There's never been a better time to get involved with the cryptocurrency boom. Whether you’re looking to buy, sell or hold Bitcoin or something newer like Dogecoin, there is a tonne of options that allow you to do it all straight from your phone. These will allow you to manage your investment portfolio on the go as well as give you up-to-date data on the market.
Furthermore, these apps usually have a friendlier interface compared to their desktop counterparts, meaning they can be less intimidating if you’re just getting started. However, before you jump in, you should be aware of what the most important metrics are in these crypto apps. Read on for all the information you need before checking out our recommended Android and iOS downloads.
For those after a quick look, here is our Top 5:
Binance LTD - Binance for £0.00
Gemini Trust Company, LLC -
Exodus Movement, Inc. -
Gemini Trust Company, LLC
Exodus Movement, Inc.
A Top-Rated CFD and Wallet With Outstanding Security and Over 150 Currencies
All the Tools to Build and Execute Your Crypto Strategy From Starter to Pro
A Straightforward Wallet and Trading Exchange Popular With Beginners
An All-in-One Trading, Ownership and Wallet App That's User-Friendly Too
An App With a Solid Reputation Built on Security and Customer Service
One of the Best and Most Secure Wallets Around
A Great Pick if You're Interested in Trading Stocks as Well as Crypto
An Intuitive Wallet That Works Well With the Big Name Currencies
One of the Most Secure Options for Those Who Want Extra Peace of Mind
A Good Place to Start That's Regulated Too
|Platform||CFD, wallet||Ownership||Wallet, CFD||Ownership, CFD, wallet||Ownership, CFD||Wallet||CFD||Wallet||Ownership, CFD||CFD|
Ownership apps are best suited to those looking to buy into a cryptocurrency and then play the long game – in other words, you'll be holding onto your currency for several months or maybe even years. With current trends, this should steadily make your investments grow, so you can make them work for you this way.
These styles of apps usually have everyday payment connections, meaning you can link with your bank account for purchasing. They’re a solid option, but if you want to get into the trading of cryptos, then you’re not in the right place. For this, you’ll want to consider a different style of the app (more on them in a second).
CFDs (Contract for Differences) are the place you go to trade your cryptocurrency. Like the stock exchange, the value of cryptos rise and fall. Therefore, buying and holding isn’t the only way to make money. Instead, by trading, you can play the market for a quicker boost to your earnings.
Moreover, most of these apps allow you to trade without any commission, which is generous. That said, the cryptocurrency market is volatile at best, so it can be a riskier strategy to trade frequently. This is why many professionals and organisations agree that you shouldn’t be investing more than you can afford to lose.
Finally, once you’ve found the perfect place to do your work, you’ll want a digital wallet. As with a real-life wallet, this is where your earnings will live. Sometimes you’ll find that an app for buying or trading will have this option, but this is likely less secure than a for-purpose one. So, it’s worth downloading another one.
Of course, you won’t be able to buy, sell or trade with these. Instead, they focus on keeping your goods safe. Although, if you’re frequently moving and only holding onto the currencies short term before trading again the next day, then it might not be worth picking a wallet. If you want to hold long term, then it’s a wise idea.
Unfortunately, regulation is still somewhat of a grey area in the crypto world. This is because of the technology behind it, which governments can’t easily control. Depending on your outlook on life, this can either be considered a pro or a con. One thing it is for sure is more of a risk.
It is quite surprising considering the billions of pounds that get traded every day, but it’s just a case of waiting for the laws to catch up with technology. After all, many of those who founded cryptos did so because they didn’t want centralised and regulated money.
Next up, it is vital to know that the application has some security. Otherwise, you could be left open to digital attacks. These attacks are essentially like someone getting access to your bank account, which is not ideal to say the least.
Luckily, the companies themselves don’t want this to happen as it’s not good for their business, so any app worth their salt will have some protection. However, if you want to ensure that you have the best protection out there, then looking for an app that has 2FA (2-factor authentication) or back-end encryption is the way to go.
One of the most exciting aspects of this whole field is that it is fluid. The markets are constantly moving, so you may catch a moon shot and see your coin skyrocket by 25%. On the flip side, the opposite can happen too, and your investment can lose half its value.
Therefore, keeping your finger on the pulse means requiring up-to-date, minute-by-minute information on the data. Thankfully, many companies provide this in their apps, meaning you’re only ever a couple of clicks away from seeing how things are changing.
One thing worth considering is how comprehensive you want the metrics to be. For some people, having an overly complicated tracker will be off-putting, although there is more data. For others, the simplicity will make them feel like they don’t have all the information. For this reason, it’s worth checking a few apps out, which is easily done with a quick download.
You’ll also want to consider the various currency options each app offers. If you’ve made it here, then the chances are you already know what Bitcoin is, but since the invention of Namecoin in 2011, hundreds of others have spawned. These are regularly referred to as altcoins simply because they’re an alternative to Bitcoin.
All of these coins practically use the same basic framework. However, many of the newer currencies claim to have an updated or better version, which you might be keen to purchase. But while they all have the same foundation, each system can differ from the next as they’re created to serve different systems.
Other than coins, you have the option of crypto tokens. These work similarly to money in that they do have value. However, they do represent value. These are created and given through ICO’s (initial coin offerings) like a stock offering. Tokens are easier to build than a coin and just require the developer to follow the template of the currency blockchain.
This ranking has been compiled by the writing team at mybest UK via careful evaluation of the points made in the buying guide and thorough research of each product and comparing multiple verified customer reviews across the EC sites used.
Buy Bitcoin Securely
Buy Bitcoin Instantly
Crypto Bitcoin Wallet
Earn, Borrow, Grow Wealth
|Platform||Ownership, CFD, wallet|
Trade Stocks & Crypto
Advanced Crypto Trading
Crypto Exchange App
Written and researched by Lewis Clark
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