Even though the whole cryptocurrency industry is currently in the middle of a bear market that has seen the value of some coins drop by as much as 90%, most people now agree that major cryptocurrencies like bitcoin are here to stay. Many believe that 2019 will be the year that institutional investors will finally be able to invest thanks to regulated custodial products from companies like Fidelity Investments and ICE, the parent company of the New York Stock Exchange.
Before the institutional horde descend on bitcoin, we would like to take a look at which popular finance apps currently allow you to quickly and easily buy cryptocurrencies like Bitcoin and Ethereum. Many potential cryptocurrency investors are put off by the thought of having to sign-up with a cryptocurrency exchange like Coinbase and go through a lengthy KYC/AML process in order to participate. They would much rather use mainstream finance apps so we’ve put together a list of popular iPhone and Android apps that currently allow you buy, sell and hold cryptocurrencies.
Both Skrill and Neteller are owned by the same parent company so it came as little surprise when both of these online payment giants added support for a range of cryptocurrencies within months of each other. Customers of Skrill and Neteller can now buy and sell Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, XRP Ripple, 0x and Litecoin without going through any additional verification. These cryptocurrencies can be bought and sold using any of the 40+ fiat currencies supported by Skrill and Neteller. If you are buying and selling with euros and dollars, the exchange fee is just 1.5%. A fee of 3% is charged on transactions made with other fiat currencies. Both the Neteller and Skrill apps also act as a wallet where you can store your crypto investments after you have made a purchase.
Cash App is the brainchild of Twitter founder Jack Dorsey and it has been every bit as successful. It is consistently the most downloaded Finance app from the iTunes App Store and has even surpassed PayPal’s Venmo. With the Cash App you can send and request money, spend via the Cash App debit card and you can now also buy and sell bitcoin in just a couple of clicks. The Cash App also acts as a crypto wallet where you can safely store your bitcoin so you don’t need to download any additional software. Alternatively, you can withdraw your cryptocurrencies to your own wallet, make purchases online or deposit them at a bitcoin sports betting app. They have even put together a simple, easy to understand guide to bitcoin that is great for beginners https://cash.app/bitcoin
RobinHood is one of the most popular investment apps for stocks, ETF’s, shares, options and now cryptocurrencies. Robinhood has become so successful because they charge no commission or fees. With the Robinhood iPhone and Android app you can now invest in Bitcoin, Bitcoin Cash, Dogecoin, Ethereum and Litecoin.
The Abra Global app allows you to buy, sell and hold almost 30 different cryptocurrencies, including Monero, Ripple, Zcash, Ether, Stellar and of course Bitcoin. The Abra app combines both an exchange and a bitcoin wallet with an easy to use interface that even a newbie can understand.
Funding is also super easy. You can deposit from most banks in the UK, USA and Europe or opt to use your Visa, MasterCard or American Express. The Abra app now also allows users to invest in stocks, ETF’s and commodities using bitcoin and the power of the blockchain.