These crypto apps have been researched, reviewed, confirmed, vetted, re-vetted, and then ranked based on important categories, such as: account minimum, trading costs, account fees, selection, ease of use, sign-on bonus, education, and customer service. After all that, these are the crypto apps that made the grade.
Compare the Leading Crypto Apps
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.7 | Visitetoro.com | Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. | ||
8.7 | Visitcrypto.com | |||
8.4 | Visituphold.com | |||
8.4 | Visitcoinbase.com | |||
7.6 | Visitkraken.com | |||
6.8 | Visitbitstamp.net | |||
6.5 | Visitcoinjar.com | |||
6.5 | Visittradestation.com | |||
6.0 | Visitrobinhood.com | |||
10Webull | 8.3 | Visitwebull.com |
Top 10 Crypto Apps Compared & Reviewed
Here’s a quick summary of the best apps on offer;
eToro - Overall best Crypto app
Crypto.com - Best Crypto app for beginners
Uphold - Best Crypto app for transparency
Coinbase - Best Crypto app for the biggest number of coins
Kraken - Best Crypto app for customer support
Bitstamp - Best Crypto app for low fees
Coinjar - Best Crypto app for making payments
TradeStation - Best Crypto app for analytical tools
Robinhood - Best Crypto app for UI
Webull - Best Crypto app for commission-free trading
1. eToro - Overall Best Crypto App
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.7 | Visitetoro.com | Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. |
- The app is very intuitive and easy to navigate.
- You can match better-performing traders using CopyTrader feature.
- It's possible to diversify your portfolio with a range of assets.
- It's not available in all states.
- The market research tools have room for improvement.
Toro maintains an excellent industry reputation due to its intuitive mobile application and unique features that appeal to investors with a range of cryptocurrency trading experiences. Among its most outstanding features is the flagship CopyTrader capability, which allows traders to copy advanced traders and crypto portfolios automatically.
eToro's social trading functionalities enable traders to create posts and comments, exchange tips and ideas, and more on every asset and investor page. Traders can also advance their knowledge through eToro's far-reaching educational library, eToro Academy.
The trading dashboard features various functionalities, allowing traders to execute and manage trades easily. The available cryptocurrencies are displayed with their percentage gains or losses over a selected time frame, giving traders an idea of the overall market conditions and trends. To place an order, select the crypto you wish to trade, and click on place order (if the cryptocurrency isn’t visible, you can add it by typing the ticker symbol into the search bar).
The lower section of the dashboard lets you manage your open trades and view closed orders. If you have open trades, you can click on ‘my trades’ and decide to close the order or edit your risk management parameters on the go.
Key Information
Trading fee | 1% |
---|---|
Additional fees | $10 per month inactivity fee |
Withdrawal fees | $5 |
Minimum order value | $10 |
Minimum deposit | $50 |
Rating on Apple Store / Number of reviews | 3.8 based on 7.8K reviews |
Rating on Google Play / Number of reviews | 4.2 based on 123K reviews |
2. Crypto.com - Best Crypto App for Spending Crypto
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.7 | Visitcrypto.com |
- You can spend crypto directly and earn cashback with a reward debit card.
- There's a wide range of options to earn crypto.
- The pricing structure is straightforward and competitive.
- The customer support is poor.
- Cashback rewards are paid in Cronos (CRO), which means they may fluctuate in value.
Crypto.com is a versatile app that allows users to easily buy, sell, and store cryptocurrencies. Its user-friendly interface and simple navigation make it easy to use for both beginners and experienced traders alike.
Among the most useful features of the app is the ability to spend cryptocurrencies using the Crypto.com Visa Card. A debit card in essence, it allows users to convert their cryptocurrencies into fiat currency and spend it at any merchant that accepts Visa. It also comes with perks, such as cashback rewards and discounts on certain transactions.
In addition to the Visa Card, the app offers a variety of other features such as staking, lending, and earning interest on crypto holdings. It also packs market insights and price alerts to keep users up to date with the latest developments.
Overall, Crypto.com is a solid choice for those looking for a versatile and user-friendly app to manage their cryptocurrency portfolio. The ability to easily spend crypto using the Visa Card is a major plus, and the app's other features such as staking and earning interest make it a great all-in-one app for crypto enthusiasts.
Key Information
Trading fee | Starting from 0.075% |
---|---|
Additional fees | 2.99% for credit card purchases |
Withdrawal fees | Varies based on coin |
Minimum order value | No requirement |
Minimum deposit | No requirement |
Rating on Apple Store / Number of reviews | 4.5 based on 123K reviews |
Rating on Google Play / Number of reviews | 4.6 based on 427K reviews |
3. Uphold - Best Crypto App for Transparency
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.4 | Visituphold.com |
- You can sign up for a rewards debit card with no additional charges.
- There is an extensive range of cryptocurrencies available.
- The fee structure is transparent and easy to understand.
- Spread fees can be steep for altcoins.
- Customer support is limited.
- There’s no volume discount for larger trades.
Uphold is the place to trade uncommon and hard-to-find crypto assets with an impressive offering of over 250 cryptocurrencies and stablecoins. The app takes pride in offering a transparent service that doesn’t charge hidden fees for depositing and withdrawing funds. Investors can get started with Uphold for as little as $1 by using various payment methods like credit/debit cards, bank accounts, wire transfers, Apple Pay, and Google Pay. The company is regulated by FinCen and the relevant governing bodies in each state to ensure they comply with fair financial practices.
Like other crypto trading apps, Uphold lets users create and customize their trading dashboards based on their needs. This includes adding watchlists that allow investors to focus on their favored crypto assets and analyze them independently.
According to Uphold, all transactions and holdings are published in real-time to provide transparency without compromising users’ privacy.
Key Information
Trading fee | Starting from 0.9% / 1.2% |
---|---|
Additional fees | $0.99 if the transaction amount is under $100 |
Withdrawal fees | 0% |
Minimum order value | No requirement |
Minimum deposit | $10 |
Rating on Apple Store / Number of reviews | 4.5 based on 29K reviews |
Rating on Google Play / Number of reviews | 4.5 based on 35K reviews |
4. Coinbase - Best Crypto App for Coin Variety
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.4 | Visitcoinbase.com |
- The app is easy to use and geared towards beginners.
- There is a range of staking options.
- There’s a wide selection of coins to trade.
- Transaction fees can be steep.
- There are some occassional issues with customer service.
- The fee structure can be difficult to understand.
Coinbase is a popular and user-friendly app that offers a straightforward way for beginners to get up to speed.
The app packs a variety of tools and educational resources for beginners, such as an extensive knowledge base and a "Learn to Earn" program that rewards users for learning about different cryptocurrencies. Besides a wealth of innovative educational resources, it also supports an incredibly user-friendly interface that comes with no learning curve.
One of the biggest draws of Coinbase is its reputation as a secure and trustworthy app. The app follows strict security protocols, including two-factor authentication, SSL encryption, and biometric login options, ensuring that user accounts are safe and secure.
On the whole, with its user-friendly interface, excellent security features, and educational resources, Coinbase provides a solid foundation for new starters.
We compared Coinbase and Crypto.com, two industry giants. Make sure to read through if you're deliberating between the two.
Key Information
Trading fee | Starting from 0.40% / 0-0.60% |
---|---|
Additional fees | Coinbase Wallet Currency Conversion fee of 2.49% when using Coinbase Credit |
Withdrawal fees | 1% |
Minimum order value | $2 |
Minimum deposit | Coinbase recommends an initial deposit of $50 |
Rating on Apple Store / Number of reviews | 4.7 based on 1.7M reviews |
Rating on Google Play / Number of reviews | 4.1 based on 723K reviews |
5. Kraken - Best for Customer Support
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
7.6 | Visitkraken.com |
- One of the safest exchanges available, never been hacked.
- The app is easily navigable.
- There’s a solid range of coins offered.
- The basic account comes with high fees.
- The payment options are limited.
Kraken provides one of the best customer support teams in the crypto space. You can reach a Kraken support agent 24/7 by live chat, email, and phone. Cryptocurrency exchanges are not known for good customer support, and it is rare to find an exchange with so many live support options. The app allows you to deposit money instantly using debit/credit card, digital wallet purchases, and ACH. The app lists 185+ digital currencies, and the mobile crypto trading apps are optimized for a great user experience. You can start by heading to the Learn Center if you’re just starting out.
The trading dashboard is suitable for beginner to advanced investors and provides various trading tools and indicators to help traders make informed decisions. Some of these include technical analysis like volume profile and momentum indicators that can be added with the click of a button.
Key Information
Trading fee | Starting from 0.26% |
---|---|
Additional fees | No additional fees |
Withdrawal fees | Varies based on the coin |
Minimum order value | Varies based on the coin |
Minimum deposit | $10 |
Rating on Apple Store / Number of reviews | 4.7 based on 2.6K reviews |
Rating on Google Play / Number of reviews | 4.3 based on 20K reviews |
6. Bitstamp - Best for Low Fees
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
6.8 | Visitbitstamp.net |
- There’s a phone line and a dedicated in-app customer support service.
- The app is easily navigable and beginner-friendly.
- There’s an advanced trading app available.
- The coin collection is limited, and it misses some major coins.
- The app was hacked in 2015, though they implemented new security measures since.
Bitstamp has been around since 2011, which makes it one of the oldest centralized crypto exchanges. The app offers no crypto trading fees for trades of up to $1,000 over a 30-month period, making it ideal for cryptocurrency traders who only need to buy and sell small amounts. The app holds funds in 1:1 custody, which means each customer can withdraw funds at any time.
Bitstamp app is quite intuitive to use as traders can add cryptocurrencies, analyze them, and trade on a single dashboard. The charting package features multiple timeframes that help investors view the price charts from various perspectives.
Key Information
Trading fee | No fee for transactions under $1,000 within 30 day period |
---|---|
Additional fees | 15% staking fees |
Withdrawal fees | Varies based on the coin |
Minimum order value | $10 |
Minimum deposit | $10 |
Rating on Apple Store / Number of reviews | 4.8 based on 5K reviews |
Rating on Google Play / Number of reviews | 3.7 based on 12K reviews |
7. Gemini - Safest App to Buy Crypto
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
7.2 | Visitgemini.com |
- The app is available in all 50 states.
- The hot wallet is backed up by digital asset insurance, meaning that they are covered in the event of a security breach.
- The firm is very committed to user security.
- The coin selection is not extensive.
- Trading fees can be fairly steep.
Gemini routinely tops the list of the leading app to buy cryptocurrencies due to its sleek interface, a wealth of informational materials, and far-reaching security measures. Besides the industry-standard security features like 2FA, Gemini is also SOC 2-certified, which is a voluntary compliance standard regarding safeguarding customer data. The app also features advanced charting tools along with multiple order types, appealing to advanced traders as well as novices.
Gemini’s trading app provides advanced market information featuring the spread, bid and ask prices, historical data, and real-time market data at a glance. To buy or sell crypto, you simply have to select the order type, input the price (for limit orders) and click on the ‘buy’ or ‘sell’ button.
Key Information
Deposit fee | Varies based on the deposit method |
---|---|
Trading fee | $0.99 to 1.49% of your Web Order value |
Additional fees | 0.5% convenience fee for app use |
Withdrawal fees | Varies based on the coin |
Minimum order value | Varies based on the coin |
Minimum deposit | No requirement |
Rating on Apple Store / Number of reviews | 4.8 based on 93,3K reviews |
Rating on Google Play / Number of reviews | 4.4 based on 46,3K reviews |
8. TradeStation - Best for Analytical Tools
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
6.5 | Visittradestation.com |
- The app is highly customizable.
- You can branch out to trade other assets, including stocks, ETFs, and options.
- You get professional-grade trading tools and an advanced charting package.
- The learning curve is steep.
- The coin selection is very limited.
TradeStation offers award-winning analytics software tools to help customers gather information, make decisions, and create a winning crypto trading strategy. Also, the app provides one-click order entry and UI customization options to have a unique crypto trading experience. The company is regulated by NFA, FINRA, and other government-appointed regulators. A trusted name that has been in the finance industry for over 30 years, Tradestation is one of the more established brands on this list.
The TradeStation app provides a selection of momentum indicators and technical trading tools to help traders decide which cryptocurrencies to trade. The cryptocurrency quotes are updated in real-time, and the price alerts can be used to monitor the markets without having to worry about missing trade opportunities.
Key Information
Trading fee | Varies |
---|---|
Administration fee | $100 per year |
Withdrawal fees | 0.000075 BTC |
Minimum order value | No requirement |
Minimum deposit | No requirement |
Rating on Apple Store / Number of reviews | 4.6 based on 16K reviews |
Rating on Google Play / Number of reviews | 3.8 based on 5.27K reviews |
9. Robinhood - Best App for Risk Management Features
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
6.0 | Visitrobinhood.com |
- The app is very sleek, intuitive, and comes with no learning curve.
- You can trade cryptocurrencies commission-free.
- It's possible to branch out to include other assets into the mix, including stocks and ETFs.
- The app is not available in all states.
- The cryptocurrency selection is limited.
- The outfit has faced several security breaches in the past.
Robinhood was a pioneer in minimizing the entry barrier for novice traders with no-commission trading and a simplified interface. The firm was also an early adopter of the mobile-first approach, after which many other providers followed suit, and still has one of the most user-friendly interfaces in the industry.
The app included cryptocurrency trading into its offerings in 2017, and despite having a limited number of currency pairs, it has been highly regarded among crypto traders. Among its outstanding features is the Market Order Collaring capability, which helps protect trades against volatile cryptocurrencies.
The dashboard features top movers on-screen and this allows traders to see the most volatile assets for the day without any hassle. It’s easy to switch timeframes by clicking on the different timeframes at the bottom of the chart and other chart settings can be customized via the settings icon.
Key Information
Deposit fee | $0 |
---|---|
Trading fee | $0 |
Minimum order value | $1 |
Minimum deposit | $0 |
Rating on Apple Store / Number of reviews | 4.2 based on 4M reviews |
Rating on Google Play / Number of reviews | 3.9 based on 10M+ reviews |
10. Webull - Best App for Commission-Free Trading
Name | Score | Visit | Disclaimer | |
---|---|---|---|---|
8.3 | Visitwebull.com |
- There are no trading fees.
- The platform is very user-friendly.
- The trading mechanism is versatile, and involves an advanced charting package.
- The coin selection is very limited.
- The tools for portfolio management have room for improvement.
Based in New York, Webull is often ranked among the cheapest app to buy crypto: the app has a no-commission policy and there are no minimum deposits, meaning that you can trade $1 at a time, making it ideal for those who are getting started on a low budget. New Webull customers can also get rewarded $5 by completing the first trade or referring friends to use the app.
Much like eToro, Webull is also highly regarded for its interactive trading experience. The app offers social feeds through which investors can exchange ideas, comment on market behavior, ask any question, and more. Besides social trading, the application supports a straightforward interface with all components neatly organized, appealing the most to novice traders.
Key Information
Trading fee | $0 |
---|---|
Additional fees | 100-basis point on both sides of a trade |
Minimum order value | $1 |
Minimum deposit | No requirement |
Rating on Apple Store / Number of reviews | 4.7 based on 275.2K reviews |
Rating on Google Play / Number of reviews | 4.4 based on 174K reviews |
Our Methodology
To choose our top cryptocurrency apps, we went through a handful of factors, like fees, usability, additional features, and choice of crypto.
All our recommendations include popular cryptocurrencies, such as Bitcoin and Ethereum, and many also include crypto-to-crypto trading pairs and secure Wallet features. But we get that not everyone is a seasoned trader. For those starting out, we’ve made sure our apps have the right educational tools and research features to help you get up to speed.
To save your time and energy, we’ve also included apps offering additional banking features, such as stock trading and personal loans.
What Is Cryptocurrency?
The textbook definition will tell you that cryptocurrency is a form of digital currency created using encrypted algorithms and blockchain technology—popular cryptocurrencies include Bitcoin, Ethereum, and Litcoin, as well as lesser-known cryptocurrencies (altcoins).
To help you understand, let’s compare this to other types of trading you might be familiar with. Say you’re at an amusement park. There are two rollercoasters named crypto and stock trading. Both are pretty volatile, with a whole load of ups and downs.
The stock trading rollercoaster plunges you into darkness—so it can be pretty tricky to predict what’s around the bend if you’re unfamiliar with the layout (making it difficult to know when to buy or sell.)
Crypto is also fairly rocky, with rapid highs and lows that mean you could win big or lose in a single day—but unlike stock trading, the cryptocoaster is highly unsupervised, leaving it vulnerable to hackers and cyberattacks.
So, how do you keep everything secure while you're on the ride?
Crypto wallets store all your crypto and digital assets. Many opt for a non-custodial wallet, so you have total control over your private keys.
But if you’re always hitting that “forgotten password” button, a custodial wallet shifts that responsibility to a third party or crypto exchange to keep your keys (and password) in safekeeping. Back to the park.
There’s a rollercoaster similar to crypto—let’s call it forex trading. Both have their ups and downs, but unlike stock trading, the price fluctuations are driven by supply and demand (totally depending on how many are buying). Now, let’s leave the amusement park before all this makes you dizzy.
Learning how to speculate on price movements, reading the market, and keeping an eye on the buyers and sellers will all give you a head start when getting into cryptocurrency.
What is a Cryptocurrency App?
A cryptocurrency app is a software application that allows you to buy, sell, and manage your cryptocurrency investments. These apps can be used on a variety of devices, including smartphones, tablets, and desktops, and are often available for free or for a fee.
Cryptocurrency apps can vary widely in terms of their features and functionality. Some apps may offer basic functionality, such as the ability to buy and sell a limited selection of cryptocurrencies, while others may offer more advanced features like margin trading, charting tools, and price alerts.
Many cryptocurrency apps also offer built-in cryptocurrency wallets, which allow you to securely store your cryptocurrency holdings and manage your transactions. Some apps may also offer integration with third-party wallets or other tools and services, such as tax software or trading bots.
Crypto trading apps are often provided by different types of companies;
1. Crypto Brokers
A cryptocurrency broker is a person or company that acts as an intermediary between buyers and sellers of cryptocurrencies. Cryptocurrency brokers facilitate the buying and selling of cryptocurrencies by offering an app where buyers and sellers can connect and trade cryptocurrencies.
When you use a cryptocurrency broker, you typically buy or sell at a price set by the broker. The broker takes a commission or a spread on each transaction and handles the process of exchanging fiat currency (like US dollars) for cryptocurrency. Cryptocurrency brokers may also offer additional services, such as education and analysis.
Cryptocurrency brokers are often a good choice for new investors who are just getting started with cryptocurrencies and may be overwhelmed by the complexity of cryptocurrency exchanges. Brokers can offer a simpler and more user-friendly experience for new investors, as they handle the details of the transaction and often provide additional services like customer support and education.
2. Crypto Exchanges
Cryptocurrency exchanges facilitate the buying and selling of cryptocurrencies by providing an app where buyers and sellers can connect and trade cryptocurrencies.
When you use a cryptocurrency exchange, you typically buy or sell at a price determined by the market. The exchange takes a commission on each transaction and provides an app for buyers and sellers to connect and trade cryptocurrencies. Cryptocurrency exchanges may also offer additional services, such as wallet storage, charting tools, and order types.
Cryptocurrency exchanges are often preferred by more experienced investors who have a good understanding of the cryptocurrency market and want more control over their trades. Exchanges can offer more flexibility and control over the buying and selling process, as buyers and sellers can set their own prices and negotiate directly with each other.
There are 2 main types of exchanges; centralized and decentralized.
Centralized Exchanges (CEX)
Decentralized Exchanges (DEX)
3. Payment Apps
Payment apps such as PayPal and Skrill allow users to buy, sell, and store cryptocurrencies using their existing accounts without the need to create an account on a cryptocurrency exchange or broker. This can be convenient for users who are new to cryptocurrencies or who prefer to keep their financial transactions consolidated on a single application.
However, it's important to note that payment apps typically charge higher fees than traditional methods of buying and selling cryptocurrencies, such as bank transfers or credit card payments. These apps may also not offer all of the features that cryptocurrency exchanges and brokers provide, such as margin trading or limit orders, which many traders enjoy using to manage their investments.
One advantage of using payment apps for buying and selling cryptocurrencies is the ease of use and accessibility. These apps often have user-friendly interfaces and a variety of payment options available, including credit cards, debit cards, and bank transfers.
Picking the Best Cryptocurrency App
Now let’s take a closer look at how to choose the best cryptocurrency apps that match your requirements. Think of this section as a checklist you should consider before downloading your next crypto app.
Regulatory Compliance and Security
Crypto trading apps have to operate within certain regulatory frameworks set by the countries in which they are based. In the United States, the Securities and Exchange Commission (SEC) is responsible for overseeing cryptocurrency transactions while the Financial Conduct Authority (FCA) regulates crypto trading activities in the UK.
To ensure users' safety, these agencies regulate crypto trading apps with strict compliance requirements such as KYC checks, investor protection rules, money laundering prevention measures, capital preservation guidelines, and other security protocols.
Regulatory compliance is critical to the security of a trading app, but it's not the only factor to consider. Multiple layers of account protection are also important, including SMS verification codes, email alerts for suspicious activity, cold storage solutions for digital assets, and other technologies that offer an extra layer of security. For example, Kraken provides multiple layers of encryption and hosts 'bug bounty' programs to ensure security threats are detected and eliminated.
The most sought-after security measure for a crypto trading app is cold storage. Put simply, cold storage refers to keeping digital assets in disconnected, offline wallets to prevent unauthorized access and reduce the risk of cyber-attacks. This ensures that your funds and deposits remain secure even if the crypto trading app or company fails or gets hacked. Most crypto trading apps prefer to keep a portion of their funds in cold storage to protect their customers, leaving the rest in hot storage as liquidity for faster withdrawals and deposits.
Before choosing a app, consider looking at the types of security measures they offer and make sure it is up to industry standards.
SOC 2 (Service Organization Control 2) is a set of standards established by the American Institute of Certified Public Accountants (AICPA) that evaluates the security, availability, processing integrity, confidentiality, and privacy of a service provider.
It provides a framework for auditing and reporting on the effectiveness of a company's internal controls and processes related to the protection and handling of customer data. A company that is SOC 2 compliant has been independently verified as meeting these standards and is considered to have a higher level of security and reliability in its services.
SOC 2 is a voluntary compliance standard, and we see a growing trend among cryptocurrency apps to adhere to it. If you value security above all, which is wise to do so amid major applications crashing down, you can seek SOC 2 compliance for peace of mind. Currently, Gemini and Crypto.com are among the major SOC 2-certified crypto apps.
App Features
When looking for a crypto trading app, it is important to consider the features offered by the application. Some of the key features to look out for include;
QR Scanner – This feature allows users to quickly scan a QR code and initiate a trade without having to manually enter long wallet addresses. This can be useful for sending and receiving crypto payments quickly and securely.
Push Notifications – Most trading apps offer push notifications that alert users when their orders have been placed or filled. This helps them stay up-to-date in real-time with developments on the market and can be useful for tracking trades and managing an investment portfolio.
Multiple Order Types – Different order types allow traders to manage their risk more effectively and execute trades with greater precision. Examples include limit orders, stop orders, margin calls, and trailing stops.
Portfolio Management and Customizations – Most crypto apps provide users with the ability to track their portfolio performance in real time, including all the different coins they own. This can help you spot trends in the market and make informed decisions about when to buy or sell cryptocurrencies. To make trading seamless, ensure the app automatically syncs with other trading apps, you use, such as a web trader or desktop platform.
Social Trading – Social trading allows users to copy the trades of more experienced traders, allowing them to gain insights into the market without having to do all the research themselves. For instance, eToro provides access to social trading by allowing clients to interact and copy trades on the mobile app.
Tradable Cryptocurrencies
The range of cryptocurrencies offered on a crypto trading app is an important factor to consider as more often than not, the crypto assets available on the trading app could differ significantly from one another. Generally, most crypto trading apps offer the major coins such as Bitcoin, Ethereum, Ripple and Litecoin but may also offer more exotic coins such as EOS, Tezos, or Cardano.
When choosing an app to trade cryptocurrencies, it is important to consider the types of coins offered. These include;
Utility tokens – These are digital assets that give users access to products or services offered by a company on their blockchain-based platform. Examples include Binance Coin (BNB), Aave (LEND), and Chainlink (LINK) or XRP since it's used for cross-border payments.
Security tokens – Digital securities that represent an investment in debt or equity, usually backed by real-world assets such as venture funds, real estate or commodities. Examples include Celsius Network (CEL), Polymath (POLY), and Neufund (NEU).
Stablecoins – Cryptocurrencies with a stable value often tied to fiat currencies, commodities, or an index fund. They provide users with the stability of traditional money while allowing them to buy, sell and store cryptocurrency securely. Examples include Tether (USDT), TrueUSD (TUSD), and USDCoin (USDC).
Exchange tokens – Digital tokens created by exchanges that allow users to access a variety of features on the application, such as discounts on trading fees or access to exclusive market data. Examples include Huobi Token (HT), Binance Coin (BNB), and KuCoin Shares (KCS).
Therefore, it is important to consider the range of coins offered on a crypto trading app before making a choice in order to ensure that you have access to the cryptocurrencies you wish to trade.
Trading options
Sticking to crypto is fine—but why not play the field by checking out other trading options, like margin and stock trading. Margin trading involves borrowing money from a broker to purchase stock and carry out trades.
But be careful—margin trading means you’re expected to pay back the debt, even if you lost money in your investment. Many apps also offer peer-to-peer trading, letting you trade freely without a third party watching your every move. You can benefit from a P2P platform as both parties agree on the preferred pricing and payment methods.
Educational tools
You learn something new every day—at least, that’s the goal. And with that philosophy, even the seasoned trader could learn a thing or two about crypto.
Both experts and beginners can benefit from educational tools—from video classes to advanced data charts. If you’re just learning the ropes, Webull has a great virtual trading simulator, while
Coinbase will actually pay you to watch their educational videos. For those with more expertise, Tradestation offers real-time data to keep track of the market, and Kraken has a selection of videos and podcasts to help you level up your crypto game.
If you want to find your own educational resources, plenty of masterclasses are available to help you take control of your finances.
Operating System
When selecting a crypto trading app, it's crucial to consider the operating system it's compatible with. The most common operating systems are iOS and Android, but some apps may also be available for Windows or MacOS. Choosing an app that works with your device's operating system is necessary to access all features without any compatibility issues.
Additionally, you can check the app's ratings and reviews on Google Play Store and iOS App Store. While these ratings can be helpful in evaluating an app, it's important to keep in mind that they are based on user reviews, which may not always be accurate or reliable. Therefore, conducting your own research into the app's security, usability, fees, and other features is essential before making a decision.
Best Crypto Apps by OS
App | OS | Rating |
---|---|---|
Crypto.com | Android | 4.6/5 |
Uphold | Android | 4.5/5 |
Bitstamp | iOS | 4.8/5 |
Gemini | iOS | 4.8/5 |
User Interface
When it comes to choosing a crypto trading app, the user interface (UI) is a critical factor that can greatly impact your trading experience. A well-designed UI should be intuitive and easy to navigate, allowing you to place trades quickly and accurately.
To evaluate the UI of a trading app, you should consider the layout and organization of its various features. For example, does the app allow you to switch easily between different coins or track multiple markets in real time without any confusion? Can you customize the app to fit your individual needs, such as setting alerts or managing your portfolio?
A good UI should also provide clear and concise information, such as current market prices and order book data. This helps traders make informed decisions based on real-time market conditions.
It's a good idea to check how frequently the app has been updated on app marketplaces. This is important as updates often include bug fixes, security patches, and new features that can improve the user experience and ensure the app is running smoothly.
If an app hasn't been updated in a long time, it may be a red flag that the developers are not actively maintaining it, and it could potentially have security vulnerabilities or outdated features. On the other hand, an app that is frequently updated shows that the developers are actively working on improving it, which can provide users with confidence in the app's security and reliability.
Additionally, regular updates can ensure that the app remains compatible with the latest operating systems and devices, ensuring that users can continue to use the app without any issues. Checking the update frequency can be a simple yet effective way to evaluate the quality and reliability of a cryptocurrency trading app.
Trading Fees & Conditions
When trading cryptocurrencies, you should be aware of the various fees that apply to each transaction. These include deposit fees, withdrawal fees, exchange fees and network fees.
Deposit fees are the costs associated with depositing funds into your trading account and can vary depending on the payment method used.
Withdrawal fees cover the cost of withdrawing funds from your account and may depend on the amount being withdrawn.
Exchange fees are those charged by cryptocurrency exchanges for processing orders and converting one crypto to another. It is important to check the fees charged by your preferred trading app and compare them to other apps to ensure you are getting the best value for your money.
Network Fees: Refer to those charged by blockchain networks when transferring coins or tokens between wallets. These fees can vary depending on the network used and the amount being transferred.
Besides fees, you should consider the various deposit and withdrawal methods allowed by the crypto trading app and make sure that they are secure, reliable, and available in your region.
Crypto withdrawals and deposits tend to be faster than fiat currencies as no conversions are needed and crypto transactions don't need to be vetted by a traditional bank. However, some apps generally have slower processing times (for example, it could take several business days for eToro to process withdrawals).
Wallets
Cryptocurrency wallets are essential tools for storing and managing your cryptocurrency assets. There are two main types of cryptocurrency wallets: hot and cold wallets.
Hot Wallet: A hot wallet is connected to the internet and is accessible through a mobile app or a web browser. They are convenient and easy to use, but they are also more vulnerable to hacking and other cybersecurity threats.
Cold Wallet: A cold wallet, on the other hand, is stored offline, either on a hardware device or on a piece of paper. Cold wallets are more secure than hot wallets because they are not connected to the internet, but they can be less convenient to use.
When choosing a cryptocurrency app, it's important to consider its support for both hot and cold wallets. Some apps may offer built-in wallets that are accessible through the app, while others may support integration with third-party wallets. If you prefer to use a specific type of wallet, make sure that the app you choose is compatible with that type of wallet.
Consider Your Goals
When choosing a crypto trading app, it is important to consider your own financial goals. Depending on your short and long-term investment objectives, you may want to consider staking, holding or trading cryptocurrencies.
Staking involves locking up coins in exchange for rewards such as dividends or voting rights. It is often used as a strategy to earn passive income from the cryptocurrency market without actively having to trade. If you plan to stake cryptocurrencies, look into apps that support staking and offer the best rewards for your coins.
Holding refers to simply “buying and holding” cryptocurrencies over an extended period of time with the expectation that their value will increase over time. The idea is to buy and hold in anticipation of a price increase. Look for apps that have low trading fees, support multiple currencies and offer wallet services for easy storage and security.
Trading involves buying and selling cryptocurrencies in order to make profits from short-term price fluctuations. If you plan to actively trade on a regular basis, look for apps that offer advanced features such as margin trading to maximize profits from price movements.
Best Crypto Apps by Purpose
App | Purpose |
---|---|
Kraken | Staking |
Coinbase | Holding |
Robinhood | Trading |
How Experienced Are You?
When selecting a crypto trading app, it's crucial to choose one that matches your experience level. If you're new to cryptocurrencies, look for an app that offers educational content to learn more before trading. Additionally, check the minimum deposit and trade amounts, especially if you have a limited budget. Many apps allow you to get started for as little as $1-$10, making it an excellent starting point for inexperienced users.
On the other hand, experienced users should look for apps that offer advanced features and higher trading limits. This ensures that the trading experience is not limited by the app's features. By choosing an app that caters to your experience level, you can maximize your trading potential and achieve your financial goals.
Best Crypto Apps for Beginners
Application | Beginner-friendly Features | Trading Fees |
---|---|---|
eToro | Copy other users, no commissions | 1% |
Robinhood | Excellent user interface, no commissions | $0 |
Coinbase | Amazing educational content, easy to use | Varies |
How to Use a Crypto Trading App
Just like reading a recipe is key to understanding your favorite dish, the key to understanding crypto is knowing the market. To get a good grasp on the market, you need to be in it for the long run.
Patterns and trends change over time, so your trading strategies and choices must ride the wave along with these changes. All this talk about the market, but what actually is it? Let’s break it down into two categories: bearish and bullish.
A bearish market happens when prices steadily decline, resulting in mass sell-offs, causing the prices to drop even further. A bullish market reflects the increase of a price action, leading to more buyers and further price increases.
Take your time looking at patterns and trends so you can see how your trading strategies can benefit from the market shifts.
Different trading strategies
You want to succeed in crypto. But choosing the wrong trading strategy can harm your finances—and stress levels! Here are some tried-and-tested trading strategies to consider—2
Day trading
Let’s face it, many of us are impatient and enjoy the kick from instant gratification—making day trading a popular choice.
Day trading lets you enter and exit positions on the same day and capitalize on short-term trends. This way, you can make money fast without being affected by overnight market shifts. But be warned—you can also lose money as fast as they get it.
And don’t expect to get rich quick from day trading, as the lack of big trades means you’ll rely on multiple small trades to build wealth over time. The think-fast environment can also be pretty stressful, especially for beginners.
Swing trading
Slow and steady wins the race—or at least gives you a decent profit. Unlike day trading, swing trading usually follows short to intermediate trends (1–30 days).
Swing trading involves longer market trends, so it can be easier to wrap your head around. But as the name suggests, swings refers to fluctuating prices, so you’ll need to pay attention to all the ups and downs, which can each last up to a month.
Yes, fluctuation is risky—to succeed in swing trading, you’ll have to research market trends and stick to your guns when deciding on a strategy.
Position trading
It’s no secret that online trading can be stressful—especially with all the crazy fluctuations. If you prefer to take it easy, position trading is categorically the least stressful option.
Rather than quickly acting on short-term trends, position trading is for those in it for the long haul. You can buy and hold stocks over the long term, with small mistakes being forgiven as you build your assets over time. This can eventually pay off, as position traders often see significant gains by taking advantage of large stock moves.
Despite having the highest payout, market trends can always take a turn for the worse, known as trend reversal—so make sure you have all the right data, research, and guidance before diving in.
How to Start Trading Crypto as a Beginner
You’ve been convinced—but before starting, you have to do your homework. Yes, not the most exciting part, but doing your research helps protect your finances and stops you from making any regrettable decisions.
Be sure not to skim over any risks and laws surrounding cryptocurrency and trading. It may be cliché, but knowledge really is power. So, put in that extra time, and you’ll have a solid foundation to get started in crypto.
Once you’ve done your research, here are some steps you can take to get the ball rolling—
1. Find the right crypto app
2. Open an account
3. Choose your cryptocurrency
4. Begin trading
5. Store your cryptocurrency
Key Takeaway
The world of cryptocurrency can be a crazy one. Fluctuating markets, the risk of hacking, and rapid changes can be overwhelming for some—but we assure you that doing your research can make the crypto world way less scary.
Brush up on your market knowledge, find the best crypto app, identify the right trading technique, and get a secure wallet before taking the plunge. We’re living in an ever-growing tech-driven world, and digital currency may well be the future—something to think about if you’re still debating if crypto is the right choice for you.