Digital currencies and tokens provide a faster and more secure option for users, from investing and trading to paying for goods and services. There are numerous cryptocurrency apps available today that perform a range of functions, but the sheer quantity available might make it difficult to choose the best one.
Your troubles are ended, since this article will examine some of the best cryptocurrency apps in 2024, assessing their advantages and features. This article will expose you to the best crypto apps for beginners in 2023 to get you started investing and trading. We will evaluate the best cryptocurrency trading apps based on all essential variables, such as trading options, costs, and unique features.
Best App for Cryptocurrency Trading for Beginners
1. Binance – Best Cryptocurrency Trading App for Beginners
Binance is one of the best crypto apps for trading altcoins, with over 600 cryptocurrencies available. Binance distinguishes out from its rivals when it comes to discovering new and obscure cryptocurrencies due to the sheer volume and diversity of coins available. It might be the best cryptocurrency trading tool that enables you to build a broad portfolio all in one spot. There is a convert option that allows the inexperienced to trade, purchase, and sell digital currencies. Meanwhile, expert cryptocurrency investors may benefit from customizable charts and a diverse set of technical indicators.
Margin trading, as well as a variety of other trading instruments such as fan tokens, futures, and options, have the potential to boost earnings. The new Binance NFT marketplace even allows you to purchase and sell NFTs.
In the Earn part of the app, there are several options to convert your cryptocurrency into additional cryptocurrency. Staking, savings accounts, liquidity farming, and the Launchpad, where you may earn newly-launched currencies, are among them.
Setting up a free account is straightforward, and there are many payment methods available for placing a deposit. The minimum amount is $50 (about £40), and there are no deposit or withdrawal fees.
2. Coinbase – Best Altcoin App for Trading
Coinbase is one of the easiest crypto apps to use, making it an excellent location to begin your crypto apps adventure if you’re new. The interface is simple and easy to use, allowing you to purchase or sell more than 150 currencies with only a few clicks. Crypto fans may also find sophisticated tools and indicators on the Coinbase Pro website.
On your dashboard, you can quickly monitor and manage your portfolio. Furthermore, the recurrent buys function allows you to set up frequent automated purchases, making it easy for consumers to apply a dollar-cost averaging technique.
If you want to learn more about the world of cryptocurrency, Coinbase offers advice, tutorials, and a variety of instructional publications. With Coinbase’s frequent learn and earn promotions, you may even earn free cryptocurrency in the process.
Coinbase also offers a self-custody wallet, an NFT marketplace, crypto-collateralized loans, and the Coinbase Card, which allows users to spend cryptocurrency while receiving incentives.
3. OKX – best app to buy and send bitcoin instantly
OKX is one of the world’s biggest and most reputable cryptocurrency exchanges, with an excellent mix of cheap fees, trading choices, and trading pairings.
The platform is notable for supporting both centralized and decentralized exchanges. The latter does not need any Know Your Customer (KYC) authentication to access, making it a viable option for investors concerned about privacy. It also allows users to keep exclusive possession of their private keys while trading, protecting them from losing cash if OKX’s centralized exchange wallet is hacked.
OKX supports over 350 cryptocurrencies, including Bitcoin, Ethereum, Cardano, and a variety of fan tokens such as Manchester City Fan Token, Chiliz, and Galatasaray Fan Token. This is an excellent place for learning about the top new cryptocurrencies.
Staking with proof of stake cryptos, trading with customisable trading bots, and borrowing using cryptocurrency as collateral are all accessible to investors on the site. There are several trading accounts accessible, including financing, spot, futures, and mining accounts.
Users may access spot and futures trading, see their balances, and get price notifications for their favorite cryptocurrencies using the OKX app. Its intuitive layout makes trading easy, which has helped the app surpass 1 million downloads.
OKX’s trading costs may fluctuate based on how much OKB its customers possess, which grants them access to lower-cost trading on the platform. These costs start at 0.08% for market makers and 0.1% for market takers on spot transactions, making OKX one of the most competitive exchanges in terms of trading fees.
4. Crypto.com – The Beginner’s Crypto App
During the 2021 crypto bull market, Crypto.com ascended to the top of the Apple App Store and Google Play Store with Coinbase. Its nearly 50 million users are partly due to its significant promotional efforts, which include a Super Bowl commercial, a Matt Damon appearance, and the recently purchased name rights to the 950,000 square foot Crypto.com arena in Los Angeles (previously the Staples Centre).
The site allows investors to trade 250 cryptocurrencies, including popular newbie selections like Bitcoin, Dogecoin, and Shiba Inu. It also has an NFT marketplace and some of the best game currencies available, like The Sandbox (SAND) and Axie Infinity (AXIE). The standard cost for crypto spot and margin transactions is 0.0750%, whereas NFT resales are charged 1.99%.
5. Kucoin – Best Crypto App for Altcoins
Kucoin is a worldwide cryptocurrency trading platform that is accessible in more than 200 countries and 20 languages. It boasts a user base of 18 million investors and a trading volume of more than $1 trillion.
Despite these amazing numbers, the most distinguishing aspect of Kucoin is its over 700 coin choices, which is presently the biggest from a centralized exchange. The site is well-known for listing currencies before other large cryptocurrency exchanges and for housing unique coins that would otherwise be lost in the depths of obscure decentralized exchanges.
Kucoin has some of the lowest trading costs in the business, with a maximum of 0.1% per deal on the spot market. Users who own at least 1000 units of KCS, the exchange’s native currency, pay a lesser 0.09% charge. Alternatively, traders may pay transaction costs using KCS and save 20% off the usual charge.
Fees for trading in the futures market are much lower, at 0.02% for makers and 0.06% for takers. The same concept applies as with spot: the more KCS you hold, the cheaper your costs.
Depositing money on Kucoin is simple. You may purchase cryptocurrency using a bank card or deposit one of the 40 fiat currencies supported into your account. To deposit fiat, go to the deposit page and choose a payment channel. Adv Cash, credit cards, SEPA payments, and bank account transfers are all supported on the site.
You may also use Kucoin’s peer-to-peer (p2p) marketplace, which accepts more payment methods than the deposit interface. Deposit fees are modest and are mostly determined by the payment type used.
You’ll need an email address (or phone number) and a password to create an account. Following that, you may validate your account by meeting the KYC criteria. You’ll need a valid ID and proof of residence to do so.
6. Nexo – Best Crypto App for Extra Features
Nexo distinguishes out among crypto apps for the additional capabilities it provides if you want to do more than simply purchase and trade cryptocurrency. If you want to unleash the potential of your cryptocurrency and develop wealth, this is the program to utilize.
Nexo, like other cryptocurrency apps, lets users to immediately acquire Bitcoin and 40 other cryptocurrencies with a credit or debit card and trade across more than 300 market pairings. However, unlike other mobile apps, Nexo allows you to earn up to 0.5% immediate cashback on exchanges.
The interest-bearing savings accounts are the most popular characteristic that distinguishes Nexo from the competitors. Users may earn up to 18% APR on over 30 digital assets, with daily payments, no fees, and the option of earning in kind or the proprietary NEXO token.
You may also take out loans against your cryptocurrency with attractive rates beginning at 0% APR and rapid approval, and the Nexo Booster allows you to leverage your crypto holdings up to 3x while preventing price slippage.
Nexo requires a minimum deposit of $10 (£8) to get started, and depending on your loyalty tier, you may make up to five free crypto withdrawals every month. There are no swap costs, however Nexo charges a tiny spread, which is shown before users finalize the trade.
7. Kraken – Overall Best Crypto App
Kraken, which was founded in Europe in 2013, is one of the world’s most established cryptocurrency exchanges, with services also available in Canada and the United States. For North Americans searching for a regulated platform with access to leverage trading products, the exchange is an excellent solution.
On spot trades, the company presently provides up to 5x leverage. For example, you could buy $5000 worth of BTC with merely $1000 in USD collateral.
Kraken offers just 65 cryptocurrencies for trading on its platform, although they include well-known names like as Bitcoin and Ethereum. It also facilitates trading on some of the best DeFi currencies.
Notably, the exchange supports prominent layer-2 scaling options for each blockchain, such the lightning network and Polygon. Each enables customers to execute quick and almost free withdrawals from the platform, avoiding the frequently expensive network costs associated with traditional transfers.
The exchange provides 24/7 customer service as well as a plethora of instructional resources to help newcomers get acquainted with the sector. It was also one of the first exchanges to adopt the proof of reserves audit system, which uses the transparency of blockchain to ensure that all user assets at the exchange are safe and untampered with.
8. Gemini – Best Crypto Trading Platform
When it comes to security, Gemini is one of the best cryptocurrency apps. This exchange / custodian, founded in 2014 by Cameron and Tyler Winklevoss, is licensed by the New York Department of Financial Services and features FDIC protection on USD deposits. It also has hot wallet insurance, which means that any cryptocurrency in its hot wallet that might be lost is protected by the firm.
Gemini, like Kraken, has a very narrow list of trading assets, including Bitcoin, Ethereum, Dogecoin, and its own stablecoin Gemini Dollar (GUSD). Its mobile software is friendly to both novice and experienced traders, allowing users to buy and sell cryptocurrency while also accessing extensive charting features.
The exchange also has a collaboration with Flexa, which allows customers to spend their cryptocurrency at participating shops. Nordstrom, GameStop, Whole Foods, and Home Depot are among the shops that accept cryptos such as GUSD, Bitcoin, Ethereum, and Bitcoin Cash.
Gemini charges a fixed fee based on how much crypto customers are trading, which is somewhat more than other platforms’ costs. The cost is 1.49% of the transaction value for amounts more than $200.
9. Huobi
Huobi is a renowned Asian exchange with strong liquidity on the most popular crypto trading pairings (BTC/USDT and ETH/USDT) and a diverse range of 400+ tradeable cryptos. Some of the best new cryptocurrencies on the market are included.
The exchange provides a comprehensive set of trading tools such as margin trading, derivatives trading, and limit/stop orders. It also features an institutional trading desk for OTC and dark-pool trading, as well as smart-chain analysis with over 50 trading indicators. Using the Huobi API, users may even create bespoke trading bots.
10. eToro
eToro is the best cryptocurrency app because of the variety and quality of services it offers. It’s a terrific location to start a cryptocurrency portfolio since you can learn about trendy coins and the largest daily movers under the “Discover” tab—and add any that catch your eye to your watchlist.
The simple structure and user-friendly experience make eToro ideal for novices, but the extensive feature set and technical analysis tools help expert users as well. The website makes it simple to trade over 60 of the most popular cryptocurrencies.
The novel CopyTrader function, however, is what really distinguishes eToro among crypto apps. This is an excellent tool for beginners and those looking to enhance their capital efficiency since it allows you to automatically mimic the trades of the world’s most successful traders.
To pick who to mimic, you may explore the top traders and check statistics about them such as risk tolerance and % return. Furthermore, eToro is a social investment community, which means that users may interact with other traders to learn, exchange experiences, and have access to collective expertise.
What is a Cryptocurrency Trading Apps for Beginners?
Crypto apps have the ability to trade cryptocurrency on controlled or decentralized exchanges. Centralized exchanges function similarly to stock exchanges. The exchange works as a market maker, purchasing tokens when a sell order is placed and selling tokens when a purchase order is placed.
Decentralized exchanges utilize algorithms to directly connect buyers and sellers. When one investor enters a purchase order, it must be matched by another investor’s sell order in order for both orders to execute.
However, if a cryptocurrency program is meant to handle money, such as wallets, exchanges, and so on, the user will be required to register. Typical registration requires users to generate login credentials, which include a username and a password.
A person’s email address may be used as a username depending on the app. The app may also utilize the email address to send a security code/link to the user in order to authenticate their identity.
If you are building a cryptocurrency wallet, the registration procedure may terminate here, allowing you access to your freshly formed cryptocurrency wallet. Wallet owners will need to fund their crypto wallets, which may be done by heading to the deposit option and copying the given public key.
This key serves as the wallet’s identifier and must be supplied to anybody wishing to send cryptocurrency to the wallet’s owner. The cryptocurrency will appear in the balance after the wallet is funded.
Wallet owners may also send cryptocurrency. They must choose the Deposit or Transfer option. When transferring cryptocurrencies, three pieces of information must be entered: the quantity of coins, the public address of the destination wallet, and the transaction fee.
Several crypto wallet apps handle various cryptocurrencies, thus it is critical to pick the correct wallet address. Sending a cryptocurrency to another blockchain causes the coins to be lost.
Cryptocurrency exchanges are registered in the same way that any other crypto apps is. However, since these apps deal with money, they need users to pass KYC and AML checks in accordance with rules.
KYC may be added during or after the registration process. Exchanges may even implement a step-by-step KYC process, with different levels established dependent on the user’s trading volume. Each level grants access to more advanced crypto trading, deposits, and withdrawals.
Important Factors to Consider When Selecting the Best Cryptocurrency App for You
Put the user experience first.
The best cryptocurrency wallet will make maintaining your assets as straightforward and comfortable as feasible for you. Not only should the app provide the capabilities you desire, but it should also make it easy to access those functions.
Depending on your level of competence with crypto trading, certain crypto platforms (Coinbase, Binance, etc.) provide different mobile best crypto apps with differing degrees of functionality. Beginners may pick simple or light wallet versions with reduced features to make their trading experience more manageable and less intimidating.
Get the Lowest Fees
If you trade often, exchange costs might rapidly eat into your earnings, depending on the platform you choose. Fees vary per app, with some platforms offering reductions depending on a user’s trading volume and tokens kept on the exchange.
While some platforms, such as Binance, provide completely free Bitcoin trading, others, such as eToro and Gemini, charge maker/taker fees of 1% or more. The latter two platforms, on the other hand, make up for their comparatively expensive costs with rigorous consumer protection and regulatory compliance requirements.
Beginners desiring limited exposure to cryptocurrency, or those who do not plan to trade often, may be less worried about costs. High volume traders, on the other hand, should take advantage of the lowest platforms and the best trading discounts they can get.
Check Their Payment Methods
How does a certain app enable you to deposit money? Is a wire transfer needed or may you use your debit or credit card? Does the exchange take fiat cash at all, or just stablecoins denominated in fiat currency (USDT, USDC, etc.)?
Payment options differ based on the app’s integrations, partnerships, and jurisdiction. Binance allows users to fund their accounts with credit/debit cards, bank transfers, and third-party / e-wallet solutions such as Advcash. Coinbase now accepts card and bank transfer financing, as well as payments via Apple Pay and Google Pay.
eToro accepts a variety of financing methods, including credit/debit cards, Rapid Transfer, PayPal, and its specific eToro Money app in the United Kingdom.
Crypto Currency Selection
There are thousands upon thousands of cryptocurrencies, but no software enables trading in all of them. Before selecting an app, check to see which currencies are supported, particularly if you wish to exchange specific coins.
With over 600 supported coins, Binance, for example, offers one of the most comprehensive listings, including several new and obscure cryptocurrencies. If you simply want to trade the more established currencies, you could pick an app with fewer supported coins that also satisfies your other requirements.
Security and regulation
You don’t want the cash you commit to the app to be lost or stolen, so learn about the app’s regulation and security to get an idea of how secure your digital assets will be.
Many apps store a significant amount of their cryptocurrency assets in offline cold wallets, which are the most secure storage option. Two-factor authentication, anti-fraud technologies, and asset insurance are further security aspects to look for.
You may also learn whether or not the app is regulated. To keep its clients and their cash secure, a regulated app is more likely to adopt industry best practices and security.
Customer care
If you have any issues or concerns regarding how to use the app, you may need to contact customer care. Chatbot, video lessons, informative articles, FAQs, phone, and email help may be provided. You may read reviews and forums to find out what other users think about a certain app’s customer service.
Conclusion
Crypto apps are a terrific and simple method to trade cryptocurrencies and keep up with cryptocurrency market values no matter where you are. Although there are several best crypto apps accessible, this post should have assisted you in narrowing them down to the most secure and helpful ones.