Cryptocurrency investing has skyrocketed in popularity over the last few years. In 2021 alone, over $15 billion flowed into crypto from institutional investors according to Coinbase. With interest at an all-time high, hundreds of crypto investing apps have flooded the market, making it overwhelming for beginners to navigate.
To help you find the right platform, I‘ve compiled this definitive guide to the top 5 cryptocurrency apps based on security, fees, coins supported and more. As a cryptocurrency expert, I‘ve extensively tested and reviewed all of these apps, so you can trust my recommendations. Read on to discover which app best suits your crypto investing needs!
Contents
Cryptocurrency Investing 101
Before jumping into the top apps, let‘s briefly go over some cryptocurrency basics for beginners.
What is cryptocurrency?
Cryptocurrencies like Bitcoin and Ethereum are digital assets secured by cryptography. They operate on decentralized networks – instead of governments or banks controlling them, no single entity controls cryptocurrencies.
Why should you invest in crypto?
There are a few key reasons investors are purchasing cryptocurrencies:
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Growth potential – Cryptocurrency is still in its infancy and has room for massive growth. For example, Bitcoin has jumped over 60,000% in value since 2011.
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Portfolio diversification – Crypto assets have a low correlation to other asset classes like stocks and bonds. Adding crypto can help diversify a portfolio.
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Inflation hedge – The fixed supply schedule of many cryptocurrencies makes them resistant to inflation compared to fiat currencies.
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Technological innovation – The blockchain technology behind cryptocurrencies is cutting edge with applications across industries.
How do you invest in cryptocurrency?
The easiest way to gain crypto exposure is by using a cryptocurrency app. Top crypto apps allow you to securely buy, sell, trade, earn interest and more – all from the convenience of your smartphone:
Now let‘s dive into my top picks for best cryptocurrency apps in 2023!
1. Coinbase – Best for Beginners
Coinbase is widely considered the best crypto investing platform for beginners thanks to its user-friendly interface. The app makes it simple and secure for first-time investors to buy, sell, and manage cryptocurrencies.
Coins Supported: 100+ including Bitcoin, Ethereum, Dogecoin, Solana and more
Fees: Between .50% – 3.99% per transaction depending on payment type
Key Features:
- Beginner friendly mobile app and website
- Educational guides and videos tailored to newbies
- FDIC insurance protects USD balances up to $250k
- Secure storage for majority of funds held offline
- Earn up to 5% APY by lending eligible crypto
Coinbase is designed to facilitate easy onboarding into crypto investing. Features like Coinbase Earn allow you to get free crypto while learning about new assets. Advanced charting and trading options are limited, so seasoned investors may want more functionality. But for crypto novices, Coinbase has everything you need to safely buy, sell, and grow your portfolio.
[Sign up for Coinbase today!](https://www.coinbase.com/join/O bypass referral)
2. Binance – Best Altcoin Variety
With over 500 altcoins available to trade, Binance gives investors huge diversification options. If you‘re looking to buy small cap gems and emerging projects, Binance has the most extensive selection.
Coins Supported: 500+ including Bitcoin, Ethereum, Polkadot, Solana, Cardano and more
Fees:
- 0.1% spot trading fee
- 0.5% instant Buy/Sell fee for card purchases
- Low withdrawal fees
Key Features:
- High liquidity and trading volume for alts
- Fast transaction speeds and seamless app
- Margin and futures trading options
- Staking returns up to 20% APY
- Tight security with Address Whitelisting and 2FA
Binance isn‘t as beginner friendly as Coinbase but takes just minutes to get the hang of. With industry-low trading fees and access to up and coming coins, Binance is the go-to for investors who want a diverse crypto portfolio.
Open your Binance account today!
3. Crypto.com – Best Rewards
Crypto.com goes beyond trading by offering up to 14.5% interest rates and some of the most generous card rewards programs available.
Coins Supported: 250+ including all major cryptocurrencies
Fees:
- Credit/Debit Card buys are charged a 3.5% fee
- 0.4% maker/taker fee for crypto trades under $10k
Key Features:
- Up to 14.5% interest paid weekly in Crypto Earn account
- Crypto.com Visa card gives up to 8% back on spending; 100% rebate for Netflix, Spotify, Prime
- Referral bonuses up to $2,500 for new signups
- Clean mobile app with advanced trading options
- Secured by $750M insurance policy on crypto assets
In addition to attractive rewards, Crypto.com offers a slick app, competitive rates for trades, and solid security – making it a compelling all-around option.
Unlock generous rewards with Crypto.com!
4. BlockFi – Best for Earning Interest
BlockFi stands out for offering some of the highest interest rates on crypto savings accounts:
Coins Supported: BTC, ETH, LTC, LINK, PAXG, USDT, USDC, GUSD, BUSD
Fees: No fees for depositing or trading crypto. Standard withdrawal fees apply.
Key Features:
- Up to 8.25% APY interest on crypto holdings
- Interest paid monthly in-kind or in stablecoin
- Borrow USD against your crypto at 8% interest
- No hidden fees or minimum balances
- Strong security measures including 2FA, whitelisting, data encryption
If you want to grow your Bitcoin or stablecoin holdings simply by saving them, BlockFi offers a simple way to earn sizable passive income. The ability to also borrow against your crypto provides liquidity options.
Open a BlockFi Interest Account today!
5. Exodus – Best Desktop Wallet
Exodus provides an easy-to-use crypto wallet desktop and mobile app. Though not a full exchange, it does allow users to store, send, receive, and exchange cryptocurrencies.
Coins Supported: 150+ including Bitcoin, Ethereum, Litecoin, Dash, etc.
Fees: Network transaction fees only. No fees for holding crypto in Exodus wallet.
Key Features:
- Beautiful and intuitive portfolio dashboard
- Built-in exchange between crypto, stablecoins, stocks, ETFs
- Secure private key storage and backup options
- Growing selection of supported assets
- 24/7 live customer support
For investors who want to manage their own private keys instead of relying on a third party, Exodus is a robust solution offering convenience without sacrificing security.
Download the Exodus wallet for free!
How to Choose the Right Crypto App for You
With an increasing array of options, it can be challenging to determine which platform best aligns with your crypto investing style and needs.
Here are some key factors to consider when deciding:
Types of Coins Supported
If you want to buy mainstream cryptocurrencies like Bitcoin and Ethereum, most apps will have sufficient options. But for small cap altcoins, an exchange like Binance provides the most extensive catalog.
Security Protections
As crypto assets are a ripe target for hackers, ensure your app has robust measures like 2-factor authentication, offline storage for assets, encryption, and insurance policies to protect customer funds.
Fees
Apps generate revenue from transaction fees and spreads on buy/sell prices. Compare fee structures closely – reduced fees can save you money over time.
Earning Opportunities
Some apps provide options to earn interest on holdings (up to 14.5% APY), receive staking rewards on supported coins, or get cashback on spending. Consider which earning features appeal most to you.
Functionality
Assess if you just want basic buying/selling/holding of crypto or more advanced functionality like margin trading. Certain apps cater better to simple investments vs active trading.
Ease of Use
If new to crypto investing, prioritize an intuitive app that simplifies the process of buying, managing and securing cryptocurrencies as a beginner.
Availability
Double check that full services are supported in your country. Certain apps restrict access depending on location.
By weighing your priorities as an investor against app offerings, you can make the smartest choice. And of course, don‘t hesitate to download a few different apps to give them a test drive!
Start Investing in Crypto Seamlessly
Cryptocurrency investing apps remove the friction from entering the crypto market. With an app that fits your needs, you can easily and securely buy into cutting-edge digital assets.
I hope this guide has shed light on the best cryptocurrency apps available in 2023 based on security, functionality and more. My top overall choice is Coinbase for its unmatched simplicity and educational resources for beginners. But each app excels in certain areas depending on your preferences as an investor.
Whichever platform you ultimately choose, now is a prime time to capitalize on the tremendous growth potential of the cryptocurrency space. Just download one of these excellent apps, fund your account and make your first crypto purchase. Here‘s to growing your portfolio in 2023 and beyond!
