Whenever anyone decides to invest in cryptocurrency, they directly go to a popular exchange and buy the desired digital currency. In short, the cryptocurrency exchange is a go-to trading venue enabling making and taking order execution very easy. To get a deep analysis of bitcoin trading visit BitIQ App. Without cryptocurrency exchange, investing in a digital currency gets very chaotic.
Undeniably, the payment services and typical trading venues like Robin Hood enable users to invest in cryptocurrencies. Still, no payment service like PayPal and Cash app offers the feature of a dedicated cryptocurrency exchange. Earlier, only those people could create an account on a cryptocurrency exchange who owned a computer. Still, now even android users can invest money in digital currencies using their smartphones.
For android devices, few cryptocurrency exchanges have made it to the most famous digital currency exchange list. However, the popular cryptocurrency exchange for android devices is equipped with many features like advanced price tracking, massive trading pairs, and a large diversity of payment methods. Here is a detailed overview of the most famous cryptocurrency exchange for android devices.
The compatibility of this internationally famous cryptocurrency exchange is not just restricted to android devices as it first came for desktops. Later, the development team of this exchange released an android version. As per reports, the android version of this cryptocurrency exchange is very compact and much optimized compared with the iOS version.
The significant advantages of utilizing this cryptocurrency exchange on Android for trading and investing in digital coins, initial coin offering, and bitcoin futures include a massive diversity of altcoins.
Moreover, this international digital currency exchange has a massively simple UI. When it comes to trading volume and liquidity, Coinbase and Binance top the table. The advanced version of this cryptocurrency exchange named Coinbase pro is equipped with more advanced price tracking. People think that Coinbase pro offers fewer transaction fees.
However, the transaction fees plan on Coinbase pro is similar to the Coinbase standard version, and the differences lie between other features offered for advanced traders. You can easily download this application from the play store; the Android version is smaller than the iOS version.
A cash app is a regular payment application, not a dedicated cryptocurrency exchange. Nevertheless, the cash app offers numerous advantages to new users when it comes to buying and trading virtual coins. A prominent advantage of using this digital currency exchange over other trading venues is a variety of payment methods to withdraw digital currencies.
The cash app offers the transfer of digital currencies using a trustless consensus mechanism; in short, each transaction on the cash app is executed upon a peer-to-peer network. Cash apps allow users to withdraw BTC and other digital currencies. The simplicity offered by this trading venue in terms of UI is impeccable. The disadvantage of utilizing this payment service over a dedicated cryptocurrency exchange is that services of this platform are limited to bitcoin only and no other digital currencies.
When it comes to decentralized cryptocurrency exchange, only a few platforms have released their official application for android devices, and Bisq is one of these few platforms. Since Bisq is a decentralized cryptocurrency exchange, it operates upon a peer-to-peer network.
The significant advantage of utilizing this cryptocurrency exchange in contrast to any of the above-listed exchanges is fewer transaction fees and better control over the funds. However, newbies should not go for a decentralized exchange as they are equipped with a lesser trading volume. Furthermore, the transaction fees of this exchange are not definite at all, and it varies from 0.05% to 0.70%.
There is no better cryptocurrency exchange for android devices for trading in altcoins than the Binance exchange. Binance exchange has listed hundreds of cryptocurrencies, and the platform is compatible with both Android and iOS. However, the android version of this exchange is pretty smooth and has a lesser storage size than the iOS version. Binance has a neck-to-neck competition with the Coinbase exchange in user base and trading volume.
The above-listed proton explains facts about popular cryptocurrency exchanges for android devices.