One of China’s top three exchanges Huobi explains why it is looking to take bitcoin (and litecoin) trading mobile with the upgrade of its mobile app that allows users unprecedented power to trade, deposit and withdraw funds at the touch of a finger.
Huobi has released its mobile app for both iOS and Android platforms. Senior Operating Director & International Marketing Director, Liu Yuewen, and the co-founder and COO of Caimao, Gao Yaohua, explained to CoinTelegraph why mobile trading is becoming increasingly important, how it is eyeing Western users, and what the company hopes to achieve as bitcoin is experiencing a “bearish period,” according to Liu.
The new mobile app allows users to register, verify, trade, deposit and withdraw from your smartphone. You can also receive professional price alerts and real-time market updates. In addition, multi-currency trading is also supported making it the first one-stop bitcoin trading option for CNY and USD order books.
CoinTelegraph: How will a mobile trading app help Huobi’s expansion plans in China and abroad?
Liu Yuewen: As our time has become more fragmented, people tend to live their lives in a more mobilized way. The Huobi mobile app upgrade is a great leap complying with this developing trend. It enables users to trade BTC/LTC anywhere at any time and the price alert function can help traders to make the orders at a precise time. This will definitely help improve our user experience and increase users’ engagement while attracting new traders.
CT: Who do you view as your main competitors in mobile apps?
LY: The main competitors of Huobi app include the ones developed by trading exchange and the ones providing market information. Since the latter kind doesn’t allow users to trade -- which is actually a very core feature -- our competitors are mainly apps of other exchange platforms. Since Huobi app’s latest upgrade, statistics and user feedback has shown that this version is already leading in the bitcoin industry.
“We believe that the future lies in the mobile end.”
CT: Will you offer Caimao as part of the app?
Gao Yaohua: We have planned to develop a mobile app for Caimao. It'll be an independent one, not as part of Huobi app. There’s difference between Huobi and Caimao’s target group and we want to bring the very core functionalities on the mobile APP for both groups.
We believe that the future lies in the mobile end, so we would like to provide better user experience not only by developing and expanding the bitcoin application scenario, but also enabling them with full functionalities, especially on their mobile phone.
CT: Given the relatively low price right now, how do you view Bitcoin’s future?
LY: We still see a bright future of Bitcoin even though we’re experiencing a relatively hard time. The industry has witnessed several companies seek to change business to other fields and a host of senior management and co-founders once under the spotlight have left the business.
However, Huobi keeps on making great effort in raising Bitcoin awareness in public during the past year and our core team members are also very stable. We hope that the re-launch of Huobi app will be quite encouraging news for the whole Bitcoin community at this special time when BTC price stays in a bearish period. As one of the biggest bitcoin exchange platforms in China, we hold a strong faith in the prospect of bitcoin and its blockchain technology, and aim to build a safe and trustworthy exchange.