Although not everyone really understands the cryptocurrency market, there’s no question that it’s taken off in popularity. As evidence, cryptocurrency apps now seem to be all the rage.
Over the past few months, the market has seen thousands of investors, even if there’s hardly anything physical involved with it. All the same, it’s likely to continue to stay on the rise as 2022 continues, leading into a possibly even bigger 2023.
This leads to a question. What are the best cryptocurrency apps to use these days?
Some may feel that using an exchange is a better bet, but those of you just getting started in the market could find better luck trying a user-friendly app to get started with. That’s where we come in, with five suggested apps that will give you the most bang for your buck — even if you’re not 100 percent sure of your investment.
Let’s say you’ve got a lot of money to invest in cryptocurrency apps, but aren’t sure where to start. Gemini seems like the safest bet, for a number of reasons.
First off, Gemini has full licensing through the New York State Department of Financial Services. That alone provides assurance over, say, apps that use private services.
Along with that, the app also provides security, taking care of any schemers that may try to get their hands on your all-important crypto cash. This can make all the difference, especially if you’ve got a major amount of money involved.
Just be ready to pay some fees.
The trading commission usually starts at 1.49 percent per slide. And if you’re investing in Bitcoin, you’ll pay 3.49 percent via debit card. Still, if you don’t mind taking a gamble, Gemini is the way to go with these services.
Now let’s say you’re on the opposite side of the spectrum and aren’t sure how cryptocurrency apps work.
It’s best to start with a service that’s user-friendly to beginners, while at the same time teaching you the basics of investment. Coinbase offers such a service.
Out of all the cryptocurrency apps, this one offers a pretty good walkthrough of how everything works, as well as relative ease when it comes to sign-up.
That said, it’s not inexpensive.
In fact, it requires 3.99 percent with investment in Bitcoin (with a debit card), while general trading commissions sit at around 1.49 percent per slide. That might be a bit heavy on the wallet, especially for newcomers.
For newcomers, however, it’s definitely worth a look and should answer any questions you may have when it comes to this particular market.
Don’t have that much money? Hey, a lot of us feel that, especially after coming off the COVID-19 pandemic and the rough job market.
However, let’s say you’re curious and feel like investing a little bit in the market with cryptocurrency apps. What’s the best place to start? That’s where Webull comes in.
The first bit of good news with this service is that there isn’t a minimum deposit. What’s more, you can actually buy and sell crypto however you please starting around $1 per trade. You can also choose to fund your account between ACH or bank wire, with only a handful of fees to pay as a result.
That said, the markets are handled through a spread-only basis, with a minimum spread of around one percent.
Do a little research, but don’t worry about losing major dollars with Webull. It’s probably one of the most user-friendly cryptocurrency apps out there.
Let’s say investment isn’t your bag, but you’re more of a trader type, someone that’s all about taking advantage of different markets. You want an app that’s ready to keep up with all your actions, no matter what the dollar value may be. It’s here that Binance can lend a hand.
Here, investors will find a number of spreads available, with commissions down to a very reasonable .10 percent per slide.
That can add up to quite a bit with all the right moves made. What’s more, credit/debit card investments are handled very well, with just .5 percent cost. (Keep in mind that’s in the U.S. only – foreign markets may be higher.)
It’s also quite user friendly and a pretty good place to earn trader stripes, if that’s what tickles your fancy in the world of cryptocurrency apps. Download it at the link above and see what it can offer.
Finally, there’s a company that may consider the gold standard when it comes to cryptocurrency apps — eToro.
First off, it has support from a number of large financial groups, including the FCA, CySEC, ASIC and the SEC. This also means lots of security with your trades, with little to no fraud to speak of. That’s good news for those of you that want to keep your transactions secure.
There are also a variety of markets available, including big ones for those that are savvy in cryptocurrency as well as new ones for those jumping in. It also offers a variety of payment options.
Don’t want to hand over your debit or credit card information? They take PayPal and bank transfers as well.
Its fees are also incredibly impressive. Looking to buy some Bitcoin? You’ll be paying around a .75 percent spread, lower than most of the other brokers on the market.
You can also keep track of everything through one of the company’s Smart Portfolios, so you don’t become confused. (This is a blessing for those of you learning the ins and outs of cryptocurrency apps.)
When it comes to the choices on the market, eToro is a top contender. Of course, it’s your money and completely up to you, but you’ll find it has everything you need when it comes to the best of cryptocurrency apps.