Cryptocurrencies are a 24/7 market traded by thousands of people worldwide on a daily basis. With the ever-changing nature of the market, many people enjoy trading digital currencies like Bitcoin on their mobile or tablet. In this guide, we’ll be taking a look at the best Cryptocurrency exchange apps for crypto trading. All of the exchanges listed below offer mobile apps for mobile crypto trading on IOS & Android (Google Play) devices. After showing you the best cryptocurrency trading apps, I’ll be diving deeper into crypto mobile trading – answering some of the most frequently answered questions/topics.
Top 27 Best Cryptocurrency Trading Apps 2020
So, let’s look into mobile crypto trading in a bit more detail.
Why use a Cryptocurrency Exchange App?
You may be wondering why you should be using an exchange app to trade cryptocurrencies on – and that’s perfectly justified since most people usually trade on a desktop or laptop, but that being said, there are several extremely valid reasons why you should use a crypto trading app. You should consider trading on an exchange app for these reasons:
- Trade on-the-go: You don’t have to be at home or have a surface to be able to trade, with a mobile crypto trading app, you can trade pretty much anywhere, which lets you capitalise on opportunities in the market
- Get alerts: Most crypto trading apps let you set alerts which can push notifications directly to your device so that you can know instantly when prices move
- Monitor trades better: To monitor your trades using a desktop or laptop computer can be difficult, whereas with cryptocurrency exchange apps, you can always keep track of how your trade is going and make amendments if and where necessary
What makes a good Crypto Trading App?
When we performed our tests to find the best crypto exchange apps, there were several factors which we looked out for. In this section of our mobile crypto trading guide, I will be showing you exactly what we think makes a good crypto exchange app.
The security of your crypto trading funds is paramount when looking at which app to trade on. Some of the things we check for in regards to the security of a crypto exchange app is 2FA (Google Auth Support), separate app passwords (e.g Pattern Lock) and how the exchange stores your funds (Cold or Hot Wallets?).
Trading fees vary exchange to exchange and finding one which offers competitive fees can be tricky. An average trading fee for crypto exchanges is between 0.05%-0.2% per trade depending on the type of exchange. Also, a good crypto exchange app doesn’t charge for deposits and withdrawals – but that is rare, we only know of one which is FTX.
Ease of Use
We all love a good user-experience when it comes to doing anything online. Trading cryptos is no different. An ideal cryptocurrency exchange app has a good, clear UI which is well designed and quick. If the exchange app is slow and looks awful, it can distract from your trading activities.
Of course, what you can do on the crypto trading app is also very important. Most apps let you trade, manage account balances (deposit & withdraw) among the other main features of the exchanges’ web platform – but some are quite limited. A good exchange app balances the need of functionality well with speed and design.
The liquidity of an exchange is how easy it is to fill orders at your desired price. It’s a measure of how many people trade crypto on the exchange. You should always look for exchanges with high liquidity – but beware, there are a lot of exchanges which lie about their volumes, this is why you should only use trusted crypto trading apps such as those listed above.
Naturally, you want to find an exchange app which is available to users in your country and jurisdiction. Due to the decentralised nature of digital currencies, most crypto exchange apps are available worldwide, however, there are some apps which are restricted to specific countries.
Different Types of Crypto Exchange Apps
Not all crypto trading apps are the same. Even though crypto trading seems pretty simple, there are different ways in which you can trade it. Some are for buying and selling cryptocurrencies with credit/debit cards, some are for trading altcoins and others are for trading crypto coins with leverage (margin trading).
Altcoin Trading Apps
For trading Altcoins (cryptocurrencies other than Bitcoin), you should download an Altcoin trading app. These apps let you trade/swap coins for each other. Some of the most popular altcoin trading apps are Binance, Crypto.com & Bitfinex.
Crypto Leverage Trading Apps
The final main type of crypto exchange apps is those which offer margin trading (leverage). Apps like these are for trading cryptocurrencies with leverage – which gives you the opportunity to increase profits through borrowing funds. On the other hand, it is also considered a more risky form of crypto trading as you can lose high amounts if you do not take care when trading. Our favourite Crypto/Bitcoin leverage trading apps are BTCMEX, Bybit & StormGain.
To conclude, mobile crypto trading can provide you with opportunities you wouldn’t usually get when trading on a desktop computer or laptop. In fact, some people ONLY trade on apps as most of the time, you can do everything you would normally do on an exchange. Enjoy trading cryptos and remember – stay safe!