Cryptocurrency

Best 10 Apps for Cryptocurrency Trading

Published

2 years ago

December 22, 2021

Changing times and changing science and technology have resulted in changing modes of business and earning money. Thus, many new ways of earning money have popped up and become popular. But one needs to be sure before investing in one such mode or starting a business in one such mode. Thus, it is important to know what the different modes are and what they are about, and how they work. One such popular model is a cryptocurrency, which is a word that the reader might be quite familiar with.

Recently, this world has been doing rounds of the business world continuously. Various people have gone on to earn millions with various cryptocurrency nodes, and all it takes is a clear understanding of the field, the right guidance, a clear concept of profit and loss, and also of the internet. Thus, here, we will talk about the best 10 apps for cryptocurrency trading that you can choose to use, and make big profits.

Understanding the concept of cryptocurrency

A cryptocurrency is a range of binary data that can be used to make transactions, albeit online. It is similar to real-time monetary transactions but also different in various ways. There are various cryptocurrencies available, and the individual ownership of every coin, of every currency is stored in a ledger, which contains the records of all transactions made. The online ledger is nothing but a strong database that keeps track of all transactions involving the cryptocurrency, new additions, and also records of individual ownership of the coins. Cryptocurrency is now a roaring business and you can easily earn profits from cryptocurrency with the help of various platforms, apps, and websites. We shall look at some of those apps, especially the best ones, and take brief looks at their features and how they have been reviewed by critics and veterans of the trade.

Best 10 Free and Premium Apps for Cryptocurrency Trading

Let us take a brief look at some of the best cryptocurrency apps and their features, and why you might choose to use them.

Coinbase

Voted as one of the best cryptocurrency apps by various websites and critics, it has amazing features, and the pros of this greatly outweigh the cons, which are only very few.

Features

There are 123 currencies available for trade.
It includes a wallet.
There is a solid variety of altcoin choices, which will give the user a look to choose from.
The interface is extremely user-friendly, and thus, very easy to use.
The app is known for having very high liquidity.
There is also a Coinbase Pro version, with features that are slightly more in number and also superior.

Cash App

It is preferred widely by several people who are veterans of the cryptocurrency field and thus, it is well worth mentioning in this list. Let us take a close look at the features of this app.

Features

It has only one currency available for trade.
The transaction fees vary in various cases.
It includes a wallet.
It is really easy to use and has a very user-friendly interface.
It had the option of peer-to-peer money transfer.
It can withdraw Bitcoin.
Highly secure.

Bisq

It is quite popular for not requiring to Know Your Customer (KYC) documents. It is really easy to use.

Features

It is a decentralized, non-KYC platform.
It has more than 15 different payment options.
It has 45 currencies available for trade.
It includes a wallet.
The transaction fees are in the range of 0.05 % to 0.7%.

Binance.US

One of the frontrunners of the cryptocurrency business, Binance was founded in 2017 but then banned in the USA in 2019. However, they created Binance.US in 2021, which has climbed to the top of the ladder.

Features

There are hundreds of currencies available for trade.
It includes a wallet.
The transaction fees vary between 0.015% to 0.1%.
It has a highly advanced charting system.
The fees of this app are lower than the other apps.
It offers a large variety of cryptocurrencies and trading options.

Gemini

Rated highly, Gemini is widely preferred by a large number of people, and that is not for no reason. This app offers a huge number of features.

Features

Offers a large range of cryptocurrency options.
User-friendly interface and easy-to-use app design.
Has the amazing Gemini Earn feature.
The required account minimum is $0.
Positively reviewed by critics and highly secure.

eToro

These apps or platforms are rated highly by critics, eToro has some amazing features that make it worth using and we shall look at these features in the section below.

Features

Contains quite a considerable range of cryptocurrencies on the app or platform.
It offers commentating capabilities just like social media.
You can follow and match the investments of your fellow cryptocurrency traders.
The required account minimum is $50.
The fees required are 0.75%-5% of the ask spread, depending on the currency.

Robinhood

It is among the best and the most well-known apps for the trading of cryptocurrencies and also for online trading, and stocks.

Features

It has a large number of cryptocurrencies.
It gives fast access to deposits.
The trading of cryptocurrencies on Robinhood is completely free of any commission.
The account minimum is $0.
The fee required is $0 for stocks, options, cryptocurrencies, and ETFs.

SoFi Active Investing

Quite well-known among veterans of online trading, stocks, and cryptocurrency, SoFi Active Investing is known to offer a large number of superb features which have led it to feature in this list.

Features

It is known for having a well-rounded financial ecosystem.
There are five different cryptocurrencies to buy and sell.
SoFi Active Investing can take out loans, save, and trade stocks.
The account minimum is $1.
The transaction fees are $0 for stocks, and1.25 % for cryptocurrencies.

Kraken

Rated highly by users and veterans of the trade, Kraken has built a strong reputation for being a very dependable cryptocurrency trading app and is used by a large number of people.

Features

Offers a solid range of cryptocurrencies with low fees.
It is known to have very high cybersecurity ratings.
One of the oldest cryptocurrency platforms and thus trusted widely.
Quite a sophisticated design.
The fee is 0.16%/0.26%, maker/taker.

Crypto.com

It offers more than 70 cryptocurrencies and a huge number of perks and thus, it makes the last spot on this list. We shall take a look at the features below.

Features

170+ cryptocurrencies for trade.
There is limited market trading.
It has high cybersecurity ratings.
Highly sophisticated trading features which might appeal to veteran users.

Conclusion

Therefore, these are the best apps for cryptocurrency trading which you can use to trade various cryptocurrencies and make huge profits. However, it is advised that you check all the features of an app before you start investing in it.

Related Topics:Apps Cryptocurrency Featured

Cryptocurrency

How To Become a Master in Bitcoin Trading

Published

6 months ago

June 6, 2023

Daniel Egusa

Welcome to the world of Bitcoin trading! Here we know about the basics of Bitcoin trading and equip you with the knowledge and skills needed to navigate the exciting and ever-changing cryptocurrency market. Whether you’re a beginner or have some experience in trading, here are valuable insights to enhance your Bitcoin trading journey.

What is Bitcoin?

Bitcoin is a decentralized digital currency that was introduced in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a public ledger that records all Bitcoin transactions.

Why Trade Bitcoin?

Bitcoin trading offers numerous advantages and opportunities for traders. Here are some key reasons why many individuals are drawn to Bitcoin trading.

1. Volatility

Bitcoin is known for its high volatility, presenting traders with significant opportunities to profit from price fluctuations.

2. Decentralization

As a decentralized currency, Bitcoin is not controlled by any government or financial institution, providing users with greater autonomy and independence.

3. 24/7 Market

Unlike traditional financial markets, Bitcoin trading operates 24/7, allowing traders to participate at their convenience.

4. Global Accessibility

Bitcoin can be traded from anywhere in the world, making it accessible to individuals without geographical restrictions.

How to Getting Started with Bitcoin Trading

1. Set up a Bitcoin Wallet

Before you can start trading Bitcoin, you’ll need a Bitcoin wallet to securely store your digital assets. There are various types of wallets available, including:

Hardware Wallets: Physical devices that store your Bitcoin offline for enhanced security.

Software Wallets: Applications that can be installed on your computer or smartphone.

Online Wallets: Web-based wallets accessible through a browser.

Choose a wallet that suits your needs and follow the instructions to set it up.

2. Choose a Right Bitcoin Exchange Platform

To trade Bitcoin, you’ll need to select a reputable cryptocurrency exchange. Some popular exchanges include Binance, Coinbase, Kraken, etc. Compare the features and fees of different exchanges to find the one that aligns with your trading requirements.

3. Learn the Basics of Technical Analysis

Technical analysis plays a crucial role in Bitcoin trading. It involves analyzing historical price data and using various indicators to predict future price movements. Familiarize yourself with common technical analysis tools, such as:

Candlestick charts: These charts display price movements over a specific period, helping identify patterns and trends.

Support and resistance levels: These levels indicate price levels at which Bitcoin may encounter buying or selling pressure.

Moving averages: Moving averages smooth out price data and provide insights into the overall trend.

4. Develop a Trading Strategy

Having a well-defined trading strategy is vital for success in Bitcoin trading. Consider the following factors when developing your strategy:

Risk Management: Determine the amount of capital you are willing to risk on each trade and set stop-loss orders to minimize potential losses.

Entry and Exit Points: Identify optimal entry and exit points based on your technical analysis and risk appetite.

Timeframe: Decide on the timeframe for your trades, and whether you prefer short-term day trading or long-term investing.

Emotional Discipline: Emotions can negatively impact trading decisions. Maintain discipline and stick to your strategy.

FAQs

1. How do I choose the right time to buy Bitcoin?

Timing the market perfectly is challenging, even for experienced traders. Instead of trying to predict short-term price movements, focus on the long-term potential of Bitcoin. Dollar-cost averaging, which involves regularly buying Bitcoin regardless of its price, can be a strategy to consider.

2. Should I trade Bitcoin on leverage?

Trading Bitcoin on leverage involves borrowing funds to amplify your trading position. While leverage can increase potential profits, it also magnifies losses. It is recommended for experienced traders who understand the risks involved. Beginners should exercise caution or avoid leverage altogether.

3. What are the tax implications of Bitcoin trading?

Tax regulations regarding Bitcoin trading vary across jurisdictions. Consult a tax professional or refer to the guidelines provided by your local tax authority to ensure compliance with tax obligations related to cryptocurrency trading.

4. Can I trade Bitcoin with other cryptocurrencies?

Yes, many exchanges offer trading pairs that allow you to exchange Bitcoin for other cryptocurrencies. These pairs are denoted in the format “BTC/ALT,” where ALT represents the name of the alternative cryptocurrency.

5. How can I secure my Bitcoin?

Securing your Bitcoin is crucial to protect your digital assets from potential theft or hacking. Consider implementing security measures such as enabling two-factor authentication, using hardware wallets, and keeping your wallet software up to date.

6. What are the risks associated with Bitcoin trading?

Bitcoin trading involves inherent risks, including price volatility, regulatory changes, and security vulnerabilities. It’s important to conduct thorough research, stay informed about market developments, and only invest what you can afford to lose. You may need to know about the Bitcoin trading laws to before starting invest in Bitcoin.

Conclusion

You’ve now mastered the basics of Bitcoin trading. Remember, trading cryptocurrency can be highly rewarding but also involves risks. Continuously educate yourself, practice risk management, and adapt your strategies as the market evolves. With dedication and a solid understanding of the fundamentals, you can navigate the exciting world of Bitcoin trading.

Cryptocurrency

Bitcoin Trading Laws to Trade Confidently and Legally

Published

6 months ago

June 6, 2023

William Watson

Bitcoin and other cryptocurrencies have gained immense popularity as alternative investment options. As the cryptocurrency market continues to expand, it is crucial for traders to understand the Bitcoin trading laws in order to trade confidently and legally. This article provides an overview of the legal aspects surrounding Bitcoin trading, ensuring that traders have the necessary knowledge to navigate this exciting and evolving market.

What are Bitcoin Trading Laws?

Bitcoin Trading Laws are regulations and guidelines set by various governmental bodies and financial institutions to oversee the trading, taxation, and legality of Bitcoin and other cryptocurrencies. Adhering to these laws not only protects traders from potential legal repercussions but also ensures the stability and integrity of the financial system.

How are Bitcoin Trading Laws Regulated?

Bitcoin trading laws vary from country to country. While some nations have embraced cryptocurrencies and formulated specific regulations, others have imposed restrictions or even banned their use altogether. It is important for traders to familiarize themselves with the legal framework of their respective jurisdictions to engage in Bitcoin trading with confidence.

Key Aspects of Bitcoin Trading Laws

Classification of Bitcoin

Bitcoin is often categorized as a digital asset, commodity, or currency, depending on the jurisdiction. The classification has a significant impact on the legal implications surrounding Bitcoin trading, including taxation and regulatory requirements. Traders must determine how their local authorities classify Bitcoin to ensure compliance with relevant laws.

Regulatory Bodies

Different countries have different regulatory bodies overseeing Bitcoin trading activities. For instance, in the United States, the Securities and Exchange Commission (SEC) plays a crucial role in regulating cryptocurrency exchanges and initial coin offerings (ICOs). Other countries have similar regulatory bodies that enforce specific rules and guidelines for Bitcoin trading. Familiarizing oneself with these regulatory bodies and their mandates is essential for traders.

KYC and AML Regulations

Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations are often applied to Bitcoin exchanges and trading platforms. These regulations require traders to provide identification documents and undergo verification processes to prevent illicit activities such as money laundering and terrorist financing. KYC and AML procedures not only ensure compliance with the law but also promote transparency and security within the Bitcoin ecosystem.

Taxation Laws

Taxation is a critical aspect of Bitcoin trading that varies across jurisdictions. Traders must understand the tax obligations associated with their Bitcoin investments, including capital gains taxes on profits, reporting requirements, and any exemptions or deductions available. Consulting with a tax professional who specializes in cryptocurrency taxation can provide valuable insights and ensure compliance with applicable laws.

Consumer Protection

As the popularity of Bitcoin trading grows, so does the need for consumer protection measures. Some countries have implemented laws to safeguard traders’ interests, such as requiring exchanges to maintain adequate cybersecurity measures, ensuring the fair treatment of customers, and providing avenues for dispute resolution. It is crucial for traders to understand the level of consumer protection offered in their jurisdiction and choose reputable and regulated trading platforms.

Frequently Asked Questions

1. Are Bitcoin trading laws the same worldwide?

Bitcoin trading laws vary across countries and even within different regions of a single country. It is important for traders to research and understand the specific laws governing Bitcoin trading in their jurisdiction.

2. Do I need to pay taxes on Bitcoin trading profits?

Yes, in most countries, profits from Bitcoin trading are subject to taxation. Traders should consult with tax professionals to ensure compliance with tax laws and understand reporting obligations.

3. What happens if I trade Bitcoin illegally?

Trading Bitcoin illegally can lead to severe legal consequences, including fines and imprisonment. It is essential to understand and abide by the applicable Bitcoin trading laws to avoid any legal troubles.

4. Can I trade Bitcoin anonymously?

While Bitcoin offers a certain degree of pseudonymity, most regulated exchanges and trading platforms require users to undergo identity verification processes as part of KYC and AML regulations.

5. Are there any age restrictions for Bitcoin trading?

Some jurisdictions have age restrictions for engaging in Bitcoin trading. Traders should check the legal age requirements in their country before participating in cryptocurrency markets.

6. What should I do if I suspect fraud or illegal activities in Bitcoin trading?

If you suspect fraudulent activities or encounter any suspicious behavior in Bitcoin trading, it is advisable to report such incidents to the appropriate regulatory authorities or law enforcement agencies.

Conclusion

As Bitcoin and cryptocurrencies continue to revolutionize the financial landscape, it is crucial for traders to stay informed about the Bitcoin trading laws in their respective jurisdictions. Understanding the legal framework not only helps traders operate confidently and legally but also contributes to the overall stability and growth of the cryptocurrency market.

Cryptocurrency

What Are The Top 5 Crypto Mining Stocks You Should Check Out in 2022?

Published

1 year ago

June 21, 2022

Daniel Egusa

Financial managers and investors across the world are turning their heads toward the global cryptocurrency market as a new source of investments. While the cryptocurrency industry is still young, they have gathered enormous steam and are being taken seriously even by conventional financial streams.

As any cryptocurrency course would tell you, there can be many ways to profit off these digital currencies in 2022. One popular approach is cryptocurrency mining. You can mine cryptocurrency stocks and hold them till you can sell them at an enormous value and pocket the profits.

However, there are scores of cryptocurrency mining stocks today, and it can be difficult to choose the right one for yourself. We can make your decision easier through this blog by summarising some of the best crypto mining stocks that you should check out this year.

Which crypto mining stocks can provide the best value and investment opportunities in 2022?

If you have a limited budget, you can opt for the following cryptocurrency mining stocks as they provide the best value for their price. These mining stocks have had the lowest price-to-sales ratio for the last 12 months.

Canaan Inc. (CAN)
HIVE Blockchain Technologies Ltd. (HIVE)
Bitfarms Ltd. (BITF)

Which crypto mining stocks are the most promising and fastest-growing in 2022?

More than often, you should also check out the top performing crypto mining stocks as well as the ones that show the most promise. This can help you draw up a long-term cryptocurrency trading strategy.

Here are some of the most promising cryptocurrency stocks that can be expected to boom in the upcoming years.

Marathon Digital Holdings Inc. (MARA)
Riot Blockchain Inc. (RIOT)
Russell 1000
Hut 8 Mining Corp. (HUT)
Amplify Transformational Data Sharing ETF (BLOK)

What Are The Benefits Of Cryptocurrency Trading?

Learning about the top cryptocurrency mining stocks can help you figure out which stocks would perform for you in the long run. This can help you become an experienced cryptocurrency trader and earn significant amounts of money.

You might argue that other conventional forms of trading can beat crypto trading since it’s very dynamic and seemingly unreliable. However, crypto trading offers distinctive advantages over other trading forms such as:

Independence from conventional trading brokerage firms and platforms
Opportunity for portfolio diversification
Ease of transactions
Unimaginable security surrounding trading transactions
Outsized returns compared to other trading forms
Privacy maintained during your trade transactions
Considerable protection against market fluctuations and inflation
Short settlement times and lower brokerage fees as compared to other trading forms
The exponential growth of the industry
Ability to achieve financial independence within a short time

How Can You Learn More About Crypto Trading?

Cryptocurrency trading and mining can be incredibly technical and require you to be quite knowledgeable about the fintech space. Fortunately, a good cryptocurrency trading program can help you learn everything about crypto trading including the best crypto stocks and trading strategies.

Start looking for appropriate crypto trading courses around you today!