Bitcoin is one of the hottest investments in the market, and it shows no signs of slowing down. At present, it has reached an exponential growth over the last couple of years since its founding. The current value of Bitcoin is at a 5-figure price per stock, which could mean that the earliest investors have earned millions through this blockchain investment.
The Future of Stocks
What does the rise of Bitcoin say about the future of stocks? Will physical money be replaced by cryptocurrencies in the long run? Time only can tell, but we can see this trend continuing to rise over the last couple of years. If you are a serious investor who wants to be ahead of the game, it is better to start investing in Bitcoin as early as now.
Benefits of Investing in Bitcoin
What are some benefits of investing in Bitcoin?
1. Increasing establishments accepting Bitcoin
Due to Bitcoin’s rise in popularity, more establishments become aware of the new currency and have started to accept these digital payments.
2. No tax on purchases
Bitcoin transactions are discrete, so there is no middle-man to watch over these payments. Therefore, there are not taxes issues with Bitcoin purchases, which means more money in the pockets of buyers and sellers.
3. Mobile payment systems
Bitcoins are accessed through the use of a mobile device. This makes sure that your Bitcoin transactions are secure. Unlike cash and credit cards which can be stolen or lost, Bitcoins exist in a virtual space and there are lesser chances for security to be breached.
Mark Polelle, a California-based developer for blockchain startup companies, suggests these top 3 apps in investing Bitcoins for beginners.
A Review of the Best Beginner Investing Apps That Allow You To Get Your Feet Wet With Bitcoin Stocks
What is Coinbase?
Coinbase is considered one of the most known Bitcoin exchange apps and wallet software available. This company based in San Francisco, California, has over 7 million users worldwide as of 2017. Coinbase is generally beginner-friendly, and a common choice for investors who are new to the cryptocurrency technology.
The Coinbase app allows the storage and purchasing of Bitcoins with its easy-to-understand interface. Additionally, Coinbase can also handle transactions for other types of cryptocurrencies such as Altcoins and Litecoins. If you want to purchase Bitcoins using this app, you can easily integrate a bank transfer or credit card account. Coinbase is also accessible online if you prefer to have a more customized interface aside from using your smartphone.
“My experience with Coinbase is generally good,” Mark Polelle explains. “However, that didn’t stop me from finding if there are any bad user experiences with this app. I found out that some accounts were closed or frozen for supposedly anti-money laundering measures. If you plan to use Coinbase, be aware of your transactions as they can keep track of these cryptocurrency exchanges to some extent,” he adds.
What is Blockfolio?
Blockfolio is one of the best apps to use if you have a diversified profile of cryptocurrencies. If this will be your investment strategy in the future, using Blockfolio will be the best choice of the three.
Blockfolio permits their users to see the value of over 800 different digital currencies. They can see the record entry and exit levels and the amounts exchanged for each transaction. This gives users a strong insight on which digital currencies are best investing on. They also provide an in-depth information of your favorite digital currencies and latest news about each one.
Since they provide an in-depth information about transactions, you can expect Blockfolio to also track your own exchanges within their app. If you are someone who worries a lot about security and privacy, this app may not be suitable for you.
What is zTrader?
zTrader is a known Bitcoin trading app but is more targeted for intermediate and advanced users. What’s notable about this app is its flexibility as it can allow exchanges across different currencies all in one smartphone app.
zTrader is very flexible in terms of transactions. Although it supports only 17 digital currencies at present, it charts the best ones and provides technical analytics tools to help users gain insight on which currencies are best to trade at particular times. Additionally, there are also chat rooms provided in this app that can help investors form a community and seek advice from fellow traders.
This app may be a little difficult to understand for beginner investors. If you are patient with a slow learning curve, then this can still be an app you can start on. This app is only available in Android as well.
With the rise in cryptocurrency investments, there will surely be more programs available for interested users. Nevertheless, it doesn’t hurt to try investing using these top 3 digital currency apps.