7 Best Crypto Apps for Beginners In 2023

Jay Crypto

Blogger

Cryptocurrencies have gained massive popularity in the last few years and with the growing interest of users, the market is flooded with different crypto apps. Beginners may have difficulty choosing an app that is right for their trading style and provides a seamless trading experience.

While looking for the best crypto app for trading, users have to consider many factors such as cryptocurrencies supported, transaction fees, ease of use, compliance with rules and regulations and other additional features. Cryptocurrencies are highly volatile assets and one small trading mistake can result in substantial financial losses, but having the right trading app can surely increase the likelihood of making a fortune in the ever-changing crypto market.

Best crypto apps for beginners

Let's dive into the best crypto apps for beginners in 2023 and discover the features that set them apart.

I. Binance

Launched in 2017, Binance is the largest crypto exchange in the world in terms of trading volume and assets under management. low trading fees. A generously wide range of leverage and high liquidity are some of the key features that make it the favorite choice of users.

You can start trading on Binance as soon as you have deposited $10 in your wallet. It allows you to buy using a Credit/Debit Card or PayPal and supports Fiat Deposit in popular currencies like USD, EUR, AUD, UGX, PEN, HKD, UAH, KZT, TRY, and RUB. The notable limitation of Binane is that it doesn’t offer its services in the US.

II. ZenGo

ZenGo is a self-custodial cryptocurrency trading app and wallet: users have full ownership and control over their crypto assets. It is probably the best crypto trading app suitable for beginners and supports over 70 different crypto assets including Bitcoin, Ethereum, Tether, and Binance Coin. Users can create a free account on this platform and it is totally free to use.

Besides trading, ZenGo also provides staking features. Users can earn staking rewards by locking up their crypto assets for a specific period of time. For example, users can stake USDC, USDT and TUSD and enjoy an 8% yield on these assets. The ZenGo app can be downloaded for free for both Android and iPhone users, and its customer support team is always available to assist users with any queries. This platform's only drawback is that it supports the trading of only 70 cryptocurrencies, which is very low given the size of the cryptocurrency market.

III. YieldFlow

For users looking to maximize their cryptocurrency investments through staking, lending, and yield farming, YieldFlow is the preferred crypto trading app. It is also suitable and the top choice of beginners for its ease of use and friendly interphase.

Using lending features, users can lend their idle crypto assets to borrowers to gain interest. All the lending and borrowing process is carried out through decentralized exchanges and all the transactions are governed by smart contracts. YieldFlow is also recognized as one of the top staking platforms, offering attractive annual percentage yields (APY). Users can earn 5.5% APY by staking Polygon and 6.2% APY by staking Aave. Additionally, users have the opportunity to engage in yield farming, where they can lock their cryptocurrency tokens for a specific duration to receive rewards for their participation.

IV. Skilling

The next on the list is Skilling, a beginner's friendly platform that makes crypto trading accessible for everyone. Skilling is very portable and you can access it from your mobile or desktop browser. It allows the trading of 55 different cryptocurrencies and provides a secure trading environment.

Additionally, Skilling gives users access to real-time market data, charts, and analysis tools to help them in making educated trading decisions. Skilling complies with all legal requirements and has a valid license.

V. Pionex

Pionex is a cryptocurrency exchange platform that is designed to provide users with automated trading solutions. It offers a variety of advanced trading bots that execute trades on behalf of users with the help of predefined strategies and algorithms.

Pionex is equipped with advanced trading features such as stop loss and trailing sell. Using stop loss, users can set selling and buying prices in advance according to market conditions to avoid losses. The trailing sell feature prevents users from selling too early after detecting favorable trading conditions in the future. There is no minimum set limit for holding cryptocurrencies to start trading and users can start trading as soon as they have $1. Pionex facilitates the trading of 250+ cryptocurrencies. However, Pionex has no demo account to help new traders practice crypto trading.

VI. eToro

eToro is a popular social trading platform that provides users the ability to trade a wide range of financial instruments, including cryptocurrencies, stocks, commodities, and more. The platform is beginner-friendly with plenty of learning resources and users are also provided with a $100,000 virtual account for trading practice.

One of the key features of eToro is the option to copy the trades of popular and successful traders, known as copy trading. It also follows all the regulatory requirements and is supervised by both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States.

VII. Kraken

Kraken is one of the most popular crypto exchanges in the world with a user-friendly interphase that simplifies the staking process. Accessibility, safety, and competitive pricing are some of the features that make this platform one of the top choices for experienced as well as new traders.

Kraken is also known for its strong regulatory compliance, following all the legal requirements and operating under proper licensing. The exchange provides 24/7 customer support and has great educational resources for newbies to learn crypto trading. The major limitations of this platform include high fees and the unavailability of services in the US.

Conclusion

The crypto world is flooded with crypto exchanges, and you should choose the one that offers the features you are looking for. Every crypto exchange has its fair share of advantages and shortcomings. Users should keep both in mind while choosing one.