The Best Crypto Trading Apps for Beginners

In little over a decade of their existence, cryptocurrencies have made their mark on the financial landscape. 

Fast and secure, digital coins and tokens offer a better alternative to users—from investment and trading to paying for products and services.

There are many cryptocurrency apps created today that serve a variety of purposes, but the sheer number in existence can confound a person in selecting the right one. 

Your worries are over as this guide will list some of the best cryptocurrency trading apps in 2023, inspecting each for their benefits and features. 

The Best Crypto Trading Apps for Beginners

Here are our top 8 Crypto Trading Apps:

• Binance
• eToro
• Coinbase
• ZenGo
• Kraken
• Crypto.com
• Gemini
• Pionex

Binance

Binance has established itself as the best crypto exchange. It offers various order types such as limit order, stop order, stop-limit order, trailing stop order, and stop-market order.

With over 600 cryptocurrencies listed, Binance is one of the best crypto apps for trading altcoins. The sheer number and variety of coins mean that Binance stands out from its competitors when it comes to finding new and obscure cryptocurrencies. It might just be the best crypto trading app that allows you to create a diverse portfolio all in one place. 

With Binance, domestic banks and Automated Clearing House (ACH) offer wire transfers without any fees. There is a convert feature that makes it easy for the uninitiated to swap, buy and sell digital currencies. There are plenty of opportunities to turn your crypto into more crypto in the Earn section of the app.

Furthermore, Binance has crypto derivatives such as options, spot markets, staking, and futures. It offers users low trading commissions, especially those holding BNB tokens. 

Binance Pros:

• 600+ coins
• Guides and information resources in Binance Academy
• Debit card available
• NFT marketplace
• Staking services and savings
• Token launch platform
• Advanced tools for trading
• Low transaction fees
• 24/7 chat support

Binance Cons:

• May be a bit technical for absolute beginners.
• Faces regulatory hurdles in some jurisdictions.

eToro

eToro ranks as the best cryptocurrency app thanks to the range and quality of services it provides. It’s a great place to start a crypto portfolio as you can find out about trending coins and the biggest daily movers in the “Discover” tab—and add any that interest you to your watchlist.

The clear layout and intuitive user-friendly experience make eToro a great place for beginners, while the rich feature set and technical analysis tools mean advanced users can benefit as well. The platform makes it easy to trade more than 60 of the top cryptocurrencies.

What really makes eToro unique among crypto apps, however, is the innovative CopyTrader feature. This is a great tool for newbies and those who want to improve their capital efficiency as it lets you automatically replicate the trades of the most successful traders around the world.

You can browse the top traders and view stats on them such as risk tolerance and percentage return to decide who to copy. What’s more, eToro is a social investing community, meaning users can connect with other traders to learn, share experiences, and access collective wisdom. 

eToro Pros:

• Trade over 60 of the most popular digital 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

eToro Cons:

• Unavailable in a number of countries
• Not as many cryptocurrencies as some crypto exchanges

Coinbase

Coinbase is one of the simplest crypto apps to use, making it the ideal place to start your crypto journey if you’re a beginner. The layout is very clear and intuitive to navigate, so you can easily buy or sell more than 150 coins with a couple of clicks. Crypto enthusiasts are also catered for as the Coinbase Pro platform provides advanced tools and indicators.

You can easily view and manage your portfolio on your dashboard. What’s more, you can set up regular automatic purchases with the recurring buys feature, providing a simple way for users to implement a dollar-cost averaging strategy.

If you want to develop a better understanding of the world of crypto, Coinbase provides tips, tutorials, and a range of educational articles. You can even earn free crypto in the process with Coinbase’s regular learn and earn campaigns.

Other features Coinbase provides include a self-custody wallet, an NFT marketplace, crypto-collateralised loans, and the Coinbase Card for spending crypto while earning rewards.

Coinbase employs industry-best practices and secure offline storage to keep assets safe. It also protects users’ funds with crypto insurance and FDIC insurance.

Coinbase Pros:

• 100+ countries supported
• Low trading fees
• User-friendly for beginners
• Staking services and other features are available
• Earn crypto for nothing through learning campaigns
• Secure offline storage
• High-quality educational resources

Coinbase Cons:

• Not as many digital currencies as some competitors
• Fees can be high using card payments

ZenGo

ZenGo is a noncustodial mobile crypto trading app with innovative security measures. The app enables you to track your portfolios, access crypto holdings, and earn daily interest rewards.

ZenGo approves buying crypto using Apple Pay or a credit card. You can also earn interest on crypto holdings by lending to a decentralized liquidity pool and staking your assets.

This crypto app has keyless software with facial recognition capability to advance coin security. So it divides the user’s private key into two sections and distributes its storage to prevent the wallet from being hacked. 

ZenGo pros

• ZenGo crypto trading application is easy to set up and navigate
• The 3FA security ensures the app is safe for use. 
• It offers rewards and Bitcoin bonuses whenever a user signs up for a savings account.
• The customer service is responsive at any time of the day.

ZenGo cons:

• New traders can find it hard to understand keyless technology.
• The user has to back up their account since the private key is stored on Google Drive and iCloud.

Kraken

Kraken is one of the world’s most established cryptocurrency exchanges, now having expanded services to Canada and the United States. The exchange is a great choice for North Americans looking for a compliant platform with access to leverage trading products.

The firm currently offers up to 5x leverage on spot transactions. For example, that means you may purchase $5000 worth of BTC using just $1000 of USD collateral.

Kraken has a smaller selection of just 65 crypto available for trade on its platform, though that includes the most popular names like Bitcoin and Ethereum. It also offers trading on some of the best DeFi coins.

Notably, the exchange is compatible with popular layer-2 scaling solutions for each blockchain, namely the lightning network and Polygon respectively. Each allows users to conduct instant and virtually free withdrawals from the platform, skipping out on the often burdensome network fees of ordinary transfers.

The exchange offers 24/7 customer support, and a slew of educational materials to get newbies immersed with the space. It was also one of the first exchanges to popularize the proof of reserves audit system, using the transparency of blockchain to verify that all user assets are secured and untampered with at the exchange.

Kraken Pros

• Instant and nearly free withdrawals
• 24/7 customer support
• Offers proof of its reserves
• Great educational resources

Kraken Cons

• Limited selection of cryptocurrencies available

Crypto.com

Crypto.com is one of the fast-growing global crypto and altcoin exchanges. It offers an ecosystem of yield-generating products, a Crypto.org Chain. Its blockchain and a utility token called Cronos (CRO) help crypto traders to increase savings account yield and reduce the trading commissions.

Crypto.com allows for active swapping on the spot market. The exchange also lets you use a Visa or MasterCard to easily convert any crypto to cash. Getting started with Crypto.com requires you to download the app, sign up for an account and go through a Know Your Customer (KYC) procedure. 

Crypto.com Pros

• It is secure and convenient for trading and tracking cryptocurrencies.
• The app lets you contact customer care via email or live chat.
• You can begin to trade immediately and qualify for a commission.
• Trading cryptocurrencies is fast and can go through in minutes.

Crypto.com cons

• Customers find the trading fees relatively high.

Gemini

Gemini is an all-in-one cryptocurrency app used by beginners, large Investors and seasoned traders to buy, sell and store cryptos. It is approved by Federal Deposit Insurance Corporation (FDIC) for USD transactions. Built for advanced traders, Gemini offers major crypto like Bitcoin and Ethereum to minor altcoins like 0x and Orchid.

The exchange acts as custody for large crypto groups and institutions. It encourages active trading, promoting auctions, multiple order types, and block trading. Gemini owns a non-fungible token (NFTs) marketplace where clients can store, sell, and buy NFTs on the blockchain. You can store tokens on insured hot wallets, save crypto and earn up to 7% interest.

Gemini pros

• It has 5-minute cryptocurrency guides to help new users get started.
• Contacting the customer service team is easy.
• The signup process is easy and quick, taking less than 5 minutes.
• The web and mobile app interface have a simple layout that is easy to navigate.

Gemini cons

• It charges a high convenience and commission fee for traders.

Pionex

Pionex is an auto-trading platform equipped with 16 free in-built trading bots. The bots streamline the trading process and make the site an all-in-one solution for crypto exchange. Subsequently, Pionex has a Money Services Business (MSB) licensePionex granted FinCEN.

The exchange platform provides a trading domain for mobile and high-volume investors. Furthermore, it is one of the biggest brokers that aggregates liquidity with lower prices on Platforms like Huobi and Binance.

Pionex pros

• Pionex offers transactions with low trading fees.
• It has a live chat and email customer support that is reliable.
• You can access tutorials to learn how to use the trading bots.
• The interface is customizable and user-friendly

Pionex cons

• Pionex has no demo account to help new traders practice crypto exchange.

Conclusion

Trading digital currencies is an alternative method to generate passive income from home. Most people trade cryptocurrencies on their mobile applications because it enables them to change while on the go. When selecting the ideal cryptocurrency trading app, consider the fees, spreads, supported deposit methods, and liquidity.