Crypto Exchange Apps
by Julia Beyers
Cryptocurrency is a relatively new concept in the world of finance, but despite this, many modern traders buy and sell crypto every day using websites and mobile apps. Large exchanges allow traders to earn substantial amounts of both crypto and fiat money but there is also a chance to lose much due to extremely high volatility. That's the biggest difference of crypto trading from the regular one. You should always keep an eye on rates and price changes.
And the best way to be informed is to use mobile apps as they are easily accessible and convenient. They allow traders to close deals almost anywhere and anytime through smartphones. Let's review the best available cryptocurrency exchange apps now!
5 best apps for iOS and Android
Here we will cover only apps with which you can trade cryptocurrencies. Most of them offer extra features like tracking rates, notifying about changes and news from the world of crypto. But the main purpose is always the same, it's trading. All of these apps are available both in Apple Store for iOS and Google Play for Android. They have been listed alphabetically.
This exchange with its own cryptocurrency held ICO only in 2017 but now it's one of the fastest growing services.
Why you should choose Binance:
- It has a pretty powerful engine with 1,4 million orders carried out per second. That's really fast.
- It has the native currency called BNB with which traders save 50% on every fee.
- It lists up to 100 different coins including BTC, ETH, NEO, WTC, XRP, IOTA.
- It supports 11 languages including English, French, German, Spanish, and Russian.
- It has a fully functional desktop version and website.
However, Binance is based in China which is famous for its strict crypto laws. China's government banned a lot of apps related to trading and mining. That's why we don't sure how these regulations will affect Binance. This exchange is pretty new, so only time will tell.
Currently, Bitfinex is one of the biggest exchanges when it comes to a number of registered users. It's based in Hong Kong, so China's laws are limited here.
Why you should choose Bitfinex:
- It allows peer-to-peer transactions with borrowing and lending money to traders.
- It has quick liquidation and huge reserves - almost any amount of coins can be traded.
- It offers more than 50 coins but only BTC, LTC, and ETH are the most popular.
- Apps are wonderful as they offer real-time data, notifications, and 24/7 support.
The only con is that Bitfinex doesn't allow US residents to register officially. Periodical problems with USD trading and exchanging also may be related to this fact. Besides, Bitfinex was hacked in 2016 which means this exchange had poor protection. Now it is claimed that the security measures have been improved.
Probably, it's the best exchange for beginners. CEX.IO has a simple interface with various options both for newcomers and experienced traders. The exchange is based in London.
Why you should choose CEX.IO:
- It has pretty high security with easy UI.
- It allows linking debit and credit cards.
- It offers different types of orders such as market and limit orders as well as the margin trading option.
- Apps track market data in real time and provide a comparison with other exchanges.
However, exchange offers a limited number of coins: BTC, ETH, BCH, BTG, DASH, XRP, XLM, and ZEC. CEX.IO also charges up to 7% when the user applies FOK orders to buy or sell coins. Though, if undertaking a full review of CEX.IO, it becomes evident that the charged fees vary with the service you choose (the trading service fees range from 0%-0.25%). This platform may be wonderful to start with but pay attention to commissions.
This trusted website provides not only exchange options but also analytics and news related to cryptocurrencies and markets.
Why you should choose Coinbase:
- It allows paying from bank accounts, and bank cards.
- It features high security with an option of remote password protection.
- It has relatively low fees starting from 1%.
- It attracts 11 million active users from 32 countries.
There are a few controversies with Coinbase. Users complain that the service tracks how they use BTC. Administration can block or freeze accounts for different reasons which users can't check. Finally, this site has only 4 available coins: BTC, BCH, ETH, and LTC.
It is a San-Francisco-based exchange with Forex-like trading features. What's interesting, this US company serves the largest part of BTC/EUR deals.
Why you should choose Kraken:
- Liquidity in EUR and JPY is pretty high.
- It offers both basic and advanced orders including margin and short-term deals.
- Experts claim that it's one of the safest exchanges.
- The fees here depend on your trading activity and can range from 0% to 0.26%.
- Apps have a built-in calculator and detailed charts.
Kraken may be too complex for beginners, so it's better to start with another exchange. The worst thing about this one is that its web-version has low performance, especially at peak times. Customers claim that the support is slow, and it may take weeks to review the tickets. Finally, Kraken doesn't have its native Android app yet - it is at the stage of development. Though, you can download the non-official one.
Mobile trading tips
When you use apps related to money and crypto you should be careful enough to protect funds. As a conclusion, we want to provide some valuable tips on using trading apps:
- Know your country. Some apps may not work in countries with a strict policy like China. Check laws to be sure that you can use apps and trade cryptocurrencies.
- Read reviews. All apps have a lot of reviews in the App Store and Google Play Store. Explore them to find out what other users think about the certain app.
- Remember about security. It's crucial to protect your sensitive data like passwords and card numbers. Try to provide only required info and be ready to disable accounts.
- Use trackers. Trading apps are wonderful but some of them don't feature price alerts and live-time changes. Install at least one tracker app to be informed.
Mobile apps are convenient, that's true. Try different options to keep a check on the markets all the time.