Recently I have been a bit concerned with regard to how investors in main land China will be able to Purchase Crypto-Currencies since the multiple bans from their government.
The good news was that using WeChat pay and Alipay they can reinvest using Hong-Kong Exchanges (such as Kucoin) but now the news has further strengthened their avenues by the fact that Square and Line Corporation are adding cryptocurrency options and services to their current payment apps and similarly a company called "Cheetah Mobile" that already provides mobile security products such as Clean Master and Security Master, and currently claims that more than 100 million customers use its products daily is moving into the crypto space.
Chinese mobile app company Cheetah Mobile has announced its entry into the world of cryptocurrency wallets.
Launching its new "SafeWallet", the firm says the so-far Android-only wallet app is designed to be user-friendly, allowing customers to easily manage their cryptocurrency investments, an iOS version is stated to be following soon. This will aid Chinese residents in trading in a decentralized manner form one civilian to the next in a manner similar to the way bitcoin was traded in its early days (i.e I can go and pay cash to a trader to directly transfer into my wallet in real time in a COD manner).
With SafeWallet app users can send and receive cryptocurrency , create multiple wallets and import wallets in a variety of formats, a recent statement form the company has stated. The application currently supports bitcoin and ethereum, with more cryptocurrencies to be supported within the next two months,
This company "Cheetah Mobile", which specializes in security app products, states that "SafeWallet employs a unique three-tiered security defense system that protects users in three key areas, including user behavior, phone security and asset management to provide maximum protection for users' digital assets and prevent them from being lost or stolen."
The company is adamant to let its users know that SafeWallet does not access users private key, or initiate transactions on their behalf, I suppose to build user confidence.
In my opinion I hope that this app is all that its promised to be to ensure that Chinese Crypto enthusiasts have a means to keep trading crypto-currencies.