The mobile payments app Ubank will be pre-installed by the South Korean company LG Electronics on its smartphones, which will become gradually available in various world markets. The Ubank app is already pre-installed by Samsung in 10 countries. The users of LG phones will also have access to the Ubcoin Market, which is an eBay-like blockchain platform developed by the Ubank team that enables people to acquire cryptocurrency in exchange for real goods.
Ubank, the leading mobile payments app in Eastern Europe, announced that it has signed an official agreement with LG Electronics stipulating that the app will be pre-installed on LG smartphones. That means that all the users of LG phones will join the users of Samsung and Fly smartphones that have the Ubank app pre-installed on them. LG users will also be able to pay for any services and transfer funds instantly. The first batch of the manufacturer’s devices featuring Ubank as a pre-installed feature will come into the market on September, 2018.
The users of LG phones will also have access to the Ubcoin Market, an eBay-like blockchain platform developed by the Ubank team that would help people acquire cryptocurrency in exchange for real goods. Ubcoin Market utilizes decentralized technologies to create an easy-to-use tool that solves problems of people wishing to enter the world of crypto investments in a hassle-free manner.
Ubcoin additionally is useful for experienced blockchain market participants in need of a convenient method of spending their crypto wealth. Ubcoin Market will become an integral part of the Ubank app by the end of 2018. Currently, Ubcoin Market is conducting its public token sale during which the project has already raised substantial funds from private and institutional investors, including the Inventure fund and the Singapore-based Amereus fund.
Anastasia Solovyova, LG’s Marketing Manager says:
“We are excited to become partners with such a successful project led by a talented and experienced team as Ubank. We are sure our users will be excited, too, — be it those who merely want to have a convenient mobile tool for checking balance on all of their cards and quickly conducting any of their day-to-day financial transactions or those who want to be on the cutting edge and enter the world of cryptocurrencies”
Felix Khachatryan, Ubank’s and Ubcoin Market’s CEO says:
“We are thrilled to have our app pre-installed on the devices produced by LG Electronics, one of the largest smartphone manufacturers in the world. This partnership is doubly important to us because LG, as a South Korean company, is willing to provide its deep insight into different national markets of the Asian continent, which, undoubtedly, will facilitate our future development in the region. We consider the partnership with LG as a logical and inspiring step after the successful long-time partnership with Samsung”
Ubank is planning to start Ubcoin Market’s expansion into the Asian market during the 2nd and 3rd quarters of 2019, and the partnership with LG will be highly valuable in that respect. LG smartphones featuring the pre-installed Ubank app will become gradually available in various world markets, including the Asian countries.
Earlier this year, Ubank received investment from the Singapore-based VC fund Amereus Group for the promotion of Ubcoin Market in the booming Asian market. By the end of 2018, the project is planning to open offices in Singapore, Hong Kong, and Seoul to implement the market launch strategy of the peer-to-peer ecosystem in the region.
Ubank is the leading mobile payments app in Eastern Europe that has been operating since 2009 and, as of today, has 2.5 million active users, more than 16 million downloads around the world, and has been pre-installed by both Samsung and Fly. The Ubcoin Market will become part of the Ubank app as a new feature.
In 2013, Ubank received an $8 million investment from Runa Capital, in April 2018, an undisclosed amount of funding from Inventure Partners, and in May 2018, an undisclosed amount of funding from Amereus Group.
To learn more about the vision and the structure of Ubank visit https://www.ubank.ru/.
To learn more about its global blockchain goods-to-crypto exchange platform Ubcoin Market visit https://ubcoin.io/en
To know more, click here!
Subscribe to AMBCrypto’s Newsletter
Industry player Fumgo gives 5 tips on how to trade cryptocurrencies
Look, you could have bought one bitcoin in April for $4,000 and sold it today for $8,000.
It sounds like an easy way to earn money, right? The crypto trading, however, isn’t that simple. In fact, the always-changing price, high stakes, and online scams make it also dangerous for those who know little about it.
So when you take risks for rich rewards, make sure to follow these tips:
1. Use reputable exchanges
To trade cryptocurrencies, you go to exchanges, internet platforms that help buyers and sellers meet.
But high market demand brought in a number of phony exchanges. You must keep an eye out for them and make sure you use only reputable ones like Bittrex, Huobi Global, OKEx, HitBTC, or Binance.
There are also trading terminals like Fumgo. The terminals let you trade across multiple exchanges — including the ones mentioned above — from one interface. In fact, it’s even safer to use them, because they offer two-factor authentication when you log in, unlike exchangers.
2. Learn from professionals
Crypto trading is a job. You need to monitor the price movements and make decisions. This is hard to do without knowledge about the market.
Find real traders and learn from them. Some of them post videos on YouTube.com, others publish articles. It takes time, but it’s well worth it.
At this stage, beware of scammers who have never traded cryptocurrencies but promise to teach the craft. The internet is full of free tips, but these “experts” sell them as professional knowledge.
There’s a way to shortcut the learning curve: the Fumgo terminal has a feature that allows mirroring the traders. If you switch it on, it will make your account copy the actions of chosen professionals automatically. The system verifies them — only true pros allowed.
3. Practice with small sums of money
Seen enough and feel confident? Then it’s time to practice. But don’t rush, start with small investments.
The cryptocurrencies rates change unpredictably, so invest the amount of money that you wouldn’t regret losing. Practice as much as possible this way and when you manage to earn regularly, raise the stakes.
4. Stick with one strategy
Every trader has their own style. Copy one and stick with it for some time, see how it goes. If you change your strategy too frequently, you won’t be able to see the result.
Three tricks are universal, however: 1) make a limited amount of transactions per day to approach trading energized; 2) pay attention to Bitcoin, its price influences other currencies; 3) keep statistics on your transactions to understand what strategies work best.
For the latter, there’s a shortcut, too. The Fumgo terminal tracks your stats automatically and shows the history of all the transactions.
5. Trade different currencies
Bitcoin isn’t the only cryptocurrency worth attention.
The price for Monero, for example, has been changing constantly from $10 in 2017 to $100 today. At some point, it even cost $500. The same with Dash and Ethereum.
Pro traders usually devote only 5–30 percent of their capital to one cryptocurrency. Follow suit.
The easiest way to keep track of your cryptocurrencies is via terminals: in one interface, you can compare the rates of your cryptocurrencies across various exchanges and sell each where it’s most profitable. Terminals usually have subscription models: Fumgo, for example, costs $20 a month but offers a trial week and two free months for subscribers.
Subscribe to AMBCrypto’s Newsletter