As cryptocurrency becomes popular, several people are starting to join this hype and they are looking for reliable crypto apps to try.
Fortunately, there are three trusted cryptocurrency apps for beginners.
Cryptocurrency for Beginners
For background information, a cryptocurrency is a type of online money produced utilizing encryption techniques as an alternate form of payment, per Oswego.
Through the usage of encryption technology, cryptocurrencies may operate as both a money and a virtual accounting system. In addition, a cryptocurrency wallet is required in order to manage online money.
These wallets might be an application that is kept on the computer or mobile device, and it can be accessed over the cloud. Wallets are devices that contain the owner's encryption keys, which verify the user's identity and connect them to their cryptocurrency.
Because cryptocurrencies are not regulated by banks or any other third parties, these are often uninsured and difficult to convert into a form of actual money.
Besides this, since cryptocurrencies are technology-based intangible assets, these can be hacked just like any other intangible technology assets.
Despite the benefit it brings, it is worth noting that once the cryptocurrency wallet is hacked, there is a possibility for a total loss of investment.
3 Best Cryptocurrency Apps for Beginners
3. BlockFi
Instead of placing any money in a savings account and earning the smallest amount of interest possible, people might want to consider BlockFi, per Make Use Of.
According to the program, people may earn between three percent up to seven percent interest on their crypto assets.
Luckily, it does not require people to start a new portfolio to earn money with BlockFi. Instead, they can keep their existing portfolio and earn up to four percent interest on their investments.
Investors who want to get the most out of BlockFi can choose stable coins like USDC and GUSD, which may pay up to 7.5 percent interest.
This crypto app is available for iOS and Android users.
2. Blockchain.com
Blockchain is a popular cryptocurrency program that allows users to quickly store, purchase and sell Bitcoin, altcoins and paper currency, per Daytradingz.
According to Blockchain.com, the mobile app has over 31 million verified users.
Aside from this, it has completed over $1 trillion in cryptocurrency transactions for customers from over 200 countries since its introduction in 2011.
The mobile app from Blockchain.com is accessible in 21 languages.
This crypto app allows users to perform crypto-to-crypto conversions and currency transfers. On a positive note, users may earn up to 12 percent in interest upon opening a savings account through this digital wallet, per Make Use Of.
Blockchain.com is available on both iOS and Android users.
1. Parity
Parity lets users convert an outdated phone into an offline hardware wallet that is completely safe.
Although the solution is still relatively new and has yet to create sufficient demand for its iOS and Android apps, everything appears to be quite promising so far.
Moreover, Parity was created as a better alternative to the traditional hardware bitcoin wallets. Its creators claim this cryptocurrency app as the most user-friendly cold storage option.
However, it only supports Ethereum, Ethereum-like and Polkadot blockchains and not Bitcoin.
To know more about this app, head to their website.
