Kovar Capital; Cryptocurrency

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Any advice for a cryptocurrency novice? Specifically, what app do I get so I can start investing? - Silas

Hey Silas: This is a great question with a lot of different answers depending on who you ask. It comes down to personal preference and the type of investing you want to do, because certain coins are only available in certain places. Here are three options I know about, but you may want to do some additional research to see if there’s something else out there you’re interested in.

• Coinbase. This is by far the most popular, and you may have read about the fanfare when the company went public a little while back. You can buy and sell over a hundred different coins and have the option to pay more for Coinbase Pro, which offers lower trading fees if you’re super active. It’s an easy-to-use app with lots of liquidity. This app is where most people get started.

• Voyager. Another publicly-traded company with FDIC-insured cash holdings, Voyager doesn’t charge commission on trades and connects you to multiple exchanges with over fifty coins available. The app has a simple interface and you can earn interest on your assets if your account meets the minimum balance. Not as many coin choices as Coinbase, but you’ve got access to heavy hitters like Bitcoin and Etherium, plus a bunch of others.

• Cash App. For some people, cryptocurrency is still synonymous with Bitcoin. If that’s how you feel, Cash App will be right up your alley. Bitcoin is the only crypto supported by this app, but you can actually use it like money instead of just investing and holding. The Cash App lets you transfer coins the same way you would money, paying back friends or even buying goods where Bitcoin is accepted. You can use the Cash App for a lot of different things, so if you only want to dabble in Bitcoin and send money to friends, this is a solid option.

Cryptocurrency is a popular investment right now, so I hope you find a trading app that works for you. Good luck!

Disclosure: Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. To submit a question to be answered in this column, please send it via email to Question@GoFarWithKovar.com, or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.

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