Benzinga’s top picks for the best Binance alternatives include Coinbase, eToro and Robinhood.

Binance has long been a leading player in the cryptocurrency exchange market, offering a robust platform for traders to buy, sell, and trade a wide variety of digital assets. However, recent regulatory hurdles and legal challenges have prompted many users to seek out alternative exchanges. These alternatives cater to diverse needs, including those looking for platforms based in the United States or seeking expedited account approvals. Benzinga has compiled a list of top alternatives to Binance, ensuring that users can find trading options that align with their requirements while navigating the evolving regulatory landscape. This shift highlights the importance of adaptability in the rapidly changing world of cryptocurrency trading and the need for users to stay informed about their choices.

Quick Look at the Best Binance Alternatives:

• Best for Coinbase Learn: Coinbase Pro
• Best for Social Investing: eToro
• Best for New Investors: Gemini
• Best for Buying and Selling Dogecoin: Robinhood
• Best for Mobile Traders: Voyager

Top 5 Best Binance Alternatives

Whether you are seeking better features, lower fees, or just a change of scenery, there are several options available to consider as an alternative to Binance.

1. Best for Coinbase Learn: Coinbase Pro

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Active Crypto Traders

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Disclosure: Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

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Active Crypto Traders

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Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Coinbase offers two platforms for the retail investor: Coinbase and Coinbase Pro. Coinbase is targeted toward the beginner and has one of the best user experiences of any crypto app on the market. For a slightly more experienced user who is accustomed to spot trades and lower fees, Coinbase Pro is the way to go. Coinbase Pro is slightly more limited when it comes to UX but features more trading pairs and significantly lower fees than its Coinbase counterpart. The best part is, Coinbase Pro is completely free and uses the same login. 

Coinbase also offers free off-chain asset transfers from the Pro app to the normal app. So if you want to take advantage of the low fees on Pro and the UX of the regular app, you can do that for free.

Why We Liked It: Coinbase Pro offers a user-friendly interface and a wide range of trading options, making it a good option for beginners and experts alike. Additionally, Coinbase Pro has a strong reputation for security and reliability, giving users peace of mind when trading. While Binance may offer more advanced features and a larger selection of cryptocurrencies, Coinbase Pro is a solid choice for those new to the game.

2. Best for Social Investing: eToro

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Social Investing

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Disclosure: Take 2 mins to learn more at https://etoro.tw/44JRWLY. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

Best For

Social Investing

N/A

1 Minute Review

eToro crypto offers access to wide range of tokens, investment opportunities and educational tools for investors of all styles and levels of experience.

Best For

• Investors looking to CopyTrade other traders
• Simple user interface

Pros

• Several major cryptocurrencies and altcoins
• Expansive network of social trading features
• Large client base for new traders to imitate
• 100+ coins available

Cons

• PayPal and Credit Card are not available for UK and FCA users

eToro stands out as an appealing alternative to Coinbase due to its integration of social trading features that cater to both novice and experienced investors. eToro’s CopyTrader feature allows users to replicate the trading strategies of successful investors in real time, thereby fostering a collaborative trading environment. This is especially advantageous for beginners who may feel overwhelmed by the complexities of cryptocurrency trading and lack the expertise to navigate the market independently. Furthermore, eToro enhances the user experience by offering a demo account for practicing with virtual funds. This allows users to build their confidence and understanding of trading without the risk of losing real money. This combination of social interaction and risk-free practice makes eToro a compelling platform for those looking to engage with cryptocurrencies.

Why We Liked It: eToro supports a wider range of asset classes, including stocks, ETFs and cryptocurrencies, providing a more diversified investment platform. Plus, its social trading and virtual trading account features can be beneficial for those who are less experienced in trading.

3. Best for New Investors: Gemini

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New Investors

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New Investors

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Gemini Trust Company LLC is a cryptocurrency exchange that supports trading in over 70 assets. While its selection of cryptocurrencies is limited compared to some competitors, Gemini excels in account security and regulatory compliance. The platform offers additional features such as a cryptocurrency rewards credit card, a built-in hot wallet, and the ability to pay crypto at various retailers. These tools and services make Gemini a robust choice for both new and experienced traders seeking a secure trading environment.

Best For

• Beginner-friendly platform offering handsome educational resources.
• Strong security features, including staking options.

Pros

• Gemini operates as a fully regulated cryptocurrency exchange.
• It accepts clients from the U.S.
• The platform employs stringent cybersecurity measures to protect users’ funds.
• Gemini is well-capitalized and adheres to banking regulations.

Cons

• Gemini is available in 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore and South Korea.
• It offers fewer crypto assets to trade, with just over 70 available.

The Gemini exchange is based in New York City and was created by the Winklevoss Twins. Gemini features a solid list of altcoins and has a beginner-friendly user interface.

Gemini also features a staking platform that allows its users to earn passive income by staking their idle currency. 

Gemini is a solid pick for beginners and even intermediate users who are just looking for an on-off ramp from fiat.

Why We Liked It: Gemini is known for its strong regulatory compliance and transparency, making it a trustworthy platform for those new to the world of cryptocurrency trading. With features like educational resources and excellent customer support, Gemini provides a supportive environment for beginners to navigate the complexities of investing in digital assets. 

4. Best for Buying and Selling Dogecoin: Robinhood

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Buying & selling Dogecoin

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Buying & selling Dogecoin

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Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Best For

• Fee-free trading
• Beginner crypto investors
• Doge day traders

Pros

• Commision-free trading
• Access to Dogecoin

Cons

• Limited altcoin selection
• No wallet capabilities

Robinhood is a brokerage for both stocks and cryptocurrencies, making it a great option for investors that want to invest in a broad range of assets. The platform currently offers fewer cryptocurrencies than dedicated crypto trading platforms. However, Robinhood supports major cryptocurrencies like Bitcoin, Ethereum and Dogecoin, making it a good option for investors looking to buy established, large market cap digital assets.

The brokerage stands out for its fee-free trading platform. Most cryptocurrency platforms will charge you for every buy and sell you make with them, whereas with Robinhood it’s all free. The platform has also integrated a cryptocurrency wallet feature which will make sending and receiving crypto coins on Robinhood easy.

Why We Liked It: With its commission-free trading model, users can buy and sell Dogecoin and other cryptos without worrying about fees eating into their profits. While Binance offers a wider range of cryptocurrencies, Robinhood’s focus on simplicity and accessibility can make it a preferred choice for some traders.

5. Best for Mobile Traders: Voyager

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Mobile Traders

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Best For

Mobile Traders

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Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users. 

When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we’ve seen that allows users to earn interest on their crypto investments. 

Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.

Best For

• Cryptocurrency investors looking for a wide selection of supported projects.
• Investors who prefer mobile trading.
• Anyone interested in earning interest on their crypto investments.

Pros

• Simple, straightforward and intuitive mobile platform
• Wealth of investment opportunities
• Allows users to earn interest on select crypto investments

Cons

• Only available for mobile users — no desktop platform
• Limited routes to contact customer service team

Voyager is U.S.-based and offers a wide range of cryptocurrencies on its mobile app. Similar to Robinhood, Voyager offers $0 commissions on all crypto orders, making it an excellent choice for traders and accumulators. 

Voyager also allows its users to send their assets off of the platform to other crypto wallets and decentralized finance (DeFi) protocols. 

Unfortunately, Voyager does not have a desktop platform yet so you’ll be limited to mobile app trading, which may not be a huge deal for some. 

Why We Liked It: With a seamless mobile app, Voyager allows traders to easily monitor their portfolio and make trades on the go. This makes it a top choice for mobile traders looking for a reliable and efficient platform.

What Makes Binance Unique?

Binance is popular for its immense variety of trading pairs, including altcoins that most other exchanges deem far too speculative for their investors. 

Binance also differentiates itself from competitors with its own smart contract blockchain, the Binance Smart Chain (BSC). 

While the Ethereum network currently has over 5,000 active nodes securing the network, the Binance Smart Chain is secured by only 21 community validators. While this is great for scaling, it is incredibly bad for security. 

Despite its flaws, the BSC consumed much of the DeFi ecosystem from Ethereum in early 2021, as more and more users became priced out by Ethereum’s gas fees. 

Pro Tip: As Ethereum scales via Layer 2 solutions and sidechains, you can expect to see much of the value return to the Ethereum ecosystem. 

Why Binance Might Not be Right for You

While Binance is technically not available to U.S. customers, Binance runs a limited-feature arm for U.S. customers, Binance.US. Binance.US provides access to far less altcoins and requires know your customer (KYC) compliance to make an account. 

Common Complaint: Untrustworthy

Binance is a centralized exchange run by Changpeng Zhao, more commonly known as CZ. Binance has struggled finding a home, moving its headquarters multiple times only to be kicked out by each government it attempts to court. 

Binance does more volume than any other crypto exchange in the world. And, it is also under investigation by the Internal Revenue Service (IRS) and Justice Department as of May 2021.  

As previously mentioned, centralized exchanges require trusting the company. For many, Binance has yet to earn their trust. Those users typically opt for U.S.-based or decentralized exchanges instead. 

Security Risks

While Binance implements various security measures to protect user funds, it remains essential for users to recognize the inherent risks associated with storing assets on any exchange. Despite efforts like two-factor authentication and cold storage, the platform has experienced notable hacking incidents in the past, highlighting vulnerabilities that can be exploited by malicious actors. Such breaches not only compromise individual accounts but can also lead to significant financial losses for users. Therefore, to mitigate these risks, it is advisable for users to consider transferring their funds to a private wallet where they have more control over their assets, reducing exposure to the potential pitfalls of centralized exchange platforms.

What to Look for in a Binance Alternative

When choosing a centralized cryptocurrency exchange to on and off ramp your fiat to crypto, you’ll want one that you trust. 

Generally, your best bet is to select a well-audited, U.S.-based cryptocurrency exchange such as Coinbase, Gemini or Robinhood. A publicly traded exchange is an extra bonus as they are likely to be taking extra security measures for their shareholders’ sakes. 

Choosing the Best Alternative to Binance

If you are currently a Binance user or someone looking to open an account with Binance, there are a lot of reasons to look elsewhere. Fortunately, there are many great Binance alternatives, and you can still have a Binance account alongside them. There is no reason not to open multiple accounts to take advantage of the unique features and offerings of each one. 

If you decide to open an exchange account, make sure to always do your own research on security and insurance policies. It’s also highly advisable to purchase a cryptocurrency wallet like the Ledger Nano X to secure large sums privately.

Frequently Asked Questions

The post 5 Best Binance Alternatives in December 2024 by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

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As one of the leading cryptocurrencies in terms of market capitalization and technological advancements, Ethereum has established itself as a leading blockchain platform with strong utility and potential for growth. But with the volatile nature of the cryptocurrency market, many investors are left wondering, is Ethereum a good investment?

In this guide, we will delve into the factors that make Ethereum an attractive investment option, as well as the potential pitfalls to look out for. Whether you are a seasoned investor or a curious beginner, gaining insights into Ethereum’s investment potential can help you navigate the complexities of the digital currency market.

Understanding Ethereum: An Overview

Ethereum is not a cryptocurrency — it’s a global computer for running decentralized apps (dApps). Ether (ETH) is the cryptocurrency that powers the Ethereum network, and it’s the required form of payment for running your app or processing your transaction on the highly-desired Ethereum blockchain. 

While Bitcoin is really good as a store of value, it doesn’t support smart contracts like Ethereum does. Arguably, Ethereum is equally capable as a store of value. This being said, many prefer bitcoin to store value because of its hard-capped supply. While both the supply of Bitcoin and Ether are increasing, there will never be more than 21 million bitcoin in circulation. With Ethereum 2.0 and EIP-1559 however, Ether may become deflationary, that is, the supply of the token will actually decrease with time.

Ether has been competing with Bitcoin for the top spot as the largest cryptocurrency by market capitalization since its release in 2015 and came close to overtaking Bitcoin in February 2018. Both of these coins have hit new all-time highs since then, and there appears to be more room for both to grow in 2024. Some experts predict Ethereum will “flip” Bitcoin this market cycle to become the dominant cryptocurrency in the industry.

How Ethereum Has Performed Since Launch & in 2024

Ethereum has had a volatile price history since its launch in 2015. In its early days, Ethereum was trading at just a few dollars per coin. However, during the cryptocurrency boom of late 2017, Ethereum reached a high price of over $1,400. In Nov. 16, 2021, it reached an all-time high of $4,891.70. Since then, Ethereum’s price has fluctuated significantly, driven by factors such as market speculation, technological developments, regulatory news and overall market sentiment.

How Did Ethereum Perform in 2023?

In 2023, Ethereum performed exceptionally well, experiencing significant growth in its value and market capitalization. The implementation of Ethereum 2.0 brought about scalability improvements and lower transaction fees, making the platform more efficient and attractive to investors and developers. The rise of decentralized finance (DeFi) applications also boosted Ethereum’s performance, as more projects were built on its blockchain. Overall, Ethereum solidified its position as a leading smart contract platform and continued to show strong growth potential.

How Much is Ethereum Right Now?

As of Jul. 18, 2024, Ethereum (ETH) is priced at $3,406.85

Ethereum Price Prediction

Price predictions are not always accurate, but a Ethereum price forecast can highlight potential investment opportunities. Benzinga has compiled important information regarding ETH future prices to address questions about whether Ethereum will rise in value. Discover ETH price forecasts here.

Where to Buy Ethereum

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Disclosure: Take 2 mins to learn more at https://etoro.tw/44JRWLY. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

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Social Investing

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eToro crypto offers access to wide range of tokens, investment opportunities and educational tools for investors of all styles and levels of experience.

Best For

• Investors looking to CopyTrade other traders
• Simple user interface

Pros

• Several major cryptocurrencies and altcoins
• Expansive network of social trading features
• Large client base for new traders to imitate
• 100+ coins available

Cons

• PayPal and Credit Card are not available for UK and FCA users

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Low Minimums

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Best For

Low Minimums

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Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For

• Active traders
• Intermediate traders

Pros

• No charges to open and maintain an account
• No account maintenance fees or software platform fees
• Intuitive trading platform with technical and fundamental analysis tools

Cons

• Only offers 14 coins

Best For

A Fast Trading Experience

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Disclosure: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

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A Fast Trading Experience

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Uphold is a unique broker that makes it easier than ever for you to trade on the crypto market, with quite a lot of information and access to cryptocurrencies that will help diversify your portfolio.

Uniquely, Uphold just released the option for a Trailing Stop Order. Unlike a Stop Order, which only protects you from losses based on purchase price, a Trailing Stop Order readjusts to the highest price after you buy. Therefore, you will follow the market up while the “going’s good” and get out if the price starts falling further than you’d like.

Also, ATOM is now a Tier 3 token, meaning that you can make deposits and withdrawals to and from the Cosmos Network.

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Pros

Cons

Decided you want in on the Ethereum action? Listed below are a handful of exchanges where you can purchase Ether. If you’re new to crypto, jump to our guide on How to Buy Ethereum or compare exchanges with the Best Cryptocurrency Exchanges guide.

Advantages of Ethereum

The overwhelming performance of Ethereum has attracted traditional and institutional investors alike. Ethereum and other cryptocurrencies provide you with the following advantages over traditional investments that point to Ethereum being a good investment:

Smart Contracts

Ethereum allows for the development of smart contracts, which are contracts that automatically execute themselves based on the code written within them. This makes transactions automated and trustworthy, eliminating the need for middlemen, which lowers costs and improves efficiency.

Decentralization

Ethereum functions on a decentralized network of nodes, improving security and minimizing the chances of a single point of failure. This decentralization helps protect against censorship and fraud, contributing to a more open and equitable ecosystem.

Wide Adoption

Ethereum is a popular blockchain platform with a significant and engaged developer community, resulting, among other things,in ongoing enhancements, valuable resources for developers, and many decentralized applications (dApps) developed on its platform.

Interoperability

Ethereum’s platform enables the creation of tokens and decentralized applications (dApps) that can effectively communicate with each other. This ability to interact promotes innovation and supports the development of intricate systems, including decentralized finance (DeFi) and non-fungible tokens (NFTs).

Robust Security

The Ethereum network is highly secure thanks to its proof-of-work and upcoming proof-of-stake consensus mechanisms. This makes it challenging for attackers to disrupt the network, which helps users trust the safety of their transactions and assets.

Tokenization

Ethereum facilitates the tokenization of physical assets, such as real estate, art, or securities, allowing them to be represented as digital tokens on the blockchain. This enhances liquidity and provides more investment opportunities.

Community and Ecosystem

Ethereum has an active community of developers, users, and investors that encourages teamwork and innovation. Its ecosystem is backed by multiple projects, tools, and marketplaces that improve its usefulness and promote the adoption of blockchain technology.

Disadvantages of Ethereum

Ethereum may play a part in the future of monetary exchange and global computing systems, but it is equally important that you are aware of the concerns surrounding cryptocurrency investing. However, a few are certainly overblown (or will be fixed soon) and mistakenly make some investors think that Ethereum is a bad investment.

Scalability Issues

Ethereum experiences scalability issues, particularly during high-demand periods when the network may get congested. This leads to slower transaction times and increased gas fees, reducing the platform’s efficiency for users.

High Transaction Fees

Gas fees on the Ethereum network tend to increase during busy periods, which can make smaller transactions less appealing and limit the platform’s usability for regular users.

Complexity of Use

The Ethereum ecosystem can be intricate for newcomers, as it includes various tools, wallets, and decentralized applications (dApps) that may require a significant amount of learning. This complexity can hinder adoption by non-technical users.

Regulatory Concerns

Ethereum, similar to other cryptocurrencies, experiences uncertainty due to government regulatory decisions worldwide. Changes in regulations can affect the value of Ether and its usability for different applications.

Security Vulnerabilities

The Ethereum network is mostly secure, but vulnerabilities in smart contracts can create risks. Issues in the code may lead to hacks or exploits that can cause major financial losses.

Transition to Proof of Stake (PoS)

Ethereum is moving from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism, which raises concerns about possible bugs and implementation challenges. The long-term effects of this change on network security and decentralization are yet to be determined.

Environmental Concerns

The transition to Proof of Stake (PoW) intends to lower energy usage, but Ethereum’s previous Proof of Work system has faced criticism for its environmental effects. Furthermore, ongoing worries about the sustainability of blockchain technologies can influence public views and acceptance.

Ethereum Trading Signals

IntoTheBlock provides a fantastic suite of fundamental and technical trading signals to help you make your own informed decision on whether Ethereum is a good investment or not.

How to Store Ethereum Safely

So, is Ethereum a good investment? It can be if you do your research, manage your coins properly and keep an eye on the market. Crypto investing is not as simple as calling a broker and buying or selling. You are actively involved in the process, and that means you need a wallet. Cryptocurrency wallets are a fundamental part of the ecosystem, giving you the ability to easily send and receive money.

There are two types of wallets: software and hardware. MetaMask and Exodus Wallet are typically the best route to go for software wallets, and the Ledger Nano X is the best hardware wallet.

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ERC-20 tokens

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ERC-20 tokens

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Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.

Best For

• ERC-20 tokens
• All experience levels

Pros

• Easy to set up and use
• Supports more than 1,500 different digital assets
• Tamper proof
• Portable
• Long-lasting battery
• Bluetooth connectivity features

Cons

• Can be quite pricey

Ethereum NFTs

A key driver for Ethereum’s blockchain is the rise of NFTs. Almost every high-value NFT is secured by Ethereum’s blockchain, including CryptoPunks, Bored Ape Yacht Club, and Art Blocks. Many new users on Ethereum were drawn to its network to invest in NFTs, so if NFTs continue to breach into the mainstream, it’s likely Ethereum will continue to gain adoption. While other platforms like Solana and Avalanche have NFTs, the market for non-fungible tokens on these blockchains is magnitudes smaller than that of Ethereum.

Disclaimer: Do not take out a loan to invest in cryptocurrencies like Ethereum. Do not purchase them with credit. Do not do anything that could endanger you or jeopardize your financial future. If you aren’t sure how much risk you are capable of handling, consult a financial advisor who is trained for this.

Ethereum vs. Other Investment Options

Bitcoin and Ethereum have completely different use cases. Bitcoin acts as a store of value, similarly to gold. Ether acts as a store of value too, while the Ethereum Virtual Machine enables a host of innovative applications such as DeFi, NFTs and the metaverse.

The Ethereum Virtual Machine allows coders to write programs called “smart contracts.” Ethereum smart contracts can automate thousands of financial products and are the building blocks of NFTs. These smart contracts enable full-fledged applications like decentralized exchanges (DEXs) and automated market makers (AMMs).

While very basic smart contracts are technically possible on Bitcoin’s blockchain, Ethereum’s custom programming language and huge team of developers make it the likely long-term settlement layer. Bitcoin’s blockchain acts as a decentralized ledger for processing payments. Ethereum is a ledger with a full computer attached, allowing much, much more than just processing payments.

As far as which of the two is a better investment, it’s impossible to say for sure. It’s likely that both Bitcoin and Ethereum will stand the test of time and coexist peacefully in the future. Bitcoin is ahead now but Ethereum seems to be the clear winner in terms of utility though it is generally more volatile. At the end of the day, your investment decisions must be made by you (or an investment advisor). The best thing you can do is to educate yourself as much as possible before risking any of your hard-earned money, and never invest money you aren’t willing to lose entirely. You don’t want to end up on the front page of Wall Street Bets, after all. 

Should You Invest in Ethereum?

Investing in Ethereum can be a risky but potentially rewarding venture. As one of the largest and most established cryptocurrencies, Ethereum has a strong community and a wide range of use cases beyond just digital currency. Its smart contract functionality has enabled the development of decentralized applications and other blockchain innovations. However, like any investment, there are risks involved, including market volatility and regulatory uncertainties. It’s important to do thorough research and understand your risk tolerance before deciding to invest in Ethereum.

Frequently Asked Questions

***Information is not intended for U.S. users

The post Is Ethereum a Good Investment? by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

Cryptocurrency has been a hot topic in the financial world, with Bitcoin leading the pack as the most well-known and widely used digital currency. It’s hard to predict whether this cryptocurrency will become the global reserve currency or a store of value as widely accepted as gold. With its soaring value and potential for high returns, many investors have been enticed by the promises of Bitcoin. Of course, there are also skeptics who warn of its volatility and lack of regulation.

So, is Bitcoin really a good investment? The short answer to this question varies, depending on who is asking it. Bitcoin’s price volatility and the lack of regulation in the market make it a risky investment option. However, some individuals believe in the potential of Bitcoin as a decentralized currency and store of value, leading them to consider it a good long-term investment. Start with our guide to learn more and make your own judgment on whether Bitcoin is a good investment for you.

The History of Bitcoin

Since its inception, Bitcoin was the first digital asset to beget the current ecosystem of cryptos. The release of the whitepaper describing the tech just after the 2008 financial crisis was a quiet start to the cryptocurrency revolution. For quite a while, it grew an underground following of investors who saw its future as a possible replacement to the physical monetary system. Now Bitcoin has become a household name as institutions and governments develop ways to serve their customers growing demand for exposure.

Similar to how the internet was once a speculative investment, Bitcoin has received similar criticism. In reality, Bitcoin‘s current adoption rate outpaces that of the internet’s in 1998, and millions of people now own Bitcoin. And the spread at which its adoption is spreading seems to only be increasing.

In 2021, El Salvador became the first country in the world to make Bitcoin a legal tender; Paraguay and other small countries look to follow suit. El Salvador is also the first and only country to have Bitcoin in its treasury. As of late 2022, El Salvador has roughly 2,400 Bitcoin. President Nayib Bukele has not been shy about announcing his purchases on Twitter.

Other countries may look to copy this move to attract innovation, while others might ban it entirely in an attempt to save their fiat currency or clear the way for a central bank digital currency. Despite the doom and gloom of the 2022 bear market, Bitcoin has solidified its spot in the global geopolitical climate, and the 2020s may be the decade of massive adoption. This has led investors to wonder if Bitcoin is a good investment.

How to Invest in Bitcoin

Bitcoin is available from a multitude of centralized cryptocurrency exchanges. The safest exchanges are U.S. based, which also means you’ll need to comply with the SEC’s know your customer (KYC) guidelines. For tax purposes, making an exchange account will require inputting your personal information including your address and social security number. Once you’ve got this handy, you’re ready to get started.

Here are the steps to invest in Bitcoin:

Educate Yourself

Start by gaining knowledge about Bitcoin and the cryptocurrency market. Familiarize yourself with how Bitcoin operates, the principles of blockchain technology, wallets, exchanges, and the potential risks linked to investing in cryptocurrencies. Use trustworthy resources such as books, articles, and courses to establish a solid understanding.

Choose a Reliable Cryptocurrency Exchange

Choose a cryptocurrency exchange that meets your requirements, considering aspects like security, fees, user experience, and trading pairs. Common options are Coinbase, Binance, and Kraken. Set up an account and finish any required identity verification.

Set Up a Secure Wallet

You can store Bitcoin on exchanges, but it’s advisable to transfer your assets to a secure wallet. You can choose hardware wallets (such as Ledger or Trezor) for better security or software wallets for ease of use. This way, you maintain control over your Bitcoin and protect it from possible hacks.

Fund Your Exchange Account

Once your account is set up, you need to add funds. You can usually do this through bank transfer, credit card, or other cryptocurrencies. Make sure to check for any fees related to deposits on the exchange you selected.

Buy Bitcoin

After you add funds to your account, you can order Bitcoin. You have the option to buy at the current market price (market order) or specify a price you want to pay (limit order). Once your purchase is finished, make sure to transfer your Bitcoin to a secure wallet for long-term storage.

Decided that Bitcoin is a good investment and want to know where to buy some? Here are some of the best crypto exchanges available today:

Investing in Bitcoin

Before jumping on the bandwagon, it is important to understand the potential benefits and risks of investing in Bitcoin to help you make an informed decision about whether it’s the right investment for you.

Pros

Potential for High Returns

Bitcoin has shown considerable investment returns in the past. Those who adopted and invested early have experienced notable profits as Bitcoin’s value has increased over time, making it an attractive choice for individuals interested in high-risk, high-reward investments.

Decentralization

Bitcoin functions on a decentralized network, which means it’s not governed by any individual, government, or financial institution. This feature can shield investors from government regulations and possible inflation, promoting a sense of financial independence.

Liquidity

Bitcoin is a highly liquid asset, enabling investors to buy, sell, and trade it across various exchanges. This liquidity offers investors the ability to quickly react to market trends or adjust their investment strategies.

Growing Acceptance

More businesses and institutions are starting to accept Bitcoin as a valid payment option. This growing acceptance not only increases its usefulness but could also raise its value as demand for Bitcoin increases.

Hedge Against Inflation

During periods of economic instability or inflation, Bitcoin is frequently considered a form of “digital gold.” Its maximum supply, limited to 21 million coins, may provide some protection against currency devaluation, making it a viable choice for investors aiming to preserve their wealth.

Cons

Volatility

Bitcoin is recognized for its significant price swings. Investors have the potential to achieve substantial profits, but they can also encounter considerable losses in a brief timeframe. This volatility might discourage cautious investors from participating in the market.

Regulatory Risks

The rules about cryptocurrencies, like Bitcoin, are still changing. Governments globally are updating their policies, which can affect Bitcoin’s legality, use, and value. Uncertain future regulations may present risks for investors.

Security Concerns

Investing in Bitcoin carries certain security risks. It’s important for investors to protect their private keys and wallets against hacking, theft, and loss. If someone loses access to their Bitcoin wallet or falls victim to cybercriminals, they may permanently lose their investment.

Lack of Consumer Protections

Bitcoin transactions differ from traditional financial systems in that they are irreversible and typically lack consumer protections. If a transaction encounters issues or an investor falls victim to a scam, recovering lost funds can be difficult, highlighting the importance of careful research beforehand.

Limited Use Cases

Bitcoin has become well-known as a digital asset and store of value, but its practical use as a currency remains limited. A number of businesses do not accept Bitcoin for payments, which may restrict its usefulness as a medium of exchange and impede broader adoption.

Is Bitcoin a Good Investment Despite the Risk?

Similar to any speculative investment, buying Bitcoin obviously carries significant risk. As the traditional finance world realizes Bitcoin’s potential for disruption, they must choose either to adopt cryptocurrencies or face irrelevance. Its volatility risk is one of the major factors determining whether Bitcoin is a good investment but it isn’t necessarily good or bad. The personal decision to invest in Bitcoin comes down to your appetite for risk and your perspective on the future of humanity. For example, Russia has stated they are looking into cryptocurrencies to lower their dependence on the US dollar. Bitcoin has the potential to disrupt the US dollar in a massive way, and it is simply too big to be ignored at this point. If this disruption is successful, Bitcoin could be a fantastic investment.

The main reason a traditional investor may want exposure to Bitcoin is to hedge against inflation and potentially the collapse of the fiat-based economy. Bitcoin’s volatility is a concern to may investors, however volatility is expected to decrease forever as institutions and governments enter the market with long-term interest.

Bitcoin Technical Analysis: Fear and Greed Index

The Fear and Greed Index can be a useful indicator of the cryptocurrency market’s sentiment. The general sentiment of the market can be a useful factor when you decide if Bitcoin is a good investment for you. Historically, times of the greatest fear have generally been bullish indicators (suggesting the bottom is in or is close) and times of the highest greed are often bearish indicators (suggesting the top has been reached or is close). The Fear and Greed Index isn’t perfect and doesn’t always forecast the future well but it can be a good tool in making an educated guess. Bitcoin’s recent resurgence has brought its Fear and Greed Index to neutral from extreme fear only a few weeks ago.

Can Bitcoin be Exchanged for Real Money?

Bitcoin can be converted to cash easily in a bunch of different ways. You can sell Bitcoin on a cryptocurrency exchange like eToro or Crypto.com. This is usually the easiest option. Once you sell it for cash you can withdraw it straight to your bank account. This is a simple way to convert your Bitcoin to cash, but you must remember that the price of a Bitcoin is changing all the time. Yes, you may need cash, but you might be kicking yourself a few years down the road if the price of Bitcoin skyrockets over and over again.

Bitcoin ATMs are expensive, but if there is one near you, you can exchange your Bitcoin for cash there. However, these ATMs often charge hefty fees, so you’re most likely much better off using an exchange.

How Will Bitcoin Perform in 2024?

It is difficult to predict exactly how Bitcoin will perform in 2024 as it is influenced by various factors such as market demand, government regulations, technological advancements and investor sentiment. However, based on historical trends and the growing popularity and acceptance of cryptocurrencies, it is possible that Bitcoin will continue to experience growth and potentially reach higher levels in terms of value and adoption. It is important to note that investing in cryptocurrencies carries inherent risks and it is advisable to conduct thorough research and seek professional advice before making any investment decisions.

Bottom Line

Still wondering if Bitcoin is a good investment? It can be, so long as you do your research and understand the market before considering investing in Bitcoin. Factors such as market trends, regulatory changes and technological advancements can greatly impact the value of Bitcoin. Investors might, however, turn Bitcoin into a bad investment if they try to treat it like any other asset.

Frequently Asked Questions

The post Is Bitcoin a Good Investment in November 2024? by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

Want to jump straight to how to buy VeChain? You can buy VET on Coinbase.

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The VeChain network features two distinct tokens. The first is VET, which had a market cap exceeding $1 billion in early 2021. VET is primarily intended for investment and value transfers. The second token, VTHO, facilitates transaction processing on the VeChain Thor blockchain. By separating these tokens, VTHO minimizes transaction costs. Meanwhile, VET enables market speculation on the platform’s future. VET holders receive daily VTHO allocations, allowing them to participate in the VeChain Thor blockchain.

Interested in entering this top-50 market cap cryptocurrency? Learn how to buy VeChain (VET) in just a few simple steps! Whether you’re a beginner or an experienced investor, this guide will help you navigate the process.

How to Buy VeChain (VET)

Follow these simple steps to purchase VET, so you can confidently add this innovative cryptocurrency to your portfolio.

1. Create an Account

To purchase VET, you first need to open an account with a cryptocurrency exchange or broker that supports the trading of VeChain. Navigate to the platform’s website or download the mobile app and look for the “Sign Up” button. You will be prompted to enter your email address and create a password. After setting up your account, you must verify your identity, which typically involves submitting personal information and documents such as a government-issued ID and proof of address.

Depending on where you live you’ll have a few different options for purchasing VeChain. If you’re based in the United States, consider using Coinbase or Binance.US. If you’re outside of the US, try using Binance. Depending on your local regulations you may or not be able to access this coin on a centralized exchange. Be careful and don’t enter personal information into any websites that you don’t trust.

2. Fund Your Account

You can fund your account through various methods. Depending on the platform, options may include credit cards, bank transfers, or existing cryptocurrency wallets. Many trading platforms allow users to link their bank accounts for direct deposits or wire transfers. This enables easy transfers of fiat currency like USD or EUR. Users can also use credit or debit cards, though this may result in higher fees. Follow the instructions for your chosen payment method. Enter the desired amount and confirm any applicable transaction fees.

To deposit cryptocurrency, generate and copy a wallet address from the exchange, then send funds from your personal wallet. Always verify the address and amount before confirming to prevent loss of funds.

3. Purchase VET

All that’s left to do now is to purchase VET and send it to your chosen wallet for safekeeping. You can purchase VET similarly to how you would buy another cryptocurrency or stock. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately.

What Is VeChain?

VeChain is a business-facing blockchain aimed at creating “a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration and high-speed value transfer”.

The VeChain network launched in 2016 and aims at enterprise adoption. VeChain provides blockchain as a service (BaaS) through their ToolChain platform. ToolChain offers applications for carbon reduction, increasing consumer confidence, automobile supply chain and many other problems facing the world today.

In 2018, VeChain rebranded to VeChain Thor and announced the Thor Blockchain. The Thor blockchain aims to serve more than just supply chain with smart contract support for additional enterprise applications.

The VeChain Thor blockchain uses a proof of authority consensus model. Transactions are verified by 101 “trusted” masternodes across the world.

Brief History of VeChain

VeChain was created by Sunny Liu to create transparency in the supply chain process using blockchain technology. Sunny was the CIO for Louis Vuitton China before leaving to create VeChain in 2015. The VeChain token (VEN) was launched in 2017 and later rebranded to VET, which serves as the platform’s native currency. The project gained significant traction through partnerships with major corporations and government entities, enabling it to tackle real-world logistics and supply chain challenges. Over the years, VeChain has evolved from a simple token to a comprehensive blockchain ecosystem, incorporating features like smart contracts and proof-of-authority consensus, and has played a pivotal role in various industries, including luxury goods, agriculture, and pharmaceuticals.

With a market capitalization of $1.69 billion, VET is ranked 44th in the top cryptocurrencies in terms of market cap. As of Sept. 5, 2024

Where to Buy VeChain (VET)

The best trading platform depends on the investor’s specific needs and goals. Major exchanges such as Coinbase, Binance and Crypto.com allows trading of VET. Here are some of our top choices to begin your crypto trading journey.

Best For

Active Crypto Traders

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Disclosure: Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

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Active Crypto Traders

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1 Minute Review

Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Best For

Altcoin Trading

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Best For

Altcoin Trading

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1 Minute Review

Binance is the largest cryptocurrency exchange in the world by trading volume. In fact, it tops the ranks of cryptocurrency exchanges maintained by CoinMarketCap, which are ranked based on 24-hour trading volumes, exchange score and average liquidity. Binance triumphs over exchanges like Huobi Global and Coinbase, which follow closely in 2nd and 3rd places, respectively. 

Previously based in Malta, the Binance Group is now based in the Cayman Islands. Binance has several locations and entities registered across the globe. In the United States, it’s known as Binance.US. The exchange in the U.S. uses the same cutting-edge technology and trading services as its global counterparts with the difference being U.S. regulatory compliance. It is operated by San Francisco-based BAM Trading Services.

Binance.US ranks 9th on CoinMarketCap’s list of the top 10 exchanges based on metrics like 24-hour trading volume, exchange score and average liquidity. Binance could be a good platform for you to invest in cryptocurrencies if you are a U.S.-based trader who trades frequently, doesn’t intend to pay high trading fees and needs access to a large number of cryptocurrencies. 

Best For

• US Citizens
• Frequent day traders
• Users interested in Binance Smart Chain (BSC) and Binance Coin (BNB)

Pros

• Low trading fees
• Easy-to-use platform
• Wide selection of altcoins — it offers 51 cryptocurrencies apart from Bitcoin (BTC)
• Good customer service
• High liquidity because of large trading volumes

Cons

• Only residents of 43 states in the U.S. can trade on Binance.US. You cannot trade on this platform in New York, Connecticut, Hawaii, Texas, Vermont, Idaho and Louisiana
• Despite the wide selection of altcoins, the number of tokens offered on the U.S. platform is not comparable to the hundreds of choices available on the Binance global platform
• There is no option for telephonic customer support

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Sign Up Bonuses

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Best For

Sign Up Bonuses

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Crypto.com strives to make cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, crypto lending, and many other services. What really sets them apart, however, is the combination of super low fees and incredibly generous rewards programs for their users.

Best For

• Traders who want access to a secure, low-cost cryptocurrency exchange
• Passive investors who want to earn interest on their balance without frequent trading
• Mobile investors who prefer to handle all their crypto needs via their phone or tablet

Pros

• Low fees
• High security
• One-stop shop for all your crypto needs (wallet, trading, spending, and more)
• Lots of ways to earn interest, rewards, and rebates

Cons

• Low privacy
• Customer service response time could be improved

Best For

New Investors

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Best For

New Investors

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1 Minute Review

Gemini Trust Company LLC is a cryptocurrency exchange that supports trading in over 70 assets. While its selection of cryptocurrencies is limited compared to some competitors, Gemini excels in account security and regulatory compliance. The platform offers additional features such as a cryptocurrency rewards credit card, a built-in hot wallet, and the ability to pay crypto at various retailers. These tools and services make Gemini a robust choice for both new and experienced traders seeking a secure trading environment.

Best For

• Beginner-friendly platform offering handsome educational resources.
• Strong security features, including staking options.

Pros

• Gemini operates as a fully regulated cryptocurrency exchange.
• It accepts clients from the U.S.
• The platform employs stringent cybersecurity measures to protect users’ funds.
• Gemini is well-capitalized and adheres to banking regulations.

Cons

• Gemini is available in 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore and South Korea.
• It offers fewer crypto assets to trade, with just over 70 available.

Best For

A Fast Trading Experience

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Disclosure: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

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A Fast Trading Experience

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Uphold is a unique broker that makes it easier than ever for you to trade on the crypto market, with quite a lot of information and access to cryptocurrencies that will help diversify your portfolio.

Uniquely, Uphold just released the option for a Trailing Stop Order. Unlike a Stop Order, which only protects you from losses based on purchase price, a Trailing Stop Order readjusts to the highest price after you buy. Therefore, you will follow the market up while the “going’s good” and get out if the price starts falling further than you’d like.

Also, ATOM is now a Tier 3 token, meaning that you can make deposits and withdrawals to and from the Cosmos Network.

Best For

Pros

Cons

How to Store VET Safely

You’ll need a cryptocurrency wallet to hold your VET and VTHO tokens. Binance has a wallet built in that can hold both tokens, however it’s best practice to move any funds that aren’t meant for trading to a cold storage wallet. Consider these options below to store your VET tokens.

• Hardware wallet: Exodus Wallet

Best For

Staking Crypto + Earning Rewards

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Staking Crypto + Earning Rewards

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Founded in 2015, Exodus is a multiasset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and more across an industry-leading 10,000-plus asset pairs from a beautiful, easy-to-use wallet. The noncustodial functionality is encrypted locally on users’ own devices, ensuring privacy, security and complete control over their wealth. Exodus is on a mission to empower half the world to exit the traditional finance system by 2030.

Best For

• Newcomers to the cryptocurrency world
• Ease of use
• Trezor integration

Pros

• Free
• Huge selection of cryptocurrencies
• Excellent 24/7 customer support
• No personal info needed

Cons

• FTX app not available on the mobile app

A hardware wallet never touches the internet, keeping your crypto the most secure. The Exodus ecosystem is a wallet interface that works on mobile or on desktop. It features a built-in exchange and offers support for over 150 cryptocurrencies.

• VeChain’s Software Wallet: VeChain Thor Wallet

The VeChain Thor wallet was created by VeChain for their tokens. This wallet has apps for both iOs and Android devices. Unlike most altcoins, VET and VTHO aren’t Ethereum-based. Instead, they run on VeChain’s native blockchain, Thor. This means that popular software wallets like MetaMask are incompatible with VeChain tokens. Remember that you earn VTHO each day you hold VET tokens.

Trade, Sell or Convert Your VeChain Tokens

If you want to actively trade your VET or VTHO, you’ll need to hold it on your exchange wallet for quick access to liquidity. This presents a risk as exchange wallets are less secure than cold storage. Crypto prices are subject to extreme volatility, especially in the short term. Trading also exposes you to risks in price volatility. 

If you’re looking to sell your VeChain tokens and cash out, there are a few options available. If you want to move more that at once, your best bet is to sell your tokens into a stablecoin like Dai or USDC. Once you’ve realized your gains in a stablecoin, you can transfer Dai or USDC to a Coinbase account capable of $25,000 daily limits for fully verified accounts. 

Because VeChain tokens are not Ethereum-based, your options for converting are not great. Ethereum-based tokens such as Uniswap or Wrapped Bitcoin can be interchanged easily through an automated market maker such as Uniswap or Sushiswap. This is not the case with VET or VTHO. 

Current Crypto Prices

VET surpassed a $1 billion market capitalization for the first time in 2021. However, the crypto crash of 2022 has stunted the growth of many crypto assets, even if they are still gaining value on some level. This is the case with VET. The tokens are still growing, but they may not reach the projected prices that once colored the fervor behind them. Remember to factor in risk-adjusted returns when considering the current crypto prices.

Bitcoin

BTC

74062.00

0.71%

Trade

Ethereum

ETH

2061.77

0.53%

Trade

Tether

USDT

1.00

0.00%

Trade

BNB

681.25

0.21%

Trade

USDC

1.00

0.00%

Trade

XRP

1.05

-0.02%

Trade

Solana

SOL

83.70

0.38%

Trade

TRON

TRX

0.32

-0.31%

Trade

Figure Heloc

FIGR_HELOC

1.07

2.74%

Trade

Hyperliquid

HYPE

72.27

0.01%

Trade

↓

Is VeChain a Good Investment?

VeChain offers a unique suite of business facing products and services, and is expanding into new areas constantly. With it’s Thor blockchain and team of industry experts, it’s not entirely surprising that VET has cracked into the top 50 cryptocurrencies by market capitalization. 

If you think that VeChain’s products and services are genuinely useful, then investing in VET may be wise. VET is the token designed for market speculation, and has no governance power on the network. Because of this, you should remember that the tokens may not work for you. Compare their functionality to your investment style and if that will give you the diversity you’re looking for.

If you are a business who could benefit from the Blockchain as a Service products that VeChain offers, then an investment in VET will net you VTHO daily that your business could use. Remember, all crypto investments are speculative, even Bitcoin. You shouldn’t invest anything you aren’t comfortable losing.

Frequently Asked Questions

The post How to Buy VeChain (VET) by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

Benzinga’s top picks for the best cryptocurrencies on Robinhood include Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, Ethereum Classic and Bitcoin Satoshi’s Vision (BSV).

Robinhood, the popular commission-free trading app, has become a go-to platform for many investors looking to dip their toes into the world of cryptocurrency. With a user-friendly interface and easy access to a variety of digital assets, Robinhood has made it easier than ever to invest in cryptocurrencies.

To help you navigate the world of crypto trading on Robinhood, we have curated a list of the best coins worth considering for your crypto investment endeavors. From Ethereum (ETH) to Dogecoin (DOGE), this is the guide to the best cryptocurrencies on Robinhood. 

Best Cryptocurrencies on Robinhood

Here are some of the best cryptocurrencies available on Robinhood that you might want to consider adding to your portfolio:

Bitcoin (BTC)

Bitcoin was the first digital currency that used blockchain to create a distributed ledger. A ledger is a database that contains records of all wallet balances and historical transactions. By distributing the entire ledger across the network, no one person can create money out of thin air without being immediately discovered by all the others. 

Ethereum (ETH)

Ethereum was connected by Vitalik Buterin, who was an early member of the Bitcoin community. Buterin saw the power of decentralization on the blockchain and the success of Bitcoin as digital gold. He decided to make a more general-purpose blockchain. While Bitcoin’s blockchain is essentially a shared ledger, Ethereum’s chain acts more like a computer. The Ethereum network is actually a virtual machine – capable of much more than a simple ledger. Ethereum can run complex smart contracts, enabling a potentially infinite number of new decentralized financial (DeFi) applications. The DeFi industry is brand new and quickly evolving on the Ethereum blockchain. Billions of dollars have been locked in all sorts of DeFi protocols from automated market makers to lending platforms.

Dogecoin (DOGE)

For quite a while, Robinhood was the easiest way for retail investors to get their hands on Dogecoin. During the Dogecoin craze of early 2021, everyone and their mother were looking for exposure to their favorite dog coin, and Robinhood was the easiest place for crypto beginners to get access. 

Litecoin (LTC)

Litecoin is one of the Bitcoin forks available on Robinhood and was created as a payment currency similar to Bitcoin Cash. In crypto years, Litecoin has been around forever. Despite its relatively antiquated technology and its own founder selling out in 2017, Litecoin still hangs around the top 20 cryptocurrencies by market capitalization. More than likely, this is because of its lingering notoriety and widespread availability.

Bitcoin Cash (BCH)

Bitcoin Cash is a cryptocurrency created in 2017 as a result of a hard fork from the original Bitcoin network. Some early Bitcoiners thought Bitcoin’s throughput was too small to scale effectively as a global payment method. The community decided to fork away, and create their own blockchain designed for scale. They increased the size of each block from 1 megabyte (MB) to 32 MB, allowing for way more transactions per second. An increased block size comes at the cost of a more rapidly growing ledger, which becomes harder and harder for small-scale miners to store. Eventually, the database may become so large that only a few powerful miners control the network. If this were to happen, a 51% attack on the network would become a serious threat. 

Ethereum Classic (ETC)

Ethereum Classic is a fork of the Ethereum blockchain resulting from the decentralized autonomous organization (DAO) hack in 2017. The DAO was a crypto fund that was breached, and millions of dollars of Ethereum were seized by hackers. The tight-knit Ethereum community came together, and the majority was able to pass a vote to return the stolen Ethereum. However, some people in the community didn’t approve of this intervention. These folks decided to remain on the old branch of the chain where the hack was still relevant. This old branch is known as Ethereum Classic and still has some developers working on it today. While there remain some die-hard loyalists to Ethereum Classic, most of its relevance today is because of its availability on Robinhood.

Bitcoin Satoshi’s Vision (BSV)

Bitcoin Satoshi’s Vision was created by Craig Wright, who claims to be Satoshi Nakamoto. However, Satoshi Nakamoto owns 1 million marked bitcoin and could easily verify his identity by moving some of these funds. Obviously Wright is not Nakamoto, or he would have proven it. Similar to Bitcoin Cash, BSV is a fork of the Bitcoin blockchain. It comes at the bottom of this list for not having unique or innovative features on its blockchain, and it has vastly underperformed the general crypto markets in recent years.

Robinhood Crypto Review

With the expansion of the cryptocurrency markets in 2021, Robinhood is hard at work to add features regarding the asset class. While there aren’t many coins available on Robinhood at the moment, more may be added soon. Even with just a few coins, important cryptocurrencies like Bitcoin and Ethereum are accessible on Robinhood, and many investors choose to only invest in the top few coins, anyway.

The recent development of the Robinhood crypto wallet enables users to send, receive, stake and loan their crypto assets. With the amount of revenue that Robinhood has generated with the current version of its crypto product, you can be sure there’s more to come in the near future. 

Gain further insight into the platform’s features and offers by reading Benzinga’s review on Robinhood.

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Buying & selling Dogecoin

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Buying & selling Dogecoin

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Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Best For

• Fee-free trading
• Beginner crypto investors
• Doge day traders

Pros

• Commision-free trading
• Access to Dogecoin

Cons

• Limited altcoin selection
• No wallet capabilities

Other Cryptocurrencies You’re Missing out on

There are plenty of great digital assets to invest in that aren’t supported on Robinhood. Here are some coins that might be worth opening up on a different platform such as Coinbase: 

• Cardano (ADA): Cardano is a blockchain platform known for its secure and scalable infrastructure for decentralized applications (dApps) and smart contracts. It uses a proof-of-stake consensus mechanism and focuses on sustainability, scalability, and interoperability. The project has gained attention for its rigorous academic research and peer-reviewed approach to development.
• Polygon (MATIC): Polygon is a layer 2 scaling solution on the Ethereum blockchain that aims to improve scalability and usability. It offers faster transactions at lower costs through sidechains, Plasma frameworks, and Proof-of-Stake consensus. Popular among developers and users for its efficiency, Polygon has partnered with major projects and gained traction in the crypto space.
• Solana (SOL): Solana is a blockchain platform known for its high performance and scalability, offering high throughput, low latency, and low transaction costs. Its popularity in the DeFi space is due to its speed and low fees, attracting developers and users. Solana has a growing ecosystem of dApps and projects, positioning it as a significant player in the blockchain industry.

Store Your Crypto Safely

Crypto security is of the utmost importance as a long-term investor. Robinhood is a very secure platform, as it holds custody over users’ digital assets with industry leading encryption. However, if you decide to dive deeper into the crypto ecosystem, you’ll want a wallet to take custody of your own assets. Cryptocurrency wallets store the private key needed to authorize access to your wallet address on the blockchain. 

A typical crypto enthusiast will combine a cold storage, hardware wallet like Ledger with a hot, software wallet like ZenGo. The hardware wallet is like the safe in your basement, while the hot wallet acts as a daily carry wallet for trading and interacting with DeFi protocols like Uniswap and Aave.

Best For

ERC-20 tokens

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ERC-20 tokens

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Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.

Best For

• ERC-20 tokens
• All experience levels

Pros

• Easy to set up and use
• Supports more than 1,500 different digital assets
• Tamper proof
• Portable
• Long-lasting battery
• Bluetooth connectivity features

Cons

• Can be quite pricey

Best For

Web3 Security

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Web3 Security

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Zengo is the most secure crypto wallet in Web3. Leveraging MPC technology, Zengo removes the vulnerability of the need for a private key, making it much more secure than traditional crypto wallets. Zengo’s simple recoverability process makes it easy for anyone to access their crypto from anywhere, at any time. Because of Zengo, MPC technology usually reserved for multi-billion dollar institutions is now available to average crypto users.

Zengo is an Israel-based company that specializes in building products for blockchains with a passionate focus on user interface (UI) and security. Founded by Gary Benattar, Ouriel Ohayon, Omer Shlomovits and Tal Be’ery in 2018, their unique mix of security, engineering and cryptography expertise enabled the Zengo project to raise $20 million in series A investment.

The aim of the Zengo team is to make the crypto economy more simple and secure for everyday users, removing technical barriers to entry while maintaining the highest levels of safety. Zengo strives to support all relevant native crypto protocols, financial services and digital assets.

Best For

• Zengo’s friendly and intuitive interface makes the wallet a great choice for novice investors. Unlike many other cryptocurrency wallets, ZenGo removes many technicalities and complexities from storing cryptocurrency
• Zengo eliminates the vulnerability of having a private key. This makes it a phenomenal choice for novice investors who don’t want the burden of keeping their private key safe and secure

Pros

• Perfect for advanced traders
• Strong customer service — Zengo has live 24/7 customer support that can be reached via email, live chat or social media
• Strong security — three security factors (3FA) protect Zengo users
• No need for private keys — eliminates the risk of single point of failure, key hacking/phishing. At the same time, all actions are on-chain.

Cons

• While Zengo is available in 188 countries, some features are available only in certain locations
• For users that are willing to take the full responsibility of managing and storing their private key, ZenGo’s approach may be unfit

Cryptocurrency Price Movements

The crypto market has seen significant growth since the beginning of the year.

This is a result of various contributing factors, including the recent approval of spot Bitcoin ETFs and ETH ETFs and the recent Bitcoin halving which happened in April. The global crypto market capitalization is sitting around $2.06 trillion, with Bitcoin owning over 56% of the share. However, regulatory uncertainty remains a potential concern for the market. For up to date crypto prices, check out our table below.

Invest in Crypto with Robinhood

Robinhood Crypto is a valuable platform for anyone looking to trade cryptocurrencies without paying high fees. Whether you are a beginner just starting out or a seasoned investor looking to diversify your portfolio, Robinhood Crypto offers a user-friendly interface, educational resources, and a variety of top cryptocurrencies to choose from. Consider using Robinhood Crypto for your cryptocurrency trading needs and take advantage of the benefits it has to offer.

The post Best Cryptocurrencies on Robinhood by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

Want to start cryptocurrency mining on your PC? You can use Kryptex to start crypto mining and earn passive income in seconds!

Have you ever wondered how cryptocurrencies like Bitcoin are created? Cryptocurrency mining is a crucial aspect of how these digital currencies come into existence. It may sound like a complex process, but once you understand the basics, you’ll see how it plays a key role in the functioning of the cryptocurrency ecosystem.

What is crypto mining? Should you become a miner? Or is there a better way to make money from cryptocurrency? Get a clear understanding of cryptocurrency mining with this detailed overview, covering the basics, technology, and profitability of mining different cryptocurrencies.

What is Cryptocurrency Mining and How Does It Work?

Crypto mining is the process of verifying blockchain transactions for a reward. Miners are paid for their work, kind of like how Visa takes a cut for verifying credit card transactions. The difference is, crypto miners are random individuals all over the world. When a group is properly incentivized at scale, the verification becomes theoretically “trustless”. This was Satoshi Nakamoto’s genius idea that made Bitcoin a global phenomenon.

Every few minutes, crypto miners all across the world reach consensus about the current “state” of the network. From recent transactions to the balance of every wallet, state data is aggregated in a size and time restricted “block”. When the network agrees on all the data in the most recent block, they “chain” it to the previous blocks and collect the network reward for keeping the data in check.

Users of any given blockchain network, be it Bitcoin or Ethereum, must pay a transaction fee to the miners for their services. This fee, along with a hard-coded block reward, makes mining a lucrative business to be in. Becoming a miner has never been easier in the history of digital investing, and you can get started in minutes.

What’s the Purpose of Crypto Mining?

To better understand cryptocurrency mining, let’s get some blockchain basics out of the way. 

People all around the world contribute their computer’s power to a shared global computer (blockchain) in exchange for payment. Mining is the process of contributing power, and miners earn a network fee along with newly minted coins. Think about the blockchain like Amazon Web Services, but powered by the people instead of Bezos. No central company or government owns or controls the blockchain, it’s decentralized.

• Decentralized. Anything not controlled by a single central entity or group. 
• Blockchain. A decentralized global computer assembled by people all over the world and accessible to anyone with internet connection and some money.
• Hashing. Hashing is the process of compressing data into an irreversible jumble of bits. Each set of data has a unique hash; changing the data will require computing a new hash value.

Mining is the process of validating and recording new transactions on a blockchain, as well as hashing them to prevent shenanigans from sliding under the radar. However, depending on the consensus mechanism of the blockchain, typically proof of work or proof of stake, the mining process will be different.

What’s the Incentive for Crypto Mining?

Validating and recording all the new cryptocurrency transactions that come across the network is not an easy task. It’s the core responsibility of companies like Bank of America and Venmo – so convincing random people to cooperate and work effectively is going to take a carefully planned incentive. 

The rules of any successful decentralized system must be created in such a way that it is in the best interest of random people around the world to help maintain it. 

Satoshi Nakamoto incentivized people to maintain Bitcoin’s blockchain by rewarding them with newly-minted Bitcoin. This created a permanent and transparent inflation strategy that gave crypto miners confidence their work will be rewarded with a currency worth holding.

Who Mines Cryptocurrency?

Miners are the people who dedicate significant computing power (often entire buildings full of dedicated mining computers) to solving hashing puzzles in order to add new blocks to the blockchain. Miners who have less computing power often join mining pools; this way, users can earn a more steady stream of income from mining.

If you mine crypto with just a few mining computers, then you should join a pool. If you mine independently, you’re essentially playing a game of luck. You’ll have a very slight chance of solving a block on Bitcoin’s blockchain, and if you do, then you’ll receive the entire block reward of 6.25 bitcoin. However, this is extremely unlikely, and you’d be better off joining a pool to receive a steady stream of a small portion of block rewards.

Proof of Stake Blockchains

Proof of stake blockchains are also verified by a decentralized community, but without the intensive computing. Instead of mining, proof of stake chains employ “validators” who stake money to earn more. Validators stake or lock up money for the right to validate a chunk of blockchain interactions, and earn the network fees associated. These fees add up quickly, and can earn a validators between 5-20% annual yield on their staked value.

With added benefits like quick transaction times, cheap transactions and sustainability, cryptocurrencies are turning to proof-of-stake consensus to power their blockchains. Proof-of-Stake doesn’t require computer processing power to secure blocks on the blockchain; instead, proof-of-stake uses financial stake to incentivize users to work in the best interest of the token or project.

Ethereum’s upgrade to proof-of-stake with its ETH2 upgrade went live on March 2024. Staking Ether tokens on Ethereum 2.0 can earn you mining rewards that equate to about 7% annual interest. This interest is paid in Ethereum, so if the price of the token appreciates, then your interest rate will effectively be higher. You can sign up for Gemini to begin staking Ethereum today, or you can join the staking waitlist on Coinbase to stake Ether on the platform once approved.

Best For

New Investors

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Get started securely through Gemini Crypto’s website

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. 25% or less

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0.00001 BTC

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Gemini Trust Company LLC is a cryptocurrency exchange that supports trading in over 70 assets. While its selection of cryptocurrencies is limited compared to some competitors, Gemini excels in account security and regulatory compliance. The platform offers additional features such as a cryptocurrency rewards credit card, a built-in hot wallet, and the ability to pay crypto at various retailers. These tools and services make Gemini a robust choice for both new and experienced traders seeking a secure trading environment.

Best For

• Beginner-friendly platform offering handsome educational resources.
• Strong security features, including staking options.

Pros

• Gemini operates as a fully regulated cryptocurrency exchange.
• It accepts clients from the U.S.
• The platform employs stringent cybersecurity measures to protect users’ funds.
• Gemini is well-capitalized and adheres to banking regulations.

Cons

• Gemini is available in 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore and South Korea.
• It offers fewer crypto assets to trade, with just over 70 available.

Best For

Active Crypto Traders

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Get started securely through Coinbase’s website

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$0

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Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Mining: Building a Blockchain

A blockchain “block” is a chunk of data containing two things:

1. Some relevant data to be added to the database. (For example, all the bitcoin transactions that occurred within the last 10 minutes.)
2. The hash value and ID of the block before it in the chain.

By including the hash of the block before it, each block is “chained” to the block before it – all the way back to the beginning. An edit to any historical block will require recomputing every hash that comes after it. Recomputing every hash would take years, and everyone else on the network would immediately notice. Security via math!

To add a new block to the blockchain, a computational ‘puzzle’ must be solved to compress the blocks data into a 256-bit hash except it’s not exactly a puzzle. Mining is the act of finding the hash – a task that is not so easy. Crypto miners essentially guess numbers until they randomly get it right. Imagine trying to guess a 256-bit number! The first miner to successfully hash the block, making it safe to share across the internet, is awarded crypto for their work. The winner shares their results with all the other miners, who verify the encryption is safe and the work is done. This is called “proof of work.” Once verified by the other miners, the winner securely adds the new block to the existing chain, and all the other nodes update their copies.

The Halvening

You many have heard of the Bitcoin “halvening”. Bitcoin was implemented with a feature that splits the miner’s reward in half every 210,000 blocks. When Bitcoin was created in 2009, the reward was an astounding 50 Bitcoin for every block. 

Bitcoin has halved a total of four times since then, leaving the current reward at 3.125 BTC as of April 2024. Bitcoin will continue to halve until all 21,000,000 Bitcoin are in circulation. Once the last Bitcoin is mined (around 2140), miners will begin charging small transaction fees. 

Mining Pools

Many individual miners lack the necessary equipment to ever mine a block on their own. To still have a chance at making some profits, they join mining pools. These pools allow miners to combine (or pool) their hashing power and split the earnings. Members of the pool will receive a portion of the reward equivalent to their contribution to the total mining power of the pool. 

These pools are controversial in the community as they tend to centralize power rather than further decentralization. 

Source

Mining Computers

The rules of the crypto mining incentive system dictate that those with the fastest computers make the most money. This has started a computational arms race across the world. 

Most computers are capable of mining Bitcoin, but aren’t efficient enough to profit (earn a reward more than the cost of the electricity usage required to attain it.) This is why areas with the cheapest electricity costs have the highest concentration of mining power. 

GPU Mining

What is mining? It can be a lucrative way to enter the crypto market, but it’s not the same for everyone. Nearly any computer can run crypto mining algorithms, but some are much better than others. A modern computer has a CPU (central processing unit) and a GPU (graphics processing unit). If the CPU is the brain of the computer, then the GPU is the muscle. CPUs are designed to perform a wide range of tasks quickly whereas GPUs can split tasks up across hundreds of cores processing thousands of threads at a time. This means that GPUs can use all those cores to guess hashes much faster than the few cores a CPU has can, making them drastically better hardware for mining.

Modern GPUs like the GTX 3080 are powerful and efficient enough to make mining profitable – even in the United States, where electricity costs are typically really high.

ASIC Computers

As Bitcoin mining grew in popularity, mining companies like Bitmain and Antminer emerged to build and sell specialized computers that could only perform 1 operation: mining. 

These ASIC (application specific integrated circuit) computers began to dominate the network power, and people began to collect hundreds of them to start mining “farms”. 

ASIC computers are so specialized that they can often only mine one specific token. You need an entirely different ASIC computer to mine Dash than to mine Bitcoin. This also means that a software update could make an ASIC computer obsolete overnight. 

ASIC vs. GPU Mining

ASIC computers are entirely useless for anything other than crypto mining – but they smoke every GPU on the market. Mining with ASIC computers carries more risk than GPUs, but it’s much more cost effective. ASIC computers comprise the majority of mining power on most blockchains, including Bitcoin. 

Certain miners and mining pools with the largest ASIC operations tend to centralize mining power on the network. For this reason, Ethereum and many other cryptocurrencies are designed to prevent ASICs from mining on their network. By only allowing GPU mining, it becomes much more expensive to dominate the network. 

Pros and Cons of Cryptocurrency Mining

Pros

• Potential for high profits: Cryptocurrency mining can be extremely lucrative, especially if you have access to cheap electricity and powerful mining hardware. With the right setup, miners have the potential to earn significant profits by mining popular cryptocurrencies like Bitcoin or Ethereum.
• Decentralized currency: Cryptocurrencies are decentralized, meaning they are not controlled by any government or financial institution. This can be attractive to individuals who prefer a currency that is not subject to centralized control.
• Technological advancements: Mining cryptocurrency requires advanced technological know-how, which can be a great learning opportunity for individuals interested in technology and blockchain technology.

Cons

• High Start-Up Costs: Setting up a profitable cryptocurrency mining operation requires a significant investment in mining hardware, electricity costs, cooling systems, and maintenance. For many individuals, the high start-up costs can be a major barrier to entry.
• Energy Consumption: Cryptocurrency mining is energy-intensive, requiring large amounts of electricity to power the mining hardware. This can be a significant drawback, especially in regions where electricity costs are high.
• Difficulty and Competition: As more individuals and companies get involved in cryptocurrency mining, the difficulty level of mining increases, making it harder to mine cryptocurrencies and earn profits. The competition in the mining industry can be fierce, especially for popular cryptocurrencies like Bitcoin.
• Regulatory Risks: Cryptocurrency mining is still a relatively new and unregulated industry, which means there are regulatory risks involved. Governments around the world are still determining how to regulate cryptocurrencies, which can create uncertainty for miners.

Should You Mine Crypto?

If you have a PC with a modern GPU, you should consider using it to make money while you aren’t using it yourself. It’s easier than you might think!

ASIC mining is not for everyone. Unless you live in China, the cost of your electricity usage is probably too expensive for you to consider mining at a large scale. 

But don’t lose hope, there might be another way to profit off of your newfound mining knowledge.

1. Proof-of-stake. Ethereum 2.0 promises to eliminate the need for expensive mining equipment. Instead of a race between the miners to secure the data, miners will stake Ether in order for the right to secure a portion of the transactions. 
2. Rent mining power. NiceHash is one of the largest mining pools in the world. They offer a service to rent mining power produced by machines in countries with low electricity costs. This way you can mine without ever getting technical.
3. Invest in the industry. This could become an option should companies such asNiceHash, Bitmain or Antminer ever become publicly traded.

The cryptocurrency industry is still young, and mining has a long way to go before reaching maturation. Whether or not you should pursue an investment related to mining is up to your risk tolerance. Nearly any industry this new and underdeveloped is likely to contain a lot of uncertainty, but with uncertainty comes the potential for profit. Just be careful. 

Frequently Asked Questions

The post What Is Cryptocurrency Mining? by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

Want to jump straight to the best crypto apps? Some of the best crypto apps are Plus500, Coinbase, Uphold, Coinmama and eToro.

With dozens of ways to trade, earn, invest and manage your cryptocurrency investments, cryptocurrency apps simplify the complexities of the cryptocurrency markets. Finding the best crypto app can make a significant difference in how you manage and track your investments. From intuitive user interfaces to advanced security features, the right app can streamline your trading experience and help you make informed decisions.

We’ve reviewed a ton of crypto apps, from portfolio trackers to exchanges, to find out which applications are most helpful. Read on to learn about the best app for crypto trading to make your crypto investment journey more manageable.

Best Cryptocurrency Exchange & Broker Apps

Best For

Crypto Futures

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Disclosure: 81% of accounts lose money

Best For

Crypto Futures

N/A

1 Minute Review

Plus500 is a multiasset platform that allows you to trade in everything from crypto and CFDs or forex to future, options and more. You can build a crypto portfolio, learn about each token and grow your holdings all in one place. Please note that USDT is not available on Plus500.

Best For

• Crypto CFDs
• Multiasset trading
• Easy to build a portfolio

Pros

• Quality web-based application
• Quality information on all assets
• Fast execution
• Plus500 offers three platforms: Plus500 Futures, Plus500 Invest and Plus500 CFD.

Cons

• Not all tokens you prefer may be available
• Keep in mind that futures are available to U.S. residents while CFDs are not available for U.S. residents.

Best For

Active Crypto Traders

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earn free crypto securely through Coinbase’s website

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Disclosure: Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

Best For

Active Crypto Traders

N/A

1 Minute Review

Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Best For

Social Investing

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Disclosure: Take 2 mins to learn more at https://etoro.tw/44JRWLY. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

Best For

Social Investing

N/A

1 Minute Review

eToro crypto offers access to wide range of tokens, investment opportunities and educational tools for investors of all styles and levels of experience.

Best For

• Investors looking to CopyTrade other traders
• Simple user interface

Pros

• Several major cryptocurrencies and altcoins
• Expansive network of social trading features
• Large client base for new traders to imitate
• 100+ coins available

Cons

• PayPal and Credit Card are not available for UK and FCA users

Best For

Buying & selling Dogecoin

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get started securely through Robinhood’s website

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Buying & selling Dogecoin

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Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Best For

• Fee-free trading
• Beginner crypto investors
• Doge day traders

Pros

• Commision-free trading
• Access to Dogecoin

Cons

• Limited altcoin selection
• No wallet capabilities

Best For

A Fast Trading Experience

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get started securely through Uphold’s website

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Disclosure: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

Best For

A Fast Trading Experience

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Uphold is a unique broker that makes it easier than ever for you to trade on the crypto market, with quite a lot of information and access to cryptocurrencies that will help diversify your portfolio.

Uniquely, Uphold just released the option for a Trailing Stop Order. Unlike a Stop Order, which only protects you from losses based on purchase price, a Trailing Stop Order readjusts to the highest price after you buy. Therefore, you will follow the market up while the “going’s good” and get out if the price starts falling further than you’d like.

Also, ATOM is now a Tier 3 token, meaning that you can make deposits and withdrawals to and from the Cosmos Network.

Best For

Pros

Cons

Best For

High Spending Limits

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get started securely through Coinmama’s website

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High Spending Limits

N/A

1 Minute Review

Coinmama prioritizes convenience, security, and efficiency in its cryptocurrency exchange. Customers buy and sell directly with the company, so orders fill instantly and without any hassle. 

While you’ll need to get a crypto wallet from another company, the ability to buy and sell seamlessly and securely through Coinmama’s platform makes crypto trading easy and safe.

Best For

• Crypto traders who want instant transactions and immediate access to their crypto
• Buyers who want to buy coins with a credit or debit card

Pros

• Fills orders and sends your coins in minutes
• Wide variety of payment options accepted
• Generous loyalty program that provides serious discounts to qualifying customers
• Fast and friendly customer service

Cons

• 3rd-party crypto wallet required to actually receive your coins.

Best For

Active Traders

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get started securely through Webull’s website

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Active Traders

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Webull is a commission-free trading platform designed with both beginner and advanced investors in mind. Offering an extensive range of assets like stocks, ETFs, and futures, Webull makes it easy for users to manage their investments through a highly intuitive interface. With educational resources, paper trading options, and no minimum account balance required, Webull caters to those looking to start investing without high upfront costs. The platform’s mobile app ensures that users can trade anytime, anywhere, making it a flexible choice for those with busy lifestyles. Webull’s customer service options are limited, and the platform may feel overwhelming to those completely new to investing.

Best For

• Commission-free trading
• Mobile and desktop trading
• Beginners and experienced traders alike

Pros

• No commissions on trades
• Extensive range of tradable assets
• Easy-to-use mobile app

Cons

• Limited customer service options
• Learning curve for complete beginners

Best For

Holding Crypto

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get started securely through public.com’s website

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Holding Crypto

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Public.com is an investing platform that helps people be better investors. Members can build a diverse portfolio of stocks, ETFs, crypto, and soon NFT’s, art, & collectibles, all within a single platform. In addition to being an all-in-one platform, Public gives you all the information you need to make the right investment for you. This includes access to advanced data, custom company metrics, and expert analyst insights through their Public Premium membership. It doesn’t end there, in addition to the research and data on Public, you also have access to an interactive community filled with millions of investors, creators and analysts.

Public puts investors first and doesn’t sell trades to market makers or take money from Payment for Order Flow (PFOF).

 

Best For

• Holding Crypto

Pros

Cons

Best For

Saving, Investing & Spending

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get started securely through Fierce’s website

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Saving, Investing & Spending

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Fierce is a financial platform that you can download in the form of an app to your mobile device and unlock a range of tools. You get a free debit card with access to over 55,000 fee-free ATMs nationwide, the option for fractional stock trading, crypto trading, a high APY on savings and wealth tracking all in one place.

Best For

• The app allows you to handle all your money in one place
• No fees
• No lockups

Pros

• Invest on the app
• High APY
• Spend as needed

Cons

• No physical locations

Best For

Broad Range of Crypto Assets

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Get started securely through Paybis’s website

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Broad Range of Crypto Assets

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1 Minute Review

While cryptocurrency has become mainstream, providing a means of livelihood for millions of traders and investors globally, only a few platforms offer streamlined access to the market. Most major exchanges require time-consuming setup or registration and verification processes and high minimum buying or trading amount, which limits accessibility, especially for beginners and undercapitalized traders. If you’re a beginner trader or crypto enthusiast seeking fast access to the crypto market, Paybis presents an excellent choice.

Established in 2014, Paybis has gained recognition for its easy-to-use platform, instant cryptocurrency purchase, simple setup and verification process, responsive customer support and extensive support for digital assets. The platform aims to simplify converting fiat currencies into cryptocurrencies, streamlining market access to diverse investors globally. With Paybis, you can buy Bitcoin and over 80 other cryptocurrencies using your credit /debit card or any preferred payment method. Paybis supports over 60 fiat currencies, including USD, GBP and EUR, from countries around the globe.

Paybis’s straightforward, hassle-free and secure trading approach has earned the trust of over 1.8 million users worldwide, with an annual transaction volume running into hundreds of millions of dollars. You can buy Bitcoin within moments of landing on the site or setting up your account; it is that simple. Paybis is regulated by The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), meaning the platform takes adequate measures to protect your funds. Paybis is available in over 180 countries and continues to expand in terms of assets, users and jurisdictions. Read on for a comprehensive review of this platform, its services and how it compares to similar platforms.

Best For

• Beginner crypto traders or investors looking for a user-friendly platform with an easy setup and verification process
• Crypto enthusiasts seeking access to a broad range of crypto assets, including popular ones like Bitcoin and lesser-known coins and tokens 
• Investors or traders with limited budgets looking for a platform that offers a low minimum amount per transaction with lightning-fast crypto payout or transaction settlement 
• On-the-go traders seeking a simplified mobile app with easy-to-use features and responsive customer support to facilitate seamless trading or investing regardless of location or time

Pros

• Supports over 60 fiat currencies worldwide, including USD, EUR, JPY and GBP
• Supports over 80 cryptocurrencies, including major cryptos like Bitcoin and Ethereum 
• Lightning-fast crypto purchase with instant payout
• Round-the-clock and highly responsive customer support
• Low minimum buying amount facilitating accessibility by undercapitalized investors
• Well-regulated by multiple and reputable regulatory bodies including FinTRAC
• Simplified and easy-to-use interface for seamless buying and selling experiences
• Straightforward and fast setup and verification processes
• No hidden fees and multiple payment options
• Available in 180+ countries and accessible in 9 languages
• Simplified mobile app wallet for on-the-go access

Cons

• Relatively high transaction fees
• Lacks advanced trading tools and features
• Users can only sell 10 cryptocurrencies

Cryptocurrency exchanges are the most common type of crypto app and are the most important too. They allow you to buy and sell cryptocurrencies using USD (or any other fiat currency that the exchange supports), BTC, ETH and many other currencies. You can connect your bank account through ACH or use a credit card or debit card to buy crypto on most exchanges.

If you’re located in the United States, Uphold and IBKR Crypto are great options for low-cost crypto trading app. IBKR also brokers stocks, so you can manage all your digital assets all in one place. Uphold is a solid choice for investors buying into cryptocurrency over the long term, as the app lets you earn high interest on your cryptocurrencies. It is one of the best crypto apps overall because it is absolutely packed with functionality. You can trade cryptos, stake for an APY, trade precious metals and more, all in the same platform. For non-U.S. users, OKX and Binance are two of the most popular exchanges with a much wider range of both supported countries and tradable cryptocurrencies.

Best Cryptocurrency Wallet Apps

Best For

ERC-20 tokens

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buy now securely through Ledger Hardware Wallet’s website

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ERC-20 tokens

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1 Minute Review

Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.

Best For

• ERC-20 tokens
• All experience levels

Pros

• Easy to set up and use
• Supports more than 1,500 different digital assets
• Tamper proof
• Portable
• Long-lasting battery
• Bluetooth connectivity features

Cons

• Can be quite pricey

Best For

Web3 Security

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get started securely through ZenGo’s website

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Web3 Security

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Zengo is the most secure crypto wallet in Web3. Leveraging MPC technology, Zengo removes the vulnerability of the need for a private key, making it much more secure than traditional crypto wallets. Zengo’s simple recoverability process makes it easy for anyone to access their crypto from anywhere, at any time. Because of Zengo, MPC technology usually reserved for multi-billion dollar institutions is now available to average crypto users.

Zengo is an Israel-based company that specializes in building products for blockchains with a passionate focus on user interface (UI) and security. Founded by Gary Benattar, Ouriel Ohayon, Omer Shlomovits and Tal Be’ery in 2018, their unique mix of security, engineering and cryptography expertise enabled the Zengo project to raise $20 million in series A investment.

The aim of the Zengo team is to make the crypto economy more simple and secure for everyday users, removing technical barriers to entry while maintaining the highest levels of safety. Zengo strives to support all relevant native crypto protocols, financial services and digital assets.

Best For

• Zengo’s friendly and intuitive interface makes the wallet a great choice for novice investors. Unlike many other cryptocurrency wallets, ZenGo removes many technicalities and complexities from storing cryptocurrency
• Zengo eliminates the vulnerability of having a private key. This makes it a phenomenal choice for novice investors who don’t want the burden of keeping their private key safe and secure

Pros

• Perfect for advanced traders
• Strong customer service — Zengo has live 24/7 customer support that can be reached via email, live chat or social media
• Strong security — three security factors (3FA) protect Zengo users
• No need for private keys — eliminates the risk of single point of failure, key hacking/phishing. At the same time, all actions are on-chain.

Cons

• While Zengo is available in 188 countries, some features are available only in certain locations
• For users that are willing to take the full responsibility of managing and storing their private key, ZenGo’s approach may be unfit

Best For

Easy Secure Storage

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Get started securely through Tangem’s website

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Easy Secure Storage

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Tangem Wallet, the convenient and secure hardware crypto wallet, is revolutionizing the way individuals store and manage their cryptocurrency. By uniquely combining smartcard-based hardware with mobile technology, Tangem wallet removes the vulnerability of a seed phrase, making it a safer and easier option than traditional crypto wallets.

Tangem Wallet was developed by Tangem, a high-tech company in the blockchain sector that was founded in 2017. The company is headquartered in Zug, Switzerland, with branches in Eastern Europe, North America and APAC. Tangem has already established numerous partnerships with household names both within and beyond Web3, including Samsung, Visa, Cardano and GBBC. 

The team behind Tangem aims to bring cryptocurrencies to the masses in a secure and simplified manner, eliminating technical obstacles while ensuring the highest levels of safety.

Best For

• New investors who may not have the expertise or desire to ensure the safety and security of a private key
• Crypto investors who want to trade on a cell phone
• Crypto investors looking for the least clunky hardware wallet on the market

Pros

• No need for a seed phrase
• Lower risk with single point of failure, phishing or hacking
• All actions are on-chain
• Secure and reliable chips used for biometric passports have the same security as the chip in the Tangem card
• Supports thousands of cryptocurrencies simultaneously in one place

Cons

• Only comes in packs of 2 and 3
• Risk of losing the card and your crypto funds
• Does not support iPhone models before IOS 13 or devices that lack NFC support

A crypto wallet stores the private key needed to unlock funds from your wallet address on the blockchain. Most expert traders don’t recommend holding your coins in an exchange if you don’t plan on using them for day trading. Best practice would be using a hardware wallet like the Ledger Nano X or the Trezor T for longer positions. Ledger wallets are physical devices, but they also offers a mobile app for increased functionality.

A hybrid wallet gives you software access so that you can store your tokens and save for the future. Ledger wallets also have similar integration with Metamask, the most popular software wallet. To get the most utility out of your cryptocurrency, a hybrid wallet is often the best choice.

If you plan on actively using crypto, you may also want a hot wallet app like ZenGo or MetaMask. Just note that your life savings should probably not be stored in hot wallets. This is because they aren’t as secure as hardware wallets.

To check the balance of your funds stored on the hardware wallet, a crypto portfolio tracker can satisfy cravings to check your crypto, but we’ll get to that later. For now, you’ll want to set yourself up with a wallet that lets you control your private keys, unlike an exchange. Funds kept in a cryptocurrency exchange wallet are more vulnerable to hacks, and the exchanges often do not provide you with your own private key – meaning the funds are not truly yours in the case of an emergency.

Best Crypto Portfolio Tracker Apps

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Enhanced Security Measures

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get started securely through CoinStats’s website

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Enhanced Security Measures

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CoinStats provides powerful and unique insights into users’ crypto portfolios. The site offers several features, including transaction analytics, instant notifications and fast trading. Users can connect their favorite wallets and exchanges within minutes and begin using the platform.

The site also offers up-to-date news to keep traders informed. This news is created by the CoinStats team and can help traders make better investments with a more thorough knowledge of the markets. CoinStats also collects news from over 40 sources to provide a powerful information service for its users.

Best For

• Crypto traders using several exchanges
• Conducting advanced crypto research
• Enhanced security measures

Pros

• Military-grade encryption of crypto assets
• Earn up to 20% APY by staking
• Allows traders to simplify their crypto portfolios
• Live cryptocurrency price data

Cons

• Premium features require a paid subscription
• Advanced features can be confusing for some beginners

Best For

Altcoin Traders

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get started securely through AltFINS’s website

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Altcoin Traders

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altFINS is a cryptocurrency analysis and trading platform that allows users to scan, analyze and execute trades in a vast number of digital assets. AltFINS’s impressive technical analysis tools help crypto traders take advantage of trading ideas across various exchanges. 

The platform’s tools include more than 60 different analytics like the relative strength index (RSI) and moving averages (MAs) computed in as little as five-minute time intervals. These useful indicators can be applied to thousands of altcoins and crypto trading pairs. You can also access altFINS’ crypto screener, which lets you create unique screening criteria and save your own custom files.  

 

Best For

• Cryptocurrency traders
• Altcoin traders
• Novice traders

Pros

• Excellent crypto trading platform
• Advanced technical analysis features
• Extensive knowledge base
• Crypto trading course
• Customizable settings

Cons

• Limited features available to free users

Best For

Tax report generation

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get started securely through Accointing’s website

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Best For

Tax report generation

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Accointing isn’t your conventional crypto tax preparation tool —   it’s an online tool that lets you manage your cryptocurrency taxes and portfolio with ease. Crypto professionals and enthusiasts can leverage this robust solution as a one-stop-shop for crypto management needs.

Accointing provides an insightful dashboard, available in both desktop and mobile, to track your performance and transactions in real-time with a breathtaking user experience. Beyond providing the easiest way for connecting your wallets through CSV or API, Accointing also supports over 300 exchanges.

The platform also doubles up as a cryptocurrency portfolio tracking dashboard. You can import all transactions automatically via Wallet address, API Connect and manual input, as well as review your historical performance and analyze your portfolio gains and losses.

Think of Accointing as an all-in-one cryptocurrency tracker and tax report generator. Its intuitive interface is easy-to-use for both novice and pro crypto holders. Anyone can access most of the platform’s free features, but tax report generation is provided through affordable subscription tiers.

Best For

• Novice and professional crypto holders
• Tax report generation
• Cryptocurrency portfolio tracking

Pros

• Easy-to-use interface
• Supports over 300 wallets and exchanges
• More than 7,500 currencies supported
• Available for desktop and mobile
• Print an unlimited amount of reports
• Helps you track your cryptocurrency portfolio

Cons

• You’ll probably don’t need all its features

Best For

Portfolio tracking

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get started securely through Kubera’s website

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$15 per month or $150 per year

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If you’ve tried to keep track of all your financial assets, investments, cryptocurrencies, credit card debt, mortgages, auto loans, real estate etc. and their values in order to get an accurate net worth, then you know how difficult it can be to keep current.  Kubera is a revolutionary online service that lets you track all of your assets in one place.

Best For

• Those who want an online only service
• Investors to track assets

Pros

• Tracks cryptocurrencies, as well as traditional investments.
• Connects to over 20,000 different banks worldwide.
• Values assets like your home, car and Internet domains.
• “Dead man’s switch” feature lets you leave access to your beneficiary.

Cons

• No mobile app currently available.

Best For

Multi-Asset Investors

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Download for free securely through Delta Crypto’s website

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Multi-Asset Investors

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Delta by eToro is an iOS and Android app that keeps track of your cryptocurrency holdings and trades in real-time on your mobile device. Delta was started in October 2017 and sold to eToro in November 2019. 

The Delta by eToro app is highly rated as the best and most intuitive app of its kind, both for its functionality and its interface. The app monitors the latest values of Bitcoin, Litecoin, Ethereum and over 7,000 altcoins and charts cryptocurrencies and your positions in your local fiat currency. You can set alerts on the app and keep track of cryptocurrency news on the app’s news feed so you don’t miss out on any potential trading opportunities. 

The app has support from more than 300 cryptocurrency exchanges and includes a portfolio manager that keeps track of your cryptocurrency portfolio’s value with its profit/loss shown for the last hour, the previous 24-hour period, the last week or since you began trading. The portfolio manager also generates a personal portfolio graph where you can see the progress of your positions in BTC, ETH or any fiat or cryptocurrency. 

Delta also allows you to set up unlimited different portfolios that let you track portfolios from different owners or that use different strategies. The app gives you a detailed overview of asset splits, sources and locations, the most used exchanges and the status of your positions. 

Delta also lets you customize your own personalized watchlists and market overview, and the app automatically generates personalized notifications based on your behavior using it. If you use several devices for your trading, Delta lets free users keep 2 devices in sync, while PRO users can have as many as 5 devices synced.

Best For

• Cryptocurrency traders with multiple portfolios
• Frequent crypto traders
• Those who require detailed cryptocurrency market and portfolio analysis on-the-go

Pros

• Over 7,000 supported cryptocurrencies
• Multiple crypto portfolio tracking capability
• Simple setup for connecting wallets and exchanges
• Personalized notifications and watchlists
• Companion desktop version for Windows, Mac and Linux OS

Cons

• PRO upgrade somewhat costly
• Buy/sell prices not auto-populated when entering new trades

A cryptocurrency portfolio tracker is a type of app that shows your real-time information on cryptocurrency prices. Any exchange will feature this information but having an individual tracker app can also be beneficial. This is especially the case if you don’t hold your funds on an exchange (or use a bunch of different exchanges), as you won’t be able to see your crypto holdings if this is the case.

For example, if you prefer to store your crypto in a hardware wallet but you still want to keep up with price movements throughout the day, choosing a simple tracker app is less complicated than signing up for an exchange. You might also want to trade on multiple exchanges and see the “big picture” with an app like altFINS. While this app is just the beginning of the list, remember that it can also teach you more about trading cryptocurrency and how to build an amazing portfolio. 

Another great crypto tracker app that lets you track hundreds of cryptocurrencies is Delta –– it’s easy to download and free to use.

Best Crypto Interest Earning Platforms

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get started securely through Uphold’s website

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Disclosure: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

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A Fast Trading Experience

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Uphold is a unique broker that makes it easier than ever for you to trade on the crypto market, with quite a lot of information and access to cryptocurrencies that will help diversify your portfolio.

Uniquely, Uphold just released the option for a Trailing Stop Order. Unlike a Stop Order, which only protects you from losses based on purchase price, a Trailing Stop Order readjusts to the highest price after you buy. Therefore, you will follow the market up while the “going’s good” and get out if the price starts falling further than you’d like.

Also, ATOM is now a Tier 3 token, meaning that you can make deposits and withdrawals to and from the Cosmos Network.

Best For

Pros

Cons

Crypto interest earning platforms allow you to earn income on your digital assets passively. This makes it a great option for long-term investors. The greatest power in finance is compounding interest and that’s what you get with crypto staking. While decentralized apps let you earn a staked APY on crypto, they require cryptocurrency wallets and typically charge high transaction (gas) fees. Generally speaking, it’s easier for beginners to get started earning passively on crypto through a centralized platform, such as Uphold. Uphold is one of the best cryptocurrency exchanges on its own and offers less risky staking than some of the crazier DeFi pools you may have heard of. It also offers a great staking service that supports a large variety of popular cryptos.

Types of the Best Crypto Apps

There are a handful of tools that can simplify the life of a crypto trader or investor. The major categories that we’ll cover in this guide are exchanges, wallets and portfolio trackers. If you’re completely new to cryptocurrency, the video below will help you get ready to use the best crypto apps. The 1st crypto app you’ll need on your phone is an exchange. This is how you’ll be able to onboard cash to cryptocurrency.

What to Look for in a Cryptocurrency App

No matter the sort of cryptocurrency app you need, there are a few things you should be looking for in the best crypto app when you compare all of your options. 

• High-level security: Bitcoin and other cryptocurrency transactions are difficult to tracand once made, it is almost impossible to get the money back. Due to the decentralized nature of the blockchain, it is hard to identify owners of wallets. This makes cryptocurrency attractive to criminals. Before you download any exchange or wallet app, review the company’s safety features. Look for 2-factor authentication and back-end encryption to keep your tokens as safe as possible. Three apps that stand out thanks to their security are MoneyLion, CoinStats and IBKR Crypto.
• Real-Time Data: Cryptocurrency markets are constantly changing, with prices fluctuating rapidly. It is important to stay updated to make informed trading decisions. Whether you want a comprehensive cryptocurrency trading platform or a simple tracker that lets you know how your favorite coins are doing, look for real-time data and information. Moreover, digital currency is so volatile that you want to have data you can compare to the blockchain.

Decentralized Applications (dApps)

If you’re an intermediate or advanced user of cryptocurrency, you probably have taken advantage of decentralized apps on Ethereum, Avalanche, or Solana. Decentralized applications are built directly on the blockchain and are peer-to-peer services facilitated by smart contracts. These apps go far beyond the traditional idea of mining being the only “pastime” in the crypto space.

dApps have many advantages over normal crypto apps. This includes security, anonymity and efficiency. dApps like Aave and Curve let investors earn high interest rates for staking crypto on Ethereum’s blockchain. Using dApps can be risky, however. Many investors have lost their funds due to hacks and scams. Stay vigilant and make sure to your follow your risk-tolerance.

Get Started in Crypto

Start investing in cryptocurrency with ease, especially using some of the best crypto apps listed above. Cryptocurrencies are the new frontier of finance. However, it’s important to remember that the realm of cryptocurrency is also very volatile. Many cryptocurrencies are decentralized by nature, giving them a shot at becoming a true “people’s currency”, even connecting to a debit card and offering a product catalog that’s worthy of the user.

Only invest what you’re prepared to lose and be an informed customer. You can turn digital currency into an integral part of your portfolio, but you should invest with the company that works best for you.

Also, diversify your portfolio if you’re planning to buy and sell cryptocurrency. Want to learn more about crypto trading? Check out Benzinga’s guides to the best crypto exchanges and best crypto wallets.

Frequently Asked Questions

The post Best Crypto Apps of June 2024 by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.

As the 2021 bull run continues to heat up, new cryptos find themselves in the spotlight each day. There are a few, however, that haven’t quite kept up. Litecoin reached an all time high of $420 in 2017, and has yet to make its way back. While many consider Litecoin to be a dead currency, supporters claim they hold it for transactional purposes, and latch on to its fundamental strength.

Ethereum is a decentralized global computing platform, and the most actively developed project in the blockchain space by a wide margin. Ethereum erased it’s 2018 all time high ($1,420) by February of 2021, and hasn’t looked back since. In fact, it now trades for nearly triple that. The outlook for Ethereum has never been higher as Vitalik and his team take on the most challenging problems the intersection of politics, finance, philosophy and computer science have to offer.

What are the similarities and differences in the fundamentals of these projects, and why isn’t Litecoin seeing the same gains as its old rival, Ethereum?

Main Takeaways: Litecoin vs. Ethereum

• Both cryptocurrencies have fast transaction time and can be traded on most major exchanges. 
• Ethereum excites developers and is loved for its ability to transfer property, while Litecoin is primarily viewed as a transactional currency.

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get started securely through Gemini Crypto’s website

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New Investors

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Gemini Trust Company LLC is a cryptocurrency exchange that supports trading in over 70 assets. While its selection of cryptocurrencies is limited compared to some competitors, Gemini excels in account security and regulatory compliance. The platform offers additional features such as a cryptocurrency rewards credit card, a built-in hot wallet, and the ability to pay crypto at various retailers. These tools and services make Gemini a robust choice for both new and experienced traders seeking a secure trading environment.

Best For

• Beginner-friendly platform offering handsome educational resources.
• Strong security features, including staking options.

Pros

• Gemini operates as a fully regulated cryptocurrency exchange.
• It accepts clients from the U.S.
• The platform employs stringent cybersecurity measures to protect users’ funds.
• Gemini is well-capitalized and adheres to banking regulations.

Cons

• Gemini is available in 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore and South Korea.
• It offers fewer crypto assets to trade, with just over 70 available.

Best For

Crypto Futures

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Get Started securely through Plus500’s website

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Disclosure: 81% of accounts lose money

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Crypto Futures

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Plus500 is a multiasset platform that allows you to trade in everything from crypto and CFDs or forex to future, options and more. You can build a crypto portfolio, learn about each token and grow your holdings all in one place. Please note that USDT is not available on Plus500.

Best For

• Crypto CFDs
• Multiasset trading
• Easy to build a portfolio

Pros

• Quality web-based application
• Quality information on all assets
• Fast execution
• Plus500 offers three platforms: Plus500 Futures, Plus500 Invest and Plus500 CFD.

Cons

• Not all tokens you prefer may be available
• Keep in mind that futures are available to U.S. residents while CFDs are not available for U.S. residents.

Best For

Altcoin Traders

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get started securely through Binance’s website

Best For

Active Crypto Traders

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earn free crypto securely through Coinbase’s website

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Disclosure: Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

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Active Crypto Traders

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Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.

Best For

• Coinbase is best for beginners because of its user-friendly interface.
• The availability of over 30 products caters to the needs of traders of every mindset.

Pros

• Coinbase offers a learn and earn program.
• You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
• Offer a wide variety of altcoins.
• Ideal for new investors.

Cons

• Complicated fee structure
• Does not support margin trading (only 3x on Pro version)

Best For

Buying & selling Dogecoin

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get started securely through Robinhood’s website

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Buying & selling Dogecoin

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Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.

Best For

• Fee-free trading
• Beginner crypto investors
• Doge day traders

Pros

• Commision-free trading
• Access to Dogecoin

Cons

• Limited altcoin selection
• No wallet capabilities

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What is Litecoin?

Introduced in 2011 and described as a clone of Bitcoin, Litecoin began with the Bitcoin codebase. However, Litecoin brings a few unique traits of its own. Among its distinguishing features is a finite supply of 84 million coins compared to Bitcoin’s 21 million.

The cryptocurrency can also be mined up to four times faster than Bitcoin, which means that transactions settle faster because the process of mining involves verifying transactions and adding them to the cryptocurrency’s ledger. Litecoin is often referred to as the cryptocurrency equivalent of silver (Bitcoin is gold). As such, Litecoin often targets smaller transactions.

However, both Bitcoin and Litecoin can be subdivided up to eight decimal places. In today’s transactions, the smallest units are not currently in wide use. If or when the value of these cryptocurrencies increases well beyond their current values, the smaller increments will become more useful. Litecoin uses SegWit (Segregated Witness), a technology that allows more transactions within a block, which speeds up the processing time for individual transactions. Slow transaction completion times have been one of the leading criticisms of Bitcoin compared to alternatives.

Litecoin can’t yet support smart contracts, which are computer programs that live on the cryptocurrency’s blockchain and govern transactions or perform other functions. Active development for smart contracts is centered on Ethereum.

Endurance

Since Bitcoin was invented in 2009, many cryptocurrencies have come and gone but Litecoin’s endurance may speak to its future longevity.

Government regulation of currencies or bans are also a concern. The fact that Litecoin has survived this long (since October 2011) and that it is one of the few currencies that has been available on the highly-selective Coinbase exchange could indicate a better future than other altcoins.

A potential risk of owning Litecoin is that one of its main selling features, SegWit, a method of shrinking transaction sizes, is being considered for Bitcoin as well, which would eliminate a significant advantage of Litecoin. However, SegWit has been a topic of spirited discussion within the Bitcoin community for years and may never be added to Bitcoin.

Like many cryptocurrencies, Litecoin enjoyed a massive runup in price at the end of 2017 and into early 2018. Prices have fallen since that time but remain substantially higher than early 2017 levels.

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What is Ethereum?

Ethereum was the brainchild of Toronto programmer and Bitcoin enthusiast Vitalik Buterin. In 2013, he released a white paper about Ethereum, detailing the potential uses of an alternative blockchain technology that could work as both a financial instrument and decentralized platform for developers to build applications.

More developers joined ranks and Ethereum had momentum and a growing community of high-tech enthusiasts. By 2015, Ether was a live cryptocurrency powering the Ethereum blockchain. Since its beginnings just a few years ago, ETH has grown into the second-largest cryptocurrency by market capitalization. 

Bitcoin was built as a cryptocurrency platform. Ethereum is a decentralized application platform — one that also hosts a cryptocurrency, a fuel for the network. The difference may seem like semantics, but the distinction is a large part of why Ethereum has had such wide adoption in such a short amount of time.

Ethereum’s smart contracts are code that lives and executes on the blockchain and can facilitate monetary exchanges, or transfer content, property, shares, or other items of value based on a set of rules built into each contract. Many think that we’ve only scratched the surface of what can be done with Ethereum as a platform, comparing the current uses and applications to the early days of the internet and dial-up modems.

Similarities Between LTC and ETH

• Both Litecoin and Ethereum are traded on Coinbase. Coinbase works in a similar manner to a market maker on stock exchanges, purchasing from sellers and selling to buyers at prices that approximate the real-time trading price. GDAX is the exchange’s platform for advanced traders. Both platforms offer Bitcoin, Litecoin, and Ethereum.
• Litecoin and Ethereum provide fast transactions. Bitcoin is slow, although still faster than many traditional bank transfers. Both Litecoin and Ethereum enable faster transactions than Bitcoin, but they use different approaches to speed those transactions. Regardless of the technical details, a faster transaction time helps a currency to be viable.

Differences Between LTH and ETH

• Litecoin is primarily viewed as a currency — a transactional supplement to Bitcoin. Both were inspired by Bitcoin, with Litecoin as a fork of Bitcoin. (A fork is a divergence of existing open-source code to start a new project or related project.) However, Litecoin and Ethereum have taken very different directions in development. Litecoin is a faster and cheaper version of Bitcoin and Ethereum and attracts the attention of developers who see more applications for the platform.
• Ethereum is on a roll. Rising from white-paper obscurity, the ambitious dream of a young coder, to the world’s second largest cryptocurrency is an impressive feat and speaks to the enthusiasm the community has for Ethereum and its long-term applications. With the ability to host applications, store data, transfer value, and communicate — all on the blockchain — it’s not surprising that Ethereum has captured the imagination of investors and developers alike.

Final Thoughts

While it is impossible to predict the future of the cryptocurrency bull run, it is apparent that Ethereum as a project and foundation has much stronger fundamentals and progress than Litecoin. While there are a few people who still hold Litecoin, LTC’s failure to reclaim its 2017 price by the end of April is a clear indicator of a dying currency. However, that doesn’t mean that there isn’t still money to be made.

Ethereum is the clear winner of this battle, and a much safer investment relative to LTC. It is important to remember that we are still in the very early days of crypto, blockchain and smart contracts – so all investments should be categorized as speculative. Don’t invest any money you can’t afford to lose.

Want to learn more? Check out Benzinga’s guides to the best cryptocurrency exchanges, the best cryptocurrency wallets and the best blockchain books.

Frequently Asked Questions

The post Litecoin vs. Ethereum by Logan Ross appeared first on Benzinga. Visit Benzinga to get more great content like this.