Alluma launches its Android app featuring a market-first portfolio management tool

Alluma has launched its mobile Android application which is now live on Google Play Store. The app follows the successful launch of Alluma beta in July 2018 as a desktop application, which offers nine advanced order types useful for managing trading risk and taking advantage of market opportunities, along with a superior order book liquidity and trading fees as low as 0.1%. Users signing up through both Alluma’s desktop platform and Android app can trade cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Etherparty’s FUEL token. In addition, Alluma is also currently working on its iOS app for Apple smartphones, which will be available in Q4.

India is a key target market for Alluma, considering there are 360 million smartphone users expected to emerge in the country by the end of 2018, with 90% of them using Google’s Android operating system. Digital currencies are a powerful technology, but its benefits cannot reach the people unless the platforms it is offered through, are easy to use. Alluma’s focus, therefore, has been on building a product that adds value to the trading experience of both beginners and experienced traders. With its aim to establish itself as the most trusted cryptocurrency exchange in the Indian subcontinent and Southeast Asia, Alluma’s Android app has been launched after several months of rigorous product development and testing.

Boasting a simple, intuitive and user-friendly interface, Alluma’s Android application promises a smooth and hassle-free trading experience to Indian traders without the issues encountered on existing Indian exchanges. One of these is the problem of slow, convoluted signing up procedures, which Alluma addresses by allowing users to upload their photo IDs and documents directly to the app, offering the benefit of a quick, easy, and paperless end-to-end Know Your Customer (KYC) process.

Commenting on the launch of the app, Akash Aggarwal, Founder and CEO, Alluma, said, “The emphasis for us, throughout the entire product development process, has always been to make Alluma easy to sign up on and use for traders. Our Android app has been built keeping this in mind to offer users a seamless functionality through a simple, intuitive interface. A mobile-first approach to facilitating trading of cryptocurrencies is crucial to on-boarding both experienced as well as beginner traders, who often prefer mobile apps to sign up and start trading. Although a desktop version is an important tool for top traders dealing in large order volumes, our mobile app provides users with the ability to manage simple buy-sell trades, monitor their portfolio even while on the move with our special portfolio tool, and carry out frictionless crypto deposits and withdrawals.”

One of the key features of Alluma’s exchange is an advanced portfolio management tool that allows users to check their overall coin portfolio and individual coin wallets in a fiat current equivalent like INR, USD, etc. This allows users to stay on top of their portfolio value, by being able to view real-time feeds on coin prices. The app also allows users to seamlessly buy and sell one crypto asset for another. For example, users can instantly sell Bitcoin and buy Ripple, or sell Ethereum and buy Bitcoin. Furthermore, to enable traders to receive coins from another exchange, each Alluma coin wallet is provided with a clear and  unique address.

Jonathan Lavercombe, Chief Marketing Officer, Alluma commented, “Our portfolio tool has received some great feedback so far from our desktop users, which is why it’s the most prominent feature on our new mobile app as well. Traders typically have a portfolio of coins or tokens which they want to track and check the current value for in terms of fiat currency (i.e. INR, USD etc.). Our tool gives them this information through a well-designed interface that provides real-time feeds on coin prices, along with the balance for each coin in their portfolio, as well as the total portfolio value”