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Best Apps for Trading Crypto in 2022 – A Beginner's Opinion

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Steve Hodl
@mypathtofire
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2 min read

Being able to trade crypto on your smartphone is a necessity these days and what better way to get fast access to the >€1.82T Crypto market than through an App. Are you looking to buy and sell cryptocurrencies on you phone? If so, you will be pleased to know that there are plenty of choices in the market. But the flip side to that is, too much choice can make it difficult to know which is the best one.

Perhaps you are looking to trade certain pairs or you are more interested in lowest price fees. The choosing the right App can be very important. You will need to do some in-depth research before choosing your App.

My top suggestions first:

SPOT CRYPTO TRADING APPS

Exchange and Earn Interest

  • BlockFI
  • YouHodler

Tokenised Stocks

  • FTX
  • Bitpanda

Trading Bots

  • Cryptohopper
  • Coinrule
  • Tradesanta
  • Shrimpy
  • 3Commas
  • Haasonline

Gift Cards, Vouchers and Airtime

  • Bitrefill

Debit Cards

  • Wirex
  • Crypto.com
  • BlockFi Debit Card
  • SpectroCoin
  • Nuri

OK, lets get started. So in my opinion, when choosing a suitable platform, the important things to consider are: Ownership or CFDs, Regulation, Supported Pairs and Available Financial Instruments.

Ownership or CFDs?

Once you have decided your objective and timeframe, you will be able to short-list the options open to you. So if you want to Buy And Keep say the main cryptocurrencies like Bitcoin or Ethereum then you would just need a regular broker such as Coinbase. But if you want to actively trade cryptocurrencies, then you would need a platform with CFD because you wont have commissions and you only need to consider the spread.

Regulation

Regulation is a grey area in the crypto space. But if you are using a CFD provider, then they are usually heavily regulated. In the crypto space then you have the likes of Binance who are mostly unregulated.

Supported Pairs and Available Financial Instruments

Here you will need to check if the types of trading you wish to do is available. For example you may want to trade cryptocurrencies against the Euro. In this case you need to ensure your App supports fiat-to-crypto pairs.

You may want to trade crypto-cross pairs. These are digital asset pairs that may include BTC/XRP or ETH/XRP. For the advanced trader you will look for extra features like leverage, short-selling and margin trading options.

What do you look for in a crypto trading App? Let me know in the comments what Apps you would recommend and why.

Thanks for reading!

Posted Using LeoFinance Beta