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Bitcoins are the hottest things in the markets of technology right now. Bitcoins are a form of cryptocurrency which has literally been on fire in the recent times. There have been a number of changes in the way the handling of the currency too, has been done. Let us take a look at the top 10 bitcoin apps for Android.
Top 5 Bitcoin Apps for Android
1. Bitcoin Map
Bitcoin Map is one of the best Bitcoin apps for Android. It makes use of various mapping applications such as Google Maps, CoinMaps.org, and OpenStreetMap to help the users find businesses and services in their area which provide goods and services in exchange for bitcoins. The app is quite new in the markets but has been doing fairly well with the users. It is indeed something innovative, as many a time, users have bitcoins but do not know what can they buy using it actually.
2. Mycelium Wallet
Another of the most popular Bitcoin apps for Android, Mycelium Wallet allow the users to help find other people to trade their bitcoins with. It is one of the Bitcoin Wallet apps for smartphone users. Bitcoin wallets on Android are rather new, but they have been on Apple for quite a while now. Mycelium Wallet app allows the users to make a fast connection to the bitcoin network with the ‘super nodes’. Users don’t even need to download the entire blockchain to get fully connected. This is one of the best apps that you should try out.
3. Bitcoin Wallet from Coinbase
Developed by Coinbase, the Bitcoin Wallet app is among the most popularly used Bitcoin apps for Android. The app allows the users to buy and sell bitcoins, as well as manage their account over time. For simplicity’s sake, users can consider it like PayPal, but for Bitcoins. Users can also disable their phone access if their phone is stolen to ensure that their bitcoins are safe.
Bitcoinium is truly a ‘smart’ app for the smartphone users. With this app, the users can view the prices of Bitcoin trading, as well as set alarms to know immediately when Bitcoins hit a desirable price. It also comes with a widget support that the users can set up for anytime access directly from their home screen.
One of the most well-known names when it comes to bitcoin apps for android smartphones, zTrader allows the users to trade various cryptocurrencies at 17 different exchanges. Not only does it provide trading options, but also gives the users a great overview when it comes to coin market cap. It is also one of the most secure apps for the purpose.
How to Buy Bitcoin?
It is very easy to buy and sell bitcoins in today’s day and age. Markets have been evolving at a rapid pace, and people are quickly getting on the use of cryptocurrencies for various reasons. Bitcoin has crossed $1000 now, and it is a good time to get to know what bitcoins are, and how they work. Let us take a look at the process of how to buy bitcoin.
Buying a bitcoin is quite easy. Users need to get in touch with a ‘exchange’ in their country. This featured exchange depends from country to country, and while some places might have as less as just 4-5, there are others nations with over 50-60 exchanges. Exchanges also have an option of promoting themselves higher up the order as a ‘featured exchange’. As of now, CoinsBank is the top name in the list.
After this, the users can easily buy Bitcoins by connecting their banks to this exchange account. These exchanges allow purchase of as ฿0.0001. There is no fees on the deposits. The process of how to buy a bitcoin is quite easy and simple, and quite similar to making a regular online purchase.
How to Sell Bitcoin?
Selling bitcoins too, is quite easy and simple, just like how you buy a bitcoin. This too, is done with the help of these aforementioned ‘exchanges’ which allow the users to buy bitcoins and sell them too. The technical term for selling the bitcoins is ‘withdrawing’ and buying them is ‘depositing’.
In order to withdraw, or sell bitcoin, all a user needs to do is to log on to their exchange where they have deposited bitcoins, or traded bitcoins, and withdraw them. While there is no fees at the times a user makes a deposit, there is generally a small fees at the time of withdrawal. For example, Coinsbank charges a fixed fee of 0.5% and the minimum transaction amount has to be that of ฿0.001. A maximum of ฿1 is usually allowed at a time. While there is a fixed transaction fee, there is no fee if you cancel your transaction.
Generally, banks accept bank transfers, wire transfers, debit or credit card deposits, and in some cases, exchange cards (example: CoinsBank Card). Webmoney, perfect money, QIWI, PayPal, Western Union too, are accepted.