Crypto Transactions can now be Automated Thanks to MyCrypto
MyCrypto has introduced an interesting new feature that helps investors stay on top of future investments.
In a statement made on Twitter on the 18th of September 2018, it was revealed that MyCrypto now supports a reminder of sorts for their investments. The ETH ‘alarm clock’ helps investors schedule their investments ahead of time.
Great for subscriptions (future), scheduling payments for employees/bills, or to setup sending ETH for an ICO/STO
— Tom Shaughnessy (@Shaughnessy119) September 17, 2018
MyCrypto is a free client-side interface that gives investors the power to control their investments by interacting with blockchain directly. It also allows investors to be in control of their own keys and wallet.
MyCrypto, created by the co-founder of MyEthereumWallet, allows multiple wallets to be connected to one another and is an ERC-20 supporting wallet.
This new feature can be used in a number of ways including letting investors schedule to take part in an ICO ahead of time. Other uses include sending funds, making transactions ahead of time or acting as a simple reminder of tasks.
A Collaboration of Sorts
This new feature is the result of a collaboration between MyCrypto and Chronologic, a company aimed at creating more smart contacts for individuals. This new development is a step in combating a common problem faced by investors regarding time.
The project has already received praise from both the co-founder of MyCrypto and the co-founder of Ethereum. Now all that is left is to gauge user response over the next few weeks.
There were some initial concerns about the safety of delegating tasks ahead of time but the team that developed this feature have stated that there are no risks involved.
According to them, the code used for the reminder has been well audited to prevent failed or delayed transactions. The feature is also insured with EDDCs.
A New Way of Doing Business
For a long time, investors in cryptocurrency have faced the challenge of staying up to date with transactions, especially since the word of cryptocurrency happens in real time.
By having a feature like this, investors can save themselves time and energy. Investors can participate in ICOs, even if they are taking place in another part of the world with an inconvenient time difference.
Establishments that pay their employees in cryptocurrency can also schedule payments tot hem ahead of time with ease.
This goes a long way towards making the crypto work easier to navigate for investors.