Trading cryptocurrencies to a beginner may seem like a high-tech project. However, the truth is that crypto exchanges are mostly equipped with a user-friendly interface that also comes as a mobile app.
In this article, we will discuss the best crypto trading apps available and compare them by the characteristics users find most important, like safety. We’ll also give you some tips on how to use these apps to earn money on the go.
Here is a quick overview of our topics:
The Best Cryptocurrency Apps;
1. eToro – overall best crypto app;
2. DeFi Swap – best-decentralized crypto app;
3. Bitstamp – best crypto app for fast and secure transactions;
4. Gemini – top secured crypto trading app;
5. Crypto.com – crypto app for portfolio diversification;
Tips on how to use a crypto app to make money;
Ways to make money with crypto apps for beginners;
1. Staking;
2. Yielding;
3. Holding;
4. Play-to-earn crypto games;
5. Airdrops;
Conclusion
The Best Cryptocurrency Apps
Here is a short analysis of crypto trading apps when it comes to their safety, user-friendliness, rules, and pay rates.
eToro
Is the overall best mobile crypto trading app, popular for its security, low fees, and ease of use. This crypto exchange is regulated in the US, UK, Australia, and Cyprus, supporting more than 50 cryptocurrencies.
The eToro app requires no prior investment experience, and it will take five minutes to get used to. The app supports a variety of payment methods, such as PayPal, Skrill, or a card. All you need to get started as a US client is a minimum deposit of $10.
DeFi Swap
Is a fully decentralized crypto exchange operated with the help of user-generated liquidity pools. Users get good yields by depositing tokens into DeFi Swap’s liquidity pools or by staking tokens. Rewards are also given to holders of DeFi Coin (DEFC), the exchange’s native token. The DeFi Swap app covers more than 50 tokens and supports MetaMask and WalletConnect.
Bitstamp
Is one of the oldest crypto exchanges available, with a ten-year track record. Users choose Bitstamp for instant transactions, low rates, and good security. The app is fit for beginners but also has advanced options experts appreciate.
Gemini
Is the crypto trading app with probably the toughest security. Its creators went above and beyond to make it super safe, adding things like identity verification, two-factor authentication, and even hot wallet insurance. Of course, all of this comes with a higher cost in fees, but many professional traders are happy to pay for extra security.
Crypto.com
The app is the best for making a diversified portfolio since it offers more than 250 digital assets. This app is easy to use for complete beginners. In addition, Crypto.com has lower commissions for regular traders and special perks for holders of its native cryptocurrency CRO.
All of these apps have their good sides, but not all will be perfect for you. So before making a decision on which app suits your needs best, make sure to do your additional research on the best crypto app.
Tips on How to Use a Crypto App to make money
Now that you have decided on the best crypto trading app for your level of expertise and overall expectations, the fun part starts. How to set this money-making pocket machine into action and earn some income from this crypto app?
We have prepared a smart list of practical tips you need to follow every day in order to see some progress in your crypto wallet.
● It’s all up to you.
Your wits, dedication, commitment, tactics, and informed decision-making are the only thing that can make a difference. This advice is applicable in any life situation, but it particularly applies to crypto trading. Don’t expect others, be it apps or people, to make you rich. Always use your own head.
● Never stop doing your research.
You need to invest some time in reading about the market and get informed daily about the latest news regarding cryptos, so you can make informed decisions. Once you gain a thorough understanding of the market and immerse yourself well in the matter, you will feel more secure about your decisions, and they will be less intuitive and more reasonable.
● Start with a sure thing.
Choose something checked and favored by many users, like stablecoins. Starter investments that are made wisely could boost your morale and help you get comfortable with trading cryptos. Therefore, as a beginner, try to avoid anything highly speculative, like initial coin offerings.
● Practice makes it perfect.
Don’t be afraid to try and probably make some beginner crypto trading mistakes. It’s a key part of the process of learning. Just be prepared before you make those mistakes so that you can stop yourself at the right moment to keep those mistakes small and tolerable.
● Never put all your money on just one asset.
Make diverse choices so that if all boats go down, at least one stays afloat. Never put all your money on just one coin or just one type of digital asset, or one type of investment. This is important, particularly when dealing with cryptos, since they can be highly volatile. Never invest anything you aren’t prepared to lose. This will help you keep the ground beneath your feet at all times, good or bad.
Ways to Make Money with Crypto Apps for Beginners
Here is a short list of the best ways beginners can easily earn with Crypto Apps. Of course, these are not the only ways but are probably most fitting for a beginner who is just trying to make his first money on cryptos.
Staking
Is the easiest method of earning from cryptos. You don’t have to speculate your moves on a daily basis. Instead, find the best tokens for staking and let them reward your patience with a passive income. The system will use your tokens to help validate transactions on blockchain networks that use proof of stake, and you will be rewarded as long as your tokens remain locked.
Yielding
Is another way of making money on cryptocurrency apps recommended for beginners. With crypto yield farming, you lend your idle tokens to a liquidity pool of a decentralized exchange. These tokens usually need to stay locked away for a preset time earning you passive interest in return.
Crypto Yield Farming is not to be confused with simple lending. In yield farming, you lend your token to a crypto exchange to help it maintain liquidity, while in crypto lending, you deposit your tokens into a savings account. These tokens will then be lent to others who want to borrow funds. This is why it’s very important to carefully check who you are lending your assets.
Yield farming is more recommended to beginners than lending because big exchanges have a reputation they need to keep and tend to be more reliable. These exchanges depend on their liquidity pools, and keeping them is extremely important for the functioning of a crypto exchange. You’ll not only be making money by yielding but also helping to maintain the system.
Holding
Is another way of making money on cryptos beginners should try. It’s not as exciting as day trading, but it will get you some progress with patience.
Holding is buying good crypto and keeping it in your wallet for years until it grows. Then, when you find a cryptocurrency that is highly likely to grow in the long run, you won’t be influenced by daily or monthly fluctuations of value.
Play-to-Earn Crypto-Games
Is a way of having fun and earning at the same time. Video games are now linked with the blockchain and reward users for their in-game achievements with cryptocurrencies.
Airdrops
Are a source of free new cryptocurrencies that are simply put in people’s wallets just to make them circulate. Some of these can be worthless or even fraudulent, but there were cases of coins that started as airdrops only to become multimillion-dollar projects. You need to be careful with these, nevertheless.
Conclusion
In this article, we have shown you some of the best crypto trading apps, exploring their advantages and the reasons crypto traders use them. We also gave you some tips on how to start earning money with crypto apps and the methods that will get you there the easiest way.
We recommend you try the best crypto app, eToro, and opt for staking the cryptos you previously carefully chose for that purpose. This is the best method for a beginner to get his first passive income out of cryptocurrencies.
