Cryptocurrencies are taking traditional investment sectors by storm. The blockchain-powered innovation has become increasingly popular thanks to the proliferation of cryptocurrency apps. The apps have made it easy for people to buy and sell digital coins and have also made it possible for people to use them for various purposes.
Cryptocurrencies are increasingly being used to finalise transactions in some retail outlets. They have also found their way into the traditional investment industry, as investors are using them to diversify investment portfolios. This guide will list some of the best cryptocurrency apps for 2021.
Our Top Picks of The Best Cryptocurrency Apps
As more people pay attention to cryptocurrencies, demand for convenient mobile solutions is increasingly growing. We have compiled some of the things and features to look out for in cryptocurrency apps.
What is the Purpose of a Cryptocurrency App?
Cryptocurrency apps are platforms designed to offer people easy access to news, information and resources of various digital assets.
For instance, there are apps well suited to buy cryptocurrencies for price speculation purposes. By essentially purchasing and holding altcoins, people speculate on prices moving in a given direction. Cryptocurrency apps for exchanges allow people to connect a bank or credit card to buy cryptocurrencies. Some of the apps allow people to purchase digital currencies outright.
Similarly, apps make it possible for people to use their cryptocurrency holdings for various purposes. As the number of outlets accepting cryptocurrency payments increases, so are cryptocurrency apps which make it possible for people to use their holdings to complete transactions upon buying goods and pay for services rendered.
Some cryptocurrency apps are also proving to be essential tools for managing cryptocurrency portfolios. The apps allow people to see and manage various digital currencies from one platform.
Cryptocurrency apps in the form of wallets come with advanced security features designed to keep coins safe. Such apps act as a storage facility for cryptocurrencies that people purchase on cryptocurrency exchanges.
It is advised that once a cryptocurrency is purchased on an exchange, it should be transferred to a cryptocurrency wallet for safe storage. In recent years, exchanges have proved to be vulnerable to hack attacks that have seen millions of dollars lost.
Cryptocurrency apps are also becoming valuable outlets for information and data in the burgeoning sector. The fact that cryptocurrency exchanges are open 24 hours, seven days a week calls for platforms that provide real-time news that influence trader’s sentiments. Likewise, some apps specialise in sharing the most valuable news that influences various crypto pairs' price action activity.
The best cryptocurrency apps for news are the ones that focus on the most important cryptos such as Bitcoin and Ethereum as they account for the biggest share of all activities in the sector. Such apps also come in handy in sharing vital information on smaller coins making unusual movements.
As cryptocurrencies become important investment securities attracting institutional investors, apps make it possible to keep track of real-time prices. Trackers are a special type of cryptocurrency apps that show real-time information on cryptocurrency prices.
How to Find the Best Cryptocurrency Apps
App Design and Usability
Even though the cryptocurrency sector is still in the early stages of development, one is always sure to be spoilt for choice on the app to use, to perform various functions. Easy to use interface enhances navigation allowing people to carry out various operations with ease. Similarly, the app should come with round the clock customer support capable of addressing all the issues that users might have from time to time.
Make Sure Your Crypto Funds Are Safe
Security is paramount regardless of the kind of features and offerings that a cryptocurrency app is offering. The fact that cryptocurrencies are difficult to trace, calls for extra caution when selecting a platform for buying, selling and holding digital currencies. Once a transaction is initiated between wallets, it is practically impossible to carry a reversal, let alone cancel it. End-to-end encryptions should also come in handy to ensure all coins are kept safe and beyond hackers' reach.
Storing Conditions and Tools
Likewise, it is vital to settle on an app that accords the highest security level to holdings. Similarly, it is important to settle on apps that offer 2-factor authentication (2FA) to shield one’s account from unauthorised access. Keeping in touch with real-time information is a sure way of making good use of opportunities that crop up. Therefore, it is important to settle on a platform that can offer real-time data and information ideal for making informed decisions when dealing with some of the most volatile altcoins.
Is a Cryptocurrency App Trustworthy?
While there are apps that claim to provide one of a kind experience while dealing with cryptocurrencies but that is not always the case. In most cases, a trustworthy app will be one that is available on two of the biggest platforms Google Play and Apple Store. Ensure to check out the reviews of the app before deciding to use it.
Availability in these two app stores adds a layer of confidence about their credibility as well as the security level, ideal for protecting people’s holdings. A trustworthy cryptocurrency app is one that comes with advanced security features such as 2-factor authentication curated to protect users.
Cryptocurrency apps are platforms that connect people with the vast cryptocurrency community allowing them to buy, sell and hold cryptocurrencies for various purposes. Also, they let people control their crypto portfolio. Safe storage of crypto holdings is an added feature that such platforms come with and some apps also offer real-time news and price updates.
Likewise, it is important to settle on a reputable, trustworthy cryptocurrency app if one is to have the best experience while dealing with various cryptocurrencies. Apps listed on Google Play Store and Apple App store are best as they boost the highest level of credibility and reputation.
Frequently Asked Questions
Cryptocurrency apps are broadly classified into exchange apps that allow people to buy and sell cryptocurrencies. Wallet apps that offer safe storage for digital assets bought in exchanges. News apps that specialise in offering real-time crypto news and trackers that offer real-time information on cryptocurrency prices.
Cryptocurrency apps allow users to build crypto portfolios, execute various trading strategies, stay informed on the latest news and trade in the crypto market.
In addition, cryptocurrency apps provide users with a way of tracking asset prices and real-time market prices, any-time and anywhere. Similarly, they offer real-time information that people use to make informed decisions about crypto investments.
The best cryptocurrency apps are those that are available worldwide. Such apps let you connect with the market regardless of location. Similarly, such apps are easy to use and come with advanced security features that ensure holdings and private data is always protected.
Yes, there are cryptocurrency apps that have integrated all the necessary tools that allow traders to study price action activity and carry out technical analysis of various cryptocurrency pairs.
Most reputed cryptocurrency apps offer greater security in the form of 2FA authentication.
Some of the things to look out for a while selecting cryptocurrency apps include security features to shield data and holdings from hackers. The app's availability, the number of cryptocurrencies supported, and the interface are some of the things to look out for.
Some apps are regulated but it is important to check the reviews and regulatory status in your local jurisdiction before using an app.