By michael vivar
Cryptocurrencies, or crypto, are digital, financial instruments that appeal to investors due to relatively light governmental regulation and strong encoding that gives it robust security.
Like stocks on a conventional market, there are various iterations. The most prevalent is Bitcoin. Others include Dogecoin and Ethereum. Experts can navigate currencies on the virtual floor.
Novices would do well to use tool-driven and ergonomic platforms for trading. Here are the seven best crypto apps for beginners.
This deals in derivatives which opens up complex instruments such as hedge and swap transactions. The platform isn't available in the United States so a VPN is required.
The platform features additional opportunities to lay money on NFTs beyond Bored Ape. Both inexperienced and deft investors should be aware NFTs are vulnerable to fraud.
Those who fly under the radar want this app which doesn't comply with banking KYC (Know Your Customer) regulations. Remember, KYC policies are also designed to protect investors.
Emulate the best crypto investors. BingX has a lagged portfolio of successful trades. The app doesn't observe compliance policies, subjecting it to potential government scrutiny.
The casual investor will like Bitget with its low fees and initial outlay of funds. Akin to traditional banks, the app implements proof-of-reserve and fund protections that ensure user safety.
Users who want multiple currencies should get MetaMask. It has the best crypto wallet component which allows investors to easily receive, send and trade with minimal exchange rates.
This is the most trusted crypto app with 210 million users. It maintains an in-house proprietary coin that reinforces confidence. The Binance Academy module offers tutorials.
"The value of crypto is just what some other person decides someone else will pay for it..." - Bill Gates, Microsoft founder and philanthropist