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23 Nov 2022

Top 5 Trading Applications To Elevate Your Trading Portfolio

There’s a lot of profit that can potentially be made through investing in crypto, despite the risks involved. Naturally, there are millions of people around the globe keen to start a crypto portfolio and elevate it to the next level.

But when it comes to doing it correctly, an equal number of people sadly don’t know how. That’s where we come in to help. The key to any successful crypto journey starts with choosing the right trading application to buy, sell, trade, and invest in cryptocurrencies.

But with so many trading applications out there, not to mention a plague of scam platforms currently on the market, it can be a daunting task for a new investor to know where to even begin. If you can relate, don’t worry! Because after this article, you won’t have that problem.

Today, we’ll reveal five unmissable trading applications you can use to start and skyrocket your trading portfolio. Our team has tried and tested all the applications, and we left no stone unturned to uncover the good, the bad, and the ugly when it comes to the world’s trading applications for investing in crypto.

Now, without further ado, let’s begin!

Bitcoin Loophole

First up is Bitcoin Loophole. Ever tried to invest in Bitcoin but have just been overwhelmed by the daunting new world? Well, there’s a convenient loophole!

Bitcoin Loophole has been taking the hard work out of finding a solid crypto broker and avoiding the bad ones by designing a simple-to-use algorithm for its users. All they need to do is sign up, provide some basic details, and let the computer do all of the hard work. It’s that easy!

The end result? You get paired with a world-class cryptocurrency broker loaded with beginner-friendly tools and the ability to elevate your crypto portfolio seriously. In short, this is one of the most popular trading applications, according to the chatter in various crypto circles.

Pros:

         - The simple registration process takes a few minutes to complete.

         - A streamlined and beginner-friendly site that anyone can use regardless of experience.

         - The ability to connect its users with world-class brokerages can seriously transform how people trade crypto.

Cons:

         - No mobile app at present, but it can be used on any mobile browser.

Coinbase

Even if you’re completely new to the world of crypto trading, the term Coinbase has probably come up on your radar recently as it’s a highly advertised platform. This well-established cryptocurrency exchange has made great strides in bringing crypto mainstream and assisting it with being viewed as a legit form of currency (which it certainly is).

When it comes to the difficulties involved in getting into the crypto sphere, Coinbase has played a massive role in vanquishing them. Signup is easy and the platform caters for both beginner and advanced traders. The interface is easy to use and navigate, regardless of your skill level or experience.

Plus, the Coinbase exchange is packed with articles, videos, and other valuable info that newcomers can check out to advance their trading knowledge and understand how to make a success of their foray into crypto trading potentially.

When it comes to the important topic of security, Coinbase is up there with the best. The exchange utilises two-factor authentication and locks away 98% of crypto held on the platform offline to counter the growing threat of crypto hacks plaguing many crypto trading applications.

Pros:

         - World-class levels of online security are implemented in the platform.

         - A huge range of resources to take your trading into the future.

         - Easy to navigate for various skill levels

Cons:

         - The fees for using Coinbase can be pretty high compared to similar platforms.

Binance

Regarding trading applications according to their trading volume, Binance takes the top spot as the biggest worldwide. As well as low fees, Binance is known for its immensely useful (and highly profitable) native token called BNB.

Interestingly, Binance’s fees start low initially but actually get even lower in sync with your increasing trading volume. Not bad, right?

With a Binance account, users can take advantage of the opportunity to invest in more than 115 different crypto assets. For an added touch of convenience, you can buy them directly using U.S. Dollars and save yourself a significant amount on currency conversion fees.

In addition, Binance offers a wide range of tools, such as stop loss and take profit tools. This means you can practically automate your trading based on your pre-defined trading goals.

Pros:

         - High levels of online security are implemented across the platform.

         - When buying crypto with U.S. Dollars, Binance offers very affordable fees.

         - A huge range of cryptocurrencies for users to invest in. 

Cons:

         - You cannot trade crypto-to-crypto on Binance.

         - Fees can be high if you don’t buy crypto directly with USD.

Crypto.com

The other trading platforms we’ve discussed on this list all have reliable security features implemented, but crypto.com takes this to the next level. Nowhere is this backed up better than in its recent first-place win in the  Cybersecurity Ranking and CERtification Platform’s top 100 exchanges by cybersecurity rating.

But how did crypto.com seize first place? The platform uses many methods to ensure its client’s crypto stays secure on the platform.

Firstly, all crypto on the platform is securely stored offline in cold storage. Secondly, the crypto.com software regularly undergoes peer reviews to ensure its security. And lastly, it implements a fool-proof multi-factor identification.

But of course, crypto.com is more than just a secure platform; it has an enviable supply of cryptocurrencies which numbers over 250 digital currencies.

Another popular feature is its crypto via cards, allowing users to spend their crypto like fiat currency. In return, they can earn interest in a cryptocurrency of their choice.

Pros:

         - The chance to spend crypto on day-to-day purchases through a crypto visa card and earn interest in return.

         - A highly secure platform that carries out regular mock attacks to ensure its cybersecurity protocols are watertight. 

         - Users don’t have to pay any fees to take advantage of accounts.

Cons:

         - According to different regulations, the features aren’t available in all states and territories. 

Immediate Edge

Storming into first place is the platform that is taking the crypto world by storm. It’s one you’ve probably heard of already, Immediate Edge!

This cutting-edge platform has been making waves amongst the crypto community for months now, thanks to its ability to be the middleman between ordinary crypto investors and elite-tier brokers, offering the chance to seriously overhaul any portfolio.

Some of the brokers offered through Immediate Edge have to be seen to be believed. Some offer a social trading feature that lets you follow some of the world’s greatest investors in a social-media style. When they make a trade and profit, guess what? So do you!

In addition, Immediate Edge’s broker partners also boast demo trading accounts that allow you to get the hang of the fast-paced world of crypto trading using dummy currency before putting your real money on the frontline of trading.

Pros:

         - One of the most beginner-friendly platforms out there, with a flawless registration process and a streamlined interface that anybody can use.

         - An exceptionally low minimum deposit is required to start trading crypto with one of their world-class brokers compared to similar platforms that demand unrealistic minimum deposits.

         - A high level of cybersecurity protocol is implemented across the platform and the partner brokers it works with.

Cons:

         - Limited information about the founders of the platform. 

To Sum Up, What Makes a Great Trading Application?

From Bitcoin Loophole to Immediate Edge, we’ve traversed the landscape of trading applications to discover which ones are best to use and which are best to be avoided. But at the end of the day, what makes a great trading application?

Whichever trading app, exchange, or broker pairing service you use, you should ensure that it has a good level of cybersecurity, a wide range of cryptocurrencies to choose from, a reliable background and history, and a beginner-friendly system to use.

The modern crypto world is plagued by scams and illegitimate platforms seeking to take advantage of new and inexperienced investors. Whatever your experience in the crypto market, always maintain a keen eye for these illicit websites and apps.

Even if you think a website, platform or app looks like the real deal, be aware that some cunning copies are out there looking to lure people in. Check for spelling mistakes in the URL and dodgy-looking logins, and ensure a valid SSL certificate is installed on the site before proceeding with any form of sign-up.

Always be aware of the risks involved in this volatile space when trading in the crypto market. Cryptocurrencies can skyrocket to eye-wateringly high prices, and the sky is the limit regarding profit. However, this volatility can go both ways, and massive losses are not unheard of.

Put simply; nothing can be predicted in the crypto market. So, trade responsibly and seek out the advice of a licensed financial professional before investing for the first time. A good rule of thumb recommended by many financial and crypto experts alike is to limit the crypto in your portfolio to 5% of your total investments.

 

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