10 Best Bitcoin Trading Apps in 2023
Several Bitcoin trading exchanges and brokers have noticed that a substantial number of smartphone users–especially the young demographic have a strong interest in Bitcoin trading. As such, they created mobile crypto apps to tap into this market. Trading apps offer convenience because users can follow their favourite cryptocurrency trading pairs on the go.
Bitcoin trading apps are still a niche product, and they are yet to break into the mainstream. For this reason, we crawled through the two leading smartphone app stores and applied great due diligence to identify the best Bitcoin trading apps in 2023 for your benefit.
Our Top Picks of The Best Bitcoin Trading Apps
Our research yielded a handful of candidates for the best Bitcoin trading apps, which we present to you below.
What Is The Purpose of a Bitcoin Trading App?
Have you ever thought of buying or selling Bitcoin from your smartphone but often dismissed the idea because accessing the web on the device is inconvenient? Smartphones are not built for web browsing, and that is why developers create apps. Mobile apps bring the web experience to smartphone users in a way that is both convenient and exciting.
Bitcoin trading exchanges and brokers realised this problem and had developers create mobile apps to bring the web-trading experience to smartphones. Therefore, Bitcoin trading apps are mobile apps that facilitate the buying and selling of the world's most valuable cryptocurrency. All you have to do is go to the relevant app store and download the app. Interestingly, you will have access to a Bitcoin trading platform's functionalities but with a touch of the mobile environment.
Bitcoin trading apps became the link between the smartphone generation and the cryptocurrency market. But this is not all. They also enable on-the-go trading. No matter where you are, you can access the market and see what is happening and probably make a trade. As such, the biggest advantage of Bitcoin trading apps is convenience.
Bitcoin trading apps are platforms like those based on the web. They are usually trading platforms of already established crypto trading exchanges and brokers or offerings from new companies.
You first create an account on the cryptocurrency trading app to access the market. The platforms ask for personal information like proof of residence and identity. The apps also use the information to comply with anti-money laundering regulations and KYC.
When your account is ready–usually within 24 hours of registration, but this could extend further due to delayed verification of details–you can now deposit funds. Pure-play Bitcoin trading apps prefer deposits in Bitcoin. However, others take deposits in fiat currency. You can start buying and selling Bitcoin and Bitcoin derivatives after the funds reflect in the trading account.
How To Find The Best Bitcoin Trading Apps
App Design and Usability
You can start by looking at the design of the app. Just looking at the graphical user interface (GUI) tells you if the developers had your welfare in mind while designing the app. Usability, in this case, refers to whether the app is capable of satisfying you as a Bitcoin trader. It should enable you to achieve the objectives of Bitcoin trading efficiently and effectively.
Make Sure your Crypto Funds are Safe
It is no secret that Bitcoin trading exchanges are a hot target for hackers because the digital currency is the modern-day gold. The security of the platform begins with the registration. You should consider things like the apps’ KYC regulations since this is the only way the platform can lock out bad actors. 2FA compatibility, negative balance protection and insurance are other important factors.
Trading Conditions and Tools
Lastly, the best trading apps will offer a fair number of tools that might help traders with different risk profiles and levels of experience. When choosing the next bitcoin trading app, you need to consider features like live charts, clear order books and risk management options like stop loss/take profit. Fees and fair prices are also a factor to consider so make sure you get a fair price/benefit ratio.
Is a Bitcoin Trading App Trustworthy?
As earlier mentioned, Bitcoin trading apps are mostly owned by existing Bitcoin trading platforms whose aim is to widen market reach. Today, it makes every sense from a business perspective to have a mobile app because there is where people spend most of their time. Most of these apps belong to brand names with which we are already familiar.
Because the brands thrive on trust, one concludes that users access the same professionalism when using their apps. In fact, the trading apps offer more security than web-based trading platforms because they benefit from the high standards of security maintained by smartphone manufacturers. Apple or Google implement rigorous security checks before agreeing to host apps on their platforms.
Furthermore, Bitcoin trading apps benefit from the security and safety features of their parent companies. For example, if a Bitcoin exchange or broker has a custody service or a vault, your coins will be stored in these places. The same goes for exchanges and brokers who have user insurance programs and who follow KYC guidelines to the letter. In short, you enjoy all the benefits that are offered to regular users when using a trading app.
This is why all of our picks belong to cryptocurrency exchanges and brokers who demonstrated that they play by all the rules and regulations in their respective jurisdictions.
Final Thoughts
This is just the beginning for Bitcoin trading apps, and we might see more of them in the future. Many people today spend most of their time glued to smartphones, which could go up in the future. As such, it looks like Bitcoin trading apps are the way to go.
The increasing popularity of Bitcoin trading apps also rests on the convenience that they offer. Imagine being able to follow the market from wherever and whenever. The good thing is that you can trust the apps because they are owned and operated by licensed and regulated companies.
Frequently Asked Questions
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This is a smartphone-based platform on which registered users can buy and sell Bitcoin and Bitcoin-related derivatives.
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This is a question of preference. Do you prefer trading on the go, or would you rather sit in a quiet place in front of a computer? There is not much difference between the trading platforms in terms of the service and security you get.
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Yes. Plenty of Bitcoin trading apps are available, and you can create an account and begin trading right away. If you already have an account, just log in on the app, and you will be on your way into the market in a few seconds.
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Bitcoin trading apps employ sophisticated mechanisms such as SSL encryption to protect user activity. Also, the likelihood of your funds disappearing due to a hack is low because the brands behind the apps go to extreme lengths to make sure it does not happen.
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The best Bitcoin trading app is the one that ticks all the right boxes when you are doing due diligence. However, any app that offers a high-quality user experience, reliability and low fees is a good choice.
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Yes. Most Bitcoin trading apps are trading platforms operated by the industry’s renowned brands. This is to say they adhere to the same high standards of quality service, only that apps run on smartphones.
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First, go to the relevant app store and download the preferred app. Log in if you already have an account and register for an account if you do not have one. With your account, you will easily access the market and be able to trade cryptocurrency after making a deposit.
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Anyone can use Bitcoin trading apps to access the market. These platforms offer the same quality of service you would expect on web-based trading platforms. The best trading apps have an easy to follow user interface that simplifies Bitcoin trading.