Buy cryptocurrencies via app – how it works – eCommerce Magazin


Basically there are many providers of apps that enable trading in crypto currencies. Probably the most pleasant option for beginners Crypto apps like, Bison, bitpanda, coinbase or Binance. In each app you have an overview of all tradable currencies. By clicking on a desired currency, you get further information and a graphic with the course of the exchange rate.

By switching the graphic, the performance of the last months and years becomes visible. The graph is often supplemented by statistics on price development, such as the performance in the displayed period or a low and high value for a certain period of time. The overview is often supplemented by key data on the displayed coin.

How do I find the right provider for me?

The various apps all offer trading in cryptocurrencies, but differ in some essential features. First of all, you should pay attention to the commission you pay for buying and selling currencies. For every transaction that you make in the app, the operator takes a small part to finance yourself. This commission is different for all apps. Sometimes you only pay a flat rate of one euro, but alternatively one percent of the traded amount can be withheld. Therefore, you should pay attention, especially if you want to trade larger sums.

Another important point is the selection of tradable coins. In some apps, only the really big coins like Bitcoin or Ethereum can be bought. However, if you want to trade with less known or smaller currencies, you have to make sure when choosing the provider that he offers the currencies you want for trading. After you have decided on a provider, trading can begin.

How does the purchase of cryptocurrencies work?

All providers mentioned work according to the same system. By depositing into a clearing account, you can transfer funds from your bank account. The app shows you this deposited credit. This is the money they now have with which to buy cryptocurrencies.

First of all, you have to choose a coin. Once you have made your choice, you can start trading. Find the currency you want in the app and click Buy. The app will now ask you for the amount of coins you want to buy. For example, if a coin is currently valued at five euros and you want to buy two, you must have deposited at least ten euros into your clearing account. If your credit is insufficient, you will be notified by the app. As an alternative to selecting the number, you can also enter the amount for which you want to buy the coin. If you still have 7.50 euros in your account and you want to buy the same coin for five euros, you will receive 1.5 coins later.

After the successful purchase you will receive a confirmation. Your virtual portfolio now shows you how many units of the purchased currency you have. You can also see the current value of the cryptocurrency. Selling works in the same way. Simply tap on the coin you want to part with, on Sell, enter the desired number and confirm the process. The money now ends up in your clearing account, from where you can have it paid out to your bank account.