2018-9-28 19:49 |
Robinhood and Square are two of the most popular mobile cryptocurrency trading apps. While Robinhood is designed for people who want to trade in cryptos regularly, Square helps to make crypto buying and sending simpler. But a new app that was officially launched on Sept. 2 could help even newbie investors get a taste of crypto investing. This new app is called Crumbs.
How Does Crumbs Make Crypto Different?Crumbs allows users to buy cryptocurrencies. It rounds up their credit and debit card purchases and uses the spare change to purchase from a pool of cryptocurrencies. It also allows users to trade in more than a dozen cryptocurrencies instantly. Crumbs was acquired earlier this year by Metallicus, Inc. The parent company runs Metal Pay, a peer-to-peer payments app. In the future, Crumbs will be fully integrated with Metal Pay and users will be allowed to instantly transfer their USD and crypto balances from one app to another.
Crumbs intends to offer a friendly and secure environment for new investors to purchase and learn about digital currencies. A press release by the company states:
“Crumbs embraces compliance and the internal compliance, and legal teams are working closely with regulators to ensure it is operating within the boundaries of regulation.”
The app will initially be available to US residents in 34 states. The app entered public beta in late July this year. Cryptos available on the platform included Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Stellar Lumens, Monero, Dash, Ethereum Classic and others.
Should Robinhood and Square Be Concerned?What differentiates Crumbs from Square and Robinhood is that the app is designed for crypto newcomers. While Robinhood and Square make crypto trading and use easy, Crumbs specifically targets those who have never used crypto before or do not have much knowledge of this sector. It offers users portfolio selection, which helps them in deciding whether they want moderate exposure to cryptocurrencies or prefer a more aggressive method.
There does not appear a reason for Square and Robinhood to be concerned as of now. However, users can be happy as the new app provides them with a way to trade in cryptocurrencies without hassle.
Crumbs Cryptocurrency Trading App Takes on Robinhood and Square was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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