There are numerous methods for starting one’s investment journey in crypto. However, perhaps the easiest way to buy coins is through a traditional financial service provider that has recently adopted the technology. The rise of the cryptocurrency industry has enabled a rapid evolution of the accompanying products and services. The following will help you find the best cryptocurrency apps designed to ease the activities of a long-term investor and a short-term trader.
- High-level Security
As bitcoin and other cryptocurrencies are difficult to trace, the app must have security to keep your funds safe. Once you have completed a transaction, it is virtually impossible to cancel or get your money back. A decentralized system like blockchain also makes it almost impossible to determine who owns a wallet.
There’s no way to determine who is responsible for marketing an unlawful transaction generated by your exchange. Criminals, fraudsters, and hackers may use cryptocurrencies to their advantage due to this. However, there is a plus aspect to this as your information will be kept in the strictest of confidence. So, it would be helpful if you remembered to be sure you set up two-factor authentication and email authentication to provide an additional layer of protection.
- Real-time data
Just six months ago, the price of Bitcoin was Rs. 6 lakh, and today, the value has almost quadrupled and reached Rs. 25 lakh. Etherium, another popular cryptocurrency, has reached the price of Rs. 1 lakh, which is just in one year. That is why you never know when the cryptocurrency market can skyrocket overnight, as the market is quite volatile. Therefore you need to remain up to date with real-time information on volumes and price of currencies.
Whichever app you download, look for real-time data and information; this ensures that you are not using outdated information in trading and investing decisions. You should also ensure that the exchange has enough trading volume so that you can buy and sell coins without any problems. These apps can give you accurate data to decide which cryptocurrency to invest in.
It is never a good idea to be late to the party in trading. Delayed data will make it impossible for you to profit from short-term movements in the underlying cryptocurrency. Instead, use a good cryptocurrency app that offers the Bitcoin price in real-time and all other currency pricing feeds.
- Availability in your country
Availability is not a big concern if you’re just interested in learning about cryptocurrencies with news or tracker apps. However, if you are interested in buying or selling crypto, you need to ensure that the app is available and that trading cryptocurrency is legal in your country.
Discussions and debates abound on whether or not bitcoins are legal since tracking them is impossible. Cryptocurrencies are banned in some countries, and others have imposed restrictions on the types of cryptocurrencies that can be purchased or sold. Ensure that cryptocurrency is legal before downloading the app and getting started.
Many coin app are well established nowadays and can make new investors feel more at ease with their slick user interfaces. But they have certain limitations too that make utilizing cryptocurrencies in any other regard a hassle.