Cryptocurrencies have been around for a little over ten years. Digital coins and tokens are fast and secure and offer users a better alternative for trading, investment and paying for goods and services. There are many cryptocurrency apps that can be used for a variety purposes. It can be difficult to choose the right one because of the sheer volume. Your worries are over as this guide will list some of the best crypto apps in 2022, inspecting each for their benefits and features.

Our Top Picks for the Best Crypto Apps

1. 
   
   eToro
   
   

   – Best All-Round App

2. 
   
   Binance
   
   

   – Best for Altcoins

3. 
   
   Coinbase
   
   

   – Best for Beginners

4. 
   
   Nexo
   
   

   – Best for Extra Features

5. 
   
   bitflyer
   
   

   – Best for Low Fees

1. eToro – Best All-Round App

eToro ranks as the best cryptocurrency app thanks to the range and quality of services it provides. eToro allows you to trade both traditional and crypto currencies. The intuitive user interface and rich feature set make it a great choice for beginners as well as veterans.

eToro offers a complete crypto solution that includes a wallet, staking and trading platforms. To leverage the knowledge of experienced traders, you can also use eToro’s CopyTrader feature. Read our full eToro review here.

Pros

• Trade 59 of the most popular digitial currencies

• 0% commission

• $10 minimum deposit (UK and USA)

• Multi-asset platform

• Social investing features

• Regulated, with strong security

• Available in over 100 countries

• Easy to use

• Educational resources

• Wide range of deposit options

Cons

• Unavailable in a number of countries

• Not as many cryptocurrencies as some focused crypto exchanges

2. Binance – Best Crypto App for Altcoins

Binance is one of the best crypto apps for a range of traders, with over 600 cryptocurrencies listed. Convert makes it easy to make purchases, while more advanced traders can benefit from dynamic charts and advanced tools through Binance’s Spot trading interface.

The app provides a variety of derivatives and earning opportunities, such as staking and savings accounts and liquidity farming. Binance even has its own NFT market. Read our full Binance review here.

Pros

• 600+ coins

• Educational resources in Binance Academy

• Debit card available

• NFT marketplace

• Staking services and savings accounts

• Token launch platform

• Advanced trading tools

• Low transaction fees

• 24/7 chat support

Cons

• May be a bit technical for absolute beginners

• Faces regulatory hurdles in some jurisdictions

3. Coinbase – Best Crypto App for Beginners

Coinbase’s clear and easy-to-use interface makes it the best crypto trading app for beginners. Coinbase offers a variety of payment options, including PayPal and reasonable trading fees. The minimum trade size is $2.

You can set up recurring purchases or stake your crypto by clicking a button. The Coinbase Pro platform offers advanced trading tools and a more technical interface. Read our full Coinbase review here.

Pros

• Supports over than 50 top coins

• 100+ countries supported

• Low trading fees

• Beginner-friendly

• Staking services and other features available

• Earn free crypto through learning campaigns

• Debit card for spending crypto

• Secure offline storage

• High-quality educational resources

Cons

• Not as many digital currencies as some competitors

• Fees can be high using card payments

4. Nexo – Best for Extra Features

If you don’t want your crypto to simply sit idle once you’ve bought it, Nexo is held by many to be the best crypto app for building wealth. You can earn up to 17% annual interest on your crypto and stablecoins, which are paid out daily. You can also trade and buy crypto via Nexo.

The intuitive interface makes it easy for you to manage and grow your portfolio. You can also borrow crypto as collateral. You can also use the Nexo Card to spend your crypto.

Pros

• Trade, borrow, and earn interest on 38 coins

• Available in 200+ jurisdictions

• Up to 17% annual interest available

• Borrow cash or stablecoins

• 2% cashback on purchases with the Nexo Card

• Military-grade security

• Up to 3x leverage with Nexo Booster

Cons

• Fewer cryptocurrencies than many competitors

• Lack of advanced trading tools

5. bitFlyer – Best Crypto App for Low Fees

There are no fees for buying and selling digital currencies with euros on bitFlyer, while the trading fees on the pro Lightning crypto exchanges are very competitive. BitFlyer is the best app for buying and selling crypto, starting at EUR1.

The simple interface makes it easy to sell and buy crypto. BitFlyer Lightning offers enhanced transaction tools for experienced traders. You can also get started quickly with bitFlyer Lightning by submitting your ID.

Pros

• Low trading fees

• Easy to use

• Secure and regulated

• EUR1 minimum trade amount

• ID verification in under 5 minutes

• Advanced trading with bitFlyer Lightning

Cons

• Only 7 cryptocurrencies available

• Trading pairs for fiat currencies EUR and JPY only

Cryptocurrencies are just digital numbers recorded in a complex ledger called a blockchain. Apps are required to interact with the coins and purchase and spend them. These apps also offer different types of information about cryptocurrencies such as news and price movements. DeFi’s rise has led to complete lending and borrowing systems using smart contracts, which can only be accessed via the apps.

How Do Cryptocurrency Apps Work?

As interfaces for accessing information and the cryptocurrencies themselves, these apps work by creating a front-end UI that people can use.

There are many versions of these apps, each one designed for a particular operating system. First, find the right app for your device (Android or desktop, iOS, etc.). App developers often create the same app for multiple platforms. If you have more than one device, you can use the same app.

Apps like price tracking or news can simply be downloaded and run. It may not require registration. However, if a cryptocurrency app is designed for handling finances, such as wallets, exchanges, etc, these will require the user to register themselves.

Typical registration requires the users to create their login credentials: a username and a password. The app may use an individual’s email address as a username. An app might also use an email address to send a link or security code to verify the user.

If you create a cryptocurrency wallet, you might be able to access your newly created wallet by completing the registration process. To fund their crypto wallets, wallet owners must go to the deposit option and copy the provided public key.

This is the key that identifies the wallet. It must be sent to anyone who wants to transfer cryptocurrency to the wallet owner. The balance will reflect the cryptocurrency once the wallet has been funded.

Wallet holders are also able to send cryptocurrencies. You will need to navigate to the Transfer or Deposit option. Three sets of information are required to transfer cryptocurrencies: the number and public address of the recipient wallet as well as the transaction fee.

Several crypto wallet apps support multiple cryptocurrencies, so it is paramount to make sure that the right wallet address is selected. The coins will be lost if a cryptocurrency is sent to another blockchain.

Cryptocurrency exchanges are also registered on more or less the same principle as any other crypto app. These apps are subject to KYC and AML checks because they involve serious money issues. You can integrate the KYC into your registration or add it after. A step-wise KYC is possible for crypto exchanges. This allows certain levels to be defined based upon the user’s trading volume. Each level unlocks enhanced cryptocurrency trading, deposits, and withdrawals.

KYC process, although varying from app to app and regulators, requires some basic documentation such as:

• Official ID, issued by the government.
• A copy of a recent utility bill with the name and address clearly mentioned or any other document showing the registered address of the user.
• Proof of income to trace the funding of the cryptocurrency exchange account.

The crypto exchanges might ask for more information, subject to the locality of the trader and the app developers. There are many crypto exchange apps which promote privacy and do not require KYC checks.

Though this can be very attractive for people who are uncomfortable with handing over their personal information, the risks of these crypto exchanges being scams is very high. These apps don’t require KYC and are therefore not required to register with any regulatory agency. They are therefore not bound by the law to protect users’ crypto assets.

Developers can take the digital currencies of users and run. They will keep their identities secret and not be traceable.

A crypto exchange app’s funding process is similar to that of a wallet. The funds are deposited at the public address associated with the crypto. Many cryptocurrency trading apps offer fiat currency support. They can accept wire transfers, bank transfers, and credit cards as well as debit cards.

Once the crpyto account has been funded, users can trade cryptocurrency by choosing their desired fiat or crypto trading pair. A trader can request a withdrawal of crypto assets by going to the Wallets section.

Every cryptocurrency app was created to be specific and some even have cross-platform compatibility. It can be difficult to choose the right one among thousands of available options. The selection criteria can become tough when using crypto apps such as wallets and trading ones as this can involve serious monetary funding. There are some things you should keep in mind when choosing a crypto app. Developers should be trustworthy and have a track record. Apps can also pull data from other sources and the blockchain, so authenticity of data should be a top priority. It should be simple to use and understand.

Security is a top priority for apps that allow you to store and spend cryptocurrencies. Even if the app has a solid team behind it, and an intuitive interface that allows for data input, security flaws can make it too risky. This could lead to users losing their funds or being stolen. The app must also have good funding options. If the correct cryptocurrency is not available, exchange apps can be difficult to use. If a trader or user needs to withdraw or deposit traditional money, an app that allows fiat funding is a good option.

There are many fees associated with the movement of cryptocurrency. Transferring crypto to another wallet will incur a transaction fee. Trading apps will charge a commission for each trade. These fees may vary from one app to the next.

If you need to use the app frequently, it might be worth looking into the supported OS. It is very convenient to have mobile-ready apps that you can access from any device.

Find your perfect app by balancing different features.

Cryptocurrencies have become popular in the past few years as they provide much better options for spending, trading and investing than traditional money and assets. As such, owning these, trading, investing or just keeping up with the non-stop news can be a bit hard. These dedicated apps allow people to navigate the cryptocurrency waters and make financial decisions.

By using our carefully selected and the best cryptocurrency apps in 2022, you can narrow down your choices and find the app best suited for your requirements.