Looking for the best apps to buy stocks and crypto? Navigating the world of both cryptocurrencies and stocks can be challenging, but there are some platforms that incorporate these worlds into an easy, seamless experience. Read on as we break down their pros, cons, fees, and other important factors.
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How To Sign Up For a Crypto and Stock Trading App
Here’s the good news:
The steps for signing up for a crypto and stock trading app are very similar for most of our favorites on this list. All of the processes are secure and fairly intuitive.
That said, there are some subtle differences to look out for, as minor (yet important) processes do differ from one platform to the next. Just be aware that some steps might be a little different from the description here and you should be fine. Let’s get into the general sign-up process and how it all works.
Step 1: Visit the site and download its app
The first step in signing up for a crypto and stock trading app is to visit its site and download its app from your device’s app store. The exact procedure depends on the specific app and whether you’re downloading it on an Android or iOS device.
Step 2: Fill out personal information and verify your identity
You’ll need to provide your personal information to verify your identity. This typically includes your address, full name, date of birth, email, and phone number. In some cases, they may even request your occupation and source of funding. Additionally, you may have to provide pictures of an identity document, such as your driver’s license, passport, or national ID card.
Step 3: Wait for your identity verification to be completed
Once you’ve filled in all your personal info and uploaded the required documents, you will have to wait for the platform to verify your identity before you can start trading or investing in crypto and/or stocks.
This can take a few minutes, hours, or even days, depending on the platform and the accuracy of the information and documents you provided. We found that identity verification often takes between two and four hours, provided that all the information has been filled in correctly.
Step 4: Funding your account
Once your identity has been verified by the platform, you can deposit funds. This can typically be done through an “Add Funds’’ or “Deposit’’ button. With some apps, you may need to link a bank account or card during this step.
Depending on the crypto and stock trading app you’re using, the funds may be instantly available, or the transfer may need to settle first. For example, with Wealthsimple, you can deposit up to $1,500 instantly. Once the funds are available in your account, you can make your first crypto stock trade or investment.
Step 5: Make a trade
Once the funds are available in your account, you can make your first trade. This can be done as a market or limit order, depending on the app you’re using. In some cases, your account will need to be verified first.
Personal tip: Make sure to double-check that you are completely satisfied with the amount you are buying and the associated fees, then submit your order. The app will execute the trade automatically, and the asset will be in your account when the trade has completed.
My Overview
“In my opinion, dual-trading apps have come a long way in the last few years. Be sure to pick apps that offer seamless integration for both stocks and crypto.”
Best Apps to Buy Stocks: Our Favorites
When choosing the best apps to buy stocks, there are plenty to pick from. This is why we’ve carefully examined the features and functionalities of the leading brands to give you a comprehensive list of excellent all-rounder platforms. We also made sure they offer dual-functionality with your crypto assets.
The best stock apps should have top-of-the-range features, are easy to navigate, secure, and offer various crypto and stock options. They also shouldn’t break the bank. We are here to make money, after all. Take a closer look at these apps that tick all the boxes.
eToro
eToro originally launched in 2007 for trading stocks, CFDs, and other traditional financial assets. These days, it is a top contender for the best app for buying stocks and just top trading apps in general. It accepts credit cards, debit cards, and wire transfers as payment methods and doesn’t charge any deposit fees.
The eToro trading app is available for US, UK, and many European users, but Canadians are unfortunately excluded from the list. The app provides access to stocks, ETFs, and cryptocurrencies, and also provides a social trading aspect, allowing users to copy each other’s trading strategies for free.
As of this writing, eToro offers 130 crypto coins and tokens on its platform, with staking options for Ethereum, Cardano, and Tron. It is also possible to use eToro Money in certain countries, which allows you to use your eToro account as a cryptocurrency hot wallet.
Why choose eToro?
My experience using eToro: I recommend picking eToro as a stock and crypto trading app if you want a large selection of trading and investment options. Another plus is how long they’ve been in the trading game. With more than 15 years in the business, they must be doing something very right. Plus, their user interface is incredibly beginner-friendly, allowing you to easily buy your first crypto or stocks with just a few clicks.
eToro user experience
The app is extremely convenient. When compared to some other trading apps on the market, eToro makes it very straightforward and intuitive to move assets. The app can be downloaded on both iOS and Android devices and has a sleek, modern design.
Available Platforms
- iOS
- Android
- Web-based (for PC and laptop users)
Social trading platform where you can trade crypto alongside stocks and assets.
Pros
Large selection of both crypto and stocks
Staking options available
Relatively low trading and non-trading fees
Cons
Not available in Canada
eToro Money Wallet feature not available to all users
Uphold
The Uphold Exchange is one of the best stock trading apps on the list, as it allows users to convert their (digital) assets to any other supported asset from the same trading page. For example, it is possible to convert Bitcoin (BTC) to US stocks like Apple (AAPL) from within the same account.
This asset-swapping feature is quite unique, and it allows users to decide what they want to trade and receive instantly. Most of the other apps mentioned in this guide would require you to first swap Bitcoin for cash, then cash for stock(s). Uphold Exchange’s system is much smoother and can save you tons of time in the long haul.
Why choose Uphold?
My experience using Uphold: I would recommend choosing Uphold because of its incredibly handy features and design. Another advantage is that you can order a MasterCard-brand debit card that allows you to spend your crypto by swiping a card wherever the payment method is accepted.
Uphold user experience
Being able to convert any supported asset into another through a simple interface is definitely a notable benefit. This general ease of use extends beyond the one-stop asset swapping and almost every aspect of the platform is extremely convenient, fast, and fine-tuned for traders and investors who like quick solutions.
Available Platforms
- iOS
- Android
- Web-based (for PC and laptop users)
A multi-asset platform allowing easy swaps between crypto, fiat, and metals.
Pros
Uphold reports its reserves regularly
Extremely easy to convert stock to crypto and vice versa
Easy-to-use trading interface
Cons
Fees are charged as spreads
Relatively high withdrawal fees
Tips for Buying Stocks and Crypto with Apps
There are several important factors to consider when looking to invest in crypto or stocks using dual-trading apps. However, safety and security should always be at the top of the list. It’s also crucial to choose reliable investment options. If you’re unsure about which cryptocurrencies are the safest to invest in, check out our guide on the safest crypto to invest in for informed decisions and secure digital asset management.
How will the app store my assets?
For cryptocurrencies, most apps mentioned in this guide will keep 95% or more of their customers’ funds in cold storage (offline) in case of a security breach. This option is more secure but can be tedious when you want to trade quickly. On the other hand, some platforms will act as custodians for your crypto holdings but keep your tokens in an online “hot” wallet. This method is much more convenient but also more vulnerable to attacks. Some platforms, like Robinhood and eToro, use a mix of both hot and cold storage. It is important to examine your needs and to do your research before you start investing.
How will my account be secured?
It is crucial to check if the app requires you to use two-factor authentication (2FA) or similar methods when signing in, making withdrawals, or placing trades. Ideally, you want an extra layer of security in case someone gains unauthorized access to your account.
How will my data be secured in the event of a security breach?
As long as the platform you’re using is properly regulated, you can rest assured that your user data is secure. Every app on my list meets the high standards noted above, as they all offer 2FA or similar account security features while also keeping most user funds offline.
FAQs
While many platforms advertise zero commissions on trades, there is often a caveat to those statements. The Securities and Exchange Commission (SEC) assesses transaction fees on exchanges it regulates. Additionally, FINRA charges a trading activity fee to those exchanges.
These platforms pass these fees on to their users, but they are typically not incurred unless you pass certain thresholds for trading (a transaction for over $500, for example). Note that SEC-regulated exchanges that advertise zero fees may have some fine print to read through.
The apps we covered offer the best of both worlds, with crypto and stock trading functionalities. Stock trading apps, like Binance, even come with a few advantages over the best crypto exchanges.
In most cases, their user interface is much simpler. Also, you aren’t interacting directly with your crypto and don’t have to worry about crypto addresses or high gas fees. However, if you are only interested in crypto trading, it will be best to focus your approach with cryptocurrency exchanges, like Coinbase or Kraken and their respective mobile apps.
Although both of these assets are tied to supply and demand, they differ in a few key aspects.
Cryptocurrencies are currencies that leverage blockchain technology. They can be exchanged, used to store wealth, or even used as a token. They are highly volatile and still largely unregulated. Stocks, however, represent equity in a specific company and are highly regulated. Stocks can be leveraged for voting rights and dividends, but their value is ultimately determined by the performance of the company and other market forces.
Robinhood and Webull are great options for those interested in stock-only trading. The main reason is that both apps have a great selection of US, Canadian, and international stocks available for investing or trading. Plus, they have incredible features that make trading a breeze.
If you’re looking to buy and hold stocks for a while before selling them, Webull is our favorite because of its low maintenance fees and how beginner-friendly and intuitively designed the user interface is.
eToro is the most suitable for new traders, as it has the most understandable user interface and extensive educational material available. Additionally, it offers a demo account for beginner traders and investors who want to try it out before committing.
In general, dividend stocks are the most suitable for new investors. These stocks are generally backed by businesses that can pay out yearly dividends to their investors.
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