Cryptocurrency is quickly gaining steam on a global scale and for good reason. It’s secure, easy to convert for international exchanges, and presents some unique investment opportunities.
However, it is still a budding technology, and that means that dozens of companies are sprouting up around it in an attempt to get ahead of the curve.
Options are a good thing, but when you have countless apps appearing out of nowhere, ranging in quality from amazing to downright pointless, it can be extremely difficult to find the perfect app to facilitate all your cryptocurrency exchanges in a way that suits your needs effectively.
To help you get started, we’re going to go over the top ten cryptocurrency apps for iOS and Android. The list is fairly varied. Whether you want to buy NFTs or trade crypto, there’s something for everyone.
Cryptocurrency apps aren’t overly complicated. You can think of them as banking apps, but instead of managing your bank accounts and debit cards, they manage your cryptocurrency portfolio.
Depending on the app you choose, you can track the price of your preferred cryptocurrency, trade, convert it into fiat, and even get the latest news about the crypto market.
It’s worth noting that if you’re new to cryptocurrency, a mobile app is easily the best way to get started. Desktop applications tend to be complicated and aimed more toward tech-savvy individuals.
Whereas, a mobile app typically allows you to log in and set up your account with ease; allowing you to focus on productivity and learning about the market without a hassle.
Different Types of Cryptocurrency Apps
As we mentioned, there are different types of apps for you to choose from, and you most likely want to use a combination of two or three apps to ensure you have full access to all the information and capabilities you need to successfully deal in cryptocurrency.
Exchanges are where most of the work is done when it comes to cryptocurrency. An exchange app allows you to buy and sell crypto coins.
There are a lot of different exchange apps available, and it might be necessary for you to download multiple exchange apps if you plan on varying your crypto portfolio.
However, we highly recommend starting off with a single type of currency to keep from being overwhelmed. Managing several exchange apps for multiple coin variants is a painstaking task that’s best left to experienced traders.
A wallet app is exactly what the name implies. It stores your cryptocurrency when you’re not actively exchanging it. This is necessary to prevent losing your coins by storing them in the exchange, and wallet apps are typically designed from the ground up to emphasize security over the long term.
While trackers and news apps are somewhat optional, we absolutely recommend having at least one exchange app and one wallet app that are compatible with your preferred currency.
If you’ve ever participated in the stock market or foreign exchange, you know how important a role the news plays in making worthwhile investments. The same goes for cryptocurrency, and news apps allow you to stay up-to-date with market fluctuations and general cryptocurrency news wherever you may be.
This isn’t absolutely necessary, but it will help you make more intelligent decisions when you start managing your portfolio.
It is worth noting that most news apps don’t cover every available coin. They typically focus on the industry’s most prominent cryptocurrencies, and you might occasionally see notable news regarding smaller, less used coins.
Trackers are essentially companion apps that allow you to quickly check real-time updates for price fluctuations. These are in no way necessary, and if your phone is low on storage space, it’s probably best to stick with the essentials. This is because every exchange has price information built in.
The issue is that quickly accessing your exchange app isn’t really an option. They’re typically highly secure, and it’s a bit of a hassle to continuously log in to your exchange app for a quick checkup. So, it’s still nice to have a tracker app if you want easy access to pricing information.
What Makes a Good Cryptocurrency App?
There are three main factors you need to consider when choosing a cryptocurrency app.
Cryptocurrency is just now hitting the mainstream, but it has been a go-to transaction method for criminals since its inception. This is because it’s almost impossible to trace transactions between users, and money can quickly circle the globe without a footprint.
Despite cryptocurrency being accepted more widely now, criminals do still use it. So, a high-level security system is necessary for any cryptocurrency app you use. If an app has a history of breaches, it’s best to stay away from that app to avoid getting scammed.
There are two main forms of security you really want in a cryptocurrency app: Two-factor authentication and back-end encryption.
Two-factor authentication means that you’ll have to not only have a password to log in and make transactions, but you’ll also need a pin or similar input, too. This slightly bogs down the user experience, but it adds an extra layer of protection that you won’t regret having.
Back-end encryption uses a difficult-to-crack keycode that prevents hackers from intercepting your data. This includes passwords, transaction logs, IP addresses, and more. Essentially, it creates a tunnel that masks your activity and places it under a virtual lock and key.
Cryptocurrency works very similarly to the stock market, but it is open 24 hours a day, 365 days a year. This means that fluctuations in price can happen at any time, and you need to keep up with those fluctuations to know when to buy or sell.
A good cryptocurrency app will provide you with accurate real-time data to ensure you have the information you need while managing your portfolio.
Availability in Your Area
Cryptocurrency isn’t legal everywhere. Certain governments have restricted its use, and some have flat-out banned it since it’s not easy to tax.
This means that, while you may be able to download a cryptocurrency app, you may not be able to use it if the coins it’s attached to are illegal. Double-check your laws and regulations before committing to an investment app.
eToro is a great app all-around, but beginners get a few helpful features that stand out. This includes $100,000 of practice currency, the ability to communicate with more experienced users to learn strategies, and more than 30 tools to help with productivity.
The list of compatible currencies is large and growing, and the security features are top-notch to ensure you’re safe. However, the account fee outside of the US and Australia is $200. Fortunately, US and Australian users can join for a reasonable $50.
Gemini keeps things simple and streamlines multiple key features into a single app. With it, you can buy, hold, track, and sell your coins without any hassle at all, and you can even set the app to alert you whenever the market price reaches a certain point. This allows you to act fast and avoid missing profits.
The security level of Gemini isn’t quite as great as eToro and other premium apps, but it is more than acceptable. You can also make your account entirely for free. So, trying it won’t set you back a dime. However, the app does take a 25% or less commission on your trades.
If you have no idea what you’re doing, Coinbase is perfect for you. It isn’t as feature-rich as other apps, but it has an education center, allows you to use fiat to purchase crypto, and only takes a 0.5% commission on trades.
The trading system is streamlined to help you get the hang of using an exchange, and the security features are on par with the best apps out there. On top of that, it’s completely free to use.
This is an iPhone exclusive app that caters to users with a bit of experience. Instead of focusing solely on Bitcoin and other major coins, Voyager allows you to branch out a bit and experiment with lesser-known coins.
It’s a little more complicated to navigate, but that’s due to its rich features. It comes with a wallet, an exchange, a plethora of real-time charts, high-security protection, and even a basic newsfeed.
In terms of cost, you can make an account for free, and Voyager doesn’t take commissions. You even get a $25 voucher for signing up.
BlockFi is a one-stop shop for cryptocurrency, and in many ways, it mirrors a banking app. It has a secure wallet, access to a Bitcoin and Litecoin exchange, transferring features such as money wiring, and a vast array of other bank-like features.
However, its most attractive feature is that it reports your earnings to the IRS. This means that you’re automatically covered when tax season comes around, and you don’t have to worry about having an unreported income that lands you in legal trouble.
The fees for BlockFi differ based on the coin you’re buying and selling, but you can wire money free of charge.
This versatile, low-fee app allows you to simultaneously buy, sell, and hold a variety of cryptocurrencies with ease, and the user interface is streamlined to provide the best user experience possible.
It even allows you to track the performance of each coin type you trade with to help you make better trading decisions.
With some of the best security around, a high versatility rating, and extremely low commission rates, this is a great platform for intermediate users who deal in multiple cryptocurrencies.
Delta is available for both iOS and Android, and it’s one of the most fleshed-out trackers available. It doesn’t offer any trading features or wallet, but it does allow you to track the prices of more than 7000 cryptocurrencies in real-time, and you can do so with the same account on two devices. So, you can have it on your phone and tablet simultaneously.
The real perk of Delta is that it allows you to connect your wallet and exchange apps to monitor your specific coins without wading through menus, and you can set up a variety of alerts to help you trade effectively.
The app is free, but it has in-app purchases you may or may not want to buy into.
Wirex is an exchange service that doesn’t stand out much besides one major feature. You can trade up to 18 different coins on Wirex, and its maximum fee is 1% on certain coins. So, it’s relatively low-cost, and it’s a good choice for anyone who doesn’t need a ton of exchange features. It also boasts high-end security.
The defining feature is the Wirex crypto card. After you make an account, you can claim your free card, and you can use your cryptocurrency anywhere you can use a Mastercard or Visa. You even get cash back rewards for your purchases, and you don’t have to worry about converting to fiat.
Binance is a highly-flexible platform that allows veterans to maximize their profits via low buy-in rates on new coins, discounts on Binance’s proprietary coin, and the lowest rates available outside of free exchanges.
It’s also compatible with all of the main coins you’re likely to trade with, and it’s adding new coins constantly to stay competitive.
However, this flexibility makes the UI a little difficult to navigate, and truly taking advantage of the low buy-in rates requires a veteran’s experience.
Finally, you’ll be happy to know that the customer service team is easily the best out of the bunch, they’ve proven their trustworthiness by not only stopping a hacking attempt but also donating all the hackers’ funds to charity. That’s a team you can trust to protect you.
The platform is based in the EU, though. So, you’ll have to manage your own tax liabilities like on most other platforms, and due to its high profitability, that may be difficult for beginners.
All of the apps we listed are at the top of their class and entirely safe to use in countries that allow cryptocurrency. To find the best one for you, read our overviews, narrow your selection down, and visit the app store for in-depth feature lists and user reviews.
Cryptocurrency is highly profitable, and there’s no better time to get started with investing than today.