In the past few years, bitcoin has had a lot of success, and its publicity is continuously rising. Due to the increase in popularity, thousands of android-based bitcoin applications started to pop up on the play store, allowing users to buy and sell the digital bitcoin currency from their mobile phones. The one sure thing is that buying bitcoin from the android application is one of the simplest and quickest methods of investing in bitcoin. So, if you are a person who doesn’t know how to invest in bitcoin through an android application, then you should read this article till the end.
Step 1
For signing up on the android bitcoin application, you will need to provide some personal information. Before buying bitcoin, you will also have to follow the KYC standards in which your identity verification is done. You should know that this information generally includes the investor’s name, address, mobile number, bank account number and social security number. So, you should keep all your information ready before you choose to invest in bitcoin through the android app.
Step 2
Today there are numerous android apps available for buying bitcoins. You need to do complete research and choose your platform wisely. To protect yourself from all the frauds, you need to gather all the information about the apps and download only those reputed and reliable applications. Various applications allow users to download them without paying any fee. If you want to buy bitcoin or trade them, you should visit the official app .
Step 3
After choosing the android application, you will have to sign up on that app for creating your account. Signing up is a straightforward process, and it is quick also, which means you will not have to wait long. When you open the android bitcoin app, you will be requested to create your account. To open an account, you will need to fill in your email id, name, and password. You should ensure that you are filling in all the relevant details.
Step 4
First, you need to keep in mind that most android-based bitcoin applications function similarly to the bitcoin exchange, which means they keep all the bitcoin transactions legal and have complete transparency. You need to confirm your identity because the platform will not process forward until you prove to be the person you are claiming to be. You also need to authenticate your phone number and confirm your identity. You should keep one thing in mind: the more verifications you do, the more your limits will be.
Step 5
You might not be aware that the android apps often ask the users to link the bank account to the android app account. You need to note down that the steps for linking your bank account with the android application will differ from one individual to another. When you link your bank account, you will purchase bitcoins.
Step 6
When you complete the verification process and link the bank account, you can start accessing bitcoin by using the new account. You can now start buying bitcoin. There are numerous choices available for making payment, and you can choose the one you like the most. After buying bitcoins, you will have to store them in a wallet which provides enough security to your coins.
There are various options for storing your coins, and you can choose the one you like, but the hardware bitcoin wallet is the best security. You will not have to take tension off your bitcoin when you store them in your bitcoin wallet. However, there can be a situation where it might take 5 to 7 days for bitcoin to arrive in your account because of the bank delays.
Conclusion!
By following these simple and easy steps, you can easily buy bitcoin from an android device. It is the easiest way to start investing in bitcoin, and you will not have to put much effort into it. However, you need to keep in mind that bitcoin is a volatile digital currency, so you should invest safely if you think of buying them.
