Over the past decade, the growth of the digital asset industry is unfathomable and its niche market has gone to develop an ecosystem that is highly competitive from a financial and functionality point of view. Besides exchanges and organization which facilitates various crypto services and products, the demand for analytics platform and tracking crypto portfolio is equally important in the space.
CoinStats, one of the most prominent crypto portfolio trackers in the industry provides lives prices and market activity of major assets such as Bitcoin, Ethereum etc, etc. Its efficient user-interface is extremely easy to operate as it also provides personalized news for its users. The platform also has its own dedicated wallet on the app which is bolstered with military-grade security, keeping the funds and assets of users under substantial protection.
In order to keep pace and remain ahead on the technological forefront, CoinStats recently announced the release of CoinStats V3, which had been deemed as the most important update in the platform’s history.
The organization’s objective behind the development of the V3 update is to become the one-stop-shop to manage and track everything related to digital assets.
Some of the main features boasted in the new update are listed below:
Live Price for Coins, Markets and Exchanges
The V3 update will move away from the 30-second window between market update, to instantaneous prices that would be real-time and subjected to continuous changes 24/7. The change would allow the users to track the valuation by the second so that trading decisions become more decisive and thorough.
In a recent conversion with AMBCrypto, Narek Gevorgyan, CEO of CoinStats, explained how CoinStats V3 update would make the app stand out in comparison to other products in the market. He said,
“With the newest update, we’re moving closer to our big vision on becoming one place to manage all your crypto. We’re introducing a much improved updated user experience, new trading features, a built-in wallet supporting 6 blockchains alongside with the cheapest and easiest fiat to crypto gateway inn a market. We are also allowing our iOS users to purchase Bitcoin and 3 other cryptocurrencies with Apple Pay. We’re planning to put more efforts in fiat to crypto conversion, and expand it to much more cryptocurrencies and regions.”
Purchase of Coins
The update is also introducing the option to buy crypto on the app itself, which brings forward a completely new aspect for the CoinStats users. CoinStats has undergone an integration with wyre system, which allowed the app to facilitate the sale of coins from the coin page with the help of Apple pay or Debit Card. However, the aforementioned functionality is only available for US based customers at the moment and the organization reported that it would increase its support for more countries over the coming months.
With the new update, users will have access to create their own wallet and store their crypto purchased from the platform. In the interview, AMBCrypto queried Gevorgyan about the security measures taken to protect the privacy of the wallet. The CEO stated,
“While creating a built-in wallet inside the app all we had in mind was simplicity and security. It is connected to your CoinStats account and protected by 4-6 digit pin. You can easily make transactions by sending funds to your connected other wallets and exchange accounts by one click without copy-pasting the addresses.”
Additionally, He mentioned,
“As for the security, we’re using a great startup https://arkane.network for our wallet infrastructure. They have passed dozens of pen tests and it is safe to say they are 100% secure. It is a mix of the custodial and non-custodial solution, although the wallets are technically being stored in servers but even in a case of full server leakage, the hackers won’t be able to access individual user funds.”
Users will also be able to manage multiple digital assets, maintaining a diverse crypto portfolio within the app, making the process extremely convenient for investors and traders.
Chart enhancements and much more
The V3 app will also include the ability to track the volume of different assets that would be added to allow identification of possible bullish or bearish sign an easier task from the app itself. The new UI will also include the option of dark and light mode, which can be set on to Auto as well, as the app adapts to the time of the day.
Speaking more on the topic of facilitating online purchases through Apple Pay and Debit Card, it is important to note that currently, only U.S based users have access to that feature. In terms of developing a greater reach and planning its demand in the future, Gevorgyan revealed,
“We’re thrilled to add more regions, more coins and make the limits higher with our partners sendwyre.com. On top of that, we’re planning to integrate more fiat to crypto partners from all over the world to be able to show the user the best option based on his location, preferred payment method and the amount he wants to buy.”
One of the key aspects that is mentioned in the update is the non-requirement of KYC in the app, which is usually a standard protocol for other platforms to verify user information. Clearing the concern with regards to KYC, the CoinStats CEO explained that the requirement of KYC is not mandatory right away because the addition of Apply Pay as a payment method already contains necessary KYC information. However, he stated,
“Although, in a future, for higher limits, we might require KYC, which you will be doing once and you will be able to use in multiple fiat to crypto gateways and exchanges.”