Did you know that in 2021 the cryptocurrency market was worth over 2 trillion dollars?
Experts across the world posit that cryptocurrency is the currency of the future. Governments and banks cannot control it, and everyday people can mine it. But how do you even buy crypto in the first place?
For most people, the answer is cryptocurrency exchanges.
We’re still in a transitional phase as crypto trading becomes normalized. You’ll need a proper crypto platform to purchase cryptocurrency, but you need to know which exchanges you can trust in the first place!
In this guide, you’ll learn what the best crypto apps are, and how they can get you into the cryptocurrency game.
What Is a Cryptocurrency Exchange?
Cryptocurrency is in the “early days,” meaning that our society is still figuring out the kinks. Cryptocurrency is volatile, and the lack of regulation means the risk of scams is high. You need a place you can trust.
Cryptocurrency exchanges are digital marketplaces where you can buy and sell cryptocurrency. It allows you to exchange your cold hard fiat money for a wallet. This wallet has coins minted on the blockchain.
While you don’t need cryptocurrency exchanges to get cryptocurrency, the experts prefer them. Why? Because they provide a safe, secure place to store your crypto and either sell it or obtain more.
Crypto app safety takes the headache out of dealing with the blockchain. And in most cases, you’ll find affordable rates and quality customer service.
Cryptocurrency is a difficult topic to understand. As with all things, do as much research as you can. Going in blind can make this a scarier experience than it ought to be.
The Best Crypto Apps
For this list, we’re going to focus on a few key features:
- Ease of use
- Quick and easy signup
- Wide variety of crypto options
- Strong, secure crypto platforms
- Competitive fees for investors
Without further ado, here are the top 7 best crypto apps.
1. Coinbase
Chances are you’ve heard of this heavyweight. Coinbase is the largest platform for crypto trading in the world. It’s a public company that’s available in almost all US states and supports a whopping 174 cryptocurrencies.
This is a big player, but that comes at a cost for you, dear user. You can expect somewhat higher fees. That said, Coinbase boasts cold storage of its coins–meaning you’ll never lose your money.
Further, they’ve got good insurance, and they’re one of the few exchanges with phone and email customer support. If you’re a beginner in cryptocurrency who wants to start off easy, go here.
2. Kraken
One of the oldest cryptocurrency exchanges, Kraken suits investors who want to make more money. They have much lower rates than Coinbase, and they’re ideal for day trading.
That said, there’s more risk involved here. Kraken does not have insurance like Coinbase. They do claim to use the same cold storage as Coinbase. They also say that they have good liquidity, meaning you can pull out your coin at any time.
Kraken is a good option for more experienced users. If you know your way around cryptocurrency, this might be a great place to up your game.
3. Gemini
If Coinbase is a great start for beginners, Gemini is a great start for absolute novices. It’s an educational platform as well as one of the crypto platforms.
Further, anyone in the US can use Gemini. It’s one of the few places for crypto trading with FDIC insurance. If you’re looking for best-in-class crypto app security, you’ve come to the right place.
Gemini is also a great place to make use of smart contracts, decentralized cloud storage, and other blockchain technologies.
4. Crypto
Crypto.com has one of the largest amounts of coins on this list–over 200, in fact. They also have great trading options and are available in every state.
Perhaps the best feature of Crypto is security. You have to make every transaction with 2FA and biometric authorization.
5. BitFlyer
This Japanese-born exchange has the lowest fees of any on this list. If you want to do a lot of trading, this is your best shot. But BitFlyer does not have as much insurance as the others.
Security might be lacking here since users report a lot of bugs. Go for BitFlyer if you don’t mind the risk.
6. BitMart
If you want to get into esoteric, lesser-known currencies, then you’ve come to the right place. BitMart supports a whopping +1,000 cryptocurrencies.
That said, hackers compromised this exchange in 2021. Users lost an estimated $196 million. However, they did promise to reimburse their users for this breach.
There also seem to be a lot of poor user reviews. Proceed with caution.
7. Cash App
Perhaps you’re only interested in BitCoin. If you want an easy way to purchase the most well-known crypto from the comfort of your phone, this is it.
Cash App started as a mobile banking app/fintech company. But over time, they spread to peer-to-peer payments. This naturally led them to cryptocurrency.
Cash App has one of the easiest interfaces to use. However, there are limits on funding and deposits. Casual BitCoin buyers will love this app.
Do Crypto Trading Right
The best crypto apps make a daunting task simple. Cryptocurrency exchanges take the hassle out of buying digital coins and allow you to do it in seconds. Now that you know what a cryptocurrency exchange is, it’s time to get one for your cryptocurrency investing.
Cryptocurrency is only the start to improving your finances. Visit our blog for more tips on the Mad Dev lifestyle.
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