The 7 Best Crypto Buying Apps in 2024

In the evolving landscape of cryptocurrency and blockchain, staying informed and educated is key to navigating this dynamic space successfully. One of the most engaging and informative ways to enhance your crypto knowledge is through podcasts. For instance, "Unchained" hosted by Laura Shin, a well-known crypto journalist, offers deep dives into the workings of the crypto world, featuring interviews with industry pioneers. Another notable mention is "The Pomp Podcast," where Anthony Pompliano discusses the technicalities of cryptocurrency with various experts, making complex topics accessible to a broader audience. Check out the Spotify app for more podcasts about cryptocurrency and blockchain information.

Beyond podcasts, Discord servers dedicated to Web3 have emerged as vibrant communities for real-time discussions and learning. These servers are hubs where enthusiasts and experts alike gather to share insights, trends and advice (alpha) on everything from NFTs to decentralized finance (DeFi). Moreover, Twitter, now rebranded as X, remains a crucial platform for crypto learning. With its real-time updates, expert commentary and diverse perspectives, X is a goldmine for anyone looking to stay abreast of the latest developments in the crypto world. By engaging with these resources, you can deepen your understanding of cryptocurrency, stay updated on market trends and connect with a global community of like-minded individuals.

As we step into 2024, the crypto market is white hot with the imminent launch of Bitcoin Exchange-Traded Funds (ETFs) in the United States. This development has stirred significant optimism in the crypto community, with the U.S. Securities and Exchange Commission (SEC) close to approving the first spot bitcoin ETFs. Recent discussions between investment management firms, stock exchanges and the SEC have centered on finalizing the wording changes in the S-1 prospectus documents, a critical step towards the approval of these funds. This move, expected to materialize as early as the second week of January, marks a pivotal moment in the integration of cryptocurrencies into mainstream financial markets.

The launch of Bitcoin ETFs signifies a major shift, offering investors a regulated and potentially more secure avenue to invest in Bitcoin. Unlike direct cryptocurrency purchases, which can be complex and security-laden for average investors, ETFs provide a more familiar and accessible route to investment, being traded on traditional stock exchanges. This development also promises to bring a wave of institutional money into the crypto market, potentially increasing Bitcoin's liquidity and stability. It's a game-changer, especially considering the past reluctance of the SEC to approve such products due to concerns about market manipulation.

In addition to Bitcoin ETFs, there are alternative methods for investors to gain exposure to Bitcoin's performance. One notable example is MicroStrategy, a public company that has heavily invested in Bitcoin. By investing in MicroStrategy's stock, investors indirectly gain exposure to Bitcoin's price movements. However, it's important to note that this method carries its own risks and is generally considered less secure than direct investment in Bitcoin or through regulated ETFs. The performance of MicroStrategy's stock is not only influenced by Bitcoin's price but also by the company's business performance and broader stock market trends.

In summary, the upcoming approval of Bitcoin ETFs in the U.S. is set to open new doors for investors, combining the growth potential of cryptocurrencies with the regulatory safety and ease of traditional financial markets. This, along with alternative investment methods like investing in companies like MicroStrategy, provides a diverse range of options for those looking to invest in the burgeoning world of cryptocurrencies.

“As someone who has been active in the landscape of cryptocurrency, if I were to personally recommend one from our top 7 list, it would undoubtedly be Robinhood. For me, the allure of Robinhood is rooted in its remarkable appeal to the younger demographic, a group that often seeks both simplicity and diversity in their financial endeavors. The platform's commission-free trading across various asset classes, including cryptocurrencies, stocks and ETFs, makes it particularly enticing.

There's a certain charm in how Robinhood has democratized investing for the younger crowd. The app's intuitive design is a breath of fresh air, especially for those who might find traditional investment platforms daunting or overly complex. This simplicity doesn't just invite participation; it encourages a more exploratory approach to investing. As a young investor myself, the absence of trading fees on Robinhood was a game-changer. It opened up new possibilities, allowing me to experiment with different investments without the burden of extra costs.

Moreover, Robinhood's impact goes beyond just facilitating trades. It plays a pivotal role in fostering financial literacy among its users. For many of my peers, Robinhood was their first foray into the world of investing. This initiation, facilitated by the app’s user-friendly environment, is invaluable. It's not just about making trades; it's about gaining confidence and understanding in a field that can often seem inaccessible. In a way, Robinhood isn't just an app; it's a gateway to financial empowerment for a new generation of investors.”