When we mention Bitcoin, one of two reactions takes place. Some people will stare at you blankly whereas others will respond with plenty of enthusiasm and mention their experiences with the currency. In fact, Bitcoin is more than just a currency, it is what’s known as a cryptocurrency and is essentially a form of currency that exists only in a digital format. While we are used to the numbers that we see on screen in our bank accounts able to be drawn out into a physical form, this is not the same process that is applied to cryptocurrencies. The wonder around Bitcoin tends to arise when it comes to the mention of the fact that is decentralised and not regulated by the government or any other body. Bitcoin is entirely unregulated which is why its freedom of movement between peers and businesses in exchange for goods and services is such an appealing concept.
Bitcoin is stored in what can best be described as a digital wallet which can be saved on either a hard drive, online, at a Bitcoin exchange and now (increasingly more so) on your mobile phone. Bitcoin wallets are considered to be a safe place to store your money, however you should take note of the fact that your access to your Bitcoin stash is very reliant on you being able to keep your wallet login code safe- once that is lost your Bitcoins are lost as well!
It was only in 2016 that we saw Bitcoin become recognised as a force to be reckoned with in the modern technological world. This was said to have had a huge impact on us seeing the value of Bitcoin rise to over $1 billion in 2017. The way that Bitcoin has evolved in such a short space of time gives way to the idea that we have only just begun establishing the future in terms of how we will be utilising Bitcoin in our day to day lives in later years.
With Android phones considered to be people’s go to in terms of entertainment, it is safe to say that Bitcoin is set to only transform the way that we use our phones and their respected apps in the months and years that follow. If you are looking for ways to not only keep your wallet in a safe place as well as gain additional insight into the type of Bitcoin applications that there are out for your Android phone, take a look at the following top five Bitcoin apps.
For those of you who are looking to keep their Bitcoins in one safe and familiar place, opt for downloading the free Blockchain app. Blockchain is a wallet app and offer exceptional levels of security to its users as the company behind the app have extensive knowledge of this arena. With Blockchain you can not only send and receive Bitcoins but also have access to view your latest transactions and see 22 different currencies too. This app in particular also offers multiple services including being able to scan paper wallets and scour the local area for shops and businesses that accept Bitcoins. This app is ideal for those who want a reliable source of access to their Bitcoins and the ability to look for places where they can spend the cryptocurrency locally.
Lawnmower is different to the Blockchain app in the fact that its purpose is entirely linked to making investments with cryptocurrency and helps you with earning Bitcoins through using your fiat currency. You can log in to this app via your Coinbase account (this is yet another online space where you can create your very own digital currency wallet and store your Bitcoins) and then begin investing! The Lawnmower app works in rounding up your purchases and then takes the change before converting it into Bitcoins. The Lawnmower app has proven to be a very popular way of earning Bitcoin without having to take your pennies and store them in a jar in your home.
For those of us who are looking for a way to earn more Bitcoins through gameplay, Bitcoin Billionaire is the ideal app to not only entertain you but reward you at the same time. Unlike Lawnmower which allows you to invest your Bitcoins, this app comes in the form of a mobile game based around the idea of mining. You can earn additional coins through tapping the screen and upgrade your mining office in a bid to eventually become a Bitcoin billionaire.