3 Reasons A Mobile App Is Great for Crypto Trading
The 2000s may not have brought flying cars and robot butlers, but one thing from old science fiction novels has come to pass in this new century. Today, we all have mini-supercomputers in our pockets that give us access to the world.
We call these tiny supercomputers smartphones and, in 2021, having one is as common as owning a coffee pot or a microwave. These smartphones provide us with apps that let us play games, get information, manage our lives, and even protect our health. They also allow us to trade cryptocurrency right from our phones.
Some crypto trading platforms now offer mobile apps for users to trade on and more exchanges will be adding this capability in the future. Cove Market shows that several exchanges provide mobile apps to complement their services. These apps give crypto traders another great way to trade crypto and provide several benefits you can't get while using crypto exchanges on other devices. Here are three reasons a mobile app is great for crypto trading.
Easy to access and check balances
One of the simplest and most straightforward benefits of mobile crypto trading apps is that they are easy to access so you can do things like check your balance and check on how your crypto investments are doing.
The big advantage any mobile app has over its desktop counterpart is that you take it with you on the go. Your mobile crypto app on your smartphone is probably rarely out of arm's reach, so you can get information at any time.
It is also likely easier to sign in to start using the functions of your crypto mobile app. On a desktop, you probably have to sign in every time you open your computer, while your mobile app may be easily accessible with a fingerprint or face ID. If you use two-factor authentication (which you should on all crypto platforms, for added security), having the code sent right to your mobile device makes the process easier.
This ease of access is important to crypto traders so they can check their account balance and crypto market prices whenever they want. Knowledge is power in crypto trading and, if you want to become a crypto millionaire someday, you need to know what's going on with your portfolio.
Staying on top of exactly what is going on inside and outside of your crypto portfolio is something successful crypto traders do as much as they can. Knowing where prices are on certain cryptocurrencies and when to buy and when to sell is key, which brings us to our next point.
Ease of making trades
The crypto market never sleeps. It is open around the world and around the clock. It is a 24/7/365 marketplace. The market is also incredibly volatile. Crypto is known for its wild price swings. Coins and tokens can rise and fall in an instant and traders who can make the right trades at the right times will reap the benefits.
Mobile trading apps allow you to make trades at any time and in any place. This huge benefit means you're not strapped to your desktop 24/7–which is neither a realistic nor healthy choice. A mobile app means you can make a trade from your couch, from the store, or from your child's soccer game. It makes it so easy.
Making these easy trades when the time is right is another hallmark of successful traders. Good traders know when to get out when their investments start to take a nosedive, and when to take their profits out of a rising coin so that they don't go over the crest of the wave and lose what they have already made.
A good crypto mobile app makes trading easy and convenient. It allows you to react to real-time information and make the best decision for your portfolio. If you don't have a mobile app as part of your trading arsenal, there is a very good chance you will miss out on some important trends or times to trade
You can convert trades to spending power
In 2021, more and more businesses are accepting crypto as a legitimate form of payment. Major crypto hotspot cities around the world have dozens of businesses that allow you to pay with crypto. If you are only trading and holding your crypto on your desktop or in a hardware crypto wallet, you won't be able to spend it when the opportunity presents itself.
Using a mobile app to trade in many cases allows you to access your crypto on the go. This in turn enables you to spend it from your mobile wallet in certain situations. In the end, this is what trading crypto is really all about, right? You do it to get more disposable income and have more spending power.
Spending crypto using your mobile device is the best way to do it. While certain crypto companies are making deals with major credit card companies to provide crypto-backed debit and credit cards, we are still somewhat far from this being the norm. And though more and more crypto ATMs are popping up around the world, they are far from being considered mainstream.
Mobile trading apps make it easier to spend your crypto. As more businesses accept this form of payment, investors and traders who have their crypto easily accessible will find that it makes life a whole lot easier.
Mobile apps are the way of the future in many industries, including crypto. If you want to be on the leading edge of this trend, some exchanges offer this option now. Trading on a mobile app makes it easier to access your balance and market info, easier to make trades on the go in real-time, and makes your crypto more accessible out in the world. These are all great reasons to start trading on crypto mobile apps today.