With the price of Bitcoin once again flirting with its all-time high, many folks are starting to look at cryptocurrencies again as an investment vehicle. Fortunately, the industry has evolved since the last time Bitcoin grabbed headlines. That means, there’s never been a better way to get hold of some.
Whether you’re like MicroStrategy’s Michael Saylor and want to invest for the long time or you fancy yourself as a trader who can time the market to increase your profits, you should find the ideal crypto application for you among our suggestions.
While it’s not exactly next generation, we’ll kick off with Coinbase because it still represents one of the easiest ways to make your first Bitcoin purchase. Founded in 2012, the company is one of the oldest serving the US market. With such longevity, and being based in the tech hub of San Francisco, it’s easy to trust that the platform isn’t going to just disappear overnight – unlike some exchanges of yesteryear!
Coinbase offers pretty much everything a beginner trader or investor could want. For those just looking to buy and hold, the company has an incredibly user friendly brokerage service. You’ll be able to invest in your choice of a handful of cryptos, including Bitcoin (BTC), Bitcoin cash (BCH), and ether (ETH), in just a few clicks. For those wanting to trade, the platform also offers a full exchange. This provides more advanced features including multiple types of orders to help you set the price at which you want to exit or enter your chosen market.
Binance was one of the success stories of the last cryptocurrency bull market. The company exploded onto the scene and quickly became one of the industry’s biggest. Regulatory issues forced it to withdraw from the US market in 2019 but it came back quickly with a branch specifically tailored to North American customers.
The US arm of the company is available in 41 states at present. While its offerings are no match for the global version of the exchange, it does actually offer investors a wider selection of crypto assets than those at Coinbase, Kraken, or many other exchanges.
One of the coolest features of Binance.US is its recurring buys. It allows users to invest in crypto assets via a process known as dollar-cost averaging. Basically, you set the application to buy a certain cryptocurrency every day, every week, or every month, and it does so for you. This means you can spread out your entry price over a longer period, averaging out a lot of the volatility associated with digital currencies.
Binance.US offers a host of services both for desktop and cellphone users. As well as the basic and advanced exchange, you’ll find options to stake certain crypto assets to generate a passive income. EOS, ONE, XTZ, ATOM, and others are all available for staking right now.
PayPal is something of a dirty word in the cryptocurrency industry. With heavy fees and previous scorn for Bitcoin, it’s actually quite a surprise that the platform added support for cryptocurrency at all. However, even companies get “FOMO” and the payment giant included limited crypto support in recent months.
If you’ve already got an account, PayPal is probably going to be the easiest way for you to buy cryptocurrency. You can even use your existing PayPal balance or link up your bank account. This makes it one of the most convenient methods to take exposure to crypto around today.
However, there is a rather large issue with PayPal’s cryptocurrency service. It doesn’t actually allow you to take your cryptocurrency off the platform. This is fine if you just want to take exposure to the price action for a short period. However, if you want to use cryptocurrency properly – in the open, permissionless, and censorship resistant way it was intended, you’re out of luck.
Still, for sheer convenience, PayPal is worthy of a mention here. If you’re just dipping your feet in the water, it might be a good place to start. The company has also quickly become one of the largest buyers of Bitcoin, which can only be good for the digital asset’s price!
If you’re only interested in Bitcoin investing and have little interest in either trading or altcoins, Swan Bitcoin is probably the place for you. It provides user friendly options to buy Bitcoin from all 50 states and US territories.
Swan Bitcoin isn’t a Bitcoin exchange though. It’s a savings application really. Users link their Swan account to a bank account and set a recurring buy that is automatically completed. Like Binance.US, this allows them to dollar-cost average into the market at a regular interval. It might be daily, weekly, or monthly.
Founded by some of the best-known personalities in the cryptocurrency industry, Swan Bitcoin’s service really has been tailored for the discerning bitcoiner. You can choose to have your funds sent automatically to a wallet that’s 100% in your own control. That way, you can use your crypto assets in whatever way you please after withdrawing from your account – whether that’s at an online casino that accepts USDT or Bitcoin, or one of the many online merchants open to crypto payments. Alternatively, you can utilize the company’s licensed and regulated custodian platform to protect your digital currency holdings.
Swan Bitcoin puts out regular thought provoking content too. Check them out on YouTube for some of the very best philosophical debates surrounding the industry. These guys really are about as deep down the rabbit hole as you can get!
Loads of Options to Get into Crypto!
As you can see, US buyers and traders aren’t exactly limited when it comes to crypto exchange applications. Whether you prefer the Bitcoin-first experience offered by Swan Bitcoin, the multi-asset exchange provided by Binance.US, or the sheer convenience of PayPal, you’re very well catered for. Now all you need to do is hope that crypto prices head back to the proverbial moon again in the coming months and years!