8 Best Cryptocurrency Apps | Nasdaq

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AAlthough cryptocurrency is decentralized, you will need a way to exchange and store your tokens. There are dozens of apps available to get the job done, but how do you choose from so many options? This guide examines the best crypto apps available today to safely invest in your favorite coins.

1. Coinbase

One of the most popular options with over 98 million users, Coinbase makes the best roundup of crypto apps for its ease. The platform is comprehensive enough to work for a cryptocurrency beginner or more advanced traders using Coinbase Pro. Beginners, in particular, can sign up for short educational video courses that will earn them free crypto.

Coinbase may be the best for investors new to crypto trading, thanks to a user-friendly website and app, low trading minimums starting at $2, and the wide range of crypto training available.

Advantages:

  • Free linked debit card
  • Earn free tokens to learn and take quizzes about crypto.

The inconvenients:

  • Only current currencies (about 180) are available
  • Fees of $0.99 to $2.99 ​​for transactions up to $200 can be steep.

2. Crypto.com

Crypto.com is ideal for the high volume crypto trader. There are over 260 assets for US investors and thousands more internationally. Fees are assessed based on volume, starting at 0.40% up to $25,000, then decreasing on a sliding scale. Plus, cashing out is cheaper, with free bank transfers and ACH.

Advantages:

  • Relatively low trading fee of 0.40% on the first $25,000, then declines
  • Over 260 assets available and thousands more outside the US

The inconvenients:

  • App download required for best experience
  • No phone support available.

3. Gemini

Gemini is another of the best crypto apps thanks to the robust platform for both beginners and advanced traders. Additionally, it offers its own hot wallet if you don’t mind storing your tokens online.

If security is your biggest concern, Gemini emphasizes the security of your investment, providing hardware keys to secure your account. Its hot wallet is backed by digital asset insurance to secure your investment. Additionally, it is the first cryptocurrency exchange to be SOC 1 Type 2 and SOC 2 Type 2 compliant.

Advantages:

  • Gemini Pay lets you pay for purchases with crypto at select retailers
  • Earn crypto rewards when signing up or using the Gemini credit card.

The inconvenients:

  • Only about 75 cryptocurrencies available
  • No phone support.

4. Maintain

Uphold offers over 130 currencies to trade as well as metals and around 50 US stocks. It’s not the widest variety of crypto, but it contains all the major tokens that new traders might be interested in. Uphold’s user-friendly and simple platform is ideal for beginner to intermediate crypto investors.

You can set up recurring limit orders via the AutoPilot option. Make cryptocurrency purchases at the average dollar cost to help reduce some of the volatility typical of cryptocurrency trading. Plus, you can wager certain currencies to earn up to 19.5% rewards.

Advantages:

  • Trading between asset classes is possible
  • Easy to navigate online and mobile app platform.

The inconvenients:

  • There are no trading commissions but watch out for the average spreads of 0.8% to 1.2%
  • Assistance limited to an online form.

5.eToro

eToro is known for its social investing, a way to learn more about how others are trading by seeing what more experienced investors are buying and selling. A crypto exchange with a similar concept is now available, allowing you to copy others’ strategies (or follow your own) using over 120 cryptocurrencies.

The platform as a whole is aimed at new investors, with plenty of learning resources and the mentioned ability to copy what more experienced traders are doing. You can start with a $100,000 virtual account to practice. Advanced traders can also find the features they need, including advanced charting and the AlgoX API trading program, a professional crypto exchange with additional assets available.

Advantages:

  • View and copy trades from more advanced users using CopyTrader
  • eToro’s crypto wallet has an “impossible to lose” security key to secure the account.

The inconvenients:

  • Using CopyTrader is not advised unless you have a good understanding of crypto
  • 1% fee on all transactions plus spread costs.

6. SoFi

SoFi is best known for banking and lending, but also offers a basic crypto-trading platform. It is quite limited, offering only 30 of the most recognized tokens. However, beginners interested in trading with a reputable financial institution might find the small number of crypto options acceptable.

SoFi’s crypto structure is more expensive but quite simple. There is a 1.25% surcharge on transactions. Trading volume is capped at $50,000 per day, making it a good choice for getting started with crypto, but not well equipped for more advanced traders.

Advantages:

  • Get up to $100 in bitcoins when you sign up
  • User-friendly app.

The inconvenients:

  • Only 30 pieces available
  • The minimum purchase of $10 is above average.

7. Kraken

Kraken is one of the oldest options of the best encryption apps available. It has been around since 2011. Kraken’s platform is a good option for new users, offering a user-friendly mobile and online experience. However, Kraken really shines when it comes to advanced features.

Advanced traders can take advantage of the basics as well as margin accounts and multiple exchanges on one platform. Signing up for Kraken Pro can save frequent buyers and sellers money on trades. Pro transaction fees are based on monthly volume with a 0.16% maker fee or 0.26% taker fee on the first $50,000 and decreasing for higher volume.

Advantages:

  • Among the Best Crypto Apps for Advanced Traders
  • Live chat available.

The inconvenients:

  • Only 100 assets to trade
  • Fees can add up for basic users, with 1.5% on transactions plus 0.5% for funding from a bank account up to a 3.75% payment processing fee when you use a credit card, debit card or digital wallet.

8. Webull

Webull is a solid trading platform for stocks and it is one of the first to expand into crypto as well. If you like investing in general, the Webull platform may be the best choice to keep all your trades in one place.

Beginners will appreciate the tutorials that walk you through all the basics of crypto trading as well as insights into the most popular coins. Once you get more comfortable with trading, there are plenty of useful features like live data and customizable charts to help you with your research.

Advantages:

  • Trade with as little as $1
  • Real-time graphics.

The inconvenients:

  • Only 41 pieces available
  • Not available in all states.

Carry

There are many options for the best crypto app. It all depends on which features matter most to you. Some platforms are geared towards basic or beginner token investing with helpful tutorials. Other apps offer advanced functionality, even supporting professional and institutional traders.

Before signing up for a crypto app, compare a few options and review the list of assets to make sure the coins you want to trade are available. Confirm if the app is available in your state. Finally, review the fees to make sure the transaction and payment type fees are not too expensive for the level of trading you plan to do.

The information is accurate as of May 31, 2022.

FAQs

  • Which cryptocurrency app is the best?
    • Any of the eight featured in this best crypto app review would be a great option. It all depends on your needs. For the greatest variety of crypto, choose Crypto.com or Coinbase. For advanced trading, look at Kraken or Crypto.com. If you want to see and copy what experienced crypto traders are doing, consider eToro.
  • What is the #1 crypto app?
    • Coinbase might be the best crypto app because of its versatility. A debit card is linked to your account for spending, and you can earn free tokens when watching short instructional videos. Apart from the onboarding experience for new users, the advanced trading platform for experienced traders is robust. In addition, external wallets are compatible.
  • Which crypto app is the safest?
    • According to research by GOBankingRates, the Gemini app is perhaps the most secure crypto app. Users receive a hardware security key for access. Additionally, it is the first crypto exchange to be SOC 1 Type 2 and SOC 2 Type 2 compliant.

This article originally appeared on GOBankingRates.com: 8 Best Cryptocurrency Apps

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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