At the beginning of 2021, cryptocurrency is a discussed topic not only among those who have already appreciated all its advantages and made a profit, but also among those who did not know about it a few months ago, and then saw a sharp rise in the price of Bitcoin.
It is this fact that brings us to the fact that more and more newcomers appear among cryptocurrency traders who need not only educational articles (there are a lot of cryptocurrency trading guides here) but also convenient applications that will help to follow the news and rates of various cryptocurrencies.
In this article, we will discuss with you the most important points of cryptocurrencies, as well as talk about applications that will make your learning and trading easier.
Cryptocurrency – Meaning & Benefits
Cryptocurrency is a digital (virtual) currency that has no physical expression. The advantages of cryptocurrency include the following positive aspects:
- 24/7 availability of cryptocurrency – you can send and receive money every time when you need it. At any time, you can check the reliability of the operations performed.
- Anonymity. Unlike classic electronic money, transactions with which are easily tracked, it will not be possible to obtain information about the owner of a cryptocurrency wallet. Only the wallet number and limited data on the amount on the account are available.
- Reliability. Hacking, or performing other similar manipulations with virtual currency will not work – it is reliably protected.
- Limitations of cryptocurrency. As a rule, cryptocurrency is issued in a limited volume, which attracts increased attention from investors and eliminates the risks of inflation due to the excessive activity of the issuer. Thus, cryptocurrency is not subject to inflation and is inherently a deflationary currency.
- Cryptocurrency is an independent currency. Nobody regulates its issue and does not control the movement of funds on the account. It is this feature that attracts many members of the Network.
- There are no fees for transferring funds between countries.
- Cryptocurrency trading is a good source of income in case you know how to do it right.
Cryptocurrency Trading – How Does It Work?
Cryptocurrency trading has become a very popular form of earning money since 2017. The first thing to think about is the services that you will use while trading.
The two basic services are a cryptocurrency exchange and a cryptocurrency wallet. The first service will help you open and close transactions, and the second – keep large amounts of money safe.
Why can’t you keep all your money on a cryptocurrency exchange?
The fact is that all cryptocurrency exchanges are custodian services, and they store your data, including private keys for accessing money, on their servers. Accordingly, if hackers gain access to servers, they receive money for your money. Cryptocurrency wallets are largely non-custodial, so this threat disappears by itself.
Speaking of services, we would like to remind you of cryptocurrency signals and bots. If you want to make trading even easier, you can use these two services – signals will give you information about the deals you need to open, and bots will automatically trade based on your settings.
The Best Apps For Cryptocurrency Trading
Alternatively, you can look for apps to help you trade. And so that you do not waste a lot of time searching, we will now offer you a couple of options.
TradingView is a charting and data application not only from the world of cryptocurrencies but from the entire world of finance. In addition to the rate of Bitcoin, Ethereum, etc., here, for example, Apple shares or the Dow Jones index are tracked. The program has all the features, settings, and tools just like the main TradingView website.
Blockfolio is the world’s most popular crypto portfolio management app with support for over 8,000 of the most popular coins. With its help, you can control your entire portfolio, receive detailed prices for certain coins and information about the market situation, set up notifications about trend changes directly from cryptocurrency teams. Blockfolio supports display in digital and over 100 fiat currencies.
In addition, through the application, it is integrated with more than 300 crypto-exchanges. When trading one asset in different markets, this is a very useful thing. Users can view cryptocurrency charts as candlesticks and real-time information for any virtual currency.
Сoin ATM Radar
A very simple and useful application that is a card with crypto ATMs marked on it, as well as businesses that accept bitcoins for payment. In addition to the ATM address, the service will provide information about its fees and limits. You can get a route to the selected point. Each ATM is marked whether it can accept cryptocurrencies, or only sell.
Also in the application, you can find the addresses of Litecoin, DASH, and Ethereum ATMs.
Portfolio tracking, candlestick charts, cryptocurrency comparison, price alerts, and accounts are available here. To use the portfolio management feature, app users will need to register.
The application also contains a summary table with financial data for all tokens, as well as information on trading activity on crypto exchanges.
In CoinMarketCap, you can set up alerts for any of the more than 2000 currencies available on the site. This way you can easily track prices and be notified when the price reaches or exceeds the threshold you set.
Conclusions | TOP Apps For Cryptocurrency Trading
This is not the whole list of existing mobile applications for cryptocurrencies for iOS and Android. Developers do not stand still, offering traders something new, unique, and even more convenient every month. While choosing the app, you need to be sure it was developed by an experienced company like MLSDev, so as was approved after running through different software testing services.
And even though the world of mobile devices and applications will never replace full-fledged stock trading or Forex trading, smartphones, tablets and other devices of this class are reliable assistants for a professional investor anywhere in the world.