Cryptocurrency is the new way of gaining wealth. With the potential to be stored (holding), traded (buying and selling), or invested (lending or staking), cryptocurrency opens new doors. A cryptocurrency is a type of digital asset based on a network distributed across several computers. Due to their decentralized structure, they can exist independently of governments and central authorities. These coins, including Bitcoins, Ethereum, Dogecoin, etc., can be bought and stored in a digital wallet. These days, institutions and businesses accept cryptocurrency as a means of payment, and some even use them to pay their workers.
If you are a newbie looking to trade and exchange cryptocurrency, here are the 10 best apps to buy and sell cryptocurrency.
Top 10 Apps to Buy Cryptocurrency
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
Kraken – Best Crypto Trading App for Low Fees
Luno – Best Crypto Trading App for Beginners
Blockchain – Best Crypto App for Beginners
BlockFi – Best Crypto Interest Account
Bittrex – Best for account security
Uphold – Best for Altcoins
eToro:
eToro is one of the best apps to buy and sell cryptocurrencies. The app offers a range of 15 top coins and even its Bitcoin wallet, which supports over 120 digital currencies. Besides being an app to buy cryptocurrency, eToro also has a trading platform. It’s incredibly simple to transfer assets between the eToro trading app and the eToro wallet app, making coin trading relatively easy. You can also switch between the two apps using the same login credentials.
The app is compatible with both Android and IOS users and can be downloaded on both the play store and Appstore.
The app also gives its users free access to a large number of stocks and ETFs and a forex market. The added benefit of buying and selling with eToro is that you wouldn’t be trading alone. This app includes a social network where you can follow other traders, share ideas, and even trade virtual currency automatically by following the moves of professional cryptocurrency traders. It has an easy-to-use interface that makes it easy for new users to understand and navigate through.
Finally, the app supports payment methods like debit/credit cards and bank transfers.
Webull:
Another app to buy cryptocurrency is Webull. The app is good for new users looking to start their journey into crypto and is on a budget. Webull gives its users the option to stake small, and you don’t need to meet a minimum deposit. You can buy and sell crypto for $1 per trade.
Also, Webull provides spread-only trading on all of its markets. We noticed that crypto trades have a minimum spread of 1%, which isn’t particularly competitive. You have the option of funding your Webull account via ACH or bank wire. This, on the other hand, will cost you $8 to deposit and $25 on withdrawal.
Again, Webull is simple to use, with good trading functionality and a comprehensive set of tools and functionality that includes news, fundamental and technical analysis, and stock screeners. Margin trading is available to accounts of $2000 and higher.
Coinbase:
Coinbase is another reliable app to buy cryptocurrency. The app, which provides a clean interface and a user-friendly feel, is the best for beginners coming into crypto space. With over 40 million users in over 100 countries, Coinbase is also a fantastic altcoin app because it allows you to trade over 3,000 coins, including several altcoins that you won’t find anywhere else.
Coinbase has a mobile wallet, which can be used along with the Coinbase or Coinbase Pro apps for trading. You can send money to friends and family or pay with digital currencies. The app dashboards allow you to quickly access your portfolio and allow you to track its growth over time. You can also use the Coinbase app to earn rewards and returns for particular coins you hold.
You can also earn interest on eligible balances or receive a small amount of a new currency via Coinbase Earn. The company is regulated in both the U.S. and the U.K.
Binance:
If you’re looking for the best app to buy cryptocurrency, look not beyond Binance. As one of the top trading platforms today, Binance is regarded highly by top traders and crypto enthusiasts around the world.
Binance provides excellent charting capabilities and a plethora of technical indicators built-in. Most of its indicators can be tailored to fit any custom strategy with only a few taps.
Furthermore, Binance is one of the safest apps to trade cryptocurrencies, as it offers trading margins and futures. Although Binance doesn’t have most coins, it’s still a safe app to buy cryptocurrency. And with over 200 popular cryptocurrencies available, you won’t be short on options. This app also provides crypto options, Bitcoin futures contracts, and leveraged tokens. These derivatives provide advanced traders with new ways to manage risk and speculate on price changes.
Binance’s fees are one of the most affordable in the industry. While US-based users will pay slightly more on Binance.us, the fees are still relatively low than other leading platforms. The Binance app is available for both iOS and Android devices and is free to download.
Finally, Binance also has the peer-to-peer crypto purchase option, which allows you to buy directly from other users like you.
Gemini:
This is another app to buy a cryptocurrency. Besides crypto purchases, Gemini is renowned for being the home of crypto investors and traders who deal in large volumes.
That said, Gemini allows you to trade 26 of the most popular coins, including Bitcoin, Ethereum, Litecoin, and others. The app is one of the few cryptocurrency platforms to be licensed by the New York state department of financial services.
Gemini provides a user-friendly platform and extensive educational resources, making it a viable option for new crypto investors learning the ropes. The crypto exchange’s robust security offerings and APY-earning crypto loan feature should entice crypto traders looking to expand their knowledge.
Kraken:
Karen is also one of the best apps to buy and sell cryptocurrency. The platform offers users zero commission charges on crypto buy from funds deposited in the account. Furthermore, if you create liquidity in the market, you can get a 0.10 percent discount on the spread.
Karen is one of the cheapest platforms to trade and exchange cryptocurrencies. The exchange also supports futures trading for Ripple, Litecoin, Ethereum, and others. It has a good and friendly interface for trading, but you will have to download the futures trading app out of the Kraken.
One key feature that distinguishes Kraken from other exchanges is its emphasis on customer service. You can contact the exchange via live chat from within the app 24 hours a day, 7 days a week. Kraken is registered with FinCEN (the Financial Crimes Enforcement Network) in the United States, but it is not regulated by a trading authority.
Luno:
Luno is one of the best apps to buy and sell cryptocurrencies, especially if you’re a beginner. The app is designed to make buying and selling cryptocurrency as simple as possible, even if you’re new to the market. All you have to do is deposit money, choose a coin, and then press the ‘Buy’ option to invest. Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash are all supported by the app.
Luno app is highly secure, easy to use, and has very low fees. The charges fee is low for investors who trade high monthly volume compared to other platforms around. It also provides a wallet in which its users can store their assets.
Luno also provides charts and indicators for its old and existing users. You can get the app on both the play store and Appstore
BlockFi:
BlockFi is another app to buy cryptocurrency. BlockFi is one of the best crypto exchanges for earning interest because it allows users to earn interest on their crypto and borrow money using Bitcoin as collateral.
The platform offers up to 9.5% APY as monthly compounding interest to users who keep their crypto assets in the account. BlockFi also makes use of two-factor authentication to protect users’ addresses from theft and keep data protected.
Finally, BlockFi offers up to 12 cryptocurrencies, depending on state regulations.
Blockchain:
Blockchain is one of the most popular cryptocurrency apps, allowing users to easily store, buy, and sell Bitcoin, altcoins, and fiat currencies.
As the first Bitcoin blockchain explorer developed, this is definitely a credible app to buy cryptocurrency.
Blockchain supports a wide range of cryptocurrencies, so even users interested in trading exotic altcoins will find it useful. The app enables the crypto trader to perform crypto-to-crypto conversions as well as send and receive coins with a few taps of your debit card. Its user interface is very clean and simple, making it an excellent choice for complete beginners. In terms of security features, Blockchain employs 2FA, PIN protection, and TOR blocking.
However, we should not consider the solution solely as a wallet app. The app also gives comes with an advantage of a built-in Bitcoin savings account (with the potential to earn up to 12% interest) and crypto credit lines using Bitcoin as collateral.
Blockchain has apps for both iOS and Android devices.
Bittrex:
Bittrex has an instant Buy and Sell feature, which allows you to exchange bitcoin and other assets with the click of a button. Bittrex does not charge any fees for deposits, especially USD deposits. Withdrawals have no fees either. However, blockchain/crypto withdrawals are subject to small network fees.
Bittrex is also safe for trading and exchange as it uses two-factor authentication and a multi-stage wallet strategy to ensure funds are kept secure.
Bittrex service charges are extremely low compared to other cryptocurrency platforms. You can get the app on both IOS and Android devices.
Uphold:
This is another great app to buy cryptocurrency, especially if you’re looking to buy altcoins. Uphold is a cutting-edge desktop and mobile trading platform that offers a one-of-a-kind “Anything-to-Anything” trading experience. You don’t have to make multiple transfers to buy metals, cryptocurrencies, or stocks with Uphold. You can trade assets directly with a bank account, cryptocurrency network, or debit/credit card with 0% trading commissions.
You can also trade between assets in different classes in one step, which is unique. One trade, for example, is Bitcoin to Tesla. Similarly, there is only one step in trading between Facebook and Tesla stock, with no intermediate conversion into USD. As a bridge to the exchange, any other trading platform will force you to use U.S. Dollars.
Uphold’s architecture makes it incredibly simple to use and cost-effective.
Without incurring additional fees, you can send money or other assets to friends or family members in seconds. It’s still a beginner-friendly option.
What you should look out for before picking a cryptocurrency platform:
Before you pick an app to buy cryptocurrency, there are certain criteria you need to look out for.
Firstly, you need to verify if the platform is regulated. In the sense that the crypto company you’re looking to invest in is insured and protected. Choose an exchange that is regulated by a U.S. agency whenever possible, even if it is only at the state level. International financial authorities, such as the Financial Conduct Authority of the United Kingdom, are also extremely reliable.
The most important thing is to make sure that whatever app you use is safe from fraud and secure with your money. Insured wallets, segregated client funds, and financial disclosures are all features to look out for.
Secondly, one of the most important factors we consider when evaluating the best cryptocurrency apps is the user experience. The more user-friendly your exchange app is, the more likely you are to trade with it rather than miss out on potentially lucrative opportunities.
A clearly defined menu is one thing to look for, either in tabs at the bottom of your screen or in an easily accessible sidebar. It should be as simple as possible to switch between your watchlists, charting pages, and order forms, so you can act quickly on fast-moving opportunities.
Again, you also have to look at the tradable assets on the platform. Some of these platforms only trade bitcoins and do not give the option to trade other altcoins or tokens. Advanced traders should look for cryptocurrency exchange apps that provide crypto derivatives like futures, leveraged tokens, and options. These are high-risk assets that require leverage, so only experienced crypto traders should use them. Ensure that the app has the necessary coins that you need to trade before signing up for it.
Also, the Trading fee is another expectation one should look out for before using a cryptocurrencies app. Most apps don’t charge commissions or spread, especially from withdrawals, deposits, and funding of accounts, while others do. I advise choosing a broker that charges few or no commissions and has the smallest possible spreads. Although you won’t be able to completely avoid trading fees, you should do everything you can to reduce them. Calculate how much an exchange app’s trading fees will cost you by considering how frequently you’ll trade and what your average trade size will be.
Payment method is also a thing one should look out for when picking a cryptocurrency app. You will need to fund your account to trade, exchange, and carry out other transactions. As such, the mode of payment matters. Some app accepts debit, credit card, or transfer from an existing crypto wallet.
Check whether you can deposit funds directly from e-wallets like PayPal, Neteller, or Skrill if you use them. Mobile-friendly payment options like Google Pay and Apple Pay are also worth looking for. All this you must examine before you pick a particular app for trading.
Device compatibility: you have to ensure the mobile app you are downloading is compatible with your devices. Check for the app on your app downloader and see if it supports your device. Do the same for your desktop app. This is to avoid any form of phone lagging that might affect your trade.
Customer service: you might not give customer service much thought until you need assistance with your account. It can mean the difference between making money and missing out on trading opportunities if you can get help quickly.
Having access to high-quality trading tools is essential whether you plan to actively trade cryptocurrencies or invest and hold for the long term.
For educational resources and analysis tools, you’ll need detailed technical charts, in particular, to help you analyze price movements and find the best time to buy and sell cryptocurrencies. Look for top crypto apps that include dozens or hundreds of built-in technical studies and drawing tools, as well as multiple chart styles and layouts that are easily customizable. On mobile devices, you should be able to view charts in full-screen mode.
A news feed, coin screener, or social trading networks are examples of additional tools that can be useful. Some of the best crypto portfolio apps also include educational resources for new traders, such as video tutorials.
Frequently Asked Questions about cryptocurrency apps
- What exactly are cryptocurrencies? And why is there so much buzz about cryptos?
Cryptocurrencies are the digital equivalent of fiat currencies – your dollars, pounds, Euro, Yen, etc.
The same way you use a regular fiat currency to transact (buy and sell), you can rely on cryptos to do the same. Recently, though, cryptos have emerged beyond being just a tool for basic transactions. Nowadays, many crypto coins enjoy use cases that go beyond the realm of the likes of USD. For example, the advent of cryptos has made it possible to realize major tech breakthroughs like the NFTs and other impending successes like Web 3.0.
Simply put, cryptocurrencies have given man the chance to go beyond where traditional ‘money’ could take him.
There’s so much buzz around cryptocurrencies because of the number of awesome benefits it offers. For example, cryptocurrencies now make it possible for individuals and businesses to send and receive payments at low cost and high speed. Recently, a transaction valued at around $99 million litecoin (LTC) cost only $0.40 in transaction fees and took roughly two minutes to complete. Never in the history of fiat currencies have such transactions been completed with such speed and low charge.
By and large, huge perks like this are why everyone’s crazy about cryptos.
- What can I do with my cryptocurrencies after buying them?
Let’s assume you’ve bought BTC from the best app to buy and sell cryptocurrencies; what’s next? What can you do with these coins?
To be honest, there are a million things you can do with your crypto once you buy them.
Below are some of the best use cases that come to mind right now:
- You can earn interest with yield farming
In the beginning, crypto owners would hold their coins in their wallets after buying and then wait until there’s a rise in value (pump) to resell for profit. Today, you don’t have to wait that long to earn from your coins.
You can simply visit sites like Crypto.com, YouHoldler, Celsius, Holdnaut, etc., to stake or lend your crypto coins. Whereas banks would reward you with meager earnings on your savings account, regular crypto platforms would give you up to 10% per annum in interest.
- Store of wealth
Buying Bitcoin, Litecoin, or any of those coins can be a great way to store wealth. As you know, these assets appreciate with time.
- Tech startup investor
Owning a crypto makes you qualified to invest in several innovative tech startup projects. Many of these projects are usually on the hunt for investments and look to reward investors with newly-created crypto tokens.
With your BTC or ETH, you can easily join a project with a good potential and earn more rewards in the long run.
- Play-to-earn games
The advent of cryptos has made it possible to now earn real money from playing regular games like
- Plant VS Undead.
- Axie Infinity.
- Decentraland.
- The Sandbox.
These games require you to stake your cryptos in exchange for a chance to win more cryptos.
Other use cases of cryptocurrencies include:
Participating in online contests and competitions
Getting involved in cloud computing
Paying for travel and trips from anywhere in the world
Buying a Lambo, Tesla, and other high-end products
- How does Bitcoin differ from Ethereum and other cryptocurrencies?
The best way to look at cryptocurrencies is as separate, unique entities. In other words, no two cryptos are alike.
Take BTC, for instance; it’s a crypto designed primarily as a digital alternative to traditional currencies. Where you would spend or save USD, BTC was developed to be a digital alternative.
Ethereum, on the other hand, was built to tackle frauds and misrepresentations in numerous fields. With ETH, traditional challenges like fraud, downtime, and third-party interference in operations are easily cut out.
In contrast, Litecoin was designed to primarily function as a digital currency. That is, something you trade and transact with on the internet.
Similar stories and use cases exist for every cryptocurrency out there.
- What are the meanings of terms like ICOs, tokens, shit coins, and the likes in the crypto world?
Coins: refers to any cryptocurrency built on a separate blockchain. Examples of coins include BTC, ETH, etc.
Tokens: refers to cryptocurrency built on existing networks. For example, NFTs are generally tokens, but they’re built on the Ethereum blockchain. The Manchester City Token is another great example of a popular token. It is built on the Chiliz (CHZ) blockchain.
ICOs: The Initial Coin Offering is a way of announcing that a privately held company is about to go public. Usually, this procedure is executed as a way of fund-raising a new cryptocurrency or generating awareness for existing coins.
Shit coins: refers to those coins with no discernable purpose of existence. No one can tell what their use cases are or why they’ve been created. They’re simply created for the sake of it. Some people also categorize shit coins as “the spin-offs of failing or already failed cryptocurrencies.”
Sounds like something you wouldn’t want to buy? Well, you might want to think twice about that. Despite their clear no-value reputation, shitcoins have proven to be a valuable store of wealth over the years. Many experts have been able to study and determine which shit coins will perform best at various points in time. Then they use this information to invest wisely in shitcoins.
- Is it illegal to own Bitcoin and other cryptos?
Absolutely not. Unless your country’s government says otherwise, it’s very legal to own cryptocurrencies.
- How can I buy cryptocurrencies?
You can buy cryptocurrencies by visiting the site of any reputable cryptocurrency exchange. Or you can buy directly from the apps listed above. Mind you; those apps are the best app to buy and sell cryptocurrency.