Mobile devices such as smartphones and tablets have since long been a crucial element of our modern lives. So much so, that one could argue that a smartphone is the most useful and important device you can have with you.
When it comes to keeping tabs on the price of cryptocurrencies and even perform various crypto-related actions and tasks, smartphones are also a crypto trader or holder’s best friend. Nowadays, crypto traders could very well handle most aspects of their crypto wealth with just the help of their iPhones or iPads.
As a starting crypto trader, you’ve most probably thought about what you can do with your iPhone. To help you get started with buying and selling Bitcoin right from your iPhone or iPad, we have created this quick guide.
In short, if you want to trade Bitcoin on the move, you’ll need to find cryptocurrency exchanges that offer Bitcoin trading and also have a bespoke iOS app on the App Store (since no other source is completely reliable and security is quite important considering a Bitcoin is around $6,823).
Coinbase is probably the safest and beginner-friendly option out there. Even though Coinbase bills itself as a Bitcoin wallet, the app is more than that as it also allows you to sell and buy Bitcoin directly with your iPhone.
The application can be downloaded from the App Store, and installing it takes only a matter of seconds. Once launched, you need to enter your email and password in order to create an account. After the identity verification procedure is over, you will probably have to wait somewhere between one and three hours. Next, you have to connect your bank account, and you should be ready.
How to buy and sell Bitcoin
It’s very user-friendly and quite versatile, so you should be able to get to grips with its features without much effort. If you want to buy Bitcoin, launch the Coinbase app on your iPhone and select the Buy/Sell option from the app’s home screen. Tap the buy button at the top of the screen and enter the amount of Bitcoin you want to buy (the amount should be entered in your local currency). Next, choose the wallet address you wish to deposit the Bitcoin to and the payment method. Complete the process by authenticating.
Selling Bitcoin is just as straightforward on Coinbase. Go to the same Buy/Sell section, and tap Sell from the home screen. Please note that if you skipped the bank account connection process described earlier, you would be asked to perform it now. Same as before, enter the amount of Bitcoin you wish to sell (in your local currency) and then select the bank account you want to withdraw to. Complete the process by authenticating.
Other noteworthy apps for iOS Bitcoin trading
As mentioned before, Coinbase is not the only iOS app that allows you to trade and sell Bitcoin. There are various reputable crypto exchanges out there that offer efficient apps for both iOS and Android.
Some of the most relevant examples include Binance, Gate.io, Bitfinex, KuCoin, and CEX. Whichever one you decide to choose should be based on personal preference, as well as on the features and benefits provided by their underlying exchange services.
Binance is one of the biggest crypto exchanges out there, and its iOS app is nothing short of useful. Not only does it support a great number of cryptocurrencies, but it also allows traders to take advantage of the BNB coins (the platform’s native token). With their help, you can benefit from as much as 50% savings on your trading fees.
In the case of Gate.io, another big name in the industry, the mobile apps are top notch. Not only can you trade Bitcoin (and a plethora of other coins), but the app also allows you to add fiat money via AliPay.
Bitfinex is particularly famous for its quick liquidation, meaning that you can trade large amounts of Bitcoins without having to wait for too long. KuCoin is one of the newest companies to have entered the crypto exchange market, and its mobile apps are also very good. CEX is especially recommended as it allows you to buy Bitcoin using a credit/debit card.
Evidently, there will be differences between how these apps will work and their Bitcoin buy/sell procedures. However, they are fairly similar to the one described in our Coinbase guide above.