The price for Bitcoin has fallen 6.4% to $7,458.11 so far on Thursday, now more than $12,000 from its peak in December. That hasn't stopped people from trading it, with over $5.2 billion in volume in the past 24 hours.
For many, there is still a question as to how and where to trade Bitcoin. Mogo Finance Technology Inc. (TSX:MOGO)(OTCQX:MOGOF) today let people know that Bitcoin trades can now happen right through their MogoAccount mobile app.
The Vancouver-based company announced the launch of its sixth product for MogoAccount, called MogoCrypto, which allows its members to buy and sell Bitcoin instantly at real-time prices at anytime from anywhere. The launch makes Mogo the first Canadian company to offer a mobile app for buying and selling Bitcoin that includes free funding transfers and withdrawals.
Mogo has already begun sending out invitations to its more than 500,000 MogoMembers to activate the new offering. The company says new accounts can be opened in a matter of a few minutes and that funding via transfers are available in about 30 minutes.
If you're from outside the country, you're out of luck, as the app is only available to Canadian residents.
"[W]e believe Mogo is uniquely positioned to bring bitcoin to the masses in Canada," said Mogo president and chief financial officer Greg Feller in today's news on the new feature.
Shares of MOGO have been pummeled with the price of Bitcoin falling, jettisoning more than 60% of their value from a high of $8.59 in November to a 52-week low today. After printing that new low at $3.25 this morning, shares have eked back up to $3.31, but are still down three cents, or 0.9%, as of 11:30 a.m. in Toronto.
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