The Best Apps to Buy Bitcoin (BTC) and Trade Crypto
A crypto bull market may finally be upon us as the 13-month long bear market looks to have finally given way to a surge of new buying interest.
The new money has driven a notable rise in Bitcoin (BTC), bringing in the leading digital currency to just under $9,000 for the first time in over a year. As a result, the mainstream media have, unsurprisingly, started to focus on the cryptocurrency space as a reasonable location for investors to plant a percentage of their capital.
One major difference between the current bull run and past bull runs is that the infrastructure has vastly improved, both for institutional and retail investors. For retail investors, it’s useful to understand the numerous secure apps and platforms where you can purchase bitcoin, which can ultimately prevent some of the more common early mistakes new crypto investors make.
Here are several of the best apps for buying and selling crypto:
Supported Coins: 13
Undoubtedly the most widely used and trusted application to purchase cryptocurrency. The $8 billion company has led the way since the beginning, offering investors with a sleek app interface that makes purchasing their first crypto as easy as a few clicks.
While Coinbase is exceptionally straightforward to use, the platform does have fairly substantial fees and some restrictions based on the payment method and level of KYC completed. If you can get over both of those hurdles — or are willing to pay with a debit card — then this may be the app for you.
Supported Coins: 18
As the new kid on the block, Voyager had to make a significant splash to grab the attention of both retail and institutional investors, and they did just that with there rapid deployment in 2019.
The company launched its iOS trading app in February of this year with a signup bonus of $25 in Bitcoin. The app, which features a slightly longer list of altcoins than Coinbase, currently offers zero-fee trading, however, holdings on the app aren’t withdrawable to outside wallets as they are derivative products, like on Robinhood.
Supported Coins: 17
If you’re a millennial investor, then you’ve probably already downloaded Robinhood, the popular commission-free trading app for stocks, options and now, cryptocurrencies.
The app offers much of the same crypto functionality found on other popular platforms with the added bonus of combining your digital assets with your equity portfolio. The company is currently building out new functionality in terms of its crypto offerings, which includes adding new currencies and providing “wallet functionality.”
Supported Coins: 30
Abra, a non-custodial cryptocurrency wallet and trading platform, has been competing with the likes of Coinbase for some time now. The app started as a simple way to trade derivative products (like Voyager) and has quickly evolved into one of the safer places to buy and sell crypto as users control their own private keys.
The company recently announced that it has added native support for 16 new altcoins, including DigiByte (DGB), Dogecoin (DOGE), DASH (DASH), Basic Attention Token (BAT), and NEO (NEO). This means you can buy and sell real versions of these digital currencies, all from the comfort of the secure app.
Supported Coins: 1
For those just looking to pick up some bitcoin, then Square’s Cash App might be the place for you.
The Jack Dorsey-led payment app has been gaining a reputation as one of the better places to buy bitcoin. While it lacks much of the investing functionality of the other apps on this list, it does include Venmo-like payments that make it useful in its own right.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.