Investing in cryptocurrencies for beginners is easier than ever. Whether you want to invest in cryptocurrencies, speculate on price movements, or enter the cryptocurrency market with fully diversified portfolios, there are plenty of cryptocurrency platforms and apps for beginners available at the click of a button.
In this guide to cryptocurrency platforms and applications for beginners, we discuss everything you need to know to help you invest in cryptocurrencies like a pro. We'll go over all the key metrics, from trading strategies and their associated investment risks to typical fees and the best exchanges to invest in cryptocurrencies from the comfort of your own home.
List of best cryptocurrency platforms and apps for beginners
Below you will find a quick overview of the best cryptocurrency platforms and apps. You can scroll down to read our comprehensive reviews of each provider and why we think you should consider these platforms as a beginner in the world of cryptocurrency investing .
✔ eToro - overall best platform for cryptocurrency trading
✔ Coinbase - great cryptocurrency platform for beginners
✔ Binance - Best bitcoin platform for low commissions
✔ Crypto.com - Multifunctional cryptocurrency platform
The best cryptocurrency platforms and apps for beginners - Full reviews
When choosing the best crypto platform or apps - the first thing you need to pay attention to is whether the provider is regulated or not. Next, check which cryptocurrency markets are supported, what fees and commissions apply, and what forms of deposits and withdrawals are offered.
We've done the hardest part of the job for you, reviewing the best cryptocurrency platforms and applications available on the market today.
1. eToro - overall the best platform and application for cryptocurrency trading
Our team has found that eToro is the best platform and at the same time cryptocurrency application for beginners - not only in Poland, but all over the world. As a client from Poland, you are well taken care of by eToro in terms of security.
For example, the brokerage side is regulated by the SEC and approved by the FINRA. To add even more credibility to this platform, eToro is also licensed by ASIC, CySEC and the FCA. As for what you can trade, eToro offers more than 30 cryptocurrency markets.
In addition to Bitcoin, this includes currencies such as EOS, Ethereum, XRP, Dogecoin, AAVE, Litecoin, Cardano and others. When you trade Bitcoin with this highly rated broker, you can do so with a minimum stake of just $10.
This is because eToro supports fractional investments. As for transaction fees, you will only have to cover the spread. In the case of Bitcoin trading, it is only 0.75%. As a result, eToro is not only one of the safest cryptocurrency trading platforms and applications in the online space, but it is also one of the most competitive in terms of fees.
Another important benefit of choosing eToro as a cryptocurrency trading platform and application is that the broker allows you to deposit funds in 14 different currencies including PLN,USD,EUR,GBP and others . This can be payment by debit or credit card, ACH transfer or online banking.
Anyway, eToro is one of the only cryptocurrency platforms and apps for beginners that offers deposits without fees. Moreover, the minimum first deposit is only the equivalent of $10 - so you can try out the platform without having to deposit too much capital. eToro also offers a free demo account - which is great for testing the broker in a risk-free way.
If you want to trade cryptocurrencies, but do not have much experience in technical or fundamental analysis, you may be interested in the eToro tool Copy Trading. Simply put, it allows you to choose from thousands of eToro traders and then "copy" the trader whose appearance you like.
In other words, everything an investor buys and sells will also be reflected in your own portfolio. There is also a CryptoPortoflio feature that allows diversified investment in more than 12 digital tokens with a single transaction.
If you want to trade cryptocurrencies on your cell phone - eToro also offers its own mobile app. This highly rated app, available on both iOS and Android devices, gives you full access to your main trading account.
This allows you to check the value of your investments, place buy and sell orders, and make deposits and withdrawals. eToro is particularly well-liked by novice investors, not least because both the main website and the mobile app are extremely easy to use.
Advantages of the platform
✔ Invest in cryptocurrencies on a spread-only basis
✔ Minimum investment in one transaction from the equivalent of $10
✔ Support for debit/credit cards, e-wallets and local bank transfers
✔ Registered with FINRA/SEC and regulated by FCA, CySEC and ASIC
✔ Used by more than 20 million people
✔ Ideal for beginners
✔ Social tools and copy trading
2. Coinbase - a great cryptocurrency platform and app for beginners
Although eToro is the best platform for beginners, Coinbase is also worth mentioning. Like eToro, this broker is popular with those who have little or no experience in buying and selling cryptocurrencies. Coinbase's main website allows you to purchase bitcoin using a debit or credit card - which is ideal for those who want to invest for the long term. This is because you can leave your BTC tokens in Coinbase's online wallet until you decide to withdraw cash.
Now, although Coinbase is great for easily buying Bitcoin, you will be charged a transaction fee of 3.99% if you use a Visa or MasterCard. You can deposit funds using ACH for free, but you will then be charged a standard trading commission of 1.49% on each buy and sell order. In addition, consider the spread charged by Coinbase - which can exceed 2% - even in busy market conditions. Considering all the aforementioned fees, Coinbase is quite expensive.
On the other hand, you can also consider using Coinbase Pro. This is part of the main Coinbase platform and focuses on short-term trading. Coinbase Pro not only gives you access to more supported cryptocurrencies and markets, but the trading fees are also lower.
For example, novice traders will pay a commission of 0.50% per slide. If you trade more than $10k per month, this fee will be further reduced. Finally, Coinbase is sufficiently regulated and offers security for your funds on an institutional level.
Advantages of the platform
✔ One of the most popular cryptocurrency apps
✔ More than 68 million users
✔ Supports instant debit card purchases
✔ Dozens of digital currencies to choose from
✔ Security at the institutional level
3. Binance - the best cryptocurrency platform and app with low commissions
Binance is another platform that is hugely popular with traders around the world. Globally, Binance is the largest exchange in terms of trading volume. In fact, the platform regularly hosts daily volumes exceeding $50 billion. This guarantees that Binance is home to tremendous liquidity - even on less liquid pairs. As for why you should choose Binance as your preferred cryptocurrency trading platform, the exchange offers a few key benefits.
First and foremost, Binance charges a commission of only 0.10% . This is regardless of what cryptocurrency you are trading. The exchange allows you to reduce the commission even more if you have a minimum number of BNB - the cryptocurrency on which Binance is based. Debit and credit card deposits are also reasonably priced, with Binance charging just 0.50%. However, this is still more expensive than eToro, which charges nothing for deposits.
As for supported markets, you can instantly buy Bitcoin and more than 50 other cryptocurrencies with your Visa or Mastercard. Alternatively, if you want to engage in short-term trading, you will find even more markets. For example, you can trade Bitcoin against the U.S. dollar or other digital tokens such as Ethereum, Uniswap, VeChain, Litecoin and Cardano. Binance It also offers many technical indicators and charting tools, making the platform ideal for those who want to conduct in-depth analysis.
Advantages of the platform
✔ Daily trading volume is in the billions of dollars
✔ Support for hundreds of pairs of digital assets
✔ Nearly instant deposits via debit/credit card
✔ Transaction commission starts at just 0.1%
✔ Offers cryptocurrency savings accounts
✔ Ideal for both beginners and experienced traders
How to choose the best cryptocurrency platform or app for beginners
Now that you've read our reviews on the best cryptocurrency platforms and apps for beginners - it's time to do a little more analysis to make sure you choose the right broker for you.
This can be a simple process once you know what indicators to look out for. To help, we discuss these basic factors below, so you can confidently choose the best platform and applications for your investment goals.
Regulation and safety
There is no doubt that the security of your capital is the most important thing to consider when looking for the best cryptocurrency platform or application. This can be evaluated in several different ways, such as:
Adjustment: The best cryptocurrency trading sites will be regulated by a reputable financial authority. For example, eToro is regulated by the SEC and approved by FINRA. This means that users can buy, sell and trade cryptocurrencies safely.
KYC: That is, " know your customer" Brokers who are regulated and approved , will have to verify your identity before you can access their trading services. This is as simple as sending a copy of your government-issued ID.
Storage: You also need to assess how secure your cryptocurrencies are stored on your chosen cryptocurrency platform or app. The best providers in the field will store most of their clients' funds in cold storage - making it virtually impossible for hackers to break into the platform's servers.
Ultimately, even if you find a platform that offers very low fees and support for your preferred markets - the provider should be avoided if it does not meet the above security criteria.
Cryptocurrency Markets
There are many ways to trade Bitcoin and other cryptocurrencies - so you should think about this before opening an account on a new platform. For example, if you want to invest in Bitcoin for many months or years, you will want to choose a broker that allows you to buy BTC tokens directly for zlotys or the currency you are interested in.
Ethoro markets
On the other hand, if you are more of a short-term trader, you may want to have access to more flexible markets. For example, many of the brokers discussed today also allow Bitcoin trading with other alternative digital tokens - such as Ethereum, XRP or Dogecoin.
Either way, make sure the platform you choose offers the specific bitcoin markets you are interested in.
Demo account
The best cryptocurrency platforms and apps for beginners offer a free demo account that mimics live market conditions. For example, as soon as you open an account with eToro, you can take advantage of the platform's demo capabilities, which come preloaded with $100,000 in paper funds.
Passive investing
If you are relatively new to the world of cryptocurrencies, it may make sense to choose a platform that offers a opportunity for passive income. In short, we found that the best platform for this is eToro - which allows you to trade cryptocurrencies without doing any research or placing orders.
First, you have the Copy Trading tool at your disposal. As we briefly discussed earlier, it allows you to copy an experienced Bitcoin trader in a similar fashion. The trader you choose will buy and sell cryptocurrencies on the platform eToro with its own capital - so you know it will invest in a risk-averse manner.
Second, you have the eToro CryptoPortfolio service - designed more for long-term investors. In a single investment, the user buys a broad basket of digital tokens. Each cryptocurrency within the portfolio will have its own weight. For example, Bitcoin may have a weight of 20%, while Cardano may have a lower weight of 7%. Either way, the CryptoPortfolio is professionally managed by a team of eToro.
Charges
When you buy and sell cryptocurrencies , several fees come into play. This will directly affect how much of your potential profits you get to keep - so having a solid understanding of the platform's fee structure is key.
In general, we divide platform fees into three categories, which you will find below:
Payment fees: This is the fee charged by the trading platform when depositing and withdrawing funds. To give you an idea of the disparity that can be found in this market, eToro offers free Visa and MasterCard deposits, while Coinbase charges 3.99%.
Commissions: When trading cryptocurrencies, you are likely to pay a commission. Binance will charge you 0.10% - which is very competitive. Once again illustrating how expensive Coinbase is, the exchange charges a standard commission of 1.49%.
Spreads: This is likely a hidden fee, since the spread is the difference between the bid and ask price quoted by the platform. Spreads eToro start at 0.75% when trading Bitcoin, while many brokers charge more than 2-3% - sometimes more.
Fully understanding the relevant fee structure can take some time - as many cryptocurrency platforms and apps do not provide this information.
Supported payment methods
Before you can start buying and selling cryptocurrencies, you will need to deposit funds into your account . Whether or not the broker you choose is authorized to accept payments in your preferred currency will ultimately determine what payment methods are available to you.
For example, since eToro is SEC-regulated and FINRA-approved, this means you can deposit funds via debit/credit card, ACH or online banking. However, if you are using a platform that is not licensed by a reputable body, you will likely find that you can only deposit funds using cryptocurrencies.
Mobile application
Many traders like to buy and sell cryptocurrencies while on the move. To do this, the platform must offer a native mobile app that gives you full access to your account.
Once the app is installed on your phone, you can trade cryptocurrencies no matter where you are - so you'll never miss an opportunity to make a profit. It will also allow you to get out of a losing trade with the click of a button.
How to get started using the best cryptocurrency platform and app for beginners
If you have read this guide in its entirety and decided that you want to continue with the best cryptocurrency platform and app for beginners -. eToro, we will now walk you through the process of getting started with an investment account. In fact, by following the simple instructions below, you will have your first cryptocurrency transaction credited in less than 10 minutes!
Step 1: Open an eToro account
Visit eToro, click the "Join Now" button and follow the steps shown on the screen to open an account. This generally requires you to provide some basic information, such as your name and date of birth.
In addition to providing your contact information, you will also need to choose a username and a strong password that will be used to access your eToro account after registration.
Step 2: Upload your ID information
As a heavily regulated broker, eToro will now ask you to upload some sort of ID. Once your government-issued ID is approved (which shouldn't take more than 1-2 minutes), all account restrictions will be removed.
Step 3: Deposit funds
eToro supports a wide range of payment methods - including ACH, online banking, and Visa and MasterCard debit/credit cards.
The minimum deposit amount is only $10, and best of all - users from Poland do not pay any transaction fees!
Step 4: Choose the cryptocurrency that interests you
Now you can search for your preferred cryptocurrency in the top search box.
Step 5: Make cryptocurrency transactions
Now you need to make a cryptocurrency transaction. If you are a beginner, it is best to set the transaction as a "market order" - which eToro does by default. This simply means that once you place a trade, eToro will immediately execute it at the current market price.
Then you need to enter your stake, which must be at least $10. If you want, you can also set a stop-loss order. This will prevent a losing trade from getting out of hand.
The best cryptocurrency platform and apps for beginners - Summary
In this guide, we reviewed the best cryptocurrency platforms and apps available . Each of our reviews focused on key indicators of fees and commissions, regulation, payments and user-friendliness.
If you are now looking to trade cryptocurrencies in a low-cost and secure environment - we have found that eToro is the best option for this purpose. This SEC-regulated platform offers multiple markets and you can buy, sell and trade cryptocurrencies from as little as $10.
