Everyone is making money off of bitcoin these days. You see the value climbing and institutional investors becoming interested in this volatile asset, and you want to join the action as well. But the question is, how? How should you start trading bitcoin? An amount to trade with is obviously the first pre-requisite. But you also need to understand and research the crypto market, especially the speculation and trends surrounding bitcoin. Once you’ve got the funds and the knowledge, the most important decision is perhaps choosing the best bitcoin trading app.
2021 Best Bitcoin Trading Apps
If you search best bitcoin trading apps on your android phone, you’d be greeted with hundreds, if not thousands, of results. As bitcoin trading gains popularity, the app market is flooded with products that offer this service. It can get a bit confusing to choose the best bitcoin trading app among so many “best apps.”
But a few that really take the crown, especially for 2021 first quarter, are:
Binance is often considered one of the best trading platforms for its range, but it leads in another area, i.e., trading volume. The app is used by millions of users worldwide through two variants: One for the US and one for non-US traders. The app is well-regarded, highly rated, and trusted. The Binance exchange offers over a thousand BTC trading pairs alone, which is most likely by far the most extensive range.
Since it also offers a lot of trading volume, you won’t have trouble finding and timing your trades, probably even when you move away from bitcoin and trade another currency.
When it comes to trustworthiness, another name that is beloved and trusted in the bitcoin community is Coinbase. It’s one of the most widely used exchanges, and the trading app: Coinbase Pro is also well regarded and rated. The app comes with a wealth of helpful features like real-time candle and depth charts, advanced order forms, and deposit/withdrawals in native currency (thanks to its association with Coinbase exchange).
It supports a wide variety of crypto assets, and foremost among them are Bitcoin, Ethereum, and Litecoin. You can also easily trade crypto with crypto. There is no fixed fee; it’s somewhere around 0% to 0.5%, based on the crypto you are trading.
Gemini might not have the global reach of the trading apps like Coinbase and Binance, but it’s a very powerful trading app in the US. It doesn’t offer a very wide variety of crypto assets but includes almost all the major cryptos. There are no account minimums, and you also earn interest on the crypto you hold in your Gemini Earn account at rates that can go as high as 7.4%.
Gemini itself is a regulated crypto exchange, and its safety and security are trusted by other apps the offered crypto as well (like Canada’s Wealthsimple trading app).
It’s one of the early birds when it comes to bitcoin trading, but it can still be counted amongst one of the best Bitcoin trading apps. It’s highly rated, and despite a mishap in the past, it’s still one of the most well-trusted bitcoin trading apps. There are two variants, Kraken and Kraken Pro, where Kraken is more of an exchange app, and Pro is the true trading app.
Security is one of Kraken’s chief selling points, along with relatively low fees and spread. It gives you access to 100+ markets and 30+ crypto assets.
Even though there are numerous new trading apps like bitqs, which have yet to prove their mettle to the world, the gurus and early birds hold the stage in 2021 as well, especially for beginners. So, if you plan just to test the waters of crypto trading, we would suggest trying one of the tried and trusted trading apps, and when you become a more advanced trader, you can hunt down specific bitcoin trading apps to find the ideal fit.