Introducing Bitcoin ETFs was one of the biggest changes in how the general public gets to use Bitcoin and invest in it. ETFs allow users to trade Bitcoin without having to buy and sell actual coins. Instead, ETFs are bought and sold on the stock market, while their values are tied to the value of Bitcoin itself.
Trading Bitcoin ETFs also means that investors can use mobile devices to make trades in real time. In this article, we’ll list some of the best Android apps that can be used to trade Bitcoin ETFs and other financial assets.
TD Ameritrade Mobile
TD Ameritrade Mobile is an interesting app for beginners as it allows users to practice how to buy Bitcoin ETFs and other assets and trading with virtual money in order to gain experience without any risks.
The app also uses third-party research from companies like Morningstar and CFRA, allowing users to make informed trades. The app also provides charting and trading tools so that the users can get most of the needed features without leaving the app.
E*TRADE
E*TRADE also features educational resources for beginners. Those include webinars and educational courses. It’s an app with one of the widest portfolio of ETFs – including Bitcoin ones. There are over 2300 commission-free ETFs to choose from when using E*TRADE.
E*TRADE also has a unique alert system that is known for its customizable features. The users can adjust notifications so that they get alerts based on price changes. Notifications can also have portfolio triggers for ETFs in particular. For instance, if a user plans on buying an ETF when it reaches a certain price or when it drops by a set percentage, the user gets notified so that they can execute a trade right away.
Robinhood
Robinhood is a unique trading app because it’s suited to beginners and those who trade using small amounts. It offers stock, ETF, options, and cryptocurrency trading with no commission fees. The app also boasts a user-friendly interface, making it easy for users to navigate different types of trading and a lot of data.
Robinhood allows users to buy fractional shares, meaning users can invest in expensive stocks or ETFs with as little as $1. There’s also an option of earning interest on the funds that the investors are not using and keeping in the account.
Fidelity Investments
Fidelity Investments is an app that provides commission-free trades for ETFs. It includes Bitcoin ETFs, which have grown in popularity in the last year. The app also allows for fractional share trading, meaning that the investor can buy a portion of a share for as little as $1.
Fidelity Investments also has an advisory tool that helps users create portfolios of their own and mitigate the risks involved in asset trading. The portfolio usually contains a wide array of assets, so it’s well-balanced, and it includes ETFs of all kinds, including Bitcoin ETFs.
Webull
Webull is a digital asset trading app with a few unique features. It allows users to trade with paper money, meaning that they can try the process out and make mistakes without losing any real money in the process. It’s an educational feature made for beginners.
Webull also features extended trading time, allowing users to make trades in both pre-market and after-market hours. This feature is only useful for trading traditional financial assets since Bitcoin-related assets can be traded at any time. Webull features an advanced charting tool that is important for the technical analysis of ETFs’ future performance.
Acorns
Acorns is a trading app that features a few features that can’t be found with any other app, such as automated micro-investing. It allows users to invest small amounts of money—often referred to as “spare change”—into diversified portfolios, primarily composed of Exchange-Traded Funds. Users can set up automatic contributions on a daily, weekly, or monthly basis in addition to the round-up feature.
That way, small amounts that can’t otherwise be invested are used to produce passive income as well. The main benefit comes from the dollar-cost averaging and the fact that the process requires no effort from the user.
SoFi Invest
SoFi Invest is an app specially made for those who are just getting into the world of online trading. It provides commission fee trading for all transactions and fractional shares, meaning that it’s a perfect app for absolute beginners not willing to risk any of their own assets when trading for the first time.
For users of SoFi’s automated investing, the platform offers tax-loss harvesting strategies to minimize tax liabilities by offsetting capital gains with losses. The app also provides educational courses and detailed tax information to ease the process of tax reporting.
Merrill Edge
Merrill Edge is an app working with The Bank of America to provide research tools for its users. This partnership, alongside the third-party providers, gives users access to the most in-depth research about ETFs. It’s important to note that this feature isn’t beginner-friendly and that data is only useful if the investors are able to interpret it.
The app also has a program offering cash bonuses and discounts based on how frequently an investor makes trades. It can be a beneficial program for those who trade a lot regardless of the amounts they are investing.
Interactive Brokers (IBKR)
IBKR offers a competitive fee structure for ETFs and stocks. It also operates in 133 countries, providing users with almost global access. There are also useful risk management features that create a visual representation of potential risk for a portfolio.
IBKR also has integrated banking and tax-related features, such as cash management and trading in multiple currencies. Users can receive comprehensive tax documentation, including 1099 forms and transaction histories, to assist with tax reporting. The app boasts some of the lowest margin rates in the industry, making it a great option for margin trading and leveraging investment strategies.
TradingView
TradingView is known for its endlessly customizable charts that offer users a deep dive into ETF trading, allowing them to harvest as much information as they can and make decisions based on it. Users can analyze charts across multiple timeframes, from seconds to months, facilitating a deeper understanding of market trends. It’s also not a novice-friendly feature, however.
TradingView also puts an emphasis on the community of users, which can assist one another and help with trading decisions. There are millions of traders using TradingView, and mimicking more experienced ones can help beginners. The app also features customizable alerts, allowing users to make split-second decisions based on the latest data.
Conclusion
In conclusion, trading Bitcoin ETFs on mobile apps has made investing in cryptocurrencies easier and more accessible for everyone. Whether you’re a beginner or an experienced trader, there are various apps available to suit your needs.
From educational tools on TD Ameritrade and E*TRADE to user-friendly interfaces on Robinhood and SoFi Invest, each app offers unique features. These platforms enable you to trade Bitcoin ETFs efficiently, manage your investments, and learn as you go. As the world of cryptocurrency continues to grow, choosing the right app can help you make informed trading decisions right from your phone.