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After the extreme success of Bitcoin and then Dogecoin, it’s no wonder more and more people are entering the crypto investing world.
Even people who don’t even fully understand it (which I really don’t recommend).
But I digress, since crypto is becoming so popular, more and more apps are popping up to support the trade of cryptocurrencies.
Now, I won’t lie to you. I know nothing about crypto and I’m not going to pretend to ’cause I don’t want you suing me for telling you to invest in SHIBA INU, not knowing whether it’s really going to go up or down.
But, I will give you advice on which apps to use to invest in (and learn more about) cryptocurrency.
So, here are a few apps to consider if you’re thinking about investing in cryptocurrency.
Top 10 Crypto Platforms
Coinbase is probably one of the most popular apps used to buy, sell, and trade crypto.
It’s got a Nerd Wallet rating of 5.0 stars and the fees are pretty low compared to its competitors.
On Coinbase, there’s a $2 account minimum and fees range from 0.5% to 4.5%.
It’s a great way to collect small amounts of crypto for your portfolio. You can add more money to them after you’ve seen how well they perform from holding just a couple dollars’ worth. I mean, it’s not a whole lot of money, but it’s more than you had before, right?
Gemini is another solid contender in the conversation about crypto trading platforms. While there’s no account minimum, there are fees ranging from 0.5% to 3.99%, which is lower than Coinbase’s range.
But more than that, Gemini is easy to use (great for beginners). But the fee structure may confuse some people.
The platform boasts more than 50 cryptocurrencies.
And what’s even better is that the site has insurance to protect against hacks (which was a big issue with Binance recently).
SoFi is a great platform for anyone who’s always actively trading.
The downfall of this platform is that there’s no crypto-to-crypto trading. Also, you can’t deposit or withdraw crypto to a personal crypto wallet.
However, there’s a low fee structure and over 20 cryptocurrencies to trade. If you already have a brokerage account, this is an easy way to utilize the platform since your accounts can easily be connected.
I’ve used Webull to buy stocks before and the platform isn’t bad at all. In fact, it’s pretty easy to navigate, but I just like other platforms better.
Webull doesn’t charge any fees for crypto trades beyond a 1% spread for each trade, but it doesn’t have as many cryptocurrencies to offer as other platforms.
You also can’t trade crypto-to-crypto on this platform and you can’t deposit or withdraw crypto to a personal crypto wallet.
Robinhood isn’t in our best graces these days, but that doesn’t mean you can’t still leverage it to buy or sell cryptocurrency. It’s one of the easiest platforms to use (in my opinion) and you can get started without waiting for your money to clear (which is a big thing for me).
I don’t want to have to wait several days to make a trade that might not even be worth it in a few days and I’m sure you don’t either.
What makes Robinhood great is that there’s no account minimum and no trading fees.
But I know we’re all wondering if it’s going to freeze up during a big, important transaction (like it has for some people I know).
Robinhood doesn’t have that many cryptocurrencies to trade on the platform, but if you’re looking to trade the big ones throughout the day just to make some quick money, Robinhood is a good option.
What I like about eToro is the fact that it has CopyTrader, which allows you to mimic the moves of other crypto investors. All you have to do is choose an investor you want to copy, set an amount, and then click COPY. That way when they trade, you’ll be trading automatically.
Easy way to make a lot of money (or lose it). Be careful who you copy and how much you’re using to copy them with.
Never trade with more money than you’re comfortable losing.
eToro has over 20 million users worldwide and you can engage with them by asking questions, posting updates, and more.
Capital.com offers a one-click trading experience and has over 4,000 world-renowned markets, according to their website.
With Capital.com, you’ll pay zero commissions, get fast order execution, high privacy and security standards, and all the latest economic and market news.
It also has an educational app, online courses, and trading guides.
Looking for a crypto platform great for tight spreads?
Libertex is where it is.
Libertex allows you to buy and sell stocks instantly without commissions. The platform has Bitcoin and a wide range of altcoins, including Ethereum, Litecoin, XRP, IOTA, NEO, and OmiseGO.
It has over 250 tradable assets.
The company has been operating since 1997 and it’s one of the international leaders of the industry.
Kraken allows you to buy Bitcoin and other cryptos in minutes. The platform has over 50 cryptocurrencies to trade and you can get started with as little as $10.
When you first arrive on the website, you’ll be asked about your level of familiarity with crypto. Click an option and it takes you to a relevant page that explains in a bit more detail what you can expect to experience trading crypto on the platform.
Kraken shows they care about security and support by providing 24/7 global support and displaying the highest standards of legal compliance.
Luno makes it extremely easy to buy and sell crypto by offering an app you can get on the App Store or Google Play store.
Over 8 million people already use the app, likely because of its user-friendly platform that makes it easy for beginners.
As of this writing (and according to their site), over $21 billion has been processed through the platform. So you can already see what kind of money people are making (or losing).
Just sign up, make a quick deposit, and you’ll be buying crypto in no time.
The only downfall of this platform is that you can only trade Bitcoin or Ethereum (or so it appears – correct me if I’m wrong).
KuCoin is what I first used to purchase crypto. I bought my first couple million shares of SHIBA INU because I was pretty convinced it was going to go up.
And Coinbase wasn’t available in New York at the time, so I had to use KuCoin to exchange the Stellar Lumens coins I bought on Coinbase for cash. I then used the cash to buy SHIBA on Kucoin.
Luckily, you don’t have to go through that if you live in the state of New York (and I only had to do it once before Coinbase was finally available in New York).
What are you using to trade cryptocurrency? Let me know in the comments.
And feel free to share if you found this post helpful in any way.