Cryptocurrencies are getting popular day by day. Thanks to Elon Musk who has invested in different cryptocurrencies and is potentially a supporter of decentralized digital currency. Investment in cryptocurrencies is increasing at a fair pace. More than 78 million people in the world have blockchain wallets as of this month:
You need cryptocurrency apps to manage your digital currencies. Buying, selling, and managing virtual currencies require using a cryptocurrency exchange and wallet. And it isn’t easy to choose the best exchange and wallet app for cryptocurrencies.
This article covers the best cryptocurrency apps to help you pick the one that’s right for you. Let’s get started…
Best Cryptocurrency Exchanges
A cryptocurrency exchange is a platform where you can buy and sell cryptocurrencies. Creating an account with an exchange is the first step if you want to buy cryptocurrency. You need to find a reliable and registered exchange that works in your country.
Here are the best cryptocurrency exchanges you can choose from:
TradeStation is a leading cryptocurrency platform that is suitable for experienced traders. It offers a wide range of cryptocurrencies, stocks, options, and futures so you’ll have multiple trading options to choose from. It has sophisticated software that comes in both web and mobile app formats.
If you are a beginner and looking for an easy-to-use cryptocurrency exchange app, go with Public. It doesn’t have any minimum investment requirement so you can test it with a small investment.
eToro is one of the oldest cryptocurrency exchanges that was founded in 2007. It is a safe, low-risk, and regulated exchange. It comes with a user-friendly web and mobile app that makes trading a piece of cake for beginners. Social trading is a key feature that lets you copy the moves of top traders.
Gemini is another beginner-friendly crypto exchange platform where you can trade more than 50 cryptocurrencies. It is available in all the US states and there is no minimum deposit requirement.
Coinbase is a leading cryptocurrency exchange in the world that supports all the leading cryptocurrencies (100+). It is equally good for beginners and professional traders. The best thing about Coinbase is that your digital currency is insured.
Kraken is a big name when it comes to cryptocurrency exchanges. It is user-friendly, supports more than 50 currencies, and is available globally.
Best Cryptocurrency Wallets
When you sign up with a cryptocurrency exchange platform, you need a cryptocurrency wallet. If you mine Bitcoin, you’ll also want to use one. Your wallet stores private keys for cryptocurrency transactions. It allows you to send, receive, and spend digital currencies. You must have a cryptocurrency wallet if you want to buy and sell virtual currencies.
Here are the best cryptocurrency wallet apps:
1. Ledger Nano X
Ledger Nano X is a hardware wallet that helps you manage your digital currencies. It is a mobile-friendly wallet that connects with your device via Bluetooth. It can store more than 1800 different tokens and over 100 apps.
2. Trezor T
Trezor T is another hardware crypto wallet that stores your digital currencies, passwords, and digital keys. It has a USB-C connector that lets you connect it seamlessly with your mobile and computer.
Jaxx is a leading software wallet that manages and secures your currencies digitally without any hardware device. You can use it on desktop, chrome, android, and iOS.
ZenGo is a perfect software cryptocurrency wallet for beginners. It supports all the leading digital currencies with no minimum or maximum caps. You can buy and sell currencies with a single tap from your mobile app.
Best Portfolio Trackers
Once you start trading cryptocurrency, you need to use a portfolio tracker app. It is a platform that helps you keep track of all the currencies and assets you own. It helps you make better investment decisions. As a beginner, you might need a portfolio tracker app but once your business grows, you’ll definitely need a reliable portfolio tracker app.
Here are the best portfolio tracker apps to choose from:
CoinMarketCap is the best tracking platform that provides you with all the details about cryptocurrencies, exchanges, news, trends, charts, and more. The portfolio tracker app by CoinMarketCap is available for Android and iOS. It is free to use and tracks your portfolio in real-time for profit and loss.
CoinStats is a premium portfolio tracker app that is available for Mac, Android, and iOS. It supports more than 8000 coin analyses. You can use it to buy and sell cryptocurrencies on leading exchanges.
Best Lending Platforms
A cryptocurrency lending platform lets you lend your cryptocurrency for money or anything of interest. You use your cryptocurrency as collateral for a loan. A lending platform connects borrowers and lenders.
Here are the best cryptocurrency lending platforms out there:
BlockFi is a great lending platform that lets you borrow money via your cryptocurrency. The rate is phenomenal and you receive your funds almost immediately once your loan is approved. BlockFi is one of the best lending platforms that offer free Bitcoin for joining.
Voyager doesn’t lend you money but it pays you interest for holding your cryptocurrencies with them. This works in the same way as a savings account. It pays you a maximum of 12% annual revenue and supports over 60 currencies. If you need money from your digital currency, Voyager is the best app for you.
What to Look for in a Cryptocurrency App
When you’re looking to make money with Bitcoin or any other cryptocurrency you’ll want to be careful. How do you choose the right cryptocurrency app?
You can’t just pick any app, you have to make the right decision by comparing the pros and cons of different apps. But what do you actually compare?
Here are the key factors that you must look for when choosing a cryptocurrency app:
- Purpose: Why do you need a cryptocurrency app? Do you need a digital wallet to occasionally buy and sell cryptocurrencies or do you want to become an investor and need a cryptocurrency exchange app with a portfolio tracker? Clearly define your purpose and then look for the apps in the right category.
- Price:Not all apps are free. The best ones are rarely free. You need to look at the two types of fees when comparing cryptocurrency apps. First, the monthly subscription of the app. Second, transaction fees and taxes.
- Features: Don’t ignore app features such as mobile app, ease-of-use, customer support, etc. If an app requires intensive training before you can use it, there isn’t any need to go for it.
- Legality: This one is a serious concern. Not all exchanges, wallets, and platforms work in all countries. The first thing you need to do is check if the cryptocurrency app supports your country. If it doesn’t, you can’t use it. You won’t be able to deposit and withdraw funds. And the app must be regulated and legally allowed to work in your country. Not all countries allow all cryptocurrency apps. A little research can save you from getting your account frozen.
Get Started in Crypto
Cryptocurrency apps make it easy for newbies to get started. You can buy and sell currencies without any experience with these apps. You don’t even have to go through intensive training videos or guides, these apps are fun and easy to use.
There isn’t any better time than now to start buying and selling cryptocurrencies.