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Those that are trying to get ahead of the curve on cryptocurrency may be wondering where to start. There are countless apps that promise a smooth transition into the world of crypto and Bitcoin, but most of them seem to be just as confusing as the next. Luckily, there are ways to invest in crypto using the apps you likely already have on your phone.

 

 

PayPal

This e-commerce platform is one of the first of its kind and, as a result, likely one you already have an account with. In late 2020, PayPal introduced the option to trade cryptocurrency on its app. Though the trading is very insular–all your transactions will have to be done through PayPal, and can’t be managed through external wallets–it is very convenient and you can start with only $1.

 

When opening the app, simply select the Finances tab and tap on Crypto. Then, it’s only a matter of choosing your preferred currency (Bitcoin, Bitcoin Cash, Ethereum, and Litecoin–what’s the difference?). Once you press Buy, the app will then verify your identity and you’re good to go. You can either buy crypto directly with your existing PayPal funds, or you can link your bank to the app and make purchases that way.

 

 

Venmo

Buying crypto on Venmo is a very similar process to buying it on Paypal, which makes sense since they’re operated by the same company. From the menu, locate the crypto tab and select it. From there, you’ll see the same assortment of currencies as on PayPal–Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Once you’ve made your choice, you can also buy crypto with as little as $1 and upwards of $20,000 a week or $50,000 a year.

Note that Venmo is slowly rolling out the option for crypto, so this option might not be available for everyone right away.

 

 

Cash App

On Cash App, trading cryptocurrency is not restricted to the app, but can also be used as a supplement, if you already have some outstanding investments. You also have the option to transfer some of your assets to friends or family, as well as the option for auto-investing. However, unlike PayPal and Venmo, Cash App currently only offers Bitcoin as a currency.

If you want to start buying and selling through Cash App, simply click on the Bitcoin tab on the front screen and navigate to the option of buying BTC. Once you’ve chosen the amount you want (you can also click on “…” at the upper right corner if your preference isn’t displayed), simply enter your pin and confirm your purchase. Make sure that you have the amount already in your Cash App account before you buy.

 

 

Which one is best for me?

Only you can determine which app is best suited to your cryptocurrency trading needs. PayPal and Venmo have more options available in terms of currencies, but they’re also limited in their features, and charge fees for their purchases. Cash App, on the other hand, gives you more freedom in how you handle your Bitcoin, but doesn’t currently offer the chance to trade Ethereum or Litecoin, or other lesser currencies.

 

No matter where you choose to trade crypto from, however, it is essential that you pick a platform you trust and know how to navigate.