Chinese Mobile Internet Firm Cheetah Mobile Unveils New Cryptocurrency Wallet
Beijing-based company Cheetah Mobile has announced the launch of its new cryptocurrency wallet called SafeWallet which is designed for mobile platforms. The new wallet was designed as a secure app that incorporates a three-tiered security defense mechanism as well as an interface that is intuitive so that users can easily handle their cryptocurrency assets.
Cheetah’s goal with the new wallet is to take advantage of the already existing product development and mobile security experience. The three-tier security defense system adopted by SafeWallet protects users in three major areas. These include asset management, phone security, and user behavior. This allows the app to provide the highest level of protection to the users and at the same time protects their assets from loss or even theft.
The new mobile cryptocurrency wallet is designed to support multiple cryptocurrencies. Cheetah Mobile revealed that the wallet will initially support Ethereum and Bitcoin although support for other cryptocurrencies will be introduced soon. People using the wallet will get to safely receive or send cryptocurrencies. SafeWallet goes an extra step further by allowing the user to create and manage multiple wallets. It also allows users to import wallets in various formats while also featuring an enhanced algorithm that allows it to lower confirmation and transaction fees. It also features a real-time exchange rate feature that allows users to keep track of the value of digital assets.
Cheetah Mobile’s Senior Vice President Edward Sun had this to say: “Cheetah Mobile’s move into the blockchain industry represents a significant moment for our company. Similar to our AI strategy, we are committed to staying at the forefront of the latest technological trends, and mobile asset security is an area that we believe we can have a strong impact."
The new cryptocurrency wallet does not have access to the user’s private key and this means it does not have the mandate to carry a transaction using a private key without the consent of the user. The new wallet was created by the same professional team that has offered security services to more than 1 billion users for the past five years. Security Master and Clean Master have been some of its most successful products. Cheetah Mobile’s security services are used by more than 100 million people on a daily basis to ward off malicious attacks through malware and viruses among other threats.
SafeWallet is available for both Android devices and can be downloaded on Google Play. The company plans to launch the iOS version in the near future.