Cryptocurrency is a modern means of financial exchange through the use of digital currencies. Digital currencies are unique because they are beyond the restrictions of factors such as the economic collapse of nations.
A cryptocurrency is a great option for anyone interested in amassing personal wealth without restrictions. It is therefore seen as a great investment by many people.
Like any other type of financial investment, cryptocurrency when not handled properly comes with the risk of loss. It is therefore advisable to work with reliable advice and experience when trading Crypto, especially as a beginner.
Cryptocurrency Trading Applications
One of the best ways to trade cryptocurrency is through a reliable crypto trading app. A crypto trading app is a platform which serves as a market for dealing with cryptocurrency.
Crypto apps are built by companies that help facilitate the trade of digital currencies. Although there are many crypto apps out there, not all are reliable.
As a beginner, you must use the right trading platforms to avoid scams and losses. Here’s a list of crypto apps that are best for those new to the trading business.
Best Crypto Apps For Beginners
Without much ado, below are some of the top ranking crypto apps you can kick start your journey into the world of cryptocurrency with;
1. Coinbase
Coinbase was founded in July 2011 by Brian Armstrong and was eventually funded by Fred Erhsam. Ever since it has been a great platform for trading crypto with all its customers.
The platform is known to contain a lot of benefits for its users. It even goes as far as giving out free coins based on some conditions.
Coin base has another platform for trading experts and enthusiasts. With a variety of currencies, Coinbase is a very attractive app for beginners.
Advantages
- It has a variety of currencies
- Users can manage all trades from one dashboard
- It is a simple-to-use and user-friendly software
Disadvantages
- Users may experience high fees or commissions on transaction
- Users have limited control of coins in their account until withdrawn
2. Gemini
The Gemini app was founded in the year 2014 in the united states and remains a trusted trading app for many. Gemini has been voted as one of the safest trading apps ever.
This is due to its insurance plan as well as the security measures taken to secure the app. Till today, the app has never experienced hacking of any form.
Gemini is great in its ability to still pay interest on currencies that have been left idle. Also, you can open an account without having to deposit any funds.
Advantages
- No funds are needed to open an account on the app
- It remains one of the safest trading apps in the united states
- It pays interest on idle currencies
Disadvantages
- Gemini’s trading fees and commissions can be high for beginners
- It has a limited option for cryptocurrencies
3. eToro
eToro was founded in the year 2007 by three men including two brothers. It was established in Tel Aviv where its original name was RetailFx.
eToro is unique in its ability to share lessons from its best traders with others on the platform. This feature helps other traders learn from experts and do better in handling cryptocurrencies.
It doubles as both a trading platform and a social media platform. Traders are allowed to interact and share lessons on this app.
Advantages
- Zero per cent commission on transactions
- It has interactive app features that allow for socializing among users
Disadvantages
- You have limited control over the coins in your wallet until you withdraw them
- It is more of a short-term rather than long-term form of trading
4. Anycoin
This app began in the year 2013 among three friends who took an interest in the rising fin-tech industries. The app has been in existence for over eight years giving its customers access to over 25 options of cryptocurrencies.
Anycoin’s uniqueness is in its speed; transactions on Anycoin are relatively faster than any other trading app. From the beginning, its mission has been to make the buying of Cryptocurrency as simple as possible. On the app, transactions are completed instantly
The app has an encrypted security system that removes the fear of it being hacked as the coins are not held on the interface directly. Currencies can be withdrawn and converted easily. Anycoin makes the whole process of buying and selling Crypto as seamless as possible
Although the primary target of the app is the European nations, it is open to users all over the world. The app provides at least five other languages apart from English.
Advantages
- Speedy and easy transactions
- A secure system that eliminates the fear of hacking
- Multiple language options
Disadvantages
- Limited variety of coins
- Limited technical features
Conclusion
The best trading app for a beginner should have important features such as easy-to-use features and content that will help them gain more knowledge about trading.
It can be painstaking to have to search for a reliable app for trading but this list narrows your search down to the best options.
Every app has its advantages and disadvantages. Be sure to stick to your initial goals for trading when looking for an app.
