If there's one thing that we can all say with certainty, it's that the days of having to be ultra-wealthy to invest are over. Whether it's investing in the stock market, getting new ETFs, or even getting into the world of cryptocurrency investing, the truth is that you can now make it happen with less money than ever before.
A lot of this new openness is due to the new uptick of micro-investing apps. The majority of the best micro-investing apps are designed to allow you to invest your spare change into the stock market. You might even use ones like Acorns and Stash on a regular basis.
However, that's not to say it's a stocks-only world. If you want, you can use those extra coins to bolster your own cryptocurrency investment portfolio at a fraction of the cost with this super cool app...
Meet Coinflash—the first micro-investing app specifically for investing your spare change in crypto.
Though there are plenty of cryptocurrency investing apps to choose from, Coinflash isn't like most others. Most cryptocurrency investing apps require you to invest a lot of money, or just allow you to brush up on the news involving blockchain.
When it comes to getting low fee transfers and easy cryptocurrency purchases, most people will rely on Coinbase or other exchanges. They also will have to save up money themselves, if they want to invest. Coinflash takes a lot of the tedium out of investing.
Why should you use Coinflash?
If you love the idea of automating your savings or enjoy the idea of being able to instantly invest without having to remember to portion out your budget, you're going to enjoy Coinflash.
Coinflash is relatively exclusive when it comes to investment options. Only top performing coins are offered up. As such, it takes out a lot of the guesswork that comes with investing in crypto, and that makes it an ideal choice for those who are just beginning to invest in Bitcoin or other altcoins.
Before you can begin to invest your spare change in crypto, you're going to need to download the app and sign up for it. It's free on iTunes and Google Play. It's a quick download that has been approved as safe by experts, featured on major sites like Lifehack because it's so good.
In order to actually use the app, you will need to link up a credit card, debit card, or bank account. If you're worried about safety, don't be. The app only reads transactional purchases, and only stores info for about two months.
Linking your card might be a bit tricky, but it's worth it.
Like most other apps that let you invest your spare change into things, Coinflash requires you to link your spending accounts with it. The problem that a lot of people have with Coinflash is that you have to go to their website in order to link up your accounts.
Though it may be a bit of a hassle, it's a one-time thing. After you've gotten everything linked up, you'll be able to stay linked for years to come.
How does Coinflash work?
If you've ever used Acorns or other micro-investing apps, you'll have a good idea of how Coinflash works. With Coinflash, any time a linked card makes a purchase, the app will round up the purchase and deposit the difference into an account that is used to purchase the cryptocurrency of your choice.
Just like with Acorns, you can start investing the moment you feel like it, pause the app when funds are low and restart whenever you're ready. It automatically invests the spare change it collects for you immediately after it's collected. So, there's no need to watch your money like a hawk.
Are there any fees involved?
Just like with any other app that allows you to invest your spare change, you should expect some kinds of fees. Just like with Acorn's fees, Coinflash will charge you about $1 per month, every month of use. That's really not too bad, considering how much transaction fees can cost for Coinbase.
Yes, between the convenience and the typical costs, it's a bargain. Not many other cryptocurrency apps will allow you to invest your spare change so efficiently, you know!
What cryptocurrencies can you invest in with Coinflash?
The coolest thing about investing your spare change with Coinflash is that it's not a one trick pony. You don't have to stick to Bitcoin alone if you don't want to. Currently, Coinflash offers the opportunity to invest in Litecoin, Ethereum, Bitcoin Cash, and a number of others.
It's insane how many cryptocurrencies and Bitcoin mining alternatives have been added to Coinflash's roster. More cryptocurrencies will be included as time continues to roll out, which means that any ICOs you might want to invest in will be there, too. Just be sure you know the signs an Initial Coin Offering is a scam.
Unlike Acorns and other robo-advisor apps, you get a lot more control over what you invest in.
The biggest issue a lot of people have with micro-investing apps, or really any of the best apps for first time investors, is the fact that the app never seems to believe that people will be able to figure out what they should invest in without someone holding their hand.
Coinflash is a bit different than most in this case. This app allows you total control over your investment portfolio. It's nice to have that kind of control, even when it comes to what you invest your spare change in.
That being said, it's worth pointing out that it's still a risky investment compared to more traditional options.
Just like with any other investment, cryptocurrency investments can lose value. Nothing is guaranteed, especially with cryptocurrencies. The volatility of the market means that you never know where the value of your investments may land. However, it's always good to give it a shot—as long as you don't invest money you can't afford to lose.
The First of Many?
If you're wondering whether there are any other apps that could invest your spare change in crypto, don't wonder anymore. Coinseed, a crypto-based app like Stash, allows you to do round-ups or invest in blocks of $5 or less. Robinhood, a more established stock market app, is planning to roll out a cryptocurrency attachment soon enough.
No matter where you look, the future the cryptocurrency market has become brighter than ever before. That's a great thing for investors, as long as you invest sooner rather than later.