Best Cryptocurrency Investing Apps
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Chasing diversity is a good strategy when building an investment portfolio. The more variety you have in your choice of investments, the better. It’s why spreading your investment dollars out among stocks, bonds, Treasury bills, and real estate is a good choice: When one investment type struggles, the gains from another might overcome any losses.
If you want to diversify even more? You might consider investing in cryptocurrency.
Cryptocurrency is any digital or virtual currency traded mostly online through peer-to-peer transactions. Many like crypto because it allows for more privacy. It’s more difficult, though not impossible, to track transactions made with cryptocurrency.
Crypto transactions also close quickly, whereas other forms of electronic payments, such as wire transfers, can take days to close. Consumers without bank accounts might also turn to cryptocurrencies to make purchases.
Cryptocurrencies have also become a way for investors to diversify their portfolios. There are several kinds of cryptocurrencies, including the most popular ones, such as Bitcoin, Ethereum, and Tether. The value of these currencies can rise and fall, like with all investment types. There have been times when the value of Bitcoin and other digital currencies has skyrocketed.
But be careful: The value of cryptocurrency has suddenly plummeted, too. As with all investment types, there are no guarantees that you’ll earn money if you invest in crypto. The digital currency market is more volatile than many other investments, meaning that the value of crypto can rise and fall sharply. Make sure you don’t invest more than you can afford to lose.
And if you are ready to purchase Litecoin, Ethereum, or Bitcoin? It helps to work with a crypto investing app. Fortunately, there are many such investing apps from which you can choose. Here are six of the best choices, depending on whether you are a serious crypto investor or a newbie just testing the world of virtual currencies.
In this article
Overview of best crypto investing apps
Company | Best for |
Coinbase | All-around use |
eToro | Users who want a social component to their investing |
TradeStation | The flexibility of a brokerage |
Robinhood | Users who crave simplicity |
Crypto.com | Users who want the most choices among cryptocurrencies |
Cash App | Best for those wanting a taste of crypto investing |
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
Best crypto investing apps
Coinbase
Coinbase ranks as the largest cryptocurrency exchange in the United States. This means that it will meet the needs of both experienced crypto investors and those new to sinking their dollars into digital currency.
Coinbase also boasts experience. This investing and trading platform was founded in 2012. On its site, Coinbase says the company aims to make it easy and safe for anyone to send, receive, and invest in cryptocurrency. According to Coinbase, 245,000 partners in more than 100 countries use the site to invest, save, and use digital currency.
Coinbase isn't a small operation, either. The company says that it has more than 3,400 employees. This can help if you have questions about your crypto investments: An employee will be there to help.
In late October, Coinbase allowed its users to invest in and monitor the performance of more than 8,900 crypto assets, including Bitcoin, Ethereum, Tether, BNB, and XRP. Buying and trading cryptocurrency isn't free, as Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions. There are no fees for signing up for or creating a Coinbase Commerce account.
Coinbase offers a welcome bonus to new users who create an account and purchase their first cryptocurrency. You can “spin the wheel” to earn from $3 to $200 in either dollars or Bitcoin.
- Where to sign up: Coinbase
- Fees: 1% flat fee on crypto transactions
- New member bonus: $3 to $200 in dollars or Bitcoin
eToro
eToro is an investing app that lets you invest your dollars in a range of financial vehicles, including stocks, ETFs, options, and, of course, cryptocurrency. Unlike other investing apps, though, eToro has a social element. Once you are a member, you can set up your account so that you can see what your friends are buying and selling. You can also post questions about investments and receive answers from investors across the globe.
The social side of eToro includes a feature called CopyTrader. With this tool, you can allocate funds to copy the moves of eToro's most popular and successful traders. As eToro says, it's a way to access the expertise of others who have succeeded on the platform.
eToro is a good choice for newer investors, too. The app provides ready-made portfolios of cryptocurrencies; each assembled using a different risk and reward profile. These portfolios, which eToro calls Smart Portfolios, allow you to invest in cryptocurrency without having to do too much research on your own.
If you want to buy or sell crypto on eToro, you'll pay a 1% flat fee. This fee is added to the market price of the digital currency you purchase and included in the price that eToro shows when you open or close a sale.
eToro also provides a welcome bonus to new members. You'll receive $10 worth of a cryptocurrency after you join and set up an account.
- Where to sign up: eToro
- Fees: 1% flat fee on crypto transactions
- New member bonus: $10 in a cryptocurrency of your choice
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
TradeStation
TradeStation is a large online brokerage that lets you trade several assets, including stocks, options, futures, and crypto. If you want to trade and invest in cryptocurrency, you'd work with TradeStation Crypto, the company's cryptocurrency broker.
That word “broker” is key. As a broker, TradeStation differs from a crypto exchange. TradeStation's crypto platform is not bound to a single exchange and can provide you access to crypto products across multiple sources of liquidity. When you purchase or trade cryptocurrency, you only work with TradeStation, not the many exchanges that deal with crypto assets. The goal is to find the lowest price for digital currencies among the many liquidity sources with which TradeStation works.
TradeStation charges no commissions for cryptocurrency trades, but TradeStation Crypto will collect a spread, or profit, on each crypto transaction you close. This spread will vary but will be no more than 1% of the midpoint between a crypto asset's prevailing bid and ask prices.
You can deposit Bitcoin, Ethereum, and USD Coin to your TradeStation account. You can also withdraw cryptocurrencies on Mondays through Fridays from 9 a.m. to 5 p.m. Eastern Standard Time. There are fees, though, for withdrawing Bitcoin (.000075 Bitcoin), Ethereum (.01 Ethereum) and USDC (20 USDC.)
- Where to sign up: TradeStation
- Fees: No more than 1%
- New member bonus: TradeStation is not offering a bonus for new members at the time of publication.
Robinhood
Want to invest in cryptocurrency with the least amount of stress? Robinhood might be your best choice. The app lets you set up automatic recurring crypto purchases. Say you want to purchase $10 worth of Bitcoin every week. You can program Robinhood to do this, automating your investment work.
And if you don’t want to pay any fees to buy and trade crypto? Robinhood, again is a good choice. This app charges no commission fees on crypto purchases or trades, meaning you won’t spend anything to buy or sell virtual currency.
This doesn’t mean there aren’t some fees. If you use the Robinhood Connect feature to buy crypto, you will be charged a 1.5% fee when using your debit card or a bank account transfer as payment.
You'll also have access to a variety of crypto coin types. Robinhood supported the buying and selling 15 cryptocurrencies as of late October, including popular coins such as Bitcoin, Ethereum, and USD Coin, but also lesser-known virtual currencies such as Shiba Inu, Litecoin, and Uniswap.
Robinhood is a good option, too, if you don't have much money to invest. You can purchase fractional cryptocurrency shares through this platform, meaning you don't have to purchase a full coin on Robinhood Crypto. For example, Robinhood says you could buy as little as 0.000001 Bitcoin, depending on your budget.
- Where to sign up: Robinhood Crypto
- Fees: Robinhood Crypto charges no commission fees on crypto buys or trades
- New member bonus: Robinhood is not offering a bonus for new members at the time of publication.
Crypto.com
Want to invest in Nano, Toncoin, Quant, Tron, or some other lesser-known cryptocurrency? Consider signing up with Crypto.com. This app allows you to buy and trade more than 250 types of cryptocurrencies, including many of the most obscure varieties.
Fees vary with this app, with Crypto.com charging fees ranging from 0% to 0.075% for transactions. Crypto.com is also one of the largest cryptocurrency apps available, boasting on its home page that it has more than 80 million users across the globe.
Using the app can be confusing for those new to cryptocurrency, though. Crypto.com doesn't offer as many educational resources as some of its competitors. The app is designed more for experienced crypto investors, investors who already understand how virtual currencies work.
Like other crypto apps, you can set up recurring buys, telling Crypto.com to purchase, say, $20 worth of Ethereum every week. You can also set up regular pricing alerts that will tell you when cryptocurrencies that interest you see their prices rise or fall.
Crypto.com also offers a Crypto.com Visa Card that, depending on the tier, will give you 1% to 5% rewards in the form of CRO tokens on any purchases you make. CRO, or Cronos, tokens can be used to transact with Crypto.com.
- Where to sign up: Crypto.com
- Fees: 0% to 0.075% for every transaction
- New member bonus: Crypto.com is not offering a bonus for new members at the time of publication.
Cash App
Cash App is best known as a mobile payment service that lets consumers send money to others, receive payments, and pay for items. But it also offers a rudimentary crypto platform. And while Cash App’s cryptocurrency option is limited, it’s a good choice for users who want to test their aptitude for crypto investing.
Cash App allows users to buy, sell, send, and receive Bitcoin. That's pretty much it. You can't purchase other forms of cryptocurrency with Cash App. But if you are interested in learning how virtual currency works with an app that’s extremely easy to use, Cash App can help.
You can purchase Bitcoin without spending a lot, too. As Cash App says, you can start investing in Bitcoin at just $1. You do this with your linked Cash App card or by using the funds in your Cash App balance. You can also set up direct deposit with Cash App, setting aside a portion of your paycheck to purchase Bitcoin automatically.
Cash App will charge you a fee when you buy or sell Bitcoin, ranging from 0.75% to 3% of the transaction amount, depending on how much of the virtual currency you are buying or selling.
- Where to sign up: Cash App
- Fees: Cash App’s fees for buying or selling Bitcoin range from 0.75% to 3% of the transaction amount.
- New member bonus: Cash App is not offering a bonus for new members at the time of publication.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
Summary of best crypto investing apps
App | Fees | Top Perk |
Coinbase | 1% flat fee on transactions | More than 8,900 types of crypto available for investing |
eToro | 1% flat fee on transactions | Strong social media platform |
TradeStation | A flat fee of no more than 1% on crypto transactions | Offers the flexibility of an online brokerage |
Robinhood | No fees on transactions | Opportunity to set up automatic crypto purchases |
Crypto.com | 0% to 0.075% of every transaction | Offers lesser-known cryptocurrency options |
Cash App | Transaction fees range from 0.75% to 3% of the amount bought or sold | Simple to use, even though the app offers fewer options |
Why you should consider investing in crypto
Investing in cryptocurrency might seem like a risky move. And the value of virtual currencies can indeed rise and fall quickly, making it a volatile investment vehicle.
But adding digital currencies to your investment portfolio can be a smart move if you don’t invest more than you can afford to lose.
Why? Cryptocurrency is a top choice if you need to make a quick purchase or send money to someone quickly. That’s because cryptocurrency transactions usually close within minutes.
Cryptocurrency transactions are usually less expensive, too. Depending on the crypto app that you use, you might pay just 50 cents to buy or sell $50 of Bitcoin. It’s also easy to buy and sell cryptocurrency. You can often set up a crypto wallet in minutes. Opening a checking or savings account at a bank typically takes longer. You also won’t have to undergo a credit or background check to open a cryptocurrency wallet.
Crypto transactions come with increased privacy, too. You can purchase and sell items anonymously with virtual currency, a plus if you don’t want anyone to know what you are buying or selling.
Then there’s diversification. It’s important to diversify the assets in your investment portfolio. While the cryptocurrency market is volatile, investing in Bitcoin, Ethereum, or other digital coins can add another layer of diversity to your collection of investments. If your stock investments are taking a beating, the value of your crypto investments might go up. This diversity can offer much-needed financial protection.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
The bottom line
If you can stand a bit of volatility, investing in cryptocurrencies is a sound way to add diversity to your pool of investments. Just remember this key rule: Don’t ever sink more money into virtual currencies than what you can afford to lose. Just because the value of a cryptocurrency is skyrocketing today doesn’t mean it won’t plummet tomorrow.
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Writer
Dan Rafter is a freelance writer who has more than 20 years experience covering personal finance. He's written for the Chicago Tribune, Washington Post, Bankrate, CreditCards.com, Rocket Mortgage, NortonLifeLock and several others.
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