Different Types Of Crypto Apps You Can Use

Different Types of Crypto Apps You can Use

by Niladri Bose — 2 years ago in Blockchain Technology 2 min. read

By some estimates, there are more than 100 million people around the world using cryptocurrencies. For a thing that never existed before 2009, it’s a remarkable result. Despite the exact number being unknown, the gist is there are many people exchanging, holding, or trying to get into crypto – and all of them need to have certain apps to do so.

Today we’ll be looking at apps that can enhance your experience, their types, and the best crypto app in each category.

Types of Crypto Applications

Whether you’re new to crypto or have amassed some experience, you’ll definitely need an exchange and a wallet app and will most likely benefit from having a portfolio tracker.

1. Cryptocurrency Exchange

This is a platform for buying and selling cryptocurrencies.

Since you can’t purchase crypto from a bank or investment firm, you need a specialized crypto trading platform to exchange a fiat currency for digital assets. All transactions happen online and are recorded on the blockchain network that issues the currency of your choice.

Changelly is an example of a reliable, high-rated exchange. There are tens of thousands of transactions made on a daily basis, with an average processing time of 10.2 minutes.
Also read: Top 10 Trending Technologies You should know about it for Future Days

2. Cryptocurrency Wallet

This is a platform for storing cryptocurrencies.

It’s a well-known recommendation that you shouldn’t leave your funds on crypto exchanges because they can’t guarantee the safety of assets. Crypto wallets are much better at protecting your assets with features like encryption, two-factor authentication, and other measures.

If you’re in the market for one, take a look at Exodus, perfect for people who have never dabbled with cryptocurrencies. Its developers spent a great deal of time and effort to make the app as intuitive as possible.

3. Portfolio Tracker

This is a platform for tracking the movement of crypto assets in your portfolio.

The value of cryptocurrencies is prone to sudden, sometimes drastic changes. Trackers help you be updated on your profits, losses, and portfolio valuation at any time.

One of the apps that offer advanced analytics and journaling tools is Coin Market Manager. Here, you can assess your trades and mistakes, strengths, patterns of behavior, and more.
Also read: Seamless AI Review: Features, Pricing, & Getting Started (2024 Guide)

What to Look for in a Crypto App

Below are several points that you need to assess before committing to any crypto app:

  • Security: Search what security measures the platform implements, whether it has ever been hacked, and what reputation it has.
  • Ease of use: The app should have the features that you understand and use and integrate them into an intuitive interface.
  • Range of supported currencies: You probably don’t need all cryptocurrencies on the app, but make sure there is some variety in case you want to venture into new territories.
  • Fees: Consider all the commissions, including small or hidden ones, like for deposits, withdrawals, trading, and maintenance.
  • Location: The app should be accessible in your country and comply with your local regulations.
  • Customer service: The team should be easy to contact in case there is a technical issue.

The crypto space offers an abundance of apps, but it’s your responsibility to vet them and make the right choice. You don’t need a lot of apps, but the ones you do need should meet the strictest criteria. Be responsible and take steps to secure your accounts!

Niladri Bose

Niladri Bose is a Goa Travel Expert with extensive experience in writing on Goa attractions and activities. He is a Post Graduate in Mass Communication and a former journalist. The founder of Digital-Success, Niladri specializes in professional writing and travel guides.

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