If you have invested money in an ecurrency such as Bitcoin or Litecoin, you are probably aware of the fact that the price of a coin can swing a lot in a matter of minutes. We have seem Bitcoin drop from an all time high of more than $1200 to less than $600 in a matter of days.
That may not affect you that much if you bought Bitcoin when you could get one coin for a Dollar or less, but if you bought individual coins for an exchange rate of a few hundred Dollars, or even more than $1000, then you may want to stay in the loop in regards to all price developments.
While you can use a site such as MtGox (for Bitcoin) for that, or Bitcoin Charts if you are interested in more than one ecurrency, you may want to use an application such as BTC-e Watch on your Android phone to receive alerts the second the price drops below or rises above a set threshold.
The application displays the current exchange rate for ecurrencies such as Bitcoin, Namecoin, Litecoin or Novacoin in its interface on start. The value in USD is displayed, as well as the change in Dollar and percent.
Here you can also tap on any currency to display the last orders recorded by exchanges.
What makes the app special is that you can add up to four alerts. You can set a lower and upper threshold for each currency, and will receive alerts whenever the selected barrier is broken.
If you own the currency, you may use the information to sell it at the right time, and if you want to buy, you can use the information as well to buy it at a price you feel comfortable paying for it.
You cannot use the application to buy or sell Bitcoin and other virtual currencies though. All that it makes available is the ability to monitor the price development.
Regardless of that, it can be a useful for traders, people who have invested in Bitcoin, and everyone else who is interested in monitoring the development of those supported ecurrencies.
BTC-e Watch is a useful application for people who have invested money in virtual currencies, and others who are interested in doing the same. It may be the ideal companion app for apps that enable you to buy and sell Bitcoin and other currencies, such as Mt.Gox's mobile app.