Best Cryptocurrency Exchange App

Best Crypto Currency Apps for 2021

Best Crypto Currency Apps for 2021
Written by publisher team

Currency symbols

Cryptocurrencies remain one of the most important assets in the market, and they are unlikely to change. It is one of the most discussed, most volatile, most sought after and (in some cases) most valuable asset classes. Countless pixels have been poured into the legal and tax status of crypto assets alone. People have made fortunes, and many, many have lost their entire investment. This does not mean that you should stray, but if you want to jump into cryptocurrency trading, you should make sure you provide yourself with the right information and tools. Here are five apps that will help.

Determining how much, if any, of your wallet has crypto assets is challenging. A financial advisor can help you evaluate your choices.

Great for Trading: Coinbase

This writer usually argues strongly against app-based trading. Investment manipulation has not served anyone. However, cryptocurrency is a little different. This is an asset class that is highly volatile, so many traders are well served to have the tools needed for quick day trading in their pocket. And if you are going to keep a cryptocurrency trading app in your pocket, Coinbase is the option to choose.

Why: Quick access to trading, which can be very useful for a highly volatile asset class.

Positives: Coinbase is one of the most highly rated cryptocurrency exchanges, and its app is well designed for light research and trade execution.


Negatives:
Although Coinbase is well-respected, it is more expensive than many competing exchanges, and the app’s focus on ease of use makes it difficult to conduct more complex research.

Great for the wallet: Ledger

A cryptocurrency wallet is the way you store your cryptocurrency keys. It can be as complex as code bits from custom hardware or as simple as a piece of paper stuck inside your craft wallet. Ultimately, the point of this service is to store the long alphanumeric string that secures access to each of your tokens.

Cryptocurrency traders discuss the relative advantages of storing your keys offline (“cold storage”) versus online storage (“hot storage”). While cold storage provides more security, hot storage provides significantly better access. This is an oversimplification of the debate, but fortunately Ledger allows you to skip the issue entirely. With the Ledger app, you can track and monitor crypto-keys, while also pairing them with the company’s highly regarded hardware options for more secure cold storage.

Why: Track and access crypto keys with your phone, anywhere, anytime.

Positives: One of the most respected names in the wallet and storage business, Ledger offers hardware-based storage solutions that pair with the company’s software to allow you to access these keys online.

Negatives: Ledger can be very expensive.

Great to spend: Gemini

Gemini constellation

Gemini constellation

Gemini, named after a well-known constellation, has steadily become a well-known part of the crypto world. The platform offers exchange trading, interest-bearing banking products, and even lending through its Gemini credit card. Readers who are interested in cryptocurrency as a currency, and not just as an investment asset, should check out all of these products. (Although readers interested in cryptocurrency as a currency should be very careful about the volatility of this asset class.)

For our purposes, the Gemini app is particularly useful as a spending tool. Its QR-based software makes it easier than ever to actually spend cryptocurrency on real-world products and services. If you want to buy a cup of coffee (or a car) with Bitcoin, this might be the app for you.

Why: Cryptocurrency spending can be a very real challenge. This app makes it very easy to use your crypto as currency.

Positives: Spending cryptocurrencies by simply scanning a QR code on the Gemini app is as easy as using any mobile wallet on the market.

Negatives: Relatively few businesses still accept cryptocurrency in exchange for goods and services, and you will still have to deal with long transaction times due to the nature of cryptocurrency itself.

Great for research: currency metrics

Investors who want to research the cryptocurrency market will be embarrassed by the fortunes. There are hundreds, if not thousands, of websites dedicated to tracking and analyzing the cryptocurrency market.

Among these, Coin Metrics stands out. Not only does it offer a massive and powerful set of data, but it does so in a relatively clean and accessible way for the average user. Their data isn’t always the easiest to delve into, but that’s partly the nature of the product. When you reach a certain point and the evolution conflict, Coin metrics err on the side of giving you more data. But for users who want to learn as much as possible during their morning commute, Coin Metrics is a winner.

Why: Research the market and your options before making a trade, or anxiously re-search the market after you submit your orders.

Positives: A wealth of information and a well-designed interface make this a great product.

Negatives: This well-designed interface can only go so far, Coin scaling can be rather dense and sometimes difficult to use.

Great for tracking: Blockfolio

Portfolio tracking can be an essential method of weeding through market data.

A tracking app is one that doesn’t just keep track of the crypto market in general (although many offer this feature). Instead, it specializes in keeping track of the contents of your wallet. You can check out, see what you have and how each of these products works. While this sounds simple, it can actually be a very valuable product in a volatile market like cryptocurrency. This is a fast product, and Blockfolio offers a particularly good product. Originally designed for smartphones, this app is clean, comprehensive and gives you exactly the information you need. It is a must for serious crypto traders.

Why: Constant access to information about a cryptocurrency wallet and how it works.

Positives: Blockfolio has a great design built for smartphones from the ground up and it supports every currency in the market at the time of writing.

Negatives: While it is connected to the largest exchanges, if you are using a smaller exchange, Blockfolio may not work for you, and their price alerts may not work for every type of crypto asset.

bottom line

Crypto Trader

Crypto Trader

Like any form of investment, cryptocurrency traders will perform better if they have the right tools. For access to active trading, we recommend the Coinbase app, while Blockfolio is particularly good at tracking that wallet. The in-depth research is well handled by Coin Metrics, and Ledger has created an impressive portfolio. And if you want to spend all these codes, Gemini might be the app for you.

Investment Tips

  • Volatility can be intimidating, but it isn’t always a bad thing. In fact, it can be very good, as volatility means that the asset can go up as much as it goes down. The key is to make sure these speculative assets are well balanced in your overall portfolio, and this is where a good financial advisor can be invaluable. Finding a qualified financial advisor doesn’t have to be difficult. The free SmartAsset tool matches up to three financial advisors in your area, and you can interview your advisors at no cost to determine which one is right for you. If you are ready to find a counselor, start now.

  • Since the IRS classifies cryptocurrency as property, you may owe capital gains taxes. SmartAsset’s Free Capital Gain Calculator can help you find out how much you owe.

  • If you lose money on Bitcoin or other crypto assets, a financial advisor can also help you discount your capital gains losses. Learn more about tax loss harvesting.

Image credit: © iStock.com/alengo, © iStock.com/Alexandr Yurtchenko, © iStock.com/Clerkenwell

The 2021 Best Crypto Currency Apps post first appeared on the SmartAsset Blog.

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