AmberApp Review: Mobile-First Bitcoin Exchange

Description

Amber is a bitcoin-only exchange designed to help you accumulate Bitcoin using the recurring buying method or the DCA (Dollar-cost averaging). The service supports the Lightning Network for fast and cheaper transactions, while also incorporating LNURL for quick and easy lightning receives.

Unlike most Bitcoin exchanges, Amber is subscription-based, offering two plans, Basic and Black. The availability of certain features and fees depends on the selected plan.

How AmberApp Works

You can sign up to Amber Bitcoin app by entering your email address and a code sent to it, mobile phone number, date of birth, and full name on iOS and Android. The service requires mandatory identity verification (Know Your Customer verification). You will need to attach a photo of the document that proves your identity. After passing the procedure, select the subscription type, and add a payment method, including debit/credit cards, Google/Apple Pay, PayID, ACH for US users, and EFT. Every time you log in to your account, a verification code will be sent to your email. Amber highly recommends turning on an email 2FA to protect your account more.

To facilitate easy transactions on the Amber app, there’s no requirement to manually copy/paste invoices or scan QR codes. Instead, you have the option to establish your own custom Lightning Address. This personalized identifier functions similarly to an email address, ending with the ‘@amber.app’ suffix. It’s important to know that, once set, this Lightning Address remains fixed and cannot be edited or altered.

Amber Basic

Choosing a basic plan allows you not to pay for using the service, sell and buy bitcoin instantly, and utilize daily, weekly, and monthly recurring purchases. Free features also include a 24-hour secure delay: you can postpone your transaction processing for 24 hours for more security. It eliminates the need for a third-party payment processor or intermediary. Furthermore, export your transaction history into a CSV file for tax purposes.

Amber Black

Amber offers to upgrade to its Black plan in order to get access to more features. It has a 7-day trial period during which you will not be charged and can decide if you would like to continue with the membership. The subscription costs 13 USD/month if billed every month, or 10 USD/month if billed annually. It proposes, in addition to the Basic plan, the following features:

• 0% fees for buying and selling bitcoin (for the amount up to $200k);
• slim spreads;
• automated withdraws into a hardware wallet or another bitcoin wallet;
• intelligent automations: you set a percentage move, time frame, and an amount to buy or sell. Available automations: Buy the Dip, Buy the Schiff, Stack like a Saylor, Fear and Greed, Mayer Multiple, and Sell the Pump;
• 1 free bitcoin withdrawal per month;
• Intraday recurring purchases, custom automations, limit orders, and smart alerts and notifications are upcoming.

Amber Bitcoin Fees and Limits

The minimum amount to deposit is $20, there is no maximum. You can purchase bitcoin instantly or set up recurring investments starting at $5 per month.

Is Amber App Legit and Safe?

AmberApp is a reputable company established in 2017 in Brisbane, Australia. It operates within the bounds of the law, being licensed in both Australia and the United States, ensuring compliance with regulatory standards in these jurisdictions. As part of its commitment to security, AmberApp uses cold storage within a collaborative multi-signature setup for its custodial wallets. This approach enhances the safety of users’ assets by storing them offline and requiring multiple authorizations for any transaction, thereby affirming the legitimacy and security measures upheld by Amber.

More Information

• Amber on Twitter
• Schedule a setup assist
• FAQs