Digital currency is having a moment. There are several waves of new digital currencies cropping up every year. These currencies can be purchased with fiat currency or digital currency. More people than ever before are looking to digital currencies as a way to get their money in order and make transactions more convenient and less expensive than using traditional methods. If you’re just getting into the world of cryptocurrency trading, you must understand how your app will affect your trading results. Keep reading to discover why Bitcoin Trading apps are great for beginners.
1. Trade with Bigger Bets with Mobile Apps
How does your trading app account for all the different exchanges you trade on? Are you having to manually copy and paste buy and sell orders between different apps? What about the sell orders for your coins? If you’re like many traders, you probably spend a lot of time copying and pasting buy and sell orders.
In many cases, you might have to spend up to 20-30% of your trading time just to get your computer to send your coins to the right exchange. This can be a huge time-waster and is probably the number one reason why people give up trading and selling coins quickly. With a mobile app, you can get buy and sell orders sent to your phone instantly, without having to launch several different apps. This makes it much easier to keep tabs on your trading and make informed decisions when buying and selling. Even if you’re not an advanced investor, using a mobile app like Bit Profit to track your investment is simple and convenient.
2. Make Simple and More convenient Transactions with Blockchain-based Apps
So far, we’ve covered why blockchain-based apps are convenient for newbies, but what about experienced cryptocurrency traders? Are there any advantages to using these apps over other trading methods? The answer is yes, and they can be very useful for seasoned pros who want to make quicker and easier trades.
Many cryptocurrency exchanges don’t offer the ability to buy and sell a wide range of coins at the same time, so you have to wait for someone to make a new order before you can get involved. This can be very slow, especially if you’re working with hundreds or thousands of coins. Here are a few common problems that newbie traders face and how blockchain-based apps can help:
a) Finding investors who are willing to buy their coins.
b) Finding sellers who are willing to sell their coins.
c) Finding a suitable price for both buys and sells.
d) Make sure the price you set is correct.
3. Easier to track trading patterns and progress
Trading cryptocurrencies is all about patterns and making informed decisions. This is why it’s important to track your trading results using both a computer and a smartphone app. How do you do this? The best way is with a special trading app that retains historical data. These apps can help you track your trading progress over time, allowing you to see at a glance how you’re doing and what areas of your trading are lacking.
You should also check in regularly to make sure that your trading is working properly. You can do this by clicking on the radar icon in your trading app and seeing what coins you’re trading. If you notice any abnormal activity, you may want to contact the exchange support team.
4. Get Started on a Cloud – No Computer Needed
If you’re a complete newbie to trading and don’t have a clue where to start, it’s easy. All you need to do is enter your money and buy a few coins. Don’t try to trade with lots of money at first. Start with buying a few bucks and seeing how it feels to hold a certain amount. You can always change your mind and sell the coins later on. This is probably the biggest advantage that Blockchain-based apps have over other trading methods.
You don’t need a computer or even a phone to trade cryptocurrencies. You can make transactions with real money using the apps on your mobile device. Furthermore, you don’t need to be registered with an exchange to make trading decisions for the money you don’t have to buy or sell coins.
5. Avoid Fees with Blockchain-Based Apps
Some exchanges will charge you a fee for making a trade. This fee is usually based on the value of the transaction. If a transaction costs you $20 to make, then the exchange is taking $2 from each of your coins. This fee is passed onto the customer, regardless of whether they’re a newbie or an advanced investor. You can avoid this fee problem by not using an exchange where fees are charged. Instead, open a trade using a broker or online broker. Both of these services do not charge any fees for your trades, ensuring that you make money from each transaction.
Conclusion
Now that you know why mobile Bitcoin trading apps are convenient for beginners, it’s time to get started using the best app for your trading platform. Currently, there are plenty of options, so it’s hard to say which app is best. Each platform has its own unique set of pros and cons, so it’s important to do your research and make a decision based on your trading goals and preferences.