Once a niche interest, nowadays cryptocurrency is big business and growing daily. Here’s how crypto has shaken up the world and some of its best apps in 2022.
Global Impact of Crypto
Not so long ago, fiat currencies were the only currency game in town. The arrival of cryptocurrency might be the biggest change since the ancients started minting gold coins over two and a half thousand years ago. E-wallets facilitated easier online payments decades ago and remain popular. Still, crypto cut out the use of dollars, pounds, and euros altogether, replacing them with Bitcoin, Ethereum, etc. A fundamental difference is that this electronic form of money is backed up by recent blockchain technology, thought to be far more secure than either paper money or other forms of online finance.
Crypto also functions increasingly as a stock asset to be traded, with huge interest driven by its rising popularity and a high degree of volatility, which means there’s a high potential (and risk) associated with trading. Exchanges and signals operators have risen to meet this demand. On the other hand, crypto is also used in pretty much the same way as fiat currency by those who get paid in it and go shopping with it, as support for Bitcoin (easily the market leader) and other coins continues to broaden.
The electricity required for mining has an environmental impact that raises questions about the practice’s sustainability and moral acceptability. Especially in the latter half of 2022, with inflation high and largely driven by rising food and fuel prices.
Rising Use of Crypto in Many Industries
This rapid growth in the availability of crypto means that, for some people, it is now the primary way they handle finances both online and in the real world. Many mainstream economies are accepting crypto as accepted payment method. Not only is shopping possible at many places using Bitcoin and other types of crypto, but it’s also the way that trading in NFTs (non-fungible tokens) occurs, and increasing numbers of people get paid in cryptocurrency these days. Among the many activities for which crypto can be used is even online betting, which is another flourishing part of the internet. Bitcoin and other crypto currencies are a widely accepted payment methods at most of the online casinos. Some of them even offer crypto bonuses, among the many various promotions. For those concerned about the potential risk of incurring losses, there is a safe way to play, and that is with no deposit bonuses. Taking advantage of promotions such as those which comprise this list of top-rated no deposit bonuses means that real cash prizes can be won, but no deposit is needed, thus evading any risk of loss. Prizes indeed tend to be capped at one or two hundred dollars (specifics vary, of course), but it’s still a great deal because there’s a chance of finishing ahead, and the worst scenario is finishing where you started.
There are many crypto exchange marketplaces where you can buy and sell cryptocurrencies. If you are interested in buying and selling, you need to open an account at some of the crypto exchanges. We present you some of the most popular ones.
Crypto exchange and brokerage eToro is one of the most popular trading apps available for those intro cryptocurrency in 2022 and has tens of millions of active users. It’s well-suited for beginners thanks to accepting various funding sources, including traditional credit cards and e-wallets. In addition, accounts can be opened with as little as $10 of funding, so it can be a good way of dipping your toe in the crypto pool and seeing if it’s for you. The flat 1% commission fee is easy to understand and has a great copy trading feature. Users can mimic the trading activity of established professionals and thereby benefit vicariously from their experience.
The world’s biggest cryptocurrency exchange is Binance, and, unsurprisingly, this also makes it one of the top picks for crypto apps in today’s market. One of the best advantages of using Binance is that the fees are very low, making it ideal for those who do not want their trading profits to be gnawed by excessive fees. Certain transactions (Bitcoin fiat-stable coins) are even fee-free. For those seeking more advanced trading potential, Binance offers derivatives like futures and leveraged tokens, and there’s an NFT marketplace for fans of non-fungible tokens.
It’s worth remembering that while cryptocurrency is highly secure, the services and businesses involved, whether retailers or exchanges, can still be subject to hacks and other threats. In October 2022, Binance had to suspend transactions following a security breach.
Another user-friendly option for those entering the crypto world for the first time is the trading platform Coinbase. In the US, it’s one of the most popular apps for crypto trading. The simplicity of the offering makes Coinbase so convenient to use, and it’s geared very much toward newcomers. There is a downside in relatively high fees, but the upside of being a great place to learn the crypto ropes still makes it an excellent first step on the crypto journey. There’s also a huge selection of crypto to buy and sell.
Another top trading app for crypto in 2022 is Crypto.com, which is an attractive proposition thanks to its impressively low fees (note that depositing fees vary according to the method and are higher for credit/debit cards than bank transfers). Crypto staking (making money from holding rather than trading crypto) is another perk of using Crypto.com, and there are over 250 coins to buy and sell. On top of that, the app has an associated Visa rewards credit card.
There’s no shortage of exchanges, platforms, and signals apps for crypto, and those above are some of the most popular this year.