Etrade stock app

Is There an App Like the Etrade Stock App for Cryptocurrency?

Author: Joel S.
October 22, 2018
Read time: 
7 minutes

The Etrade stock app makes day trading stocks easy. Other companies like Ally offer similar programs, all of which are designed to bring day trading to the masses. The popularity of these apps is based on their intuitive user interfaces and simple instructions. Their purpose is to teach people how to make money by trading stocks.

The Etrade stock app makes day trading stocks easy. Other companies like Ally offer similar programs, all of which are designed to bring day trading to the masses. The popularity of these apps is based on their intuitive user interfaces and simple instructions. Their purpose is to teach people how to make money by trading stocks.

Wall Street trading has been around for over 100 years while crypto is barely 10 years young. Compared to stock trading, cryptocurrency trading is in its infancy. Still, there are plenty of day trading apps that make cryptocurrency trading just as easy – if not easier – than day trading stocks using the Etrade app.


What Does the Etrade Stock App Do?

The Etrade app makes day trading easy. The app is a stripped down version of the more complicated tools full-time traders use. Etrade is a digital brokerage. As such, all trades go through their proprietary servers. When people use the Etrade stock app, they’re not making the trades themselves. Instead, they are ordering the trades. Etrade, the company, is responsible for actually executing the trades. This all happens nearly instantaneously, which keeps Etrade users happy.


Etrade vs Ally

Neither of the popular stock trading services operates without fees. However, one of Etrade’s biggest selling points is their commission-free ETFs. The Etrade stock and Ally stock fees are fairly straightforward. Here’s a table that will help you compare the two-day trading options:

stock apps

Downsides of the Etrade Stock App

Etrade suffers from the same institutional failures that plague traditional markets. Despite Etrade stock app’s great interface, users are still constrained by the legal limitations traditional markets have.

  • Every trade involving Etrade stock must go through a broker, which costs money.
  • Using the app mandates trusting a centralized company.
  • When markets close, trades cannot be made.

While the technology is great and fun to use, the market itself is antiquated.


Is Day Trading Crypto Different Than Stocks?

Day trading crypto has its own legal implications and they’re not necessarily the same as the ones involved with day trading stocks. While the differences between these two sets of legal implications will be explored in more detail below, the tech behind the trading process is similar.

  • Both the Etrade app and crypto trading apps make it simple to move your investments around.
  • Users can conduct market and limit orders with Etrade stock and cryptocurrency apps.

Despite their similarities, however, there is one major difference between stocks and cryptos: stocks are securities while cryptocurrencies are commodities.  

The Difference Between Securities and Commodities

On March 6, 2018, a federal judge upheld the decision that cryptocurrencies are commodities and should be regulated by the Commodity Futures Trading Commission (CFTC). Any tokens that are sold to raise money for an idea – like Initial Coin Offerings (ICOs) – are considered securities and are regulated as such. Unfortunately, there is governmental red tape surrounding the purchasing of securities and a license is required to participate in most American ICOs.

So, If stocks are securities and cryptocurrencies are commodities - what the hell is the difference?


  • Stocks represent a percentage of control in a publicly traded company.
  • Bonds are debt where the buyer loans money to a bank or government with the assurance of being paid back in full, with interest.
  • Any kind of debt that can be bought and traded is also a security.


  • Buyers purchase tangible items, such as oil in anticipation of a price increase in the future.
  • Commodities represent tangible items with real-world use.
  • Commodities are valued by scarcity, not by a return on investment from a centralized company.

Day trading crypto vs stocks


How Does Day Trading Crypto Work?

Just like with day trading Etrade stock, crypto has a marketplace. Like the terms “bull markets” and “bear markets,” all the terms used by Wall Street are applicable in the crypto world. There are amateurs and professionals alike, all trying their hand at reading the markets, placing orders, and trying their best to increase their holdings. The majority of cryptocurrency trading occurs on centralized exchanges like Binance and Coinbase.

Centralized exchanges act as a meeting place for crypto traders. Trades that occur on centralized exchanges take place on their private servers. Centralized exchanges facilitate cryptocurrency markets by providing individuals with intuitive trading tools and fast transaction times.


Crypto is Not so Different After All

The similarities between cryptocurrency trading and traditional securities make learning crypto easy for those that are familiar with Wall Street. Here, I’ll cover some common terms and explain what they mean:

  • Market Orders
    Buy or sell orders which take place instantly at current market prices. For many people, this is the easiest way to buy Bitcoin. The term “market order” comes from traditional stock market trading. Cryptocurrency trading takes place on various centralized exchanges. Each exchange aggregates prices differently and it’s not uncommon to see the same cryptocurrency listed at different prices on different exchanges. This makes it possible to trade on many different sites to find the best prices, compared with securities which are regulated by a single authority.
  • Limit Orders
    Buyers and sellers will set a specific price and wait for their favorite crypto to move to their price point. For limit orders to occur, the amount of crypto being bought or sold must be held in escrow via a digital wallet. Unlike traditional markets, cryptocurrency trading never closes. Limit orders on cryptocurrency exchanges can stay open indefinitely without the added difficulty of wild price swings that often occur in traditional markets due to closing times.

    Source: Vitz. Youtube Channel

  • Stop-Loss
    A method of automatically selling a stock or cryptocurrency when its price drops below a certain point. This is used by traders as a safety net to prevent huge losses. However, when the market is tanking rapidly, a stop-loss sell order might be triggered at an extremely low price instead of the set number if it cannot be accommodated at the desired price. Traders can automate their stop-loss orders by inputting the exact price at which wish to sell. If the price drops too low, the crypto is not sold.

In the crypto world, the markets never close. As long as you can find someone willing to trade with you, you’re in business.


Trading Cryptocurrency is More Fun Than Trading Traditional Assets

Federal law mandates the use of brokers for traditional market trading, like Etrade Stock. There is no democracy in traditional markets. Even the simplest orders and trades must first pass through gatekeepers. Unless you like paying enormous fees on every trade for some reason, cryptocurrency trading is far superior. Here are 3 reasons why trading cryptocurrency is better than the stock market:

1. Low fees, if any. Centralized exchanges charge a fraction of a percent on trades. Compared to brokers (Etrade Stock), these fees are minuscule. Even better are decentralized exchanges, which don’t charge fees. Cryptocurrency allows for peer-to-peer trading, so if you really want to get around fees, you can. The best part? No laws require you to register as a trader with the federal government.

2. Open 24/7. It’s my money and I want it now! In the crypto world, the markets never close. As long as you can find someone willing to trade with you, you’re in business. No holidays, no trading hours, no limits.

3. Lack of regulation. When you trade crypto, there’s no need for a Series 7 securities license, whatever that is. Just download a wallet and start investing in crypto. There are limited regulations in the cryptomarket which keeps things simple for first-time investors. It’s not optimal, but it’s OK to jump in without being an expert first; you can learn without anything getting in your way.

crypto world 2018


The Etrade App is Growing, is Cryptocurrency?

The crypto market is growing rapidly and the demand for crypto trading is only increasing:

  • The last 5 years show massive growth. In September 2013, the market cap was stagnant, valued around $1.5 billion. At one time, the overall cryptocurrency market cap was valued at over $800 billion. Currently, it’s hovering around a steady $215 billion. Compare that with the current market cap, and cryptocurrency has experienced a 14,233% growth rate.
  • Volume has shown a meteoric increase. High volume means there are a lot of trades happening. High volume shows the real-world demand for cryptocurrency. At its all-time high, there was a 24 hour period where trades totaled more than $44 billion. The current daily crypto volume is steady at around $12 billion and that’s a hefty number for technology as new as crypto.

With numbers like this, I don’t think there can be any doubt; crypto is growing. Listed below are the top 5 crypto trading apps currently available. Avoid Etrade commissions and start using crypto instead.


The 5 Best Day Trading Crypto Apps for Beginners

With the enormous growth experienced by the cryptomarkets, it should come as no surprise that there has been a flurry of apps aimed at making trading easy. Competition breeds innovation. The following 5 apps make it to the top of our list in terms of ease of use.

Best day trading crypto app

Are You Ready to Start Day Trading Crypto?

With easy to use tools, cryptocurrency trading apps are making the barriers to entry for crypto investing lower than ever. In my opinion, cryptocurrency is easier to acquire than traditional securities. Especially since cryptos are commodities rather than securities, government regulations are few and far between. The Etrade Stock App might be popular but the available crypto apps are just as easy to use.

Maximize your chances of profiting from investing by mastering the basics. Check out our detailed and carefully thought out guide for beginner investors here.

Posted by Joel S.

I believe in cryptocurrency for its privacy aspects and for the autonomy it gives individuals from centralized banks. Cryptocurrency is also fun and exciting: there is always something new to learn.


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