While this seems simple, it can actually be an enormously valuable product in a market as volatile as cryptocurrency.
You pull it up, see what you own and how each of those products is doing. Instead it specializes in tracking the contents of your portfolio. Portfolio tracking can be an essential way of weeding through market data.Ī tracking app is one which doesn’t just track the crypto market at large (although many do offer this feature). Pros: A wealth of information and a well designed interface make this a great product.Ĭons: That well designed interface can only go so far, and Coin Metrics can be fairly dense and hard to use at times. Why: Research the market and your options before making a trade, or obsessively re-research the market after sending in your orders. But for users who want to learn as much as possible during their morning commute, the Coin Metrics app is a winner. At a certain point access and sophistication conflict, Coin Metrics errs on the side of giving you more data. Their data isn’t always the easiest to wade through, but in part that’s the nature of the product. They not only offer an enormous and robust set of data, but do so in a way that is clean and relatively accessible to the average user.
There are hundreds, if not thousands, of websites dedicated to tracking and analyzing the cryptocurrency market.Īmong these, Coin Metrics stands out. Investors who want to do research into the crypto market will have an embarrassment of riches.
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Pros: Spending crypto by just scanning a QR code on the Gemini app is as easy as using any mobile wallet on the market.Ĭons: Relatively few businesses still accept cryptocurrency in exchange for goods and services, and you will still have to deal with lengthy transaction times due to the nature of crypto itself.
This app makes it much easier to actually use your crypto as a currency. Why: Spending cryptocurrency can be a very real challenge. If you want to buy a cup of coffee (or a car) with Bitcoin, this might be the app for you.
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Its QR-based software makes it easier than just about ever before to actually spend cryptocurrency on products and services in the real world. (Although readers interested in crypto as a currency should also be extremely careful about the volatility of this asset class.)įor our purposes, the Gemini app is particularly useful as a spending tool. Readers who are interested in cryptocurrency as a currency, not just an investment asset, should check out all of these products. The platform offers a trading exchange, banking products with interest and even lending through its Gemini credit card. Gemini, named after a well-known constellation, is steadily becoming a well-known part of the crypto world. Ultimately the point of this service is to store the long alphanumeric string that secures access to each of your crypto tokens. These can be as elaborate as encrypted pieces of dedicated hardware or as simple as a piece of paper stuck inside your literal wallet. Pros: Coinbase is one of the most highly rated cryptocurrency exchanges out there, and their app is well designed for doing light research and executing trades.Ĭons: While very well regarded, Coinbase is more expensive than many competing exchanges, and the app’s emphasis on ease of use makes it harder to do more sophisticated research.Ī crypto wallet is how you store your cryptocurrency keys. Why: Quick access to trading, which can be very useful for an extremely volatile asset class. And if you’re going to hold a cryptocurrency trading app in your pocket, then Coinbase is the one to choose. This is an asset class marked by its extreme volatility, such that many traders would be well served to have the tools for quick day trading in their pocket. Cryptocurrency, however, is a little bit different. The gamification of investing has not done anyone any favors. Ordinarily this writer strongly argues against app-based trading.