5 Best Cryptocurrency Apps for Beginners 2022 – Economic Times

5 Best Cryptocurrency Apps for Beginners 2022 – Economic Times

Did you know that you can buy, sell, or trade digital currencies while on the move? All you need is one of the best crypto apps.

In this guide, we explore the five best crypto trading apps to consider in 2022 alongside comprehensive reviews.

The Best Crypto Apps for 2022

If you’re looking for a quick snapshot of the very best crypto apps in the market right now – consider the five providers outlined below.

eToro – Overall Best Crypto App in 2022

Webull – Best App to Buy Cryptocurrency with Small Stakes

Coinbase – Best App to Invest in Cryptocurrency for Beginners

Binance – Best App for Cryptocurrency Trading

Gemini – Best Cryptocurrency App for Large Investors

Scroll down to find out why we think the above five providers offer the best crypto apps on the market.

The Top 5 Crypto Trading Apps Reviewed

In choosing the best crypto trading apps for your skillset and financial goals – there are several core metrics that you need to consider.

This includes regulation and safety, supported crypto markets, fees and commissions, and user-friendliness.

With this in mind, below we offer reviews of the best crypto trading apps in the market right now.

1. eToro – Overall Best Crypto App in 2022

After reviewing more than 50+ providers, we concluded that eToro offers the very best crypto app in 2022. In choosing this app to trade on the move, you will be using a brokerage firm authored and regulated by multiple tier-one financial bodies. This includes the SEC, ASIC, CySEC, and the FCA. This ensures that your trades are carried out in safety.

When downloading the eToro app – which is fully compatible with both iOS and Android devices, you will have access to a huge number of markets. This covers large-cap, top-10 digital assets – alongside plenty of smaller coins. For instance, DeFi coins like AAVE, Cosmos, Decentraland, and Polkadot are available to buy and sell on a 24/7 basis. It has 43+ crypto assets in total and allows you to make deposits in fiat, via bank transfer, debit/credit card, and Paypal.

And, best of all, this top-rated crypto trading app offers some of the most competitive fees in the market. This is because you will only need to pay the spread when placing orders. Plus, if you’re based in the US, you can deposit and withdraw funds fee-free. This covers all supported payment methods – which includes debit/credit cards, e-wallets, and bank wires.

In addition to buying and selling crypto, the eToro app provides access to thousands of stocks and ETFs, as well as tradable markets on forex, commodities, and indices. Furthermore, the eToro app even allows you to trade passively – as you can select a successful investor to copy like-for-like. Finally, eToro also offers diversified Smart Portfolios that are professionally managed. It’s also highly rated on the Economy watch best bitcoin exchange UK guide.

Buy Cryptocurrency on eToro Now

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Webull – Best App to Buy Cryptocurrency with Small Stakes

If you’re on a budget or simply looking to risk small amounts, Webull could be one of the best crypto apps for this purpose. Crucially, not only can you get started with a Webull account without needing to meet a minimum deposit, but you can buy and sell crypto from just $1 per trade. This allows you to get to grips with crypto trading with an inconsequential amount of capital.

When it comes to fees and commissions, Webull offers all of its markets on a spread-only basis. We found that crypto trades come with a minimum spread of 1% – which isn’t overly competitive. To fund your Webull account, you can choose from ACH or a bank wire. The latter will, however, cost you $8 in fees to deposit, and $25 when cashing out.

Buy Cryptocurrency on Webull Now

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Coinbase – Best App to Invest in Cryptocurrency for Beginners

Next up we have Coinbase, which is potentially one of the best crypto apps for beginners. As soon as you download the app to your device – you will notice straight away just how user-friendly the interface is. As such, if you have never bought or sold crypto previously, the Coinbase app could be right for you.

However, the main issue we have with this newbie-friendly trading app is that in return for convenience, you will be charged hefty fees. For instance, standard trading commissions at Coinbase amount to 1.49% per slide – which doesn’t include the spread. If buying crypto via the app with a debit/credit card – you’ll pay whopping 3.99%.

Buy Cryptocurrency on Coinbase

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Binance – Best App for Cryptocurrency Trading

If you’re an active trader and seek a crypto app that offers heaps of low-cost markets – you might want to consider Binance. This popular trading app facilitates tens of billions of dollars worth of volume every day. You will find super-tight spreads across hundreds of crypto pairs – and commissions amount to just 0.10% per slide.

In terms of funding your account, options and fees vary depending on your country of residence. For example, US clients get a good deal here – with debit/credit card deposits costing just 0.5%. However, users from other parts of the world can pay as much as 4% for the same transaction. The Binance app is free to download and available on both iOS and Android devices. It’s also available for those looking to buy bitcoin uk.

Buy Cryptocurrency on Binance

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

5. Gemini – Best Cryptocurrency App for Large Investors

If you consider yourself a seasoned trader that typically allocates large sums to your investments – Gemini could be the best crypto app for you. This top-rated cryptocurrency exchange is heavily regulated in the US – and one of the few crypto platforms to be licensed by the New York State Department of Financial Services.

When electing to download this crypto app to your phone, you will benefit from institutional-grade security alongside a range of insurance schemes. With that said, the number of crypto assets supported on the app is somewhat limited – and fees are on the high side. For instance, you’ll pay a standard commission of 1.49% per slide on all trades over $200.

The Best Crypto Apps Compared

Buy Cryptos on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Supported coins, fees, commissions, and other important metrics can change at any given time – so be sure to check this before opening an account with your chosen broker.

How to Choose the Best Cryptocurrency App for You

Regulation

Once again, this is why we think that eToro is one of the best apps for cryptocurrency trading – as the brokerage firm is regulated by several reputable bodies.

In the US alone, this includes regulation with the SEC and registration with FINRA. eToro is also regulated by the FCA (UK), ASIC (Australia), and CySEC (Cyprus).

Fees, commissions and spreads

You need to explore how much you will be charged every time you place a buy or sell order.

From the crypto app providers we discussed today, the likes of Coinbase and Gemini came out as the most expensive.

  • This is because both crypto apps have a standard commission policy of 1.49%
  • This simply means that you will pay this 1.49% charge when you buy a cryptocurrency and again when you sell
  • At eToro, however, you will only need to cover the spread when you trade cryptos – which is the markup between the bid and ask price
  • This starts at a very reasonable 0.75% for Bitcoin

In some cases, you might find that your chosen crypto app offers reduced commissions when you increase your 30-day trading volume.

In other cases – such as at Binance, reduced commissions are offered when you hold the platform’s native cryptocurrency in your portfolio. This is why eToro is our preferred crypto app of 2022.

Buy Cryptos on eToro Now

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Disclaimer: Content Produced by CryptoPR

Source: https://economictimes.indiatimes.com/industry/banking/finance/5-best-cryptocurrency-apps-for-beginners-2022/articleshow/88974411.cms