bitcoin has been one of the best-performing assets in the financial market. Bitcoin price has managed to reach over 40,000 USD this year. Here is a guide on the best app for investing cryptocurrency in the United States.
Why Invest in Bitcoin?
Despite bitcoin volatility, it has remained one of the best assets in the past few years. There are several reasons why one should invest in bitcoin. Other than its historical performance, there are other reasons you can consider investing in bitcoin. These are:
- If you believe that it is undervalued.
- If you believe that it is a store of value like gold.
- If you believe that it is the future of money.
- If you believe that the currency is becoming mainstream.
- If you believe that a Bitcoin ETF will be accepted soon.
Best Crypto Investment Apps
Robinhood Crypto Investing
Is Robinhood good for cryptocurrency? The easiest platform to invest in bitcoin is Robinhood. For starters, this is a company that was started in 2013 and is currently valued at more than $5.9 billion. The company’s claim to fame is that it does not have commissions. To do this, you need to go to the website or download Robinhood app, provide a few details about yourself, deposit money, and start investing immediately. Your trades will not have any commission. Here are a few benefits of investing in Bitcoin using Robinhood.
- Easy to use platform.
- Easy to deposit and withdraw funds.
- Invest in other asset classes using the same app.
Cash App Crypto
Cash App is a relatively new app that is becoming very popular in the country. Owned by Square, the app is a viable alternative to Venmo, which is owned by Paypal. It is used by more than 15 milion Americans.
While the overall purpose of Cash App is to enable peer-to-peer lending, it recently introduced the service that allows people to buy, sell, and share bitcoin.
To use it, all you need to do is to create an account, deposit money, and then buy the bitcoin. Here are a few reasons why you might consider Cash App.
- It is becoming the most popular money transfer company in the country.
- It is owned by a reputable company with a market cap of more than $22 billion.
- It is easy to use.
- It does not charge any commissions.
Swan Bitcoin is one of the best crypto investment platforms that allow users in the United States to invest and buy bitcoin automatically using their bank account or wires. It is available in all 50 states and territories. Moreover, its corporate product, Swan Private, is available for corporations, high net worth individuals.
Some of the benefits of using Swan Bitcoin are:
- It automatically withdraw money from your linked bank account and buy bitcoin for you.
- Withdrawing your bitcoin to your crypto wallet can be done manually or via auto-withdrawal feature.
- It is an ideal platform for bitcoin Dollar Cost Averaging.
BlockFi is an American fintech platform that investors can use to save, borrow, and earn interest from their cryptocurrencies. The platform is available in 47 US states. BlockFi offers interest account, which is a savings account where users save your cryptos and earn interest instead of storing in a wallet without earning anything. The company does not have minimum balance requirements.
Coinbase has faced a lot of criticisms and controversies over the years. Some of the issues that worry some crypto investors revolve around security, privacy, and transparency.
Coinbase is the world’s largest Bitcoin exchange. Since its founding, the company has raised more than $500 million in funding and is currently valued at more than $8 billion. The company allows anyone to buy, sell, and invest in bitcoin and other cryptocurrencies easily. To do this, all you need to do is to create an account, deposit money, and buy the cryptos.
CoinBase stores your coins in both cold and hot storage. A cold storage is usually offline and usually not accessible by hackers. The company also allows you to learn aboutother cryptocurrencies and earn money in the process. There are a number of benefits of using CoinBase.
- It is the largest crypto exchange in the world.
- It is well-funded, which enables it to fund for security.
- You can invest in bitcoin slowly over time using the Recurring Buys service.
- You can manage your portfolio easily.
- Advanced charting capabilities.
Gemini Crypto Investing
Like Coinbase, Gemini is a cryptocurrencies broker based in the US. The company provides these services to both institutional and individual investors. The company is owned by the famous Winklevoss twins. To use their platform, all you need to do is create an account, deposit funds, and then start trading. Their benefits are:
- A well-funded platform.
- Easy to deposit and withdraw funds.
- Quality charting platforms.
- Invest in bitcoin and other currencies.
Final Thoughts on Best Apps for Investing in Cryptocurrency
In the US, there are many other cryptocurrency investment apps that can help you buy and invest in bitcoin. However, these are the most secure and well-funded platforms. Also, before you invest in bitcoin, you need to be aware of a few things. First, it is one of the most volatile assets, which means that its price can rise and fall sharply within minutes. Second, only use credible platforms to avoid losing money. Finally, invest only a small portion of your funds to bitcoin.