Cryptocurrency, Blockchain, NFTs, and Metaverse are some of the latest buzzwords you’d hear in today’s digital space and you’d like to get started with this new wave.
However, the fast pace somewhat daunting technicals coupled with the heap of misconceptions and bad rep digital assets have gained over the years can make it seem somewhat hard to get started.
But not to worry in this article, we are going to break down 7 easy to use apps you will need in order to kickstart your journey into the world of crypto today
Let’s get started
- A Crypto Wallet
- A Cointracking platform
- A DEX or CEX platform
- Security App
- Digital asset portfolio Manager
- Social Media apps
- Crypto News App/website portal
1. Crypto Wallet
A crypto wallet is an equivalent of your physical wallet, with the primary function of storing, receiving and transferring your digital assets be it tokens, coins, NFTs etc
Therefore a crypto wallet is a secure, digital wallet that stores your cryptocurrencies, NFTs, and various types of digital assets.
Crypto wallets can generally be divided into two categories: software and hardware wallets with their respective pros and cons but in this article, we will skew our focus to a mobile hosted wallet.
It is worth noting that Binance holds your private key and even though there are some pros and cons to this type of wallet, it is simple and easy to get started with.
Learn how to register and verify your Binance account, and set up your wallet to get started with your crypto journey today
For users who’d like to own and control their private and public keys and funds, Trust wallet is a good option, read the full review and setup here
2. Coin tracking Apps
Another type of tool you will need in your everyday crypto journey is a coin tracking platform. Think of this as the Google of crypto.
In this example, we will go with coinmarketcap (CMC) (Referral ID – 5B4Z7JGI)
Coinmarketcap was Founded in May 2013 but is now owned by the largest crypto exchange, Binance.
CoinMarketCap has quickly grown to become the most trusted source by users, institutions, and media for comparing thousands of crypto assets, it currently houses over 16,762 (as at the time of this writing) crypto assets.
Another good resource in this category will be Coingecko (CG)
3. A DEX/CEX Platform
A crypto exchange is a platform on which you can buy and sell cryptocurrency.
You can use exchanges to trade one crypto for another — converting one coin to another, — or even to buy crypto using regular currency, like the U.S, GHS etc
Remember earlier on we touched on wallets, most people tend to confuse exchanges with wallets as most exchanges also provide wallet services
Centralized exchanges as the name goes has a central authority that is responsible for facilitating your transaction on the platform.
Most CEX also provides wallet services to help your store, trade, send and receive your coins, here again, Binance is a good exchange of a centralized exchange, as a newbie, a centralized exchange is the most preferred and recommended option for you
A Decentralize exchange is what it is, there is no middleman or central authority that facilities transactions as everything is done with smart contracts and code
An example of a DEX is Pancakesap (Binance blockchain), Uniswap (Ethereum blockchain)
4. Two Factor Authenticator App
It goes without saying that crypto has to do with money, transactions, authentication and authorization hence security should never be taken for granted. Aside from the usual login and password provided by apps, one should ensure to always have 2FA enabled on most of these platforms and applications
Two-factor authentication (2FA), sometimes referred to as two-step verification or dual-factor authentication, is a security process in which users provide two different authentication factors to verify themselves.
5. Digital Asset Portfolio Manager
Managing digital assets should be part of your arsenal when kicking off your crypto journey as it will help you organize your portfolio in an organized and track your investments, evaluate your strategy and create watch lists of potential new opportunities you are doing in the market without being all over the place scouting from wallets to wallets to check on every coin and investment.
Again here in this category, I will recommend you go with Coinmarketcap’s portfolio manager as I personally love the UI/UX and how sleek it manages assets with various types of charts and representation.
However, there has recently been noticeable glitches in prices with the app lately however it still stands tall in my opinion
6. News/Blog Portals
Right off the back, the number one driver of market price in the crypto world is news. Good news drives the prices of tokens up, bad news does the reversal, so much so there’s a popular crypto phrase coin ‘buy the rumour, sell the news’.
Follow top crypto news and blog sites such as Hodlerslab, Cointelegraph, decrypt, Watch Guru to stay in tune with all the latest trends in the market that affect prices
7. Social Media Apps
Crypto prices, news and trends are widely driven by communities. Therefore it is apt that you be in tune with these apps and social media platforms
Facebook & Instagram are some of the least used platforms when it comes to community building in the crypto sphere. Apps like Twitter, telegram, discord, Reddit rule supreme in this space cos of the very nature of crypto being anonymous and cryptic.
Speaking of building community, you may want to join ours to get daily information and updates on exciting topics such as this, it is simply @Hodlers And Traders Hub on all social media platforms
Although there are a lot more tools and applications you’d need as you head on deeper into this space, however for an absolute newbie, these 7 tools will help you get started in the right direction.
If you have other apps, tools and websites you’d like us to take a look at, comment below