These Are The 4 Best Crypto Trading Apps On Android

Crypto trading apps on Android are simpler to use. (photo: makeuseof)

JAKARTA - The explosion of cryptocurrencies is getting bigger and bigger. People are now realizing that cryptocurrencies are more than just a trend. Many places are now starting to accept Bitcoin and Ethereum as valid payment methods for goods or services.

Cryptocurrency mining and trading are some of the most popular investments in 2021, and chances are you even have a good crypto portfolio for yourself.

If you are dedicated to trading cryptocurrencies and tracking your crypto assets, you should have access to a reliable and robust cryptocurrency trading app on the go. Read on as we take a look at the best cryptocurrency apps for Android.

Ideally, the best cryptocurrency app should have a wide variety of currencies available that you can buy, with low transaction fees and excellent security features that keep your assets safe. There are over 2,000 cryptocurrencies listed, but few are available for trading on even the most popular crypto exchange platforms.

If you are only planning to trade in cryptocurrencies such as Bitcoin or Ethereum, then you should not consider altcoin support while considering a suitable cryptocurrency application.

Crypto Apps on Android

If you are going to be trading from Android apps on a regular basis, then it is very important that the apps have low and decent transaction fees. It is also important that the platform is available as a desktop or web application.

Often, cryptocurrency applications are not permitted to operate in some areas, so you must make sure that the cryptocurrency application you choose operates legally in your country. A well-designed easy-to-use interface is also essential in any crypto trading application.

Let's take a look at the best cryptocurrency apps for Android.

1. eToro

eToro is an excellent all-in-one cryptocurrency app that is trusted by millions of Android crypto traders worldwide. Buying and selling on eToro is relatively easy, and you retain full ownership of your assets. The most important feature of eToro is its extremely low transaction fees.

The platform does not charge you any commission when buying cryptocurrencies or when depositing funds into your account. However, you will pay a small 0.5% currency conversion fee for non-USD deposits. You can withdraw and withdraw funds to your bank account by paying 5 dollars per withdrawal.

However, the platform does not allow you to withdraw your crypto assets to a private wallet, so your assets will remain in eToro until you cash out. The Android app is well designed with a minimalistic user interface that is easy to use.

eToro only offers a few popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple. If you want to trade altcoins, make sure they are available on the eToro platform before signing up.

Overall, eToro is a fantastic cryptocurrency trading app that is well regulated and offers very low trading fees.

2. Binance

Binance is one of the world's largest cryptocurrency trading platforms for Bitcoin and altcoins. It supports over 200 cryptocurrencies and is very well regulated.

If you have just started trading cryptocurrencies, then we highly recommend signing up on Binance for its very user-friendly platform and helpful tutorials. Beginners can use the light mode of the mobile app to help start their "moon trip".

Another significant benefit of trading on Binance is the multiple deposit options such as bank deposits, credit or debit cards, Peer-2-Peer trading, and even crypto deposits.

Flexibility allows investors to add funds to their accounts through different methods. This is especially useful in countries where credit/debit cards are not supported on Binance. You can leverage Peer-to-Peer to trade crypto directly with other businesses or users.

Binance does not charge a fee when you deposit funds into your account, but the withdrawal fee is automatically adjusted depending on the market status. Trading fees on Binance are very low and depend on your associated level. Also, if you use Binance's native BNB coin, you can get lower trading fees.

3. Coinbase

Coinbase is probably the most popular cryptocurrency trading platform in the world. It has fewer altcoins compared to Binance, but supports all major coins. It also offers tutorials for beginners that can help you understand the basics of crypto trading.

A significant drawback of Coinbase is its very high transaction fees compared to competitors like eToro or Binance.

Transaction fees can be very confusing to understand. If you choose Coinbase Pro, you will pay lower transaction fees and have a direct pricing model that depends on your asset liquidity and monthly trading volume. However, the interface for Coinbase Pro can be a bit overwhelming if you're just starting to trade crypto.

The Coinbase app has a phenomenal user interface that is modern and easy to use. It shows you the overall market winners and losers quickly and keeps you updated with important crypto updates.

Coinbase is the largest cryptocurrency exchange in the US, but high trading fees can be a problem if you don't use Coinbase Pro.

4. Kraken

Founded in 2011, Kraken offers a wide range of cryptocurrencies available with the best security, making it an excellent crypto exchange for both beginners and experienced traders. The platform takes security to a whole new level. 95% of deposits are stored offline worldwide, with the platform's servers also tightly secured.

Kraken offers low trading fees depending on whether you are a buyer or a seller. Low volume traders pay a maker fee of around 0.16% and a taker fee of 0.26%. But using the Instant Purchase feature may incur an additional 1.5% charge for sales, purchases, or order conversions. Kraken offers significantly lower transaction fees when compared to Coinbase.

Kraken provides more than 50 cryptocurrencies for users to experiment with. Bitcoin, Ethereum, Cardano, Flow and more are readily available for trading.

The Kraken Android app has a very modern and intuitive design. You can quickly check your portfolio and market prices, and can even get the latest news and updates on each cryptocurrency.

Best Cryptocurrency Apps for Android

There is no denying that cryptocurrencies are the future, and with the right cryptocurrency app on your side, you will be able to make better informed decisions. Binance and eToro are excellent cryptocurrency platforms that keep your assets safe and require low commission fees, while also providing a comprehensive mobile app.

Make sure you understand the cryptocurrency risks before starting, and invest wisely.