Nowadays, anyone can be an investment expert: you don’t even have to go to Wall Street – just having a mobile phone will be more than enough. You can make a living by trading, which means buying and selling valuable assets. It’s almost similar to betting on sports or esports on bookmaking websites like GG bet online. If you are good enough at this job, it is even possible to see extremely high ROI (return of investment) rates. Mobile apps that allow us to trade cryptocurrencies give everyone a chance to become an investor. To give you a quick start, we list the best applications for crypto trading below.
What Is Crypto Trading?
Let’s start by giving some basic information for beginners. Cryptocurrencies are exchanged on platforms called “exchanges.” After subscribing to these platforms, you can buy crypto with Fiat currencies or exchange your cryptos with others. Cryptocurrencies are also assets, and their prices are constantly changing. It is possible to generate income by exchanging them. For example, if you think that the value of crypto will increase, you can buy it (long), and if you think it will lose value, you can get rid of it (short). It is possible to generate income from cryptocurrencies using standard investment techniques, but we will not go into details as that is not the topic of this article. Let’s continue with the best mobile apps for crypto trading.
It’s no surprise that Binance is at the top of the list: Binance is now considered the world’s largest crypto trading exchange, with a daily trading volume of close to $18 billion. Binance has native apps for iOS and Android, which have all the features of its desktop app. Even exotic currencies like IOTA, GAS, and WTC are supported, so you can use Binance to trade whatever crypto you have. In addition, if you use the platform’s own currency, BNB, to pay transaction fees, you can save 50%. However, despite all these advantages, Binance is not an application that is easy to use and/or appeals to beginners. The interface is rather complicated, and you need to be familiar with how crypto exchanges work. In other words, it appeals to experienced users and places emphasis not on practical use but on a variety of functions. If you are a trader who knows what you’re doing, the Binance app will be the best option for you.
If you’re not quite sure what you’re doing yet, we recommend taking a look at Coinbase. It is probably the easiest crypto trading app to use, and it also gives you some crypto types for free. As soon as you sign up, a small amount of newly released and not yet popular cryptos are added to your account. Using them, you can see how the system works and start your crypto trading career quickly. (For example, at the time of this article, it was possible to get BOND, AMP, GRT, and XLM in amounts corresponding to 3 USD each.) Coinbase is an application that you can continue to use after gaining experience because it also supports many advanced functions. For example, you can create daily, weekly or monthly automatic buy/sell orders for a particular crypto. Coinbase also has insurance that protects each member up to $250,000.
Unlike other apps on this list, Voyager is developed for use on mobile platforms only, there is no separate desktop application like Binance. Therefore, its design is more suitable for touch controls, and it is quite easy to use. We can say that it offers an ideal user experience, as it is designed only for mobile users, instead of trying to transfer a service that is already on the desktop to mobile like other platforms. Voyager falls somewhere between Binance and Coinbase: it is more advanced than Coinbase but still not as complex as Binance. More than 60 cryptocurrencies are supported, and a referral system is used. So if you have a few friends, you can start using this app with a free balance of 25 USD. But the most interesting feature of Voyager is that it offers “interest.” You can earn up to 10% interest (APR) for about 20 cryptocurrencies. All you have to do is buy those currencies and keep them in your balance. As long as you do not fall below the minimum threshold, you can continue to earn interest.
Gemini is a fairly new exchange, but it has already gained remarkable success. First of all, let’s mention that it is the first exchange to successfully complete the SOC 1 Type 2 and SOC 2 Type 2 security reviews. In addition, it has won many awards and an ISO 27001 certification. But perhaps, the most interesting feature is that it has its own payment system called “Gemini Pay.” This system allows you to pay at more than 30,000 stores in the United States by simply scanning a QR code. You don’t need a card: the QR code is generated by the mobile app, and the payment is automatically deducted from your chosen crypto balance. The best part of this system is that it transforms Gemini from just an exchange into a modern way to pay with crypto. You can even buy coffee using your Bitcoin balance.