Circle app aims to be a Coinbase competitor

The Circle Invest App On Testflight

Just recently we were sent an invitation code to give the new Circle Invest app a test, so we decided to give our readers a sneak peek before the official release. The company Circle is a well-known firm in the bitcoin space founded in 2013 by Jeremy Allaire and Sean Neville. A lot of venture capital has been injected into Circle to the tune of $136 million USD from investors like IDG Capital Partners, and Goldman Sachs. When the company first started it sold BTC to customers through an iOS and Android app but stopped the service back in 2016. Following this pivot the firm operated by offering large over-the-counter sales to investors internationally.

Then back in November of 2017 Circle announced the launch of the new service which claimed it would offer custodial accounts, no commissions, liquidity, and multiple cryptocurrencies. At the time the company said Circle Invest would feature bitcoin core, ethereum, ripple, bitcoin cash, and litecoin. The beta version of Circle Invest 1.0.0 only has bitcoin core, ethereum, bitcoin cash, ethereum classic, and litecoin at the moment. It’s unclear right now if the ripple will be added at a later date. During our review, we tested the Apple beta release, but the company has stated an Android version of Circle Invest will also be launched.

Five Different Digital Assets

Opening the app users are given the familiar Circle theme with an interesting pastel color look. Anyone who is comfortable with Circle’s older platform or even the latest Coinbase application should have a good understanding on how to use the platform. There are multiple sections within the app that shows your portfolio, log-charts for ETH, BTC, LTC, BCH, and ETC. The price charts for each currency also display the market movements in a one day, week, and yearly view. Moreover, the app will give you the loss and gain percentages for each period. All of the currencies can be seen in unison with a quick scroll as well.

Just like Coinbase in order to utilize the Circle Invest app users have to verify their identity. An authenticated identity will allow an individual to purchase and sell the listed cryptocurrencies using the platform. To purchase digital assets with the Circle Invest platform, a bank account must be tethered to the application, and there are many banks to choose from. The app includes a profile section, bank accounts, security settings, and a help section. The help section will lead a user to Circle’s support center.

Eerily Similar to the Coinbase App, But That’s Probably the Point

Overall the platform was almost indistinguishable from the Coinbase mobile app minus the pastel colors, the Circle logo, and the additional ethereum classic listing. This strategy may be kind of unoriginal but a good idea for Circle if they want to onboard unhappy Coinbase customers or those who are familiar with the San Francisco firm’s services. If Circle can maintain the no commissions promise, and offer the same customer service it had provided in the past, it’s likely the new platform will do well with both cryptocurrency newbs and veterans.