Crypto

How apps allow more users to invest in cryptocurrency as Bitcoin surges to record high

Now is the best time for investors to take a risk on cryptocurrencies such as Bitcoin. Apps have been developed to make it easier for them to invest in.

Published

7 years ago

August 8, 2017

Desmond O'Flynn

One can expect that the upward swing of the cryptocurrency will continue. As of this posting, the value has hit an all-time high of $3,451.86 per coin, says BBC News. How can investors and techies jump in on the meteoric rise of cryptocurrency?

Apps are now allowing the fewer techie users to invest in cryptocurrency and take advantage of its surge. To the uninitiated, cryptocurrency is digital money that is stored, transacted, and used to buy and sell online, away from the burdensome red tape and complex industry regulations that are usually associated with traditional financial institutions.

Bitcoin is the one currency often remembered by users and investors alike. While many want to dip their initial investment toe in this particular pool, frequent deterrents are the techie jargon and the unusual ecosystem that has grown around cryptocurrency. However, as popularity and curiosity alike for the latter rise along with its value, apps are being designed and invented to open the opportunity in crypto-investment to the hard-working man and woman in the city.

Invest in cryptocurrency: Visual representation of Bitcoin’s pros and cons. (Source)

Business Insider gives a visual blow-by-blow account on how you can start your first exploratory investment in Bitcoin. The app that it follows and studies is called Coinbase. The first steps have the usual process of signing up for an account which involves giving your name and contact information. You can also choose to buy Bitcoin through your debit and credit card. However, Coinbase, in particular, wants to make sure you are a legitimate buyer and asks for your bank information. Once all that information has been completed and the account is confirmed, you can start buying and trading Bitcoin.

The price can be high. The Business Insider’s writer says that his real-world $50 only got him about 0.0524 worth of Bitcoin. He decides to sit on this and will sell this should the opportune time comes.

Another app, BitPay, is tied directly to Microsoft’s Azure and ensures more security and access to cryptocurrency. According to Coinspeakers, the availability of the app on phones with Windows apps has sparked a tremendous number of downloads.

With apps like Coinbase and Bitpay making cryptocurrency more accessible to more people, the investment playing field in this area will be leveled.

Desmond O'Flynn

Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.