Cryptocurrencies have gone from obscurity to one of the largest and most active asset classes in the world over the past decade. There are now over 18,000 cryptocurrencies with a market capitalization of over $3 trillion. In this article, we will highlight the best cryptocurrency apps for beginners in 2022.
eToro
eToro is a leading fintech company important At over $8.8 billion. Started in Israel in 2007, the company has grown rapidly and now has millions of customers from all over the world. The firm was initially started to offer copy-trading services in the forex industry. Over the years, it has expanded its services to other solutions.
eToro is a good cryptocurrency app for several reasons. Firstly, it offers many assets to its traders and investors. In addition to cryptocurrencies, the company lets you buy and sell assets such as stocks, currencies, commodities and exchange-traded funds.
Therefore, you can make money in cryptocurrencies when the stock market is closed. Similarly, when cryptocurrencies are going through challenges, you can make money in assets like stocks and commodities.
Second, eToro was a pioneer of copy-trading. This means you can copy trades and crypto portfolios from experienced professionals. Therefore, if you are a beginner, you will be able to earn money in cryptocurrencies only by copying other people. Similarly, if you are an experienced trader, you will be able to diversify your income by imitating other traders.
Third, eToro has several payment options that allow you to deposit and withdraw your funds. Some of these options are credit and debit cards, PayPal, Skrill, Neteller, Rapid Transfer, Klarna, Bank Transfer and Poli. Hence, you can select the option which suits you.
Most importantly, eToro has excellent ratings and reviews from its users. Its Android app has 4.5* while the iOS app has 4.6*. This means that its users are liking it.
Binance
Binance Has emerged as one of the fastest growing companies in the world. The firm was founded in 2017 and has grown to a valuation of over $300 billion. It has approximately 100 million customers and handles over $70 billion in funds per day. Notably, Binance has achieved this milestone without HQ.
Binance operates multiple platforms. It has cryptocurrency apps that are available in the Android and iOS ecosystems. In addition, it has a web application that can be accessed in all browsers like Chrome and Microsoft Edge.
There are many reasons why Binance is a good cryptocurrency app. Firstly, it offers thousands of assets that you can trade. Unlike Coinbase, it takes less time for Binance to list a new cryptocurrency. For example, it was the first exchange to list AppCoin and Shiba Inu after its launch.
Second, Binance offers a variety of ways to buy and trade digital coins. You can buy cryptocurrencies directly or use its peer-to-peer feature. Most people use the arbitrage strategy to buy a coin cheaply and then sell it in the market at a higher price.
Third, using BNB tokens to trade digital currencies may result in discounts. BNB is the native currency created by Binance.
In addition, its applications have received excellent reviews from users and its transaction costs are slightly lower than other coins.
CoinMarketCap
CoinMarketCap is another popular cryptocurrency app that comes highly recommended for beginners. Unlike eToro and Binance, the application does not allow you to buy and sell cryptocurrencies. However, you can use it to make better decisions when trading digital assets. Notably, the application is owned by Binance.
The main feature of CoinMarketCap is the ability for you to identify the prices and market capitalization of all cryptocurrencies. The application has other features. For example, you can create a virtual portfolio of the cryptocurrencies you follow.
In addition, you can see the coins that are in circulation and those that have been added to its platform. For example, if you see Apcoin jumping up, you can go to your exchange and execute your trade.
In addition, CoinMarketCap has a news feature that consolidates news and analysis from multiple sources. You can use this information to promote your business. Therefore, CoinMarketCap is a very useful app for cryptocurrency beginners.
coinbase
coinbase It is the second largest company in the blockchain industry with a market cap of over $38 billion. It is a publicly traded company with over 89 million customers from around the world. Like Binance, Coinbase allows its users to buy and sell cryptocurrencies through its web and mobile applications.
To use Coinbase, all you need to do is create an account with your name and email address. After verifying your name, you can easily deposit money and then start investing or trading digital assets. Some of the most common deposit options are debit and credit cards, bank transfers, paypaland Apple Pay among others.
There are many reasons why Coinbase is a good app for beginners. For example, it is a safe option, has multiple deposit options, and has minimal fees.
nexo
Nexo is another useful cryptocurrency app for beginners. The company offers a number of cryptocurrency-related services. Its key feature is the one that lets people deposit their cryptocurrencies and then borrow money. The idea is that if cryptocurrency prices go up then the value of your coins will continue to increase.
Nexo also offers a yield feature that allows you to earn returns by simply depositing your cryptocurrency. Most importantly, it has introduced a feature that allows users to buy and sell digital coins. Users can get discounts when they hold NEXO tokens.
summary
There is a growing number of apps in the cryptocurrency industry. In this article, we have focused on just five applications that we think are ideal for beginners. Other popular ones are Kraken, Huobi and CoinGecko.