Essential apps a beginner cryptocurrency investor needs
You decided that you want to invest, trade, and earn interest in your cryptocurrency. But, when it comes to choosing the right cryptocurrency app that gives you what you want, there are many apps to choose from.
The rise in cryptocurrency investing offers various app options to help short-term traders and long-term investors. There is an app for everyone’s crypto needs—everything from wallets, portfolio tracking, to exchange and brokerage apps.
The Most Important Element In A Cryptocurrency App
New cryptocurrency holders ask one of many questions: What should I look for in a cryptocurrency app? The answer: High-level security.
Keeping your cryptocurrency safe should be your top priority.
Once cryptocurrency transactions are complete, they are tough to trace. After a transaction is launched between two wallets, it’s concluded and impossible to cancel or get your money back.
The risk of an unauthorized transaction from your exchange is high if you download an exchange or wallet app that is not secure.
The result could become a nightmare from hackers, scammers, and online criminals lurking around. The solution is to download and exchange on apps that are verified to be highly secure. Also, check the reviews before you download the app onto your phone.
Another step you can take is to search the app’s name to see if there have been complaints of scams reported. Additionally, check the legitimacy of the company or people that developed the app.
Cryptocurrency Wallet Apps
After buying your cryptocurrency, you need to store it somewhere safe and secure. An essential element to a cryptocurrency wallet is a private key.
A private key helps to protect your cryptocurrency from theft and unauthorized access to coins. In addition, private keys enable you to have access to your funds.
When you have your cryptocurrency stored on an exchange, they are custodial, meaning a third party is trusted to the private keys and serves as a safeguard.
The characteristic that makes cryptocurrency so unique is that it is digital money stored in a wallet with a private key and password.
When you have a cryptocurrency wallet, the primary purpose is to have complete access to your private keys.
A cryptocurrency wallet is a digital and secure software that stores, sends, and receives cryptocurrency. In addition, it is a software that interacts with the blockchain.
Coinbase Wallet
Crypto enthusiasts suggest Coinbase Wallet as the best crypto app for beginners. It is a well-known cryptocurrency exchange within the U.S. The company provides a simple platform to trade cryptocurrencies, including Bitcoin, Enthreum, and Dogecoin.
Coinbase is a great option for beginners because the interface is easy to understand. The wallet is coherent with the company’s exchange, making it easy to do transactions and buy coins and tokens with regular money.
Blockchain.com
According to daytradingz.com, the best app for beginners is Blockchain.com. This app is a popular for beginner cryptocurrency holders.
Blockchain.com enables users to buy, store, and sell Bitcoin and other cryptos. A top feature of this app allows crypto traders to make crypto to crypto conversions and send and receive coins via a debit card. The app is easy for beginners to navigate around on.
Cryptocurrency Exchange Apps For Beginners
An app that allows users to buy and sell crypto by using other cryptocurrencies and U.S. dollars is popular among crypto holders.
A cryptocurrency exchange app enables the user to connect their bank account through ACH or have the option to connect a credit or debit card to buy and trade. Some cryptocurrency exchange apps offer bonuses and rewards.
If you are a U.S. resident, you will need to verify your identity before trading because of tax tracking reasons.
Crypto.com
An app that is great for traders who want a highly secure and low-cost crypto exchange. In addition, Crypto.com offers anyone looking for passive investing will like crypto.com because it allows users to earn interest on their balance without trading often.
It’s an ideal app for crypto traders who want low fees and earn rewards.
eToro
eToro is an excellent option for new cryptocurrency investors looking for a platform that is easy to use. This app is for users who want to concentrate only on popular cryptocurrency.
Many beginner crypto traders like this platform because it’s easy to navigate around. eToro offers convenience and allows users to trade various cryptocurrencies and other assets such as stocks and funds.
It’s a one-stop platform for trading. A feature called CopyTrader gives new traders the ability to copy strategies that professional traders use.
Beginner Cryptocurrency Portfolio Tracker Apps
The cryptocurrency market is constantly shifting. Without warning, each cryptocurrency’s value can change instantly. As a new crypto investor, it may seem overwhelming to keep track of your coins.
A cryptocurrency portfolio tracker app displays changes within your portfolio and lets you look to see how much money you have at the moment. Also, cryptocurrency portfolio tracker apps enable users to connect to various exchanges, services, and wallets.
Portfolio trackers are vital for crypto investors because they allow price changes to be on watch any time of the day or night. These apps are helpful for both professional and casual crypto investors.
A portfolio tracker is ideal for anyone who wants to know the value of their investments and have updated information on hand.
It’s key to make sure you download a safe and secure cryptocurrency portfolio tracker. As a beginner cryptocurrency investor, it’s important to be wary of apps that seem sketchy or threatening.
Cryptocurrency portfolio trackers often link your bank account or an exchange putting your money and coins at risk. Apps that have a two-factor authorization and multi-layer encryption will help protect you.
Delta
One of the most successful cryptocurrency portfolio tracker apps available. Delta is popular and considered the best crypto portfolio tracker app among cryptocurrency investors because it is an intuitive and attractive app.
Features for the Delta app include a complete and transparent view of a user’s cryptocurrency holdings, including a total portfolio balance, values of multiple cryptocurrency coins, and overall total loss and profit.
In addition, it provides a market overview and watchlist. Also, it allows a user to integrate any crypto wallet and connect your exchanges directly to the Delta app.
CoinStats
CoinStats is a cryptocurrency portfolio tracker app that contains multiple features and is known as a well-established app.
Users can connect numerous crypto wallets and exchanges to their CoinStats account. The significant features CoinStats offers is it will calculate a user’s profit and loss automatically.
In addition, the app provides valuable information such as a change in coin balance that happens within 24 hours, calculates a user’s profit and loss by considering a user’s last trade, and calculates profit and loss by holdings currently owned.
To Conclude
Cryptocurrency is an investment that is intriguing and exciting. Building your assets with cryptocurrency can be a desirable investment endeavor.
However, as a cryptocurrency beginner, you need to learn all that you can about cryptocurrency and apps to help you make wise and profitable decisions.
Keep in mind that high security should be a top priority for every cryptocurrency app that you download. By utilizing the right crypto apps, you are on the right track to your cryptocurrency investment goals.
Disclaimer: None of the links mentioned in this article are affiliated or sponsored.
Important: Always seek financial advice from a professional financial advisor. This article is meant to educate and inform you of financial options.
Finance and Business Operations Pathway 