Since most people are familiar with Android apps, it’s a lot easier to start investing in Bitcoin using the Android operating system. Another significant benefit of utilizing Android applications for Bitcoin investing is that, because Android has been around for a long time, there are a plethora of cryptocurrency investment apps available to download based on your individual needs.
You have more alternatives, which means you may pick an app based on your investing goals and the cryptocurrency you want to invest in. While some crypto exchanges have applications that cater only to Bitcoin investors, others allow users to purchase a variety of different cryptocurrencies.
However, there are some questions that you need to ask yourself before you select a Bitcoin trading application. We’ll go over some of the most important ones that new (and even experienced) Bitcoin traders need to ask themselves.
Are Android Apps Secure?
Security is a big issue when it comes to mobile applications in general. Since Bitcoin trading is a significant investment, you will need to ensure that the Bitcoin trading app you choose is safe and secure. So, are Android Bitcoin trading apps secure? Well, there have been reports of theft and fraud, leading some to question the reliability of Android apps when it comes to keeping your Bitcoins safe.
Though the blockchain is fairly safe, given it takes years to breach the crypto-backed security mechanisms, it is, however, quite simple to gain access to someone’s Bitcoin wallet and steal all of their funds.
That being said, you can defend yourself from harmful attackers by taking some basic precautions. One of the first measures you should take is to only use Android apps that have been validated and verified on the Play Store. It is also recommended to only use Android apps that have the proper safety protocols in place to keep their user’s personal information safe, such as 2FA, passwords, and even biometric verification.
Is the Bitcoin Trading App User-Friendly?
When it comes to money, you need to be certain that you’re doing everything right. That’s because every blunder may cost you a lot of money. For example, when Bitcoin’s value rises, mistaking a button that picks a short position for one that picks a long one might result in huge losses. These consequences can be amplified if you trade on margin, putting you in a pile of debt.
To make sure you get a Bitcoin app that’s easy to use, you need to make sure your Android app is easy to navigate. If not, you might end up making serious mistakes if you do not properly understand what each element of the app means and does. The app you choose should have easy-to-use menus and a simple user interface that can be understood and used by even novice users who are going to be trading in Bitcoin for the first time.
This is why new users should start with applications that are simple to use, especially trading apps. Make sure the app you’ve chosen provides a practice mode…