“I had to delete apps like Blockfolio and Coinmarketcap, I’d get insanely little done from refreshing 30x a day.”
Does anyone trade like me – using Blockfolio but at the same time checking the Coinmarketcap, following the “influential” Twitter accounts just with the fear of missing important information? That was me till I downloaded MyToken.
Launched in August last year, MyToken has grown into the most popular cryptocurrency portfolio management app among the Chinese community, with over 400,000 users and more than 150,000 active users on a daily bases.
I thought in the first place, MyToken is another Blockfolio or Delta. However, my thoughts have changed when I started to use it. MyToken App is actually a one-stop service cryptocurrency management platform different from Blockfolio.
Expect for the common functions of tracking the price movement of more than 2000 different cryptocurrencies from up to 300 exchanges, MyToken App also provides complex and powerful analytical tools which are including:
- Candlestick charts, trading volume and deep data for 70 major exchanges;
- A built-in Wikipedia for every cryptocurrency;
- Real-time announcements of the main exchanges;
- A broadcast board of the most-followed Twitter accounts；
- Investment guide for the crypto newbie.
But is that all? When it comes to the actual trading practice, there are some more things to settle:
“ I have accounts open with almost 10 exchanges. And participating ICO can be more tedious. Projects are listed on different platforms and each recommends a specific wallet.”
I’m glad to find out that MyToken is going to solve my problem with an integrated cryptocurrency investment service, applying blockchain technology and issuing its own token, called MT.
MyToken will connect with exchanges to enable direct cryptocurrency trading. By providing a unified KYC certification, users could trade on the MyToken App without login to different exchanges. MT will be used for paying the exchange fees.
Oversea ICO Platform
Oversea ICO Platform will enable investors to directly participate in the global ICO projects through MyToken App. Listing fees will be paid with MT.
Advertisers could obtain targeted audiences and audiences will be able to choose whether to accept the ads. Advertising fee will be paid with MT. Also, MT will be awarded to audiences based on the value of their attention.
In addition, a Dapp Store for blockchain projects will be released and a UGC system to assure high-quality investment-related content will be built in MyToken App as well.
How valuable is the MT coin? To answer myself, I took a look at MyToken’s main business models:
The advertising value of MyToken at this moment is around $900,000-$1,800,000 on a monthly basis, which will continue to increase as users grow.
Aggregated transaction service fee
Exchanges are the biggest winners of the cryptocurrency boom. MyToken will monetize traffic by connecting to various exchanges. A fun fact: In the first half of 2017, China’s largest cryptocurrency ticker app profited $6 million revenue in three months by importing traffic to a well-known exchange at that time.
Project issuance service fee
The ICO fundraising platforms normally charge a 4–8% service fee for each project listing on it. By providing a platform connecting to a wide range of ICO projects, MT token will be used and required for receiving the services.
Aaron Chen from Spectra Ventures & Advisory, the advisory team for MyToken says:
“MyToken App will become an aggregation point for the blockchain investment world, with its high-frequency user behaviour design.”
Aaron further adds:
“Blockchain technology in the next 3–5 years will be a unilateral rising market and MyToken could hit a profit of millions of dollars on a monthly basis. Using the net profits, MyToken will buyback MT token to reduce it by at least 4 billion, which gives a great room for MT value growth.”
MyToken is the first ever cryptocurrency investment tracking platform launching its own token. As I enjoy using the App, I could see MT be one of the long-term investment considerations.
About Spectra Ventures & Advisory
Spectra Ventures & Advisory is a blockchain and cryptocurrency consulting company under the Spectra Group. They bring their enriched experience across industries and countries to practice professional advisory services for clients around the world.
For more details, Click here!
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