How to Pick a Cryptocurrency App

If you have a high-risk tolerance for your investments, cryptocurrency might be worth checking out. It’s still quite a speculative investment though, so when you do decide to take the plunge, you should only use reputable apps and exchanges. First, let’s look at how to pick a crypto app or exchange.

• Platform security. You want an app or exchange that has private insurance and keeps a majority of its assets offline so that it can’t be hacked or stolen.

• Diversity. You’ll want a wide selection and variety of coins.

• Crypto coin interest. Look for an app or exchange that offers you a way to earn interest on your investments.

• Trading fees. You want to find an app that charges zero or low fees for trading, depositing, and withdrawing.

• Customer support and reviews. Make sure the app or exchange has good customer support. Look to see if it has ever been hacked and check consumer reviews. If something seems off, move on to another app.

Now that you know some things to look for in a crypto app or exchange, here are some you might consider using:

• Gemini. Has high-interest rates and a simple interface.

• Robinhood. Crypto trading is commission free and you can also invest in traditional stocks and options.

• SoFi. Diverse crypto offerings and low fees.

• Coinbase. A wide variety of crypto offerings and you can earn free crypto by taking educational courses.

Cryptocurrency investing is a speculative, volatile, and high-risk investment. SavvyMoney provides information for educational purposes only. Do your own research and consult with your tax and financial professional before making any investment.