How to buy Bitcoin and other cryptocurrencies on iPhone and Mac

Along with their growth in popularity, many cryptocurrencies have also increased in value. At the beginning of 2017, Bitcoin was slightly above $ 1,000 per coin price point. About four years later, the price of a single Bitcoin is now around $ 50,000.

Whether or not the price of cryptocurrencies like Bitcoin will continue to rise is controversial. Either way, if you are interested in buying crypto, there are a number of ways to do it on an iPhone, iPad, or Mac. These are some of the best and easiest ways.

A cryptocurrency is a digital asset that can be used to make anonymous payments in exchange for goods or services. To record transactions, cryptocurrencies use a public accounting system known as a “blockchain.”

The blockchain technology that powers cryptocurrencies is valued as much for its security as it is for its privacy. There is no centralized authority and a crypto currency is not backed by a physical object, fiat currency or merchandise.

Unlike a fiat currency issued by a central bank, cryptocurrencies are decentralized. Transactions between buyers and sellers are only recorded on the blockchain. There are no intermediaries to facilitate and record transactions.

For all that, cryptocurrency trading is a bit like the Wild West.

The values ​​of cryptocurrencies are also derived solely from what the market is willing to pay. That means that cryptocurrencies are incredibly volatile.

That volatility is an attraction for some traders who want to make money buying on a dip. But it also means that there is a high level of risk involved in trading and holding cryptocurrencies. You could lose money, something to keep in mind.

As a result of the widespread popularity of cryptocurrencies, there are now several different ways to buy them. You can go for a dedicated cryptocurrency exchange like Coinbase, or you can go for a more general trading app like Robinhood or Cash. These days, users can even buy cryptocurrencies on fintech and peer-to-peer payment platforms like Cash and PayPal.

Many of these apps are available through the browser, so they can be accessed by macOS users, or as dedicated mobile apps for iOS and iPadOS on the App Store.

Once you choose a platform, the process is straightforward and generally the same. You create an account, choose a funding source such as a checking account, and follow the application’s instructions to buy and hold cryptocurrencies.

But while the process may be the same, there are some critical differences between the platforms. For example, we advise against using PayPal or Robinhood to buy Bitcoin.

Here are our recommendations for the best exchanges.

Credit: Cash application

The Cash app is one of the leading peer-to-peer payment platforms that allows users to buy and hold cryptocurrencies. But there are a few reasons to choose cash over an alternative like PayPal.

Like Robinhood, Cash allows users to invest in stocks, ETFs, and cryptocurrencies. It is a mobile-friendly interface that is easy to use.

However, users of the Cash application can withdraw their cryptocurrencies to an external wallet. That means that users can spend their coins however they wish, and it also offers a level of ownership and security beyond other platforms.

This is why Cash is a good place for beginners to start experimenting with buying cryptocurrencies. One possible downside to the platform is that users can only buy Bitcoin currently, although other currencies may be supported later on.

Credit: Coinbase

Coinbase is one of the longest-running and most used cryptocurrency exchanges, and it hasn’t generated controversy like others. It’s a solid option for those who have some experience buying and holding coins, although beginners won’t lose their depth on the platform.

Like other fintech apps on this list, Coinbase is easy to use. Once you set up an account and add a funding source, you can get started. There is also a Coinbase Pro membership that offers a few more perks for more experienced cryptocurrency buyers.

As with most well-rated cryptocurrency exchanges, users can withdraw their cryptocurrency to external wallets. If you don’t want to bother setting up your own wallets, Coinbase stores many of your assets in more secure offline storage that is not as vulnerable to hackers.

However, the platform is not free to use. There are transaction fees and distribution prices that can add to the cost of buying large amounts of crypto. It also doesn’t support as many “altcoins” as other platforms, like Binance.

You can download Coinbase from the App Store here. The website for Mac users is here. If you sign up using this affiliate link, you will be able to earn $ 10 in Bitcoin after reaching certain trading thresholds.

Credit: Binance

Binance is another popular cryptocurrency exchange. Launched in 2017, it is similar to Coinbase but emphasizes altcoin trading beyond Bitcoin. That makes it a good option if you are interested in lesser known crypto.

Like most other cryptocurrency exchanges, Binance charges transaction fees. It offers purchase support for more than 50 cryptocurrencies, far beyond what Coinbase currently offers.

However, there are some downsides. Although Binance dominates in the global sphere, it currently does not support 13 US states.Users cannot deposit US dollars directly, although users can make purchases with a debit or credit card.

This is why Binance is probably a better option for more experienced cryptocurrency users or those outside of the US It is also a better option if you want to avoid Bitcoin and buy lesser known altcoins.

International users can download Binance here, while US users can download it here. It is also available through the browser.

Credit: Bisq

If you already know the cryptocurrency landscape or are a privacy enthusiast, Bisq offers a few features that could be attractive.

The platform is a decentralized and open source cryptocurrency exchange and payment platform. You don’t even need to sign up for an account to buy cryptocurrencies in the app. You can buy coins using various fiat currencies and other cryptocurrencies.

Unlike the other platforms on this list, it is not custodial either. That means there is no centralized service that stores your coins for you. It will be up to you to protect and manage your private keys. In the world of cryptocurrencies, that’s a good thing for some.

However, this emphasis on decentralization also means that you won’t get any support if you run into trouble. Also, note that Bisq only allows users to buy Bitcoin.

“Not your keys, not your coins” is a popular phrase in the world of cryptocurrencies. It means that if you don’t have access to the private keys associated with your coins, you don’t own them. Similarly, coins in an escrow account like Coinbase are more vulnerable to attack from a bad actor.

Many crypto enthusiasts recommend using “cold storage.” Unlike “hot storage”, which is connected to the Internet, “cold storage” refers to a cryptocurrency wallet that is completely offline.

There are several ways to do it. The most extreme method may be to generate a bitcoin wallet using a site like bitaddress.org, write the private key on a piece of paper and keep it in a safe place. The private keys of a wallet can also be kept in a text file on an external hard drive that is not connected to the Internet.

Users can also purchase a series of “hardware wallets,” which are key fobs that connect to a computer or smartphone. Some popular manufacturers include Ledger, KeepKey, and Trezor.

In either case, the goal is to take the protection of your coins into your own hands. You buy cryptocurrencies through an exchange, like the ones we mentioned, and send those coins to an offline wallet address. From there, you have ownership of your coins.

If you are just starting to trade a bit of Bitcoin in the Cash app, this is probably not necessary. Once you start getting involved with large amounts of money and more serious investments, it is something to consider.