What’s great about bitcoin is that you don’t need to shell out rent money to get in the game, because bitcoins can be bought in increments—basically, whatever you can afford. As an example, I buy bitcoins frequently, but only in small increments that I can afford. At least once a month, I put away loose change that would’ve otherwise gone to small purchases like packs of gum, and transfer them over to my bitcoin account.
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As bitcoins are currently highly volatile, these purchases can grow or lose value over time, but it’s ultimately worth the risk for me in the long term, as I only use money I don’t mind losing. Anyone who wants to get into the world of bitcoin must first obtain a wallet to store their funds. Smartphones are our constant companions, and there’s no shortage of bitcoin wallet apps on the Google Play Store, but the issue is finding one that fits your particular needs.
So here are some of the best wallet apps available for Android, with their key features listed plainly to help you find the right one for you.
Coinbase Coinbase is a bitcoin exchange platform based in San Francisco and founded in It has apps for both iOS and Android, and features built-in wallets for bitcoins, etherand the good old US dollar. The wallets are very secure, requiring a three-step verification process in order to access the Coinbase app.
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Install Coinbase for free from the Google Play Store As a US-based exchange, Coinbase requires an extensive identity verification process during signup that gives it an air of legitimacy—something the world of bitcoin and cryptocurrencies are still in dire need of. Proof of ID and residency have to be sent over and reviewed, similar to opening a bank account.
Once approved, a user can link his bank account, debit, and credit cards to get started trading. Coinbase is a great option for those new to the world of bitcoin, or those who casually dabble in it. The app is incredibly intuitive to use, and has the ability to instantaneously convert bitcoins to dollars and vice versa by using its built-in wallets for both currencies.
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If you’re adventurous enough, you can day-trade using the Coinbase app alone, and potentially make your bitcoin holdings grow. Since all holdings are stored within the app itself, there’s never any need for a backup. As convenient as it is, many will bemoan the fact that their bitcoins are stored within Coinbase itself, as it may not be as secure as a wallet that’s kept completely private.