Best Cryptocurrency Apps
The rise of the crypto industry has enabled the rapid evolution of the accompanying products and services. The following guide presents the best cryptocurrency apps designed to ease the activities of the long-term investor and the short-term trader. From exchange and brokerage apps to portfolio trackers, market data providers, and wallets – let’s find out the best cryptocurrency app in each category.
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1. ZenGo: The Most Secure Crypto Software Wallet App
Usually, I will say that software wallets are nowhere near the hardware ones in terms of security. However, ZenGo takes the reliability of mobile cryptocurrency wallets to the next level.
The app is designed to overcome the risk of having a single point of failure. To do that, it separates your private key into two parts and distributes its storage. The first part is stored on ZenGo’s servers, while the other one is kept on your phone. A transaction is only signed and authorized when both parts of the private key interact. There are no seed phases or private keys to manage. The wallet can b fully recovered on any device, and there is no risk of losing funds to a lost password.
ZenGo is renowned for being the first keyless non-custodial software wallet. While this isn’t 100% technically correct (I explain in detail within the ZenGo Wallet review), the facts are clear, the app hasn’t been hacked yet, even though it announced a contest with a prize of 1 Bitcoin for those who manage to steal from a dedicated ZenGo wallet. Furthermore, the team runs a separate project called ZenGo X, which unites researchers from academia and industry that work together to advance crypto security.
The high-level security, paired with the fantastic UI, purse simplicity, and great features, make ZenGo a perfect software wallet solution for beginner and advanced crypto investors.
2. Coinbase: Best Crypto Exchange App
Being at the forefront of the crypto niche requires absolute excellence in any aspect, and Coinbase does just that. Aside from being the best crypto exchange, Coinbase provides a mix of top-notch products, including custodian services, eCommerce payment features, a platform for professional traders (Coinbase Pro), interest-earning accounts, and crypto solutions for institutions.
But nothing indicates the platform’s high-quality service better than its mobile apps. Coinbase has developed functional and intuitive apps that allow its over 68 million users across 100 countries worldwide to buy, sell and store cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, BAT, USDT, ZRX, and many more.
The Coinbase apps are easy-to-use and highly-intuitive, making them a convenient choice for cryptocurrency newcomers. Their dashboards provide quick access to 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.
Another distinguishing feature of the Coinbase app is the news feed filtering the best picks from Coin Telegraph, CoinDesk, and other top-tier industry media, as well as the real-time price alerts that help track the latest developments in the cryptocurrency world easily and on-the-go. Also, Coinbase recently announced to aim to create the best NFT marketplace where people can buy and sell nonfungible tokens.
3. BlockFi: Best Crypto Interest Account
The BlockFi interest account pushes BlockFi to the list of the best crypto apps, and it is one of the best crypto savings accounts with the highest yields. The Tier 1 compounding interest varies between 3.25% and a stunning 9.5% on your cryptocurrency holdings.
There are two major benefits of using the BlockFi interest account (BIA). First of all, you can use your existing cryptocurrency portfolio to earn interest on your coin holdings like Bitcoin and Etherium. The annual percentage yield for dedicated crypto holdings goes as high as 5.0%.
Second, a more conservative way of crypto investing by holding stable coins like USDC GUSD and PAX earns interests of 9.5% per year. The benefit of stable coins is that they correlate with major currencies like USD. Therefore stable coins are less volatile, and an 9.5% APY is exceptional.
The interest earned is paid out to account holders at the beginning of every month, and the compounding effect increases the annual yield for BlockFi clients. The full list of interest rates can be found within the comprehensive BlockFi review.
In addition to the interest account, a trading account to trade cryptocurrency and crypto-backed loans with a 4.5% APR are available.
4. Blockchain.com: Best Crypto App for Beginners
Blockchain is among the most popular cryptocurrency apps, allowing its users to store, buy, and sell Bitcoin, altcoins and fiat currencies easily.
According to Blockchain.com, the mobile app serves over 31M verified users, and since its launch in 2011, it has processed over $1 Trillion in crypto transactions for users from over 200 countries. Blockchain.com’s mobile solution is available in 21 languages.
Blockchain supports many cryptocurrencies, so even the user interested in trading exotic altcoins will find Blockchain useful. The app allows the crypto trader to make crypto-to-crypto conversions and send and receive coins with just a few taps with your debit card. Its UI is very clean and simplistic, making it a suitable choice for complete beginners.
Regarding the app’s security features, it is worth noting that Blockchain employs 2FA, PIN protection, and TOR blocking.
But we should not look at the solution only as a wallet app. Users can also take advantage of the built-in Bitcoin savings account (opportunity to earn interest of up to 12%) and crypto credit lines with Bitcoin as collateral.
5. Telegram: Best Communication Platform in the Crypto Space
The cryptocurrency investment community is growing by the day. To stay in touch, exchange ideas, and discuss opportunities, it needs to have a reliable communication channel.
Telegram is a messaging app that allows you to have anonymous chats and group conversations with users from all over the world.
Bitcoin investors, entrepreneurs, and traders use it because it is faster, more secure, and also very intuitive. That is why many crypto projects rely on Telegram as a key communication and support channel to connect with their investors or users.
It has become so popular that, in recent years, numerous cases were reported where a large group of investors gather together in a secret Telegram channel and collectively plan actions to generate buy or sell sentiment and influence the price of particular coins.
6. Brave: Best Mobile Browser Solution
Brave is a web browser tool and built-in VPN solution that has taken the world by storm. It is enjoyed by those in the blockchain community and regular users who are tired of ads and tracking and would instead prefer a private and untraceable browser.
Several characteristics make Brave stand out. The platform is built around the idea of anonymity and data protection. It is safer, faster, and even rewards you for using it with Basic Attention Tokens (BAT). You can exchange them for gift cards and premium content or award your favorite publishers and advertisers. This puts you in complete control of the content you see.
Brave has an integrated Tor searching engine and even protects you against malware.
To use Brave, you won’t have to sacrifice the familiar Google Chrome experience as you will have access to the same extensions.
7. Nomics: Best Digital Assets Market Data Provider
Today, plenty of service providers have price tracking functionalities. But have you ever wondered whether the liquidity and the cryptocurrency prices you are presented with are transparent? If you haven’t, you will be disappointed to learn that 50% to 70% of the Bitcoin and altcoin liquidity you have been seeing is actually fake. This means that if you decide to trade on a particular exchange, you might be stuck within your order and lose money due to being deceived by skewed information.
Nomics solves this problem by presenting clear and transparent data regarding prices and liquidity for hundreds of assets and exchanges. It does that through direct integration of its API within cryptocurrency exchanges to bring you real-time and transparent data directly from the source.
Its site and the iOS and Android apps show you the real trading volume and timely price information for the assets you are interested in. That way, you can easily spot the most transparent crypto exchanges to trade on and your portfolio’s momentum on-the-go.
8. Blockfolio: Best Crypto Portfolio Tracker App
Today, many investors and traders rely on third-party portfolio trackers to monitor their cryptocurrency investments. Blockfolio is considered the world’s most popular cryptocurrency tracking app. It comes for free and is packed with a variety of useful functionalities.
You can keep track of over 10 000 cryptocurrencies traded on over 500 exchanges. Around 6M users currently trust Bockfolio for their portfolio monitoring needs and take advantage of its functionalities to keep track of the latest prices, market data, trend changes, news, and more. You can also connect Blockfolio to your favorite trading venues to automate the tracking process or the preferred communication channels to stay on top of relevant updates.
9. Exodus: Best Bitcoin and Altcoins Software Wallet
If you are looking for an easy-to-navigate, intuitive, and functional hot wallet, then Exodus is the one to go with. Although several other alternatives are also worth a mention, Exodus brings a combination of functionalities that makes it the native choice for thousands of users out there.
The software wallet solution supports 125 cryptocurrencies and has built-in trading features allowing you to buy and sell digital assets on-the-go. There are also live charts and portfolio tracking functionalities, 24 hours customer support, and easy integration and offline transaction functionalities for Trezor devices.
10. Parity: Best App To Turn Your Old Phone Into a Hardware Wallet
Parity makes it to the list due to its unique functionality. It allows you to turn your old phone into a 100% secure offline hardware wallet.
Parity was designed as the best alternative to traditional hardware cryptocurrency wallets and, according to its team, is the simplest solution for cold storage. Once installed, it doesn’t require any internet connection. All private keys are stored securely and used only when you need to authorize transactions, while data is transmitted “over the air” via QR codes. To make sure there no external access to your iPhone or Android device is possible, you can factory reset it and run it under airplane mode.
Regarding the app’s security features and trustworthiness, it is worth noting that it was founded by former Ethereum Foundation security chief Jutta Steiner and went through periodical audits and security checks.
Parity doesn’t support Bitcoin, however. It works with Ethereum, Ethereum-like, and Polkadot blockchains.
11. eToro: Best Conventional Cryptocurrency Broker
Suppose you are interested in cryptocurrencies just for speculative purposes and don’t really fancy holding them in your wallet for the long-term. In that case, you might consider trading through one of the popular brokerages like eToro (Revolut and Robinhood are also worth a shout).
With eToro, you can trade over 90 trading pairs quickly and with minimum effort. You can also take advantage of one of the broker’s top competitive advantages – the opportunity to copy successful traders and clone their strategies.
Trading cryptocurrencies through eToro’s investment app is free (0% commission), with competitive spreads, and most importantly – very easy and convenient. You can start immediately simply by buying with a debit or credit card or, if you prefer, by topping up with fiat currencies through your bank account.
However, bear in mind that buying cryptocurrencies through trading platforms like eToro (and the other brokers) means you will have just a virtual balance and won’t really retain the assets’ ownership until you cash out. Besides, crypto-cross pairs trades are facilitated through CFDs (leverage is also available).
The eToro review explains in detail what traders can expect to get when opening an account.
The truth is, in the last couple of years, many prominent cryptocurrency projects were born, and today there are so many useful applications worth a mention. No matter whether you are an iPhone or Android user, whether you are a trader or a long-term investor, or if you are situated in the United States or Europe, there are plenty of great solutions for your needs. Combining the power of the best cryptocurrency apps and the best crypto exchange is the safest way to succeed in this competitive market.
That is why it is essential to do your research and deep-dive in each solution’s pros and cons to find the best fit for your needs. Always keep track of user reviews and opinions in the app stores, on forums like Reddit or Bitcointalk, in Trustpilot, and other credible online sources. It ensures that the one you decide to go with is proven and with an abundance of satisfied users.
Please consider reading the article about the best crypto day trading platform if you plan to trade cryptocurrencies actively.
Best Crypto App FAQ
What to Look for in a Crypto App
Real Time Data
In trading, it is never a good idea being late to the party. Delayed data feeds will make it impossible for you to profit from short term movements in the underlying cryptocurrency. Make sure to use one of the best cryptocurrency apps which offer not only the Bitcoin price in real-time but also all other currency pricing feeds.
Cryptocurrency Portfolio Features
Make sure that your portfolio has some cool and helpful features as price alerts, a tracker app, and a good portfolio view that can be used from your phone. Not all apps work on all phones, and not every app does accept installations on every phone. Just make sure to test the app on your device before founding money or attaching your wallet.
What is Cryptocurrency
A cryptocurrency is a digital form of currency that works as a medium of exchange for assets traded on decentralized platforms. Unlike fiat currencies (USD, Euro, JPY, etc.) that are regulated by their respective states, cryptos rely on cryptography to control the creation of new units of currencies.
Cryptocurrencies are decentralized, transparent, and uncontrolled by any particular organization or government; they exist on a network called blockchain.
Inside the blockchain technology, cryptocurrency transactions undergo various processes as highlighted below:
- If A wants to send money to B, the transaction appears online as a “block.”
- The block is then broadcasted to every party on the network
- Those within the network approve the transaction after validation
- The next stage will be for the block to be added to the chain, which gives an indelible record of transactions
- The money is then moved from A to B.
Before investing in the crypto space, there are specific rules you’ll need to consider. They include:
- Don’t invest what you’re not willing to lose – this is a rule that applies to almost all investments. It’s quite simple and straightforward, understand the level of risk you’re willing to take and don’t stretch beyond that limit.
- Diversify, diversify, and diversify. Don’t rely on only one cryptocurrency. Spread your risk by investing in other digital currencies too.
- Understand the currency you’re investing in. Go through its whitepaper and analyze whether its model makes sense.
- Do a background check on the team behind a particular coin. Are they qualified in terms of knowledge and experience? Do they have a clear roadmap for their projects?
- Evaluate the market cap of a currency. The higher the mark capitalization, the higher the liquidity of an asset.
- Analyze any partnerships or agreements in existence. Are they likely to have a positive impact on the cryptocurrency?
- Customer support: How responsive are they to customer queries?
- Conduct in-depth research about the currencies you wish to invest in – a great place to start is on cryptocurrency forums such as Coin Telegraph, Social media groups, or other platforms such as Reddit and LinkedIn.
- Share your thoughts and concerns with others to be able to get feedback on what you already know. This might save you from carrying around any false information that may otherwise affect your investment.
- Don’t trust everything you read or hear – understand that some of the information represented on media platforms are simply malicious in nature and are sometimes only meant to throw the market in a state of fear and uncertainty. Also, be cautious of any links or emails you come across online, the crypto space is one of those investment areas marred with the worst of scams.
- Always remember why you decided to invest in cryptocurrencies and abide by that reason. Whether it is to make a quick buck or to invest for the long-haul, remain patient and calm. The market will sometimes be emotional, but if you believe in the currencies you invested in, you’ve got to stick to your gut.
How to Start Investing in Cryptocurrency
There are a few steps that one needs to follow to start investing in cryptocurrencies regardless of the coin(s) you choose. Essentially, below are the standard steps that you’ll need to follow to get started:
Step 1: Get a cryptocurrency wallet
A cryptocurrency wallet is one of the most important tools when looking to venture into cryptocurrencies. Just like conventional wallets that are used to store our physical money, crypto wallets help store your digital money safe.
There are several wallets to choose from, including online, desktop, and hardware wallets. But as much as you may have a lot of wallets to choose from, consider going for the hardware ones that offer a safe and offline way of storing your assets.
And while at it, ensure that you go for a wallet that is compatible with a decent number of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Dash, and many more.
Step 2: Sign Up on Cryptocurrency Trading Platform
Cryptocurrency trading platforms are also known as exchanges – and they are platforms that enable you to buy, sell, and exchange cryptocurrencies. However, some platforms allow users only to buy and sell digital currencies, while others permit the trading of cryptocurrencies with fiat currencies.
Depending on the exchange you sign up on, you will be able to invest in a number of coins. The point to note here is that you want to go for coins that offer high liquidities. Like I mentioned earlier, this will make it easier for you to convert your digital assets back to fiat money. The big four (Bitcoin, Ethereum, Litecoin, Ripple) are among some of the most liquid cryptocurrency assets in existence today.
There are hundreds of exchanges that can get you signed up easily, but as a starter, you probably want to narrow down to a few reputable ones. Depending on your location, some of the well-established trading platforms globally include Coinbase, Coinmama, Binance, Paxful, Cex.io, Bittrex, just to name but a few.
The choice of exchange you use may depend on your location, be sure to find out whether a given platform operates in your country before signing up on it.
Besides, the process of signing up on some of these platforms may vary, but they are mostly standard in terms of requirements. Some of the standard requirements include your full name, a valid email address, and a password, a phone number, identification documents, and/or a passport photo. You may not be required to produce all these documents upon signing up, but most exchanges require you to avail them for you to increase your transaction limits.
Step 3: Transfer your Digital Assets to Your Wallet
After signing up on your platform of choice and acquiring your assets, you’ll need to transfer them to your wallet. Most platforms offer free online wallets on their exchanges, but if history serves us right, one can never be too careful with online businesses, can they? Here are some of the terrifying hacks in the history of cryptos. I hope that scared you enough to know how important it is to store your funds offline.
In case you need to exchange your coins with other cryptocurrencies, you’ll need to transfer the funds back to your exchange of choice. The process usually is quite straightforward. You’ll paste the address of your wallet to your exchange to transfer funds to the exchange. Next, you’ll need to find the trading pair of your choice, consider this example:
Let’s say you wish to exchange Bitcoin for Ethereum. After sending your Bitcoin to an exchange, find a trading pair indicated as BTC/ETH, this means that you’ll be exchanging Bitcoin for Ethereum. Once you identify your trading pair, follow the steps to complete the exchange, and transfer the funds back to your wallet.
Best Cryptocurrency Apps Summary
In a nutshell, investing in a cryptocurrency involves acquiring a wallet, signing up on an exchange, buying your coins, and transferring them to your offline wallet for safekeeping.
Cryptocurrency investment is quite promising in terms of returns. Some assets have, in the past, recorded over a 2,000% gain in their market prices within a few months. However, when the market undergoes a correction, the fluctuation of prices can also be quite deep. In the past few months of 2020, the cryptocurrency market has experienced an upward and a downward trend in prices. This has discouraged many people from this investment line.
Finally, it is important to understand that every investment has its fair share of ups and downs, the most important thing is to understand the kind of investment you are in, its challenges, and how to get past them. Once that happens, it will be much easier for you to trade profitably in the cryptocurrency space as well as other investment areas.
What is a crypto exchange?
Cryptocurrency exchanges are online market places where market participants buy and sell cryptos like Bitcoin, Litecoin, Dogecoin, etc. The exchange matches the buy and sell orders and confirms a transaction to the investor.
What is a crypto wallet?
A crypto wallet can be a physical hardware device or software based wallet app. Crypto investors need such wallets to store their cryptocurrencies. Brokers are an alternative solution but using a broker makes it impossible to stay anonymous.