A bitcoin app is software that runs on a mobile device. It lets you buy, sell and exchange bitcoin, and sometimes even store it (provided the app includes a wallet). There are many different bitcoin apps you can download, but they are not all equal. In this article, discover our expert tips for choosing the best bitcoin app.
What Are the Best Bitcoin Apps?
In recent years, crypto apps have kept multiplying, so there are several bitcoin apps you can use. To help you choose, here are the top 5 apps that let you trade from your smartphone.
On related topics, our articles “Best Cryptocurrency App” and “Best Bitcoin Platforms” are a good complement to this read.
The eToro App
eToro clearly stands out for its ease of use. It is by far the best-suited bitcoin trading app if you are taking your first steps in the world of cryptocurrency.
eToro Features
This bitcoin app is compatible with Android and iOS. Simply download it from the Google Play Store or the App Store. As a crypto trading app, it is just as good as the web version: you will find all the features and services you need.
eToro lets you trade efficiently on your smartphone. To access all its features, however, you need to sign up on the platform and then fund your account.
eToro Advantages
eToro is a reliable app because it is a regulated online broker. It is also among the best in terms of protecting clients’ data and funds.
Another advantage of this bitcoin app is that it is designed especially for investors and traders who want to take advantage of social trading.
eToro is also easy to use and very intuitive, making it ideal for new investors. The app offers beginners a range of tools and courses that not only make trading easier but also teach them to trade better. It also has a low minimum deposit to fund your trading account.
Another strength of the eToro app is that it lets you follow major market events: the app’s news feed is always up to date.
eToro Disadvantages
On eToro, you have a limited choice of account currencies: only the euro, the Australian dollar, the British pound and the US dollar are available. On top of that, currency conversion fees are high. According to some users, the eToro crypto app’s customer service is also not very effective.
The Coinbase App
This app is offered by Coinbase Wallet. It lets you manage and store your cryptocurrencies on your smartphone or another mobile device.
Coinbase Features
Coinbase is available on the App Store and the Google Play Store, and you can download it for free. The Coinbase Wallet crypto app lets you acquire many virtual currencies. It also lets you transfer cryptocurrencies to other wallets.
Coinbase Strengths
This mobile wallet offers several practical features and advanced management tools, so it suits all traders. With Coinbase, you can pay for your transactions directly, and the app offers several payment methods. It is also a highly secure app, so you have nothing to worry about regarding your data and the security of your money.
Coinbase Drawbacks
Many traders regret that Coinbase’s financial assets are limited to cryptocurrencies.
The Bitpanda App
This bitcoin app can be downloaded for free from the Google Play Store (if you have an Android device) and the App Store (if you have an iOS device). It has a smooth, easy-to-use interface.
Bitpanda Features
Bitpanda lets you sell, buy and exchange financial assets directly. It also lets you keep your transaction history while managing your assets in real time.
Bitpanda Advantages
Bitpanda is known for its excellent customer service. This bitcoin app offers a wide variety of financial assets and cryptocurrencies. It even gives you free access to its digital wallet.
Bitpanda Disadvantages
Bitpanda’s transaction fees put off many users. They are higher than those of other bitcoin apps.
How to Download a Bitcoin App Quickly and for Free
Want to trade your cryptocurrencies on your mobile device? The first thing to do is download a bitcoin app. Whichever bitcoin app you choose, the steps are the same.
Downloading the App
Go to your mobile device’s app store (Google Play Store for Android and App Store for iOS) and type the name of the app you are looking for (for example, eToro or Bitpanda). Then select the app and tap “Install”. The download will start automatically, and so will the installation.
Opening the App
You will receive a notification once the app has been successfully installed on your mobile device. Then go to your home screen to open the app and tap “Get started” to move on to the sign-up step.
Signing Up to Open Your Account
To open an account on any bitcoin app, you need to:
- choose a username,
- enter your email address,
- create a password.
You will of course need to accept the platform’s terms of use, cookie policy and privacy policy. Finally, tap “Create account”.
Note: on some bitcoin apps, you can sign up by logging in directly with your Facebook or Google account. The app will then use your personal data to validate your registration. This is faster.
Creating Your Trader Profile
To validate your registration, you need to complete your profile. This means providing certain personal information, such as:
- last name,
- first name,
- address,
- occupation,
- annual income.
You will also be asked a series of questions about:
- your goals,
- the risks you are prepared to take,
- your experience and knowledge of finance and cryptocurrencies.
Verification to Complete Your Registration
This is an identity check: you cannot access the features without it. To do this, simply open the confirmation email sent by the platform and click “Verify now”. You will then be asked for a mobile phone number, to which the platform will send a code. Enter the code in the corresponding field. Finally, you will be asked to upload your identity documents. And you’re all signed up!
Making Your First Deposit
To trade bitcoin, you need to fund your account. Where to do this depends on each bitcoin app, but you will usually find a “Deposit funds” button in the menu. Simply tap it, then fill in the fields for:
- the amount you want to deposit;
- the currency you choose;
- the payment method that suits you (this depends on each app)
Then tap “Continue” and follow the bitcoin app’s instructions.
Diversifiez votre patrimoineInvestissez dans l’artDes tableaux originaux, pièces uniques signées par l’artiste. Un actif tangible, loin des écrans et des cotations.Voir les tableaux →How to Make a Bitcoin Trade on an App
Whether you are selling or buying bitcoin, there are 3 steps.
Search for Bitcoin in the App
Depending on the app, look for the “magnifying glass” icon on your screen. Then type “BTC” and select the “Bitcoin” option.
Analyze Bitcoin and Its Price
You will normally be taken to a page with various information about the asset: the news feed, charts, the cryptocurrency’s price and more. This information lets you carry out your own analysis. Once you have made your choice, tap “Invest”.
Sell or Buy Bitcoin in the App
You will be taken to the investment page. Select the action you want to take, buy or sell, then enter the number of BTC units you want to sell or buy.
If you are buying, simply tap “Open position”. If you are selling, first choose the maximum loss you can accept. Note that this option is only available on some apps, including eToro. Then tap “Open position”.
What Fees Does a Bitcoin App Charge?
Downloading and installing a bitcoin app is completely free. To keep running, however, a bitcoin app charges fees. In general, here are the fees a bitcoin app may charge you:
- Commissions on all transactions
- Spreads, which can be fixed in advance or variable depending on market conditions
- Withdrawal and deposit fees
How to Choose Your Bitcoin App
Choosing a bitcoin app is very important, as it helps you trade better. The goal is to find an app perfectly suited to your needs that you feel comfortable with. With this in mind, ask yourself the following questions:
Is the Bitcoin App Legal?
It is crucial to choose a reliable app, so check whether it is regulated by the financial authorities. To do this, don’t hesitate to consult the list of authorized platforms published by the AMF (France’s financial markets regulator) or your own country’s regulator. This helps keep your money and personal data safe.
Which Financial Assets Does the Bitcoin App Offer?
You may be particularly interested in bitcoin, but that shouldn’t stop you from diversifying your portfolio. Diversification is strongly recommended to minimize risk and broaden your investment horizon. Ideally, choose an app that offers a variety of cryptocurrencies or financial assets.
Do the Bitcoin App’s Features Suit You?
Crypto apps are often unavailable in some countries. To avoid this inconvenience, take the time to check whether the app is available in your country. Also make sure all its features meet your needs. Some apps are better suited to beginners, while others let you analyze data like an expert trader.
Another tip: find out about the app’s customer service. It is always helpful to be able to reach support staff in the event of a problem, bug or technical outage.
What Fees Does Your Chosen Broker Charge?
Each platform has its own fees, so before signing up on an app, find out about the different fees it charges. But be careful! Apps with low costs are not necessarily good value, and platforms with high prices are not necessarily effective. Always think about value for money.
Does the Bitcoin App Have a Good Reputation?
It is essential to look into the reputation of the broker you have chosen. To do so, you can read reviews posted on various cryptocurrency forums, and don’t hesitate to check user feedback.