Getting the most out of your cryptocurrency means being able to trade your coins no matter where you are. Here are five apps that can help.
Cryptocurrencies such as Bitcoin and the multitude of altcoins that have followed it have lately hit all-time highs. However, just because prices are sky-high doesn’t mean the crypto market isn’t still volatile. Therefore, if you plan to trade cryptocurrencies, keep in mind that cryptocurrency marketplaces are unstable. The truth is, even those with a solid reputation aren’t necessarily safe or stable. Cryptocurrencies are a popular target for thieves, so make sure you understand how to trade your coins safely before risking your money.
Binance: The Largest and Safest Place to Trade Your Coins
Binance has a good reputation for being a safe site to buy and sell Bitcoin and other altcoins, of which it supports more than 200.
In addition, Binance claims that its app is protected by its Secure Asset Fund for Users. This is a cold wallet (not linked to the internet) containing 10% of all trading fees collected by the exchange. Furthermore, the app also allows users to save money and claims to generate interest of more than 5%.
Therefore, if you’re new to cryptocurrency trading, the Binance app also includes a “lite” interface. It’s perfect for beginner traders. It might be a suitable option for you.
- Available for iOS and Android.
Coinbase: Security Conscious Coin Trading
Coinbase, another of the main cryptocurrency trading platforms, has a limited selection of coins. However, it provides a lot of security measures.
In addition, they offer $5 in Bitcoin to new customers who sign up and verify their identification.
Coinbase allows you to trade Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Basic Attention Token, Litecoin, 0x, and USD Coin. In addition, you can do so with just a bank account or debit card.
Furthermore, it has smart tools that keep you up to speed on currency performance and news. Additionally, it has a knowledge base where you can learn more about cryptocurrencies and how to trade them.
Coinbase claims to have bank-level protection. In addition, users who lose their smartphones can even disable the Coinbase app to prevent theft.
- Available for iOS and Android.
Robinhood: Trade Stocks and Crypto
This is an app for trading stocks and cryptocurrencies. When it blocked sales of GameStop stocks over a Reddit-fueled boom in early 2021, it received backlash. In addition, it recently crashed during a jump in the price of Dogecoin.
However, despite its flaws, Robinhood is an easy-to-use and beginner-friendly program. Additionally, it supports both cryptocurrency and traditional stock trading. In the app, you can trade Bitcoin Cash, Bitcoin SV, Ethereum Classic, Dogecoin, Bitcoin, Ethereum, and Litecoin.
Last but not least, if you want to invest in cryptocurrencies without having to worry about wallets or other technical aspects, Robinhood is worth a look.
However, you can’t withdraw cryptocurrency from Robinhood. Therefore, if you want to take your crypto out of your exchange and store it in a local wallet, pass on Robinhood.
- Available for iOS and Android.
Sofi: The One-Stop-Shop
Sofi isn’t simply a bitcoin trading app, and it doesn’t just offer equities as well. It’s more of a one-stop-shop for banking, investing, and credit cards than a standalone app.
Sofi provides stocks, cryptocurrency, ETFs, fractional shares, IPOs, credit monitoring, a debit card, loans, and even a $1,000 “claw game” challenge for new accounts.
Purchases made using Sofi’s debit card generate points. Users can redeem points for cryptocurrencies such as Bitcoin and Ethereum.
Sofi also offers automatic investing. It employs algorithms to discover the best prospects for turning assets into returns. Therefore, it allows you to invest without having to supervise your holdings.
- Available for iOS and Android.
Gemini: All About Security
The Winklevoss twins launched the Gemini exchange, which is all about security. Therefore, it implements least-privilege principles for access control in its production environment.
In addition, it mandates two-factor authentication for all accounts. Furthermore, it retains the majority of deposits in offline air-gapped cold storage. Assets in hot storage are insured.
Furthermore, its hardware security modules create and store keys in-house. Additionally, they require many employees’ coordinated activity to operate.
Its entire operation is the first to receive SOC1 Type 1 and SOC 2 Type 2 certification. In short, Gemini’s security is likely to be among the best in the cryptocurrency market.
Gemini also offers Gemini Pay, a service that allows customers to spend cryptocurrency at over 30,000 business locations across the United States.
- Available for iOS and Android.
