Best 6 Cryptocurrency Trading Applications

Explaining Crypto Trading Apps

Crypto trading apps are essentially a segment of online brokerage services, facilitating easy entry into the cryptocurrency market for users already trading through online brokerage platforms. Such apps typically present a simplified alternative to the often overwhelming landscape of direct cryptocurrency exchange platforms.

Important Points

• These apps provide platforms for trading a curated selection of cryptocurrencies.

• Initially centered on traditional assets, these apps now also incorporate cryptocurrencies, providing a familiar environment for existing traders to start diversifying with digital currencies.

• They generally prioritize established cryptocurrencies to foster a secure entry point for traditional investors seeking exposure to the digital asset market.

• Platforms such as eToro, Robinhood, and Revolut, among others, are key players in this space.

Article sponsored by eToro.

Cryptocurrency assets have excelled in performance over traditional asset types in the last decade. As more conventional investors become interested, brokerage platforms have been prompted to include diversified cryptocurrency trading options, which are user-friendly and support a mix of asset classes, like stocks and ETFs alongside digital currencies.

Cryptocurrency Transactions via Online Brokers

Among the plethora of services provided by online brokerages, crypto trading has emerged due to growing interest. In this discussion, we refer to the crypto services of online brokers simply as crypto trading apps.

These apps enable existing customers of the brokerage firms to venture into the world of cryptocurrencies with ease, without learning new processes of trading. For those accustomed to conventional trading platforms, the leap to investing in cryptocurrencies is less daunting within this regulated and simplified system.

Although they resemble centralized exchanges, crypto trading apps have their distinctions, outlined mainly in the number of cryptocurrencies offered, regulatory adherence, and the simplicity of their interfaces, features like limit order functionality mirror those found on traditional exchanges.

Contrasting Crypto Trading Apps and Exchanges

Crypto exchanges are dedicated to cryptocurrency trading, unlike trading apps that mostly handle traditional asset transactions with crypto assets being a minority offering.

Trading apps concentrate on major, well-known cryptocurrencies and hence, typically list fewer currencies compared to exchanges. They streamline the overall experience, offering simple interfaces and functionalities similar to centralized exchanges, such as limit orders. Some platforms, however, engage in derivative trading rather than actual asset exchanges.

Below, we review some prominent crypto trading applications.

eToro: Combining Over 5,000 Conventional Assets with Cryptocurrency Trading

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Concluding Thoughts

While blockchain and cryptocurrencies are inherently accessible globally, the speculative nature of digital assets brings them under various regional regulations.

In an often complex and volatile market, the role of crypto trading apps becomes doubly important. They not only introduce traditional investors to a high-performance asset class but also provide a less intimidating and more secure avenue to get involved in cryptocurrency trading.

However, when choosing a crypto trading app, it is crucial to understand their terms and how they handle and protect user funds—and keep in mind this content is designed for educational purposes rather than financial advice.

Investing in cryptocurrencies bears high risk, and you should be prepared for the possibility of losing the entire amount invested. Learn more about these risks here.

Copy Trading does not account for personal investment advice, and market values can fluctuate. Your capital is at risk.

Please note other fees are applicable.

A majority of retail investor accounts may lose money when trading CFDs. Consider if you can bear the high risk of losing money.

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