From now henceforth, the tracking of various digital currencies will become significantly more accessible due to the inauguration of the Coin Master app. The application, a creation of the Beijing-based Cheetah Mobile, will be available on both iTunes and Google Play Store, the leading smartphone app stores in the world.
Primarily, the app is designed to keep tabs on the latest developments regarding the market value of cryptocurrencies. It has the capability of simultaneously assessing the prices of digital assets from 100 trading platforms. In addition to tracking, Coin Master automatically calculates the overall profits or losses made by a particular trader after they update their transaction history.
To update the portfolio of digital assets, investors can use either of the two available options. The first method involves the manual input of trading information, including transactions involving fiat money.
On the other hand, the second option prompts the user to synchronize the application with their preferred cryptocurrency trading platform or digital wallet. According to the executive VP of Cheetah Mobile, Edward Sun, Coin Master enables crypto investors to track their investments regardless of time and their current location.
Cheetah Mobile is an established app development firm which is also listed on the New York Stock Exchange. Before adopting its current name, the company was known as Kingsoft Security, a subordinate of the Kingsoft Corporation. Kingsoft is among the leading tech giants in China, and its VC is a co-founder of Xiaomi, another prominent Chinese electronics manufacturer.
The Coin Master launch comes after the inauguration of a smartphone-oriented cryptocurrency digital wallet by Cheetah Mobile earlier in 2018. Besides these two, a similar app for tracking the performance of virtual currencies was established by Tong Huashun, traditionally a stock tracking solution. It, however, has since been brought down due to the unfavorable regulations imposed on cryptocurrencies by the Chinese government.