The cryptocurrency buzz has been impossible to ignore, especially with the frenzy around Bitcoin and all the cool kids investing in various virtual currencies. But how exactly do you know which cryptocurrencies you should invest in?
How do you keep track of the market fluctuations? And most importantly comes the $64,000 question – where should you store your valuable cryptocurrency?
It goes without saying that it’s easier to trade cryptocurrencies via mobile as it gives the freedom to trade cryptocurrencies on the go.
So here’s our tried and tested list of best cryptocurrency mobile apps for investing in cryptocurrencies and blockchain assets:
Coinbase is often recommended to newcomers who want to get familiar with cryptocurrencies. Available to users in over 32 countries, Coinbase is the world’s largest Bitcoin Exchange.
Using Coinbase, customers can buy Bitcoin with a connected bank account, Interac Online, SEPA transfer, credit/debit card, and other numerous payment methods.
- High liquidity
- Easy to use
- Instant buy feature available with the credit card as a backup
- Top crypto assets: BTC, ETH, LTH, BCH
- Insured bitcoin deposits available
- Limited payment methods
- It may track how its users spend Bitcoin
- Poor feedback on customer service
Gemini Exchange was founded in 2015 by the Winklevoss twins (they rose to fame in 2004 after they sued Mark Zuckerberg over Facebook, accusing him of stealing their idea of a popular social network platform). Since then the Winklevoss brothers have come a long way and are known as prominent bitcoin investors.
Furthermore, it is the only US exchange that allows crypto-to-crypto and dollar-to-dollar trading. It also enables users to deposit fiat currency to trade Bitcoin and Ethereum across a range of different orders.
The Gemini App is part of the company’s long list of customer request since its inception. Before 2018, mobile users have relied on Gemini’s mobile website to access buying and selling crypto.
Customers have reportedly found the app to be fast and highly intuitive in its design. They can now easily fund their Gemini trading accounts from the convenience of their mobile phone.
- Two-factor authentication (2FA) using Authy
- Feature – set recurring buy orders.
- Feature – “Buy the Cryptoverse” which lets you buy 5 available crypto instantly.
- It enjoys strong backing and a good reputation
- Simple and user-friendly interface for traders of all levels
- Discounts and paybacks for high-volume traders
- Great customer support
- Requires a ton of information to register to the platform
- Limited selection of funding methods
- Limited selection of coins available to buy
Poloniex is one of the world’s leading digital currency exchanges. While the platform is based in the United States, its services are offered across the globe.
The platform not only allows you to exchange cryptocurrency but also approves to trade on margin – this feature is rarely extended in the cryptocurrency market. It offers traders with features such as crypto market analysis, trade execution, etc.
From a financial security aspect, Poloniex does not function on fractional reserves. That means your funds are your funds – any funds you deposit into the exchange are used to facilitate trading only through your account. However, Poloniex’s structure is more suitable for experienced cryptocurrency traders than a complete fresher.
- Huge range of altcoins to trade
- Margin trading
- High liquidity
- Stop-limit orders to protect investors from risk
- Slow website
- Poor customer service
- Does not support fiat currencies
- Negative reviews regarding withdrawals and customer support
Robinhood is an online broker and been quite popular among young do-it-yourself investors. Its huge popularity can be credited to its non-traditional approach to banking.
Robinhood offers $0 trades, meaning it charges no commission for trading stocks, options, ETFs or cryptocurrency. However, there’s always a tradeoff to anything that’s free and Robinhood is also not immune to it.
Robinhood lacks a full-service online trading platform – although it provides core basics. For all that, its total offerings of investments are not impressive.
- Best for casual first-time investors
- Commission-free US stock trading
- No minimum account balance
- Lacks research reports
- Limited trading options
- Few features require premium paid upgrade
Far from new (it was launched in 2013) Square Cash App is an intuitive mobile payment app found by tech entrepreneur Jack Dorsey.
It is a mobile payment giant and is primarily used to send money to friends, family, employees payments, etc. quickly and easily.
In January of this year, Cash App expanded its capabilities for Bitcoin-trading on its app to all the states in the United States (except New York, Hawaii, Wyoming, and Georgia, due to the restrictions placing limits on cryptocurrency transactions).
Since then, according to comments from Square’s Chief Financial Officer, Sarah Friar, Square has experienced strong growth in Bitcoin users driven by its Cash App.
Read more about our review & step-by-step guides:
- No Square Cash fees for personal money transfers (except credit card transactions)
- Multiple methods of sending and receiving funds
- It uses a Cashtag for convenience, hence no need to enter an email address
- Great customer service
- You can’t use it outside the US
- It charges a fee for credit card users
- You can’t mix your accounts with Personal and Business transactions
Don’t store your bitcoins on Mobile Wallets!!!
Just Bought bitcoins on an app? Don’t leave them all there! Leaving bitcoins in hot wallets or exchanges are risky:
There are only two types of exchanges, the ones that have been hacked and the ones that WILL BE HACKED.
The list assembled of these cryptocurrency mobile trading apps is based on their popularity, diversity, and ease of use for the traders.
Of course, as the cryptocurrency market matures many new and better app players will enter the game.
Till then hope you will explore these apps and boost your cryptocurrency portfolio. Trade wisely!