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Coinbase, Cash App, Remain Top Rated Places To Easily Buy Bitcoin

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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Cryptocurrencies like Bitcoin or Ethereum are new, emerging financial technologies and assets. The unfamiliarity with the new technology can make getting started in crypto seem like a daunting process.

A handful of companies, however, provide easy access to buy Bitcoin and gain exposure to the crypto market. Of those, the two most popular of those easy-to-use fiat on-ramps remain relatively unchallenged, and according to a new poll, are unlikely to lose their leadership positions.

Coinbase and Cash App Top Crypto Market Poll

Buying Bitcoin is a very easy process, and anyone can do so in just a few steps. Simply sign up to Coinbase or Cash App, add your personal details and bank, debit, or credit card information, potentially upload some documents depending on how much you are looking to buy, and in just a few clicks and no time at all anyone can load up on the first-ever cryptocurrency.

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Related Reading | Square Cash App “Absorbing” 10% of Bitcoin Supply Daily, 200% Projected By 2020

The two brands provide quick and painless access to the crypto market, so it is no surprise that they received the most votes as the crypto community’s favorite places to buy Bitcoin.

Where is your favorite place to buy $BTC?

— Hashoshi (@hashoshi4) October 16, 2019

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The votes were tallied as part of a Twitter poll created by cryptocurrency-focused YouTube personality, Hashoshi. The poll revealed San Francisco crypto exchange Coinbase as the clear leader, followed by the Cash App, and “Other.” Crypto.com was also mentioned but received the smallest amount of votes.

Anyone voting with “Other” was asked to reveal which platforms they use to buy Bitcoin. Common responses included the Voyager app, Level, LocalBitcoins, and the Winklevoss-owned Gemini.

Investors Prefer to Buy Bitcoin on Coinbase or Cash App

It’s certainly not shocking to see Coinbase top the list. It’s easily among the most popular platforms in the United States, where the largest portion of crypto investors reside. At the height of the crypto bubble, Coinbase topped the Apple App Store list of popularly downloaded apps making it a household name alongside Bitcoin.

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Where did you buy your first bitcoin? And where do you buy bitcoins now?

I’ll start: @coinbase, @cashapp

— Zack Voell (@zackvoell) October 16, 2019

Cash App, nearly missed out on the crypto bubble entirely, only first debuting Bitcoin buying to a small subset of users just as the bubble began to pop, and rolled it out to the masses later in 2018.

Related Reading | Steep Fee Hike as Crypto Clamoring for a Coinbase Killer

But the late start didn’t hurt Cash App, which is said to be absorbing as much as 10% of the freshly mined Bitcoin supply each and every day. This number is expected to increase to 200% by next year if the company’s growth projections stay on target.

It’s not all roses for the market leaders, though. Earlier this month, Coinbase raised its fees on its Coinbase Pro platform, causing upset across the industry. However, regardless of the fees, it seems that Coinbase will likely remain the market leader in the days ahead until either Cash App can entirely unseat them from the throne, or until a new leader emerges.

Tags: bitcoinCash Appcoinbasecryptofiat on-ramp
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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