7 Best Cryptocurrency Apps: Which Should You Use? – GOBankingRates

7 Best Cryptocurrency Apps: Which Should You Use? – GOBankingRates

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Cryptocurrency apps are convenient tools for buying, selling and storing your crypto. However, there are numerous options, and each app has its own set of pros and cons. This guide looks at the best crypto apps available now to securely invest in your favorite coins.
Learn: 3 Things You Must Do When Your Savings Reach $50,000
Here is a glance at some of the best crypto apps available today.
Keep reading to learn more about these apps, their pros and cons and what sets them apart.
One of the most popular options with over 108 million users, Coinbase makes this list for its ease. The platform is full-featured enough to work for beginners and offers Advanced Trade for more experienced users.
Because of its user-friendly interface, the Coinbase app is excellent for people who are newer to crypto trading. Low trading minimums start at $1 and a wide range of education on crypto is available.
Crypto.com is ideal for large-scale crypto traders. With a wide range of options available, Crypto.com has a fast-growing network in this space. Fees are assessed on volume, which is convenient for high-volume traders.
Gemini is another of the best crypto apps thanks to its robust platform for beginners and advanced traders alike. Plus, it offers its own hot wallet if you don’t mind storing your tokens online.
Gemini places a big emphasis on keeping your investment safe, providing hardware keys to secure your account. Its hot wallet is backed by digital-asset insurance to keep your investment secure. Plus, it’s the first cryptocurrency exchange to become SOC 1 Type 2 and SOC 2 Type 2 compliant.
Uphold offers over 250 cryptocurrencies to trade, along with metals and 40 U.S. stocks. It doesn’t have the biggest variety of crypto, but it features all the major tokens the newer trader may be interested in. Uphold’s user-friendly and straightforward platform is best for beginner-to-intermediate crypto investors.
You can set up recurring limit orders through the AutoPilot option, or use it to invest a fixed amount at your chosen time intervals. This strategy is called dollar-cost averaging, and it helps to reduce some of the volatility associated with crypto trading. Plus, you can stake select currencies to earn as much as 13% in rewards.
EToro is known for social investing, a way to learn more about how others trade by viewing what more experienced investors buy and sell. A crypto exchange with a similar concept is now available, making it possible to copy others’ strategies — or follow your own — using over 50 cryptocurrencies and thousands of stocks and exchange-traded funds.
The platform is geared toward newer investors, with plenty of learning resources and the mentioned ability to copy what more experienced traders do. You can get started with a $100,000 virtual account for practice. Advanced traders may also find the features they need, including advanced charts and the AlgoX API Trading Program, a professional crypto exchange with additional assets available.
SoFi is best known for banking and loans but also offers a basic crypto-trading platform. It’s fairly limited, offering only 30 of the most-recognized tokens. However, beginners interested in trading with a recognized financial institution could find the small number of crypto options acceptable.
SoFi’s crypto structure is on the pricier side but fairly straightforward. There’s a 1.25% markup fee on transactions. Trading volume is limited to $100,000 per day, making it a good choice for getting started with crypto, but it’s not well-equipped for more advanced traders.
Kraken is one of the older options of the best crypto apps available — it’s been around since 2011. Kraken’s platform is a good option for new users, featuring a user-friendly mobile and online experience.
Advanced traders can take advantage of the basics plus margin accounts and multiple exchanges on one platform. Signing up for Kraken Pro can save frequent buyers and sellers money on transactions. Pro trade fees are based on monthly volume with a 0.16% maker fee or 0.26% taker fee on the first $50,000 and dropping for higher volume.
A cryptocurrency exchange is similar to a stock exchange where buyers and sellers trade crypto. Depending on the exchange, you can purchase crypto with fiat currencies like U.S. dollars or trade one crypto for another.
While choosing a crypto exchange, you should look for factors like security, ease of use, liquidity, tokens availability, trading fees and insurance availability. Based on your specific needs, conduct thorough research before choosing one.
Most of the best crypto apps have the following features:
Since there are many crypto exchanges available, you have to figure out which features are important for you. Beginner investors and professional traders have different needs, which is why you should make your choice carefully. Compare your options and consider the fees and availability before making a decision.
Suchetana Bhattacharyea and Daria Uhlig contributed to the reporting for this article.
Information is accurate as of Jan. 12, 2022.

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