Robinhood vs Cash App vs Paypal - What's the best app for Buying crypto?

I don't recommend keeping your savings online on CashApp or Paypal. It's best to use a secure desktop wallet to store your crypto. Payment apps such as Cash App and Paypal makes it easy to send and receive payments on the go, and now also include a few cryptocurrencies. For buying and trading crypto, neither cashapp nor paypal might be your best option. The Coinbase and Binance app will generally have lower fees.

Binance

The winner for crypto trading, whether on the go or elsewhere. Binance has the best app for trading and price alerts.

Trading fees as low as 0.1%.

Buying / Deposit fees: 4% 

Coinbase

A very user-friendly and popular among beginners. $5 signup bonus. 

Easily track crypto prices, watchlists, and your portfolio, and learn about crypto with the Coinbase learn and earn program.

Buying/Deposit Fees: from 1% - 4% - variable fees.

Trading fees: 0.50% for trades up to $10k, - then variable fees.

CashApp

Buying fee: 4%

You can now buy Bitcoin with your CashApp balance, or linked credit/debit card, which is pretty cool.

Members can also get a customizable debit card from cashapp, which offers cash back in the form of bitcoin in select stores. Get $5 for signing up with Cash App by using the code TWQZPTH

Only Bitcoin is available to trade in the app so far. Cash App also has a stock market where you can buy fractions of a stock for as low as $1. Which puts it in direct competition with Robinhood.

Robinhood

The popular app for buying and trading stocks, now also offers cryptocurrencies. Currently with free trades between a dozen coins. However, it is not a wallet, and you can't send or receive coins. Users report having a hard time withdrawing their crypto when they need it.

PayPal

On Paypal you can now choose from Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Invest as little as $1 , and enjoy the same protections/risks you're used to with PayPal.

Also Read: Best cryptocurrency wallet, and Comparing Crypto Credit / Debit cards


Comments

  1. Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Information about Robinhood Crypto’s state licenses can be found here and you can see our full Crypto Risk Disclosure here.

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