Crypto Traders’ decision making processes hinge on the availability of trading tools and market data. This is why it is imperative that traders are able to access vital market information on the go. In today’s era of smartphones and mobile gadgets, it is apparent that specially designed apps that will allow for effective and efficient trading become a part of a traders collections.
At the moment, there are countless mobile apps for crypto trading, however, a few have been able to stand out. These ones retain certain features that make them more appealing to crypto traders. Hence, a brief summary of their characteristics and how they function are recorded below.
Coinigy is a crypto trading app that allow traders access over 45 major crypto exchanges and crypto wallets. This app enables users manage their accounts on multiple exchanges simultaneously. Coinigy also offers analytic tools and indicators that enable traders to analyse the cryptocurrency market. Traders can also execute live trades directly from the body of the charts provided on the app. For day-traders who may need to constantly monitor the price activities of multiple charts even on the go, this may come in as a handy tool. The services on Coinigy are not free as users are required to enter a subscription plan.
CoinTracking is another mobile app that is widely used by day-traders to track their transactions on crypto exchanges. In addition, traders can use the CoinTracking app to generate tax reports as it has functionalities that can be used to collate profits and losses. Opening an account on the CoinTracking app is free, however, users are required to pay for the Pro plan after 200 trades.
The TabTrader free-to-use status makes it one of the popular mobile trading apps in the crypto space. The app utilizes encrypted API keys to access 20 major crypto exchanges. In addition, the apps come with indicators that offer traders a better insight into price patterns. Like Coinigy, TabTrader allows traders to initiate trades from the app’s inbuilt charts. To further facilitate instant trades, TabTrader uses push notifications for price movement alerts. However, the app is more suited for experienced crypto traders
Kucoin is one of the most influential crypto exchange in the world. Its platform that also features a mobile app is famously known for its customer reward system. Kucoin’s mobile app has the same functionalities as the web version, therefore users have unlimited access to the over 350 cryptocurrencies supported by the platform. In addition, users can also access Kucoin wallets directly from the app. However, Kucoin supports only crypto to crypto exchanges and trading volume on the crypto exchange is quite low (especially for smaller coins).
Another common trading app is the Robinhood. The platform integrated cryptocurrency trading into its app in January 2018. And in less than one year, it has become one of the most used crypto trading apps. Paramount to Robinhood does not charge commission on trades and it does not possess analytical tools like its other trading apps counterparts.
It is imperative to note that all crypto trading apps have their advantages and disadvantages. Therefore, it is essential that readers analyze the pros and cons of apps listed above before deciding on which ones to adopt. Cryptocurrency trading is a risky venture and practitioners can stand to lose their entire investment over a short period of time. Therefore, anyone seeking to get involved is advised to study the markets properly and adopt tools that will be suitable for personal engagements.
Ifeanyi Egede is an experienced and versatile blockchain technology and cryptocurrency content writer and researcher with tons of published works both online and in the print media. He has helped several startup companies grow their businesses in the blockchain and cryptocurrency space. Ifeanyi has close to a decade of writing experience, and when he is not writing, he spends time with his lovely wife, Tega and adorable daughter, Chimamanda.