A convenient and simple application - Tinkoff Investments - has also become the most popular among Russian users entering the stock market for the first time in 2021.
Customers are invited to take part in stock trading in the US, UK and Russian markets. All this - without excessive commissions or complicated financial reporting. Additional benefits include a robo-advisor to present current stocks and help build an efficient portfolio.
However, Tinkoff Investments and other brokerage apps from banks have a couple of drawbacks:
- tied to a specific bank card: one of the cards of Tinkoff will be required to start working with Tinkoff Investments;
- no access to cryptocurrency, the most productive asset in the market.
Having a card is enough to use other services to buy bitcoin and even - cryptocurrency counterparts of Tinkoff Investments.
Let's consider all methods, their advantages and disadvantages.
P2P, or peer-to-peer trading, involves a direct exchange between users - the buyer receives bitcoins to his address, the seller receives fiat money to his card.
Fiat money is a government currency, such as euros or dollars. With the proliferation of cryptocurrency, the term has become widely applicable, because it allows the distinction between two different kinds of money.
Usually, sellers and buyers find each other on special websites, the equivalent of bulletin boards.
Advantages: the exchange takes place without unnecessary intermediaries and commissions.
Disadvantages: no guarantees and, consequently, a high chance of meeting with fraudsters.
Simple and convenient service with the only option - exchange of cryptocurrency and fiat money in different directions. The enrollment is quite fast - within 10-30 minutes.
You can find a suitable service on special aggregator sites.
Advantages: simplicity and convenience.
Disadvantages: small range of cryptocurrencies (5-15 on average) and high risk of fraud - exchangers do not have registration.
A cryptocurrency exchange is close to a stock exchange - the only difference is that traders operate with digital assets instead of stocks.
They are designed primarily for experienced traders who are familiar with both cryptocurrencies and the intricacies of trading in general.
- security guarantee - most cryptocurrency exchanges operate within a legal framework and are accountable to regulators;
- opportunity to make money from short-term fluctuations in exchange rates.
- complicated interface for the newcomer;
- lack of tools for creating and storing an investment portfolio.
Cryptocurrency investment platforms, similarly to Tinkoff Investments, are designed for novice market participants wishing to increase their capital.
An example of a good platform for cryptocurrency investors is Broex.io. It retains all the advantages of traditional brokerage applications - from a user-friendly interface to virtual assistants. The main feature is access to 30 selected digital assets, including bitcoin.
An additional advantage of Broex over classic stock market brokers is that it accepts VISA/MasterCard, regardless of the bank or region in which it was issued.
- access to 30 high-end digital assets
- support for VISA/MasterCard;
- virtual advisor to advise on the most promising cryptocurrencies and help build investor's portfolio
- security - legal and technical - Broex is licensed by Canadian regulators. User funds are stored in different circuits that do not interact with each other - employee access is restricted;
- user-friendly interface - allows you to start investing in cryptocurrency right now!
- not trading - investment platforms do not offer sophisticated tools and risky strategies for beginners to speculate on rate fluctuations.
Decentralised exchanges, tokenised stocks and cryptocurrency investments - the traditional finance market is gradually merging with the innovation space.
Tesla, Square, MicroStrategy - the world's leading corporations use cryptocurrency as a means of payment and an investment tool.
Digital assets are being recognised by governments of developed countries: bitcoin is held by pension funds in Sweden, New Zealand and Singapore.
Investing in bitcoin and other digital assets is easy. All you need to do is choose a reliable application and create your own portfolio.