The cryptocurrency boom is getting bigger and bigger; people all over the world now finally realize that cryptocurrency is more than just a trend. Many places have now started accepting Bitcoins and Ethereum as valid methods of payment for goods or services.
Cryptocurrency mining and trading are some of the most popular investments in 2021, and chances are you may even have a nifty crypto portfolio for yourself.
If you’re dedicated to trading cryptocurrency and keeping track of your crypto assets, you must have access to a reliable and robust cryptocurrency trading app on the move. Read on as we take a look at the best cryptocurrency apps for Android.
What Makes a Good Cryptocurrency App?
Before we dive into the best cryptocurrency apps for Android, it is important to know the typical features of a cryptocurrency app and what makes a good crypto app great. To choose the most suitable app, you will need to decide what is more important.
Ideally, the best cryptocurrency app should have a large range of available currencies that you can buy from, with low transaction fees and exceptional security features that keep your assets secure. There are over 2,000 listed cryptocurrencies, but only a handful are available for trading on even the most popular crypto exchange platforms.
If you only plan to trade in cryptocurrencies such as Bitcoin or Ethereum, then you do not need to consider altcoin support while considering a suitable cryptocurrency app.
If you will be trading from the Android app regularly, then it is crucial that the app has low transaction fees and is feasible. It is also pertinent that the platform is available as a desktop or web app.
Often, cryptocurrency apps are not allowed to operate in some regions, so you need to be sure that the cryptocurrency app you choose operates legally in your state or country. A well-designed easy to use interface is also essential in any crypto trading app.
Now that you know what to expect in a cryptocurrency app let’s look into the best cryptocurrency apps for Android.
1. eToro
eToro is an exceptional all-around cryptocurrency app that is trusted by millions of Android crypto traders worldwide. Buying and selling on eToro is relatively easy, and you retain complete ownership of your assets. eToro’s most important feature is the extremely low transaction fees.
The platform does not charge you any commission when purchasing cryptocurrencies or while depositing funds into your account. You will, however, pay a tiny 0.5% currency conversion fee for non-USD deposits. You can cash out and withdraw funds to your bank account by paying $5 per withdrawal.
However, the platform does not allow you to withdraw your crypto assets to a private wallet, so your assets will remain on eToro until you cash out. The Android app is well designed with an easy-to-use minimalistic user interface.
eToro only offers a handful of popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple. If you want to trade altcoins, make sure they’re available on the eToro platform before signing up.
All in all, eToro is a fantastic cryptocurrency trading app that is well regulated and offers very low trading fees.
Download: eToro (Free)
2. Binance
Binance is one of the world’s largest cryptocurrency trading platforms for Bitcoin and altcoins. It supports over 200 cryptocurrencies and is very well regulated.
If you have recently started cryptocurrency trading, then we highly suggest signing up on Binance due to its highly user-friendly platform and help tutorials. Beginners can use the lite mode of the mobile app to help get started on their “journey to the moon.”
Another significant benefit of trading on Binance is the multiple deposit options such as bank deposit, credit or debit card, Peer-2-Peer trading, and even crypto deposit.
The flexibility allows investors to add funds to their accounts through different methods. This is incredibly useful in countries where credit/debit cards are not supported on Binance. You can utilize Peer-to-Peer to trade crypto directly with other businesses or users.
Binance does not charge you when you deposit funds into your account, but withdrawal fees are automatically adjusted depending on the market status. The trading fee on Binance is very low and depends on your associated tier level. Moreover, if you make use of Binance’s native BNB coin, you can get ever lower trading fees.
Download: Binance (Free)
3. Coinbase
Coinbase is probably the most popular cryptocurrency trading platform in the world. It has fewer altcoins as compared to Binance, but it supports all major coins. It also offers tutorials for beginners that can help you understand the basics of crypto trading.
A significant downside of Coinbase is its extremely high transaction fees compared to competitors such as eToro or Binance.
The transaction fees can be pretty confusing to understand. If you opt for Coinbase Pro, you will pay lower transaction fees and have a straightforward pricing model that depends on the liquidity of your assets and monthly trading volume. However, the interface for Coinbase Pro can be a bit overwhelming if you have only just begun trading cryptos.
The Coinbase app has a phenomenal user interface that is modern and easy to use. It shows you the overall market gainers and losers on the fly and keeps you updated with essential crypto updates.
Coinbase is the largest cryptocurrency exchange in the US, but high trading fees can be problematic if you’re not using Coinbase Pro.
Download: Coinbase (Free, premium version available)
4. Kraken
Founded in 2011, Kraken offers a range of available cryptocurrencies with top-notch security, making it an excellent crypto exchange for beginners and experienced traders. The platform takes security to a whole new level. 95% of deposits are stored offline across the globe, with platform servers being tightly secured as well.
Kraken offers low trading fees depending on whether you are a buyer or seller. Low volume traders pay approximately 0.16% maker fee and a 0.26% taker fee. But using the Instant Buy feature can cost you an additional 1.5% fee for selling, buying, or converting orders. Kraken offers significantly lower transaction fees when compared to Coinbase.
Kraken provides over 50 cryptocurrencies for users to dabble in. Bitcoin, Ethereum, Cardano, Flow, and more are readily available for trading.
Kraken’s Android app has a very modern and intuitive design. You can quickly check your portfolio and market prices, and can even get the latest news and updates of each cryptocurrency.
Download: Kraken (Free)
The Best Cryptocurrency App for Android
There is no denying that cryptocurrencies are the future, and with the right cryptocurrency app on your side, you will be able to make the right decisions better. Binance and eToro are exceptional cryptocurrency platforms that keep your assets secure and require low commission fees, while also providing comprehensive mobile apps.
Just make sure you understand the risks of cryptocurrency before you begin, and invest wisely.