For novice investors and cryptocurrency experts alike, there are a handful of apps that can enhance your crypto experience and even add crypto to your portfolio for free. From lending platforms to exchanges and portfolio managers, there are a plenty of applications that every trader should have on their home screen.
Get started with our review of the best cryptocurrency apps and find out what you’re missing. GET STARTEDInvest in crypto. Get a $250 bonus.Get access to over a dozen of the most popular cryptocurrencies, all on an easy-to-use platform. Engage with other traders, dive into the data, and learn how to diversify with crypto. Sign up now and get a bonus $250 when you make a $5,000 trade.*DisclosureeToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.
Best Cryptocurrency Apps:
- Best Exchange for Global Users: eToro
- Best Exchange for Trading: Gemini
- Best Exchange for Beginners: Coinbase
- Best Exchange for Mobile Use: Voyager
- Best for All-in-One Software: BlockFi
- Best Crypto Profit Tracker: Delta
Types of Crypto Applications
There are a handful of tools that can simplify the life of a crypto trader or investor. The major categories that we’ll cover in this guide are exchanges, wallets and portfolio trackers. If you’re completely new to cryptocurrency, the video below will help you get ready for the rest of the article.https://www.youtube.com/embed/Q96RDVSonjg?enablejsapi=1&autoplay=0&cc_load_policy=0&iv_load_policy=1&loop=0&modestbranding=1&fs=1&playsinline=0&controls=1&color=red&cc_lang_pref=en&rel=0&autohide=2&theme=dark&
Cryptocurrency Exchanges
By far the most popular type of cryptocurrency application, exchanges allow you to buy and sell cryptocurrencies using USD, BTC, ETH and many other currencies. You can connect your bank account through ACH, or use a credit or debit card to buy crypto on most exchanges. Here are a list of the best cryptocurrency exchanges that are available to all US customers.
Note that as a US resident, you’ll have to comply with SEC know-your-customer (KYC) guidelines which will require identity verification before you can start trading. This if for tax tracking purposes.
Cryptocurrency Wallets
A crypto wallet stores the private key needed to unlock funds from your wallet address on the blockchain. Most expert traders don’t recommend holding your coins in an exchange if you don’t plan on using them for day trading. Best practice would be using a hardware wallet like the Ledger Nano X or the Trezor T for long term positions. If you do plan on trading crypto, then a hot wallet like Coinbase Wallet or MetaMask may be a better option.
To check the balance of your funds stored on the hardware wallet, a crypto portfolio tracker can satisfy cravings to check your crypto, but we’ll get to that later. For now, you’ll want to set yourself up with a wallet that lets you control your private keys, unlike an exchange. Funds kept in an exchange wallet are more vulnerable to hacks, and the exchanges often do not provide you with your own private key – meaning the funds are not truly yours in the case of an emergency.
PricingStarts at $59Account MinimumN/ABUY NOWsecurely through Ledger Hardware Wallet’s websiteMore Details
Portfolio Trackers
A cryptocurrency tracker is a type of app that shows your real-time information on cryptocurrency prices. Any exchange will feature this information but having an individual tracker app can also be beneficial. This especially the case if you don’t hold your funds on an exchange, as you won’t be able to see your crypto holdings if this is the case.
For example, if you prefer to store your crypto in a hardware wallet but you still want to keep up with price movements throughout the day, choosing a simple tracker app is less complicated than signing up for an exchange.
Lending Platforms
Crypto lending often seems too good to be true. With annual yields in the 5-10% range on popular cryptocurrencies and stablecoins, you’ll probably be asking: “what’s the catch”? But, when you consider the costs associated with operating centralized banks, higher returns on decentralized crypto lending make sense. This wasn’t possible without the blockchain, but thanks to smart contracts, loans can be automated with no credit checks required. This is down by backing loans with cryptocurrency collateral, and this could be a way for you to keep your underlying crypto assets and get some quick cash, or lend your crypto and earn a high yield payed in your favorite token.
Of the lending platforms on the market, BlockFi is among the easiest to use. Simply deposit your crypto into a BlockFi savings account to start earning interest on your crypto. Plus, there aren’t any minimum lockup times, so you can remove your funds at any time.GET STARTEDPut Your Crypto to WorkEarn up to 8.6% APY with a BlockFi Interest Account. Get up to a $250 crypto bonus with a deposit of $25 or more in crypto.
What to Look for in a Cryptocurrency App
No matter which type of cryptocurrency app you need, there are a few things you should look for when you compare all of your options.
High-Level Security
Bitcoin and other cryptocurrency transactions are difficult to trace. Once you initiate a transaction between wallets, it’s virtually impossible to cancel or get your money back. Due to the decentralized nature of the blockchain, it’s also very hard to tell who owns which wallet. Some companies are dedicated to connecting investors’ identities to crypto wallets, such as Chainalysis.
An unauthorized transaction from your exchange could have gone down the street or all the way to Australia — there’s no way to tell exactly who’s responsible. This makes cryptocurrency the perfect market for criminals, hackers and scammers. Before you download any exchange or wallet app, review the company’s safety features. Look for 2-factor authentication and back-end encryption to keep your coins as safe as possible.
Real-Time Data
Cryptocurrency markets are always moving. It’s possible to go to sleep and see a single coin skyrocket by 25% — or lose half of its value. Keeping your finger on the pulse of the cryptocurrency market means up-to-date, minute-by-minute information because crypto data becomes obsolete much faster than information on stocks or fiat currencies.
Whether you want a comprehensive cryptocurrency trading platform or a simple tracker that lets you know how your favorite coins are doing, look for real-time data and information. This ensures that you’re not using outdated information to inform your trading and investing decisions.
Get Started in Crypto
It’s never been easier to get started investing in cryptocurrency. Cryptocurrencies are the new frontier of finance, but it’s important to remember that the realm of cryptocurrency is also very volatile. Many cryptocurrencies are decentralized by nature, giving them a shot at becoming a true “people’s currency”.
Remember to only invest what you’re prepared to lose and diversify your portfolio if you’re planning to buy and sell cryptocurrency. Want to learn more about crypto trading?Check out Benzinga’s guides to the best crypto exchanges, the best bitcoin wallets and how to file cryptocurrency taxes.INVEST IN CRYPTO. GET A $250 BONUS.GET STARTEDGet access to over a dozen of the most popular cryptocurrencies, all on an easy-to-use platform. Engage with other traders, dive into the data, and learn how to diversify with crypto. Sign up now and get a bonus $250 when you make a $5,000 trade.*DisclosureeToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.
Methodology
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
Try Gemini
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini Crypto Platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with Gemini now.