An Overview of the Best Bitcoin Exchange Apps
Having access to a Bitcoin exchange right on your phone is a big advantage. Mobile apps are convenient to use and make trading quicker and easier. Plus, you can buy Bitcoin on the go – not bad, right? Unfortunately, not all crypto exchange apps are reliable and functional. Some are not secure, and others are glitchy. Here is a list of Bitcoin exchange apps worth recommending to fellow crypto enthusiasts.
CEX.IO has a mobile application with the versions for both Android and iOS. The nice thing about CEX.IO is that you can buy Bitcoin with your credit/debit card right from your app. After all, using a VISA card is a lot faster than using a bank transfer.
The interface is well-designed. It isn’t cluttered or hard to navigate. This makes it ideal for amateur investors who want a place to start trading with little fuss. Once you go through the verification process, you can link your credit card and start trading Bitcoin instantly.
One thing to keep in mind is that CEX.IO has a rather limited selection of altcoins. So check the list of coins first, they are all presented on the main page – https://cex.io/. However, if you are just interested in trading Bitcoin, this is a non-issue. With the mobile app, you will be able to make deposits and withdrawals, check your balance, buy or sell Bitcoin and more. You can also use the app to compare exchanges, which is a definite plus.
- an instant purchase option for any cryptocurrency supported
- payment with a credit card is allowed
- graphical representation of data for all trading pairs
- easy management of orders and trades
Binance is a cryptocurrency exchange that has emerged in the industry only recently. Regardless of being young, it has earned the reputation of a trustworthy trading platform. Part of the company’s success comes from its mobile application, which supports both Android and iOS. Binance is great not only for trading Bitcoin but also a wide range of altcoins – even less popular ones. However, the drawback here lies in the fact that Binance is suitable only for cryptocurrency trading and it doesn’t support fiat transactions.
The unique thing about Binance is that it has its own token called BNB. If you use the BNB tokens to trade, you get a discount on the exchange fees. For this reason, Binance is ideal for users who intend to do frequent trading.
The Binance app has tons of features that enhance the user experience, including managing your trades and watching the market on the move. Transactions are fast and can be done worldwide.
- the latest statistics on active markets (i.e. trading pairs, last price, daily changes)
- ability to place both limit and market orders
- deposits and withdrawals are allowed
- 24/7 customer support
Bitfinex has one of the most intuitive designs for a mobile exchange app. Essentially, it consists of two sections – Funding and Trading, which can be customized by the user. In addition to Bitcoin and Ethereum as the frequently traded digital tokens, there are others as well. In fact, the list of cryptocurrencies you have to choose from is longer than most other exchange apps can offer. Thus, this is a good choice if you are also interested in trading altcoins against fiat.
The best aspect of Bitfinex is that the exchange has a high level of liquidity it is able to maintain. With other exchanges, it might take a while to purchase Bitcoin in bulk, but this is not the case with Bitfinex.
The biggest drawback, however, is that Bitfinex has shut down its service to the US customers. So, if you are in the US, you might be out of luck and should try other exchanges.
- margin trading is allowed
- easy management of orders and positions
- multiple order types are supported
- biometric identification
This list wouldn’t be complete without Coinbase, the pioneer Bitcoin exchange with around 20 million users. What’s special about the Coinbase app is that it offers not only buying or selling cryptocurrency, but also storing it in a secure wallet at no cost. Coinbase supports fewer coins than other exchanges reviewed here. In fact, there are Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, and Litecoin at your disposal. The app is similar to CEX.IO’s, as it also allows users to link their bank account or credit card within it. The focus of the Coinbase app is providing users with convenient access to digital assets and their management.
However, there are a few drawbacks as well. Coinbase is available in 33 countries only, and unlike the above-mentioned exchanges, it doesn’t provide trading functionality.
- buying/selling with a credit card
- cryptocurrency price charts tracking and alerts setting
- sending and receiving cryptocurrency instantly
Mobile exchange apps are becoming better with each day. While many of these apps have a ton of issues, such as freezing and shutting off unexpectedly, some deliver a phenomenal user experience and are a lot more convenient than trading on a desktop computer.
By Mary Ann Callahan