Today the world is driven by technology. Traditional means of trading, such as real estate and stocks, are no longer the trend, but Mobile apps in cryptocurrency trading are taking over the market. What types are there on the market and what are their main benefits? Let`s find out!
Mobile Apps for Cryptocurrency Trading
Today, it is almost impossible to trade cryptocurrency professionally without using a mobile app development. The definition of cryptocurrency itself proves that point, because the Internet payment method, which promises decentralization and compatibility as well as usability worldwide, cannot be tied to desktop computers only.
That’s why there is hardly any other area of finance that is designed for use on mobile devices as cryptocurrency payment methods.
Not only does a cryptocurrency app allow users to follow the market anytime, anywhere, and not be surprised by rapid changes, but it also offers great convenience. In addition, the cryptocurrency app serves as a kind of command center in their pocket, decisions can be made quickly and thanks to the mobile Internet in real-time.
What Types of Apps Are There on the Market?
Types of crypto applications include trading applications, asset management applications, information collection applications, and wallet applications, etc. Let`s take a look at each option closely.
In general, you have a variety of options for using cryptocurrencies for so-called crypto-trading. One of the options is, of course, the classic buying and selling of cryptocurrencies at different rates.
First of all, the advantage of having rates for many cryptocurrencies in one cryptocurrency app. In addition, you are much more flexible than if you had to go online every time you check current rates on your home computer.
You can keep an eye on your investments when you’re away from home, in a coffee shop, on the bus, or even on a hike, and react immediately if you get the latest financial sector news. In addition, the security of your trading increases exponentially through the use of the cryptocurrency app.
Asset Management App
One can collectively manage the crypto assets it holds and check the total number of assets in real-time. An alert feature that sends a notification when a specified price is reached is also handy.
Cryptocurrency trading applications are also being used for information gathering.
There are numerous apps about cryptocurrency trading with extensive content for beginners. Which is one of the main advantages why such apps are good for business.
Cryptocurrency apps are a great entering point for beginners.
In the topic of crypto, you need to keep your finger on the pulse. So such apps can gather news feeds from popular sites.
For those who use bitcoins daily to pay for goods, the BTC mobile wallet is an indispensable tool. It runs through an app on your smartphone and allows you to pay directly from your cell phone while saving private keys. In addition, some apps allow you to use NFC tags. This means that all you have to do is swipe your smartphone across the reader without revealing any information.
Now let`s go into more detail about the advantages of cryptocurrency apps.
More Safety Compared to Websites
Smartphone security is important. Of course, this also applies to cryptocurrency apps.
First of all, many trading platforms use a smartphone to enhance security measures. For example, the trading platform Binance uses apps to add double verification, thereby protecting users from potential hackers.
According to Statista, 70% of hacking attacks are aimed at websites.
However, it is still crucial to carefully examine a company’s security features before downloading a trading or wallet app from the Google Play Store or App Store.
Always pay attention to two-factor authentication and internal encryption to keep your coins as secure as possible.
A Higher Number of Trades
Such investors trade more actively than those who trade via computers or laptops. On average, a smartphone investor makes 10 trades a month, while a laptop investor makes 5.
A survey of crypto-traders in more than 70 countries revealed that 83% of traders use smartphones to check the rating of the exchange. Checkout the list of top crypto exchanges which have mobile app too.
The reason for it is simplified UI/UX, transparency of information, and the ability to use smartphones anywhere.
Using mobile apps, investors tend to spend more money on trades.
According to researchers, this investor behavior is largely due to the design and functionality of mobile trading apps. Some are deliberately designed to increase the number of trades.
The colors used in the app serve as triggers. They often use red and green to motivate an investor to make a quick decision regarding the purchase of certain stocks.
The appearance of these colors indicates a deliberate incentive to make more trades.
Starting to trade on the stock market with a crypto trading app is now very easy. For now, crypto apps are still mostly offered by large brokers and exchanges that present their special offerings.
On the other hand, many apps are more informative and do not allow trading, but offer wallet organization and portfolio options.
They are mostly useful for beginners who are just starting their way into the world of crypto-trading.