While cryptocurrency is not centralised, it’s possible to trade and store tokens. There are many apps that can do this job. But how can you narrow down the options? This guide will show you the top crypto apps that allow you to securely invest in your favorite coins.
1. Coinbase
Coinbase is a popular option with more than 103 million users. It’s the easiest crypto app roundup. It is fully featured enough for beginners to cryptocurrency trading or advanced traders using coinbase pro. For beginners, you can sign up for short video courses that will give you free crypto.
Investors who are new to crypto trading may find Coinbase the best option. This is due to its user-friendly app and website, low trading minimums starting from $2, and wide range of education about crypto.
Pros
- No cost linked Coinbase Card debit card
- Learn and take crypto quizzes to earn tokens
Cons
- Only main currencies (roughly 209) are available
- Fees are often high and pricing structures lack transparency
2. Crypto.com
Crypto.com can be used by high-volume cryptocurrency traders. Over 250 assets are available for U.S. investors, and many more worldwide. Fees will be assessed based on volume. They start at 0.40% and go up to $25,000, then decrease on a sliding scale.
Pros
- Trading fees are relatively low at 0.40% for the first $25,000, and then drops to 0.20%.
- There are 250+ assets and many more available outside the U.S.
Cons
- For the best experience, you will need to download an app
- No phone support available
- For every withdrawal, there is a 25 USDC fee
3. Gemini
Gemini, another top crypto app, is a robust platform that allows both beginners and experienced traders to trade. It also offers a hot wallet for those who prefer to store their tokens online.
Gemini is a firm believer in security and will provide hardware keys to protect your account. Your investment is protected by the hot wallet’s digital-asset insurance. It’s also the first cryptocurrency exchange that is SOC 1 Type 2 and SOC 2 type 2 compliant.
Pros
- Gemini Pay allows payment for select retailers using crypto.
- Sign up to earn crypto rewards or use the Gemini card.
Cons
- There are only about 100 cryptocurrencies on the market
- No telephone support
4. EToro
EToro has a reputation for social investing. This is a way to see what other investors are buying and selling. It is possible to use a crypto exchange that has a similar concept, and copy other strategies or your own.
The platform is designed for new investors. It offers a lot of learning resources as well as the ability to copy other traders. For practice, you can open a virtual $100,000 account. Advanced traders might also be interested in the AlgoX API Trading Program. This is a professional cryptocurrency exchange with additional assets.
Pros
- CopyTrader allows you to view and copy trades made by more experienced users.
- The crypto wallet by EToro has an “unlosable security key” to protect the account
Cons
- CopyTrader is not recommended unless you are familiar with cryptography.
- Spread costs and a fee of 1% for all transactions
5. SoFi
SoFi, which is most well-known for its banking and loans, also offers a basic cryptocurrency-trading platform. It only offers 30 of the most widely-recognized crypto tokens. The limited number of crypto options is acceptable for beginners who want to trade with a financial institution.
SoFi’s crypto structure may be a bit more expensive than others, but it is quite simple. Transactions are subject to a 1.25% transaction markup fee. It can trade only $50,000 per day. This makes it an excellent choice for those who are just starting with crypto. However, it is not well-equipped to handle more advanced traders.
Pros
- Sign up now to receive up to $100 in Bitcoin
- App is user-friendly
Cons
- Only 30 coins are available
- The minimum $10 purchase is higher than the average
6. Kraken
Kraken has been around since 2011. It’s one of the oldest options for the best crypto apps. Kraken’s platform is an excellent choice for new users. It offers a mobile-friendly and online experience. Kraken shines in the area of advanced features.
Advanced traders have access to the basics, margin accounts, and multiple exchanges from one platform. Registering for Kraken Pro will save sellers and buyers money on transaction costs. The Pro trade fee is based on monthly volume. There’s a 0.16% maker fee and a 0.26% taker charge for the first $50,000. Prices drop for more volume.
Pros
- One of the top crypto apps for advanced traders
- Chat available via live chat
Cons
- Basic users may be charged fees of 1.5% for transactions and 0.5% to fund from a bank account. You could also pay 3.75% plus 25c in payment processing fees if you use a debit card, credit card or digital wallet.
Takeaway
There are many options when it comes to choosing the best cryptocurrency app. It all comes down to what features are most important to you. Some platforms offer tutorials and help for beginners or basic investing in tokens. Some apps support professional and institutional traders while others offer more advanced functionality.
Compare a few options before you sign up to a crypto app. Also, review the assets list to make sure the coins you want to trade are in stock. Check if the app is available in your area. Finally, make sure to check the fees to ensure that the transaction and payment type fees don’t exceed the trading volume you intend.
