Before 2009, the term Bitcoin was unheard of. If it appeared anywhere, could be in Satoshi’s diary but was still his secret. Since its launch in 2009, this Cryptocurrency has seen tremendous developments. The advancements are aimed at creating trade convenience and of course to ensure maximum profits.
In the beginning, Bitcoin trading was only possible over the web on computers. Today, the company has considered ever-increasing smartphone users. You can conveniently trade Bitcoin on your phone using trading apps or from the browser.
Today, there are thousands of Cryptocurrency trading apps available for download on the Google Play Store and App Store. The high number makes it challenging for you to determine the best Bitcoin trading applications. To come to settle on the best trading application, you need to look at some factors among them. These factors will help you eliminate the inferior ones with ease.
Factors to consider when selecting a Bitcoin trading application
To make the selection process easier, it is good to look at them individually to see whether they satisfy the minimum requirement of a good trading app. Below are the factors to keep in mind while selecting the best Bitcoin trading application:
To trade Bitcoin profitably, you need several trading pairs. These will give you more trading chances and hence increase your profit. A great trading app should offer many trading pairs. If an app supports crypto to fiat trading or stable coin pairs, you may consider it for your trading activities. Such an app helps you to hedge your investments when prices experience a sharp drop.
Security and reliability
The increase in the value of Bitcoin over the years attracts both traders and hackers. As traders struggle to make a profit, hackers are spending sleepless nights to steal your hard-earned bucks. You should first confirm that the app you use has superior security features. Additionally, it should be reliable because some apps are rogue. Developers of an app created with an ill intention end up stealing from their clients.
You are trading Bitcoin to earn money. Right? Even the Bitcoin app developers are in business. They make money by charging their customers/users some fees. Most apps will sustain their business with withdrawal, deposit, and trading charges. Your trading amount and frequency determine the worth of the fees you are charged. A good trading app should have reasonable fees that favor new traders who deposit a few dollars.
Having good trading pairs on an app isn’t enough without your orders being executed. Lack of liquidity means that your orders won’t be executed. And because Bitcoin prices keep on falling and rising, lack of liquidity will deny you the opportunity to mitigate losses or make profits.
Any legal/authorized Bitcoin trading app will ask for KYC documentation. Some simply ask for proof of residence while others will want to know your source of income. Though the information is necessary for authenticating the app users, light traders consider it cumbersome and unnecessary.
Top 5 Bitcoin trading applications
After considering the above factors, we have come up with a list of the best Bitcoin trading apps:
If you are a serious Bitcoin trader looking for a platform with straightforward pricing, eToro becomes your best option. This app is also the most popular full-featured platform for Cryptocurrency trading.
It’s among the newest Cryptocurrencies’ trading platforms in the market today. It offers an array of Cryptocurrencies to ensure the traders’ convenience in the selection of trading pairs. eToro is designed with an inbuilt social trading feature. This feature you to copy trades of other traders. This platform is also great because it offers multiple deposit options.
This is another popular Cryptocurrency trading app that was developed in 2012. This was about three years after the release of Bitcoin in 2009. It’s fully licensed to operate a Cryptocurrency exchange. It operates in over 40 states in the US and also operates in other parts of the world.
Using this app is safe and has no history of trade controversies. Their secure wallets are used by traders and investors to store their wealth. The platform is easy to use which makes it useful for new traders. The company has high liquidity to ensure instant order executions to atop losses or make more profit.
If you want to indirectly invest in Bitcoins, the Bitcoin Profit app got you covered. It is an automated trading bot that came to ensure that anyone can earn from Cryptocurrency. You don’t require any trading experience or knowledge in digital asset trading to trade with Bitcoin Profit.
Bitcoin Profit platform is free to use and offers quick withdrawals of 24 – 48 hours. Again, this platform is popular for highly responsive customer service, a free demo account, and a simple account creation process.
It is a great Bitcoin trading app for people with thigh schedules but who want to invest in Cryptocurrency. All you need is to deposit your cash and the rest is automatically done by this auto bot.
For traders who love to receive and trade with signup bonuses, this is the app to get. Crypto sites also offer Crypto Credit, Crypto Exchange, Defi Wallet, Crypto Pay, and Crypto Earn to their clients. The many products are helpful to customers who want to run their processes independently.
This company partnered with Visa to offer their customers to use of Crypto in all places where Visa is accepted. Wow! You can get cool 8% paybacks when you use their credit card. Account opening is free and takes less than five minutes.
The Cash App was designed as a peer-to-peer money transfer platform but allows Bitcoin investment. It allows you to send money and make payments. The app is very convenient and allows users to withdraw Bitcoin funds to your wallet.
With this app, you can invest in ETFs, stocks, and Cryptocurrency. It’s easy to use and that is why newbies love to use it over other trading apps. This application stands out among the most flexible and Bitcoin trading apps.
Bitcoin trading will continue to get popular day by day. Amazingly, you are now better positioned in terms of selecting the best app for your trade. We’ve also seen that you can trade without physically involving yourself in it. With an automatic trading bot, you can earn extra income and attend to your duties.
You understand the factors to consider when searching for a good Bitcoin trading app. Don’t wake up and land on any app. This could see you losing your money to fraudsters who are always looking for victims.
All these apps are wonderful because they ease the process of buying and selling Bitcoins. The convenience associated with these apps attracts more interested traders. Someone is preferring a platform he can use on their phone when relaxing during a tea break at work. When selecting an app to use, don’t just go for simplicity but also look at other factors including safety and reliability. It’s vital to look at the online reviews on each app before settling for it.
Always take time to look at several Bitcoins trading apps before you decide to use your best of the best!