. If there are no funds in the USD wallet, then the user’s bitcoins will be automatically converted into USD whenever they use their card. This debit card can be used at most points of sale as well as for making withdrawals in various currencies via ATMs across the world.
What Makes Mobi App Distinct?
According to BTCC CEO Bobby Lee, Mobi is the only app that focuses on ease of access by allowing instant conversion, transfer and storage of over 100 different currencies. These currencies include the British pound, US dollar, bitcoin, the euro, gold and silver. The Mobi accounts are also linked to the mobile number and all that a user needs is a smart phone to transfer funds to more than 2 billion smartphone users in the world. The app does not require a user’s email, password, two-factor authentication or username, the owner of the mobile number owns the coins in the wallet. The transfers are effected through Mobi’s private blockchain. The new app also supports transfer of bitcoin on the bitcoin public domain.
Will SMS and Twitter Integration help in Promoting the Adoption of Bitcoin?
In the past, other platforms attempted to incorporate their bitcoin transactions using text message services and Twitter. However these attempts were futile or gained little success. Circle Financial, a bitcoin company, is a good example. It offered the bitcoin texting feature via iOS Messenger application. However, it terminated its buying and selling services on the platform and bitcoin users stopped using it. BTCC however, believes that its SMS and Twitter integration will help the mainstream adoption to take off.