As interest in crypto trading continues to soar, traders tend to look out not just for the most trusted trading application to use but also one that is user-friendly with superb benefits.
In addition to equipping oneself with the right knowledge about crypto trading, it is also important to use a trading/exchange application that offers the majority if not all of the following qualities: ease of use, convenience, affordable fees, a superb user interface, and time-relevant trading instruments among others.
Also, private surveys over the years have shown that seasoned traders prefer trading on desktop computers, but the majority find mobile trading much more convenient. Thus, we have carefully curated the list of top 10 mobile applications to consider for crypto trading and exchange in 2022. Here we go!
10. Robinhood (NASDAQ:HOOD)
Dubbed the “commission-free stock trading and investing app,” Robinhood was launched originally as a traditional stock trading application; however, it has since evolved into a full-fledged investment application. Now, besides offering support for traditional investors, crypto traders can also access a dedicated marketplace for crypto trading.
Robinhood is a perfect fit for traders who like to simultaneously trade in traditional stock markets and crypto markets. Particularly, Robinhood offers a lot of benefits for crypto traders, some of which include zero trade or commission fees, asset-custodianship, and crime insurance against cybersecurity breaches, among others.
If you looking for an application that houses both the traditional stock market and crypto market under one roof with easy-to-navigate UI/UX, Robinhood is a perfect option for you.
If you are familiar with the crypto space, then you have probably come across Kraken one way or the other, either by reading their educational materials or by trading on their platform. Kraken is a Bitcoin and cryptocurrency exchange with access to various crypto trading instruments, including staking, liquidity pooling, indices, futures, OTC, and margin trading.
While it charges zero deposit fees for some crypto assets, the trading fee, on the other hand, ranges between 0% to 0.26% of the total cost of a transaction order. In comparison, this fee is more costly than the likes of Robinhood and a couple of other exchanges with zero trade and commission fees.
With over 1 million clients and 350 global institutions on board, BlockFi is arguably one of the biggest crypto trading platforms in the emerging crypto industry.
The platform, backed by some of the biggest names like Coinbase (NASDAQ:COIN) Ventures, Galaxy Digital, and Winklevoss Capital, boasts of best-in-class client service and support alongside top-tier protection measures to ensure users’ assets are safeguarded.
Some of its features include a dedicated cryptocurrency exchange where users can buy, sell, and earn from the platform’s extensive earning initiatives, such as the BlockFi partner program, referral program, and its most recent addition, the BlockFi Crypto Card. Particularly, users of crypto cards can get an unlimited 1.5% in the form of cryptocurrency as cash back on all transactions made using the card.
In addition, BlockFi offers a loan service where users can borrow at relatively discounted rates that are as low as 4.5% APR. Interestingly, unlike most collateralized lending protocols, users conveniently borrow funds against their crypto assets which they can continue to hold until the end of their repayment plan.
Finally, the platform can be easily utilized by users of any expertise level, thanks to the platform’s 24/7 client service support, which makes onboarding processes a lot easier.
Powered by iFinex incorporation, Bitfinex is dubbed the “home of digital asset trading” and focuses mainly on two categories of users: traders and lenders. In the same vein, Bitfinex features are tailored to serve these categories of users based on preference.
For instance, lenders mainly consist of liquidity providers, and borrowers can participate in staking activities or borrowing respectively. Traders, on the other hand, can access more advanced features such as the exchange market, margin trading, margin funding, which is similar to liquidity funding but for traders, and so much more.
In its drive to give users the ultimate cryptocurrency trading experience, Bitfinex provides state-of-the-art trading instruments, including those mentioned earlier, alongside an innovative technology that makes crypto trading hassle-free. Notably, Bitfinex facilitates a graphical trading experience with advanced charting functionality that allows traders to visualize orders, positions, and price alerts.
In addition, Bitfinex provides API solutions for corporate entities and developers who wish to integrate their own products on the platform. Lastly, Bitfinex’s native token – UNUS SED LEO- is designed to empower the Bitfinex community, who can leverage the digital currency to maximize the trading platform’s output and capabilities.
Based in Luxembourg, Bitstamp is one of the longest-standing crypto exchanges, having started back in 2011, barely two years after Bitcoin was launched. Then, Bitstamp essentially served as an exchange between fiat currencies and Bitcoin; however, it has since transitioned into a full-fledged crypto exchange where traders can access and swap up to 54 cryptocurrencies.
Although it has been around for more than a decade, Bitstamp is not as popular as the top three biggest exchanges today, which could be attributed to many factors, including limited tradable assets. Regardless, the platform boasts of proven reliability over the years, which still makes it pretty much time-relevant.
Bitstamp is not only known for its ability to stand the test of time but also for its mobile-friendly appeal, which is one of its major selling points, besides having institutional-grade security, which entails safeguarding assets online and encrypting personal data.
Another highlight of Bitstamp is that it renders professional services both for “institutions” who can enjoy enterprise-level access to the crypto market and “pro traders” who can also enjoy time-proven stability, inexhaustible liquidity, and industry-leading API connectivity.
Bitstamp also provides exclusive earning benefits to people who own and stake cryptocurrency on the platform. Specifically, stakers can increase their portfolio and get upward of 4.25% APR in staking rewards, depending on the asset they choose to invest in.
If you haven’t heard about social trading before now, then here is an opportunity to learn about it. eToro provides a platform where people can invest in assets as well as connect with people from all over the world. Imagine eToro as an Instagram but for trading; here, you can share trading strategies with fellow traders, copy other trading activities (i.e., those belonging to top investors), and so much more.
Interestingly, unlike most crypto trading exchanges on this list, eToro allows users to engage multiple asset classes, including cryptocurrencies, stocks, commodities, CFD, and fiat currencies, among other markets.
Other major highlights of eToro include the possibility for traders to stake in liquidity reserves, enjoy 0% commission on stocks with investment insurance, and participate in various investor programs.
Since its launch in 2017, Binance has quickly moved to the top spot among cryptocurrency exchanges, boasting the largest daily trading volume of over $76 billion in digital assets. In the same vein, the platform has the highest number of registered users, pegged at over 90 million, while providing access to over 600 tradable cryptocurrencies.
Besides its positive numbers, Binance is a top choice for mobile traders, thanks to its intuitive mobile application that has an option to switch between simple (Binance Lite) and complex (PRO trading) interfaces.
Also, not only can users trade crypto by leveraging different instruments, including margin, spot, futures, swapping, staking, and so on, but they can also explore a dedicated NFT market where they can mint, collect, and trade their favorite tokenized items.
Bybit is a crypto exchange platform established in 2018 and currently boasts more than 6 million registered users on the platform. The exchange is unique for various reasons, one of which is the multilingual community support that makes it a truly borderless exchange.
Not only does Bitby allow users to buy and trade crypto assets leveraging an ultra-fast matching engine, it also offers various earning programs to boost individual trader’s portfolios. Notably, there is “Bybit Savings” that promises to guarantee yields and withdrawal at any time; there are also “liquidity mining” and “DeFi mining” options for investors, among others.
2. FTX Exchange
Arguably the fastest-growing crypto exchange, FTX exchange, with a valuation surpassing $32 billion, is currently the second-largest exchange after Binance. Notably, the exchange-registered users have grown from merely 100K in 2019, its first year in the market, to now surpassing 6 million.
Besides crypto trading, FTX also offers users access to other advanced trade markets, including futures, stock, forex, and margin trading. Likewise, users can take advantage of the multiple earning programs available on the platform, such as the VIP and Ambassador programs, to name a few.
Additionally, FTX issues FTT, its native cryptocurrency, which offers holders several advantages. Part of the benefits of holding FTT includes increased referral rebate rates, bonus votes, free withdrawals, IEO tickets, increased airdrop rewards, and an overridden maker fee.
Ranked as the best mobile application for crypto exchange/trading by Investopedia and other reputable sites, Crypto.com surely deserves a position at the top of the list.
The crypto exchange, which currently boasts more than 50 million users, essentially offers two categories of services. The first, which doubles as a fundamental category, enables users to buy and sell crypto and NFTs and make payments using the app’s dedicated payment portal alongside its Visa (NYSE:V) card, which offers up to 5% cash back on all purchases.
In addition to the fundamental offerings, users can also grow their portfolios through the platform’s earning programs, which pay as much as 14.5% per annum on non-stable crypto assets and 10% on stablecoins.
On the other hand, the second product is designed purposely for advanced trading and encompasses features like the dedicated exchange market where users can trade across different financial instruments such as margin, derivatives, and more.
Also, on the advanced offering, Crypto.com has a built-in DeFi ecosystem where developers can access the platform’s next-generation public blockchain (crypto.org chain), browser extension, and other DeFi management tools. Lastly, crypto.com has a user interface that makes the onboarding process less daunting for users of any level of expertise.