Crypto Platforms- Which one to Use?

As cryptocurrency craze has spread like wildfires, more and more people are getting into the world of cryptocurrency investment. According to different sources like Financial Times and Yahoo Finance, the number of crypto investors are only 100 million around the world which is only 1.2% of the world population. In U.S., it is 14% of the population who are investing, trading or holding some form of cryptocurrency.

There are people still unaware of how to invest in crypto, just like me when I thought of investing in cryptocurrency, I had no idea which platform to look for. Since, I invest in stocks so I was looking for crypto investments in E*TRADE and other stock apps like Acorns, Betterment and etc. Some of the crypto apps in U.S. available are:

1. Robinhood – At the beginning, I started investing with Robinhood since the transactions are free. In this app, you can invest in both stocks and crypto. In Robinhood, there is no personal crypto wallet so no stacking facilities are available. Staking generally refers to the holding of the cryptocurrency funds in a wallet and this supports the functionality of a blockchain system and the cryptos are being locked in their wallets by the stakeholders. They are then rewarded by the network in return.  In Robinhood, there are few crypto available to invest like : Ethereum, Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum Classic, Dogecoin and Litecoin.

2. Gemini – This is another popular app in US available for crypto investment. One can buy, sell and stack crypto. One can receive and send different crypto from different wallets which is unavailable in Robinhood. There is a transaction fee in

Stacking

As mentioned earlier, there is a stacking option available so one can a reward for stacking each crypto depending on the APR% as seen below. Also, some companies take crypto as payment, so those option are available. Note: There is a transaction fee for each transactions done (buying and selling) depending on the amount. For example: If $20 worth crypto is bought and sold then the transaction fee is $1.49 which is 7.45% fee and if $1000 of Litecoins is bought then the transaction fee is $14.99 which is 1.49%. So, higher the transaction amount, the fee is lower.

3. Coinbase:- Another popular app for investing in crypto, similar like Gemini, stacking option is available but only for some crypto. There is a transaction fee similar to Gemini. Sending and receiving crypto from other wallets are available, in addition; sending crypto using email option is available.

There are some other options available in coinbase which are my favorite like converting from one crypto to another, and the transaction fee is very low. One of the best way of getting a new crypto on coinbase.

Source: Faisal Photography

Stacking

There is a stacking reward for some of the crypto like Dai, Cosmos and Algorand depending on the APR%

Source: Faisal Photography

Learning Rewards

There are also rewards for learning some new crypto available in coinbase, this option is available for Coinbase users in US, Europe but not in UAE as noticed.

UAE

There are some apps available for US users like Celsius, Voyager and Binance US but these apps are not available in some of the US states like New York.

As I travel to UAE, coinbase UAE only allows sending and receiving options. The popular app in UAE is Bitoasis and Binance

Turkey

Binance is a popular app to invest in crypto in Turkey as some of the Turkish friends have mentioned to me.

Malaysia

In Malaysia, Binance and Huobi are the popular apps to invest and trade crypto.

As more countries are opening for crypto, then more apps and sites will be available for crypto trade. Since, I am based in U.S. these are some of the apps I have come across and been investing crypto. In other parts of the world like Malaysia, UAE and Turkey, those are the above platforms available as my knowledge. Would like to know more in other countries which apps and platforms are used.