So, that crazy guy at work that’s been talking about Bitcoin for the past 3 years showed
up to work in a brand new model S and now you’re thinking, “maybe he’s onto something.”
But, with so many different platforms to buy and sell crypto, each with their own pros
and cons, it can be hard to figure out what’s best for you.
So we had our team pick the best crypto platforms, from beginner friendly apps to advanced trading
platforms, there’s something here for everyone.
But, before we start the video, it’s important that you know that YouTube has a big problem
with scam comments, especially on videos about crypto.
So, don’t message anyone from the comment section or take trading tips.
Links to all of the apps mentioned can be found in the video description below.
And don’t forget, like this video, subscribe and comment ‘subscribed’ to the channel
and we’ll give you a personal shout out in a future video.
Hello Technophiles!
Welcome to Tenzies Tech.
I'm Scott Leffler, and this is our list of the 10 Best Apps for Crypto Investing and
Trading.
#10 - Robinhood There’s a good chance you have heard about
Robinhood already.
Robinhood advertises rather aggressively across the internet and sponsors a lot of YouTube
creators, but unfortunately, we are not one of them.
Robinhood was built to provide an easy, commission free way for people to start investing and
trading stocks, but, they also have 7 cryptocurrencies available for you to trade; and just like
with stock trading, Robinhood doesn’t charge any fees to trade crypto.
This makes them the cheapest trading platform on this list.
However, the biggest problem with Robinhood is that you can’t move the crypto you buy
off of Robinhood.
This means you can only buy and sell your crypto in Robinhood and can never take custody
of the crypto you paid for.
Overall, Robinhood is a great user-friendly app for all those looking to dip their toe
into the crypto market to see if they can handle the volatility, but locking your crypto
in the app makes it a poor choice for anyone with more than a passing interest.
It’s also only available to US customers.
#9 - SoFi SoFi is another stock trading app that has
jumped onto the crypto bandwagon.
The app is highly rated on both the App Store and Play store thanks to SoFi’s excellent
customer support, heightened security measures, and their partnership with CoinBase to carry
out seamless transactions.
SoFi has kept a limited range of crypto with only 30 coins to invest in.
Fortunately, this limitation keeps the experience of trading simpler and gives a more focused
approach for new traders.
They also have a flat fee of 1.25% which may seem enticing compared to some of the other
entries on our list.
SoFi is a great app for those seeking a simpler approach to crypto trading, but the lack of
more sophisticated features compared to other entries on our list and the fact it’s only
available in the US has brought us to rank them at number 9 on this list.
#8 - Coinbase For beginners looking to learn the A-to-Zs
of crypto there is Coinbase Earn, a feature that allows you to earn crypto through taking
courses.
So the more you learn the more you earn.
But for those of you who want a more passive way of earning crypto, Coinbase also offers
a limited selection of coins that you can stake to earn interest, up to 5%.
However, just be aware you won’t be able to sell any of your staked coins.
If that doesn’t work for you then you can earn up to 4% cashback on purchases with the
Coinbase debit card.
That’s right, for every mocha-chip frappe you can get 26 cents back!
That might even out perform my 401k.
Unfortunately, this all comes at the cost of high trading fees and the absence of professional
features placing Coinbase at number 8 on our list.
#7 - Crypto.com Crypto.com is a great, feature rich, crypto
investment platform with a lot to offer.
There are over 180 cryptocurrencies for you to trade or you can earn interest on your
crypto holdings by staking or depositing it.
They also have an NFT platform where you can buy, sell, and mint your own NFTs.
But one of their most appealing features is their cashback cards.
These are pre-paid visa debit cards, just like Coinbase, but are metal, offer up to
8% cash back, and other perks like Netflix and Spotify reimbursement.
However, where Crypto.com lacks is its customer service, they only have the option for chat
support, which can potentially be time-consuming and unresponsive.
there’s no way around it… it’s bad.
The app is also not as easy to navigate as the previous options but as the features become
more advanced that is to be expected.
When it comes to trading, the features are surprisingly limited with no crypto-crypto
trading.
Because of this it ranks #7 on our list.
#6 – Celsius Celsius is mainly a decentralized finance
or ‘Defi’ platform that allows you to earn interest on your crypto holdings, typically
around 5% for coins like Bitcoin and Etherium and even higher for stable coins like USD
Coin.
Alternatively, if you need cash to buy the latest tech gadget you saw on Tenzies then
you can use your crypto as collateral and Celsisus will loan you the dough.
You can also earn crypto by receiving loyalty reward tokens that can increase the interest
you earn or decrease the interest on your loan.
Unfortunately, the rewards program isn’t available in the US and US residents must
be accredited investors to earn interest on their crypto holdings.
Celsius is a great choice for those that are playing the long game and want to hold on
to their crypto.
However, due to this niche use, limited range of cryptocurrencies offered, and the limitations
for US investors we’ve chosen to rank Celsius 8th on our list.
#5 – eToro Anyone who wants to sit back and invest based
on the movements of experienced traders, eToro’s social investing feature is awesome.
At the click of a button, you can choose an investor to copy, and their investments are
automatically imitated by your profile as well.
But, suppose you’re more of a DIY kinda guy.
EToro can help you learn technical analysis and has a virtual trading feature so you can
practice with fake money to see how good you are.
EToro only works in parts of the US and Europe and they have limited customer service options.
Also, you can’t move coins into the platform but that won’t likely be an issue for most
people.
All around EToro is a strong contender a suite of unique and valuable features making this
the perfect choice for our #5 pick.
#4 – Binance Binance is officially the largest crypto trading
platform globally.
For all Americans watching this video, Binance is perhaps the only platform on this list
that isn’t available in the US.
There is a Binance US but it is a separate platform.
Binance has over 500 cryptocurrencies available, and with its super-advanced system, all experienced
crypto investors swear by this app.
It’s worth noting that sometimes this can become too complex for beginners, and navigating
Binance is certainly a task.
On top of all the coins they offer, they also have NFTs available for trade.
The trading options, market charts, and many, many users to trade with do make the platform
undeniably impressive.
It's not all positive, though.
Binance has gone through a large-scale hack of the platform in 2019 which has definitely
tarnished their reputation.
They also have a not-so-impressive customer support system, and a somewhat high transaction
fee compared to some other entries.
Despite all this, their large-scale operations have secured a number 4 spot on our list.
#3 – Gemini A great platform for both beginners and pros
alike, Gemini has everything.
The app has the highest average rating out of all other platforms on our list, which
is 4.4 for the Play Store and 4.8 for the App Store.
For beginners, Gemini offers Gemini Basic on its desktop app.
This is much simpler to use and is perfect for all those that are learning the basics.
For advanced users, Gemini has Active Trading, which has features such as advanced charting,
tracking multiple order types, and block trading, which allows users to carry out high-volume
securities transactions that are privately negotiated.
There’s little to worry about when trading on Gemini since digital assets are insured
against hacks.
To top it all off, they also offer a crypto card as well.
The high app rating, basic and advanced facilities, and heightened security measures put Gemini
in a well-deserved position of 3rd on this list.
#2 – Bitmart When it comes to coin selection nothing beats
Bitmart with over 1,000 different coins and tokens to trade.
They have a pretty competitive fee structure as well, with a maximum commission of a mere
0.25%.
You can choose from either a standard interface or their advanced interface with all the trading
tools you might need.
If saving is more your style, Bitmart also has flexible and fixed savings products for
you to earn interest on your crypto with very competitive interest rates.
But, this isn’t available for US residents.
Bitmart is pretty much the largest market out there when it comes to the currencies
available, and the awesome features with the competitive fees put this app at #2 on our
list.
With so many coins to choose from it gives you the advantage of being first to something
big and like Jeremy Iron’s character said in Margin Call - There are three ways to make
a living in this business, be first, be smarter, or cheat.
Now, I don’t cheat.
And although I like to think we have some pretty smart people in this building, it sure
is a hell of a lot easier to just be first.
#1 - Kraken Kraken also has both advanced and basic features
for all kinds of investors.
For their basic app, the fee is higher than its more advanced version, Kraken Pro.
Advanced features include options such as future trading and low-fee margin trading,
which can provide much higher returns but come with more risk.
Kraken is available in almost all countries worldwide, perhaps more than any other entry
on this list.
They have excellent customer support, with both live phone and chat support options.
Though they aren’t insured, they do place 95% of their assets in “cold storage”
offline, making it almost impossible for hackers to get a hold of the crypto you invest in.
The only drawback to this app is the fact that it isn’t available in all states across
the US, and US users have limited options for funding their accounts but this is more
an issue of US regulatory agencies than the app itself.
Kraken’s strengths certainly outweigh any of their negativities, which is why this platform
is #1 on our list.
- So what do you think about our list?
Have we missed out on any great crypto platforms?
Let us know your favorite platform in the comments below.
And while there, be sure to like the video and share it with all your friends who are
thinking of getting into crypto.
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