Trading in Cryptocurrency seems to be intimidating for beginners. Many scam news circulates online, and Worldwide traders get a victim of these scams. The scams continue to prevail even today, and it has never been so easy and straightforward to trade in crypto safely and securely as it is today.
The primary concern when trading in Cryptocurrency is security and safety. Regardless of your purpose, whether you want to hold long-term purchases, trade frequently, or concern for privacy and anonymity, the following trading applications are the best for any use case.
The below list of Best Apps For Cryptocurrency Trading covers the best apps and exchanges for specific traders.
What is Cryptocurrency Trading App?
Cryptocurrency trading application is the platform that facilitates cryptocurrency transactions. It offers a platform where traders can buy and sell different cryptocurrencies. These platforms or exchanges also allow traders to do the following things.
- Exchange and apps hold different digital currencies
- Exchange the crypto tokens and coins for the fiat currency
- Spend the digital currencies for payments and purchasing
- Accessing the resources to hone the skills on digital currencies
So, you have to look for the best Apps for Trading in 2021 to ensure the highest security and safety and allow trading the digital assets smoothly.
Types of Cryptocurrency Apps
- Centralized Apps or Exchanges – The most common trading app is a centralized exchange or app. It is a private trading application offering a platform for trading different cryptocurrencies and coins for Worldwide traders. Traders have to register with these platforms and validate their identities.
- Decentralized Apps or Exchanges – These types of exchanges or apps work as a Bitcoin exchange. It lacks the centralized body to control the trading. It can be considered as a server that operates as a computer, and individuals control it.
What are the Best Apps For Cryptocurrency Trading in 2021?
Coinbase & Coinbase Pro
Coinbase & Coinbase Pro is the commonly used Cryptocurrency trading platform. The trading fee ranges from $0.99 to $2.99, depending upon the value of the trading. Commenced in 2012, Coinbase is the fully regulated trading application, and it is a licensed application for Crypto trading. It holds a license to operate across forty states and territories in America.
- Higher liquidity
- User-friendly interface
- Variety of choices in ALT coins
- No wallet key control available for traders
Binance is one of the best apps for trading for the cryptocurrency commenced in 2017 with the dedication to allow smooth ALT coin trading. The platform offers more than a hundred trading pairs between diverse crypto coins and currencies. In addition, traders would also find a plethora of fiat-crypto pairs at this trading app.
- Variety of crypto coins and trading pairs
- Widely used crypto exchange
- Advanced charting available
- Suitable for advanced traders only
Bisq is the cryptocurrency trading platform that allows opening and accessing accounts for free. In addition, it allows accessing banking products, including saving and checking accounts.
But you would require legal approval for accessing them. You can access Bitcoin without identification and regardless of your location and nationality.
- Android and iOS version available
- 25 different payment modes
- Non-KYC platform
- Transaction speed is slow based on the payment mode chosen
Gemini is the highly-rated cryptocurrency trading application that provides plenty of crypto coins and currencies for trading. It is dedicated to offering a pro-level trading experience. The application even allows the traders to use the QR code method to make online transactions and spend their digital currency in thousands of retail stores. The new update allows traders to earn interest on payments done via digital currency.
- Dozens of cryptocurrencies to trade
- Earn interest on payments
- QR Code technology for spending currencies for payment
- The fee structure is expensive
Investors looking for a reliable application to invest in ETFs, stocks, fractional shares, and cryptocurrencies must download the Robinhoodtrading application. The application allows investors without IRA account to trade and buy mutual funds and cryptocurrencies.
- Zero commission
- Cryptocurrency investments
- User-friendly mobile app
- Lacks an IRA account
How to Choose the Best App for Trading Crypto?
- Ownership or CFDs – You have to identify your short and long-term objectives before delving into the best app for trading crypto. If you plan to buy famous crypto coins and hold them for months and years for profit, you should work with crypto apps that accept regular payment methods. On the other hand, if you are interested in trading in crypto actively for frequent profits, you must choose the CFD trading apps. It offers the platform to trade crypto regularly without commission.
- Regulation – The second important thing to look for when choosing the Best Apps For Cryptocurrency Trading is regulation. If you are using CFD apps for trading, you are in safe hands because they are strictly regulated. Alternatively, the traditional crypto exchanges, including Binance, operate heavily unregulated. It is surprising to know when you trade for billions of dollars that go via its books daily. However, Binance and Coinbase are still worth considering as they follow industry-leading security measures.
- Supported Pairs and Financial Instruments – If you are trading using dollars, ensure to choose the exchange or apps that support fiat-to-crypto pairs. You may also look for applications that support crypto-cross pairs. These are the famous crypto pairs comprising dual digital assets. It may include ETH/BTC or XRP/ETH. If you are a beginner-level investor planning to take your trade to another level, you must look for crucial things like short-selling facilities, leverage, and margin trading.
To Sum Up
Hopefully, it is clear now which are the Best Apps For Cryptocurrency Trading in 2021. The cryptocurrency landscape is very challenging and intimating for beginners. So, the list would help them choose the right and best-suited application for secure, safe, and reliable cryptocurrency trading in 2021 and beyond. Please click here to learn what you must know before investing in cryptocurrency.
Do you trade in cryptocurrency? Which platform you use and why? Please share your opinion in the comments section below.
Moreover, if you want to know the best trading apps for Crypto, please click here to know about them