Here is the best, easiest-to-use app to buy crypto
You’ve heard friends brag about their cryptocurrency earnings. You’ve seen prices go up (and down) by hundreds of percent. You are really interested in the crypto space.
Whatever your reason, if you’re considering getting into crypto, the first thing you should do is buy some. And the easiest way to do that is to use an app…but how do you choose the right one?
Before we reveal our pick for the best app to buy crypto (and a runner-up), here are a few things you should know.
First of all, we only considered applications that actually allow you to access the private keys of your cryptocurrencies. Revolut, for example, gives you access to cryptocurrencies, but if you buy bitcoins there, you cannot send them to another address. This may be fine for some users (or even preferable because it’s so simple), but there’s a saying in crypto: Not your keys, not your coins.
This means that unless you control your crypto’s private key – a long string of characters that allows you to send your crypto to another address – you don’t really own it. Equally important, private key control allows you to participate in the crypto space using various blockchain applications. (By the way, never give your private key to anyone and keep it in a safe place.)
Second, you should know that there is no perfect app that meets everyone’s needs. A popular application in the United States may be inaccessible or even prohibited in another country, and vice versa. Your bank may not allow transactions to a certain service. An application or service may have a limited set of features in one market compared to another market. In other words, you’ll have to do some research on what works best for you, locally.
Our best app to buy cryptocurrencies
There are no surprises here; the best app to buy cryptocurrencies is Coinbase. It is available in more than a hundred countries (note, however, that it does not allow buying or selling crypto on all of these markets) it has been around for a while decade, with no notable security incidents in the past two years, and has over 73 million verified users. You can get it from the Android Google Play Store or the iOS Apple App Store.
On top of all that, the app is well-designed, simple to use, and covers most major coins, including Bitcoin, Litecoin, and Dogecoin, stablecoins like USDC, Tether, and DAI, and decentralized finance platforms. such as Ethereum, Avalanche and Solana, among others.
Buying crypto with the Coinbase app is simple: you fund your wallet with fiat currency (USD, EUR, etc.) by transferring funds from your credit or debit card. Then you can use this money to buy coins supported by Coinbase.
Buy crypto on Coinbase in three steps: First, fund your wallet with cash. Then choose the part you want to buy. Finally, enter the amount of money you want to spend and click “buy”.
Additional perks include “learn and earn” lessons that allow you to earn small amounts of crypto after completing a few tasks, the ability to earn returns on certain crypto holdings, and Coinbase Card, a debit card that lets you spend cryptocurrencies from your Coinbase wallet.
Coinbase is not the best platform to actively trade crypto; for that you have Coinbase’s own Coinbase Pro, as well as Binance, FTX and many more. You can also find other platforms with lower fees. But to enter the world of cryptocurrencies, Coinbase will do.
For a much more advanced – but also much more complex – crypto experience, try Binance’s mobile app. Binance is a huge crypto exchange that supports hundreds of cryptocurrencies and has almost every feature under the sun including margin trading, a debit card, various promotions, coin staking, gift cards and many others.
This is only part of what Binance has to offer.
A big advantage over Coinbase is that Binance is much more nimble when it comes to introducing new cryptos into the mix, so if you want to trade something fairly fresh, chances are you will find it on Binance weeks or months before it arrives. at Coinbase.
The downside is that Binance can be a bit overwhelming for an inexperienced user who just wants to get into the world of cryptocurrencies. Additionally, Binance does not offer a fully unified experience across all markets; for example, users in the United States will get a different application (Binance.US) than users in other markets.
Good to know
Cryptocurrencies are a highly speculative investment. Many of them are extremely volatile, with prices sometimes rising by several hundred percent before dropping to near zero (and vice versa). Be careful, do your research before you buy anything, and never spend an amount you’re not prepared to lose.