Germany, the biggest economy in Europe, has become one of the biggest players in the cryptocurrency industry. Millions of people in the country hold cryptocurrencies like Ethereum and Bitcoin. Similarly, a good number of people are actively trading these coins. In this article, we will explore some of the most popular crypto apps in Germany and the services they offer.
Also, there are German based guides that cover some pros and cons of using these apps: “Unser Team von Krypto-Experten hat eine Liste mit den besten Krypto-Apps erstellt, mit denen du digitalen Währungen kaufen kannst” Source: Cryptomonday.de.
Coinbase is a leading American company that is publicly traded in the United States. It is the second biggest firm in the industry with a market valuation of over $33 billion. At its peak, investors were valuing the firm at over $80 billion.
Coinbase has more than 89 million customers globally and it generated revenues of over $7.8 billion in 2021 and analysts expect that it will soar to over $50 billion by 2025.
Coinbase offers its services globally through its mobile applications and web platforms. Its Android and iOS apps have great reviews from their users.
Coinbase is one of the most popular crypto apps in Germany, where it has thousands of customers. While the real number of users has not been made public, data compiled by SimilarWeb shows that Germany is the third-biggest source of traffic. The first two are the United States and the UK.
There are several reasons why people in Germany use Coinbase to buy and sell cryptocurrencies. First, it is a reputable exchange that has been around for many years. As a result, the company’s users have confidence that their coins will be safe.
Second, Coinbase offers multiple features that people love. In addition to its exchange features, the company offers services like crypto education, staking, debit card, and an online wallet.
Third, Coinbase has affordable trading and investing costs and it has not had any large-scale hacks like other popular exchanges. Further, it accepts multiple ways to deposit and withdraw cash and its registration process is relatively easy.
Binance is the largest company in the blockchain industry. While it is privately owned, estimates are that the firm is valued at over $300 billion, making it one of the biggest firms in the world. The company has more than 90 million users from around the world and it processes over $76 billion worth of cryptocurrencies every day.
Binance offers many cryptocurrency services. For example, it owns CoinMarketCap, the most popular cryptocurrency website in the world. The website provides quick information about thousands of cryptocurrencies like their market cap, news, and calendar.
Further, the Binance platform enables people to buy and sell digital currencies in an easy way. One can do it on the website and in mobile apps. It is possible to trade cryptocurrencies with leverage using the platform.
Binance also runs BNB Chain, which is a platform that enables developers to build decentralized applications such as those in DeFi and the metaverse. Other services offered in Binance are a yield, non-fungible tokens (NFT) and savings.
Binance is loved because of the diversity of assets since it has over 600 coins and the fact that it has a reputation for being safe. Its mobile apps have great ratings and reviews. The only challenge is that Binance is not a regulated entity and it does not have an office in Germany. Indeed, some regulators have recently warned about the company.
Crypto.com is a fast-growing company headquartered in Singapore. The company offers similar products to Coinbase and Binance. It serves over 10 million globally and Germany is one of its leading markets globally.
Crypto.com’s goal is to create a one-stop platform where people can deal with all their cryptocurrency needs. For example, it has a spot exchange where people can buy and sell hundreds of digital coins.
The company also has an exchange that enables users to buy and sell leveraged cryptocurrencies. By doing so, they are able to maximize their returns. Crypto.com also has a card feature that lets people do their transactions online and in stores.
Like Binance, the company also runs Crypto.org Chain, which is a platform that lets developers build all types of applications. Crypto.com also has tax tools tailored for German customers. It has multiple deposit and withdrawal options and its apps are updated regularly. It also has friendly fees.
There are many crypto apps in the world but the three we have mentioned are the most popular ones in Germany. Others worth noting are Kraken and Huobi. People in the country also use apps like CoinGecko to find the overall performance of thousands of digital coins.
Also, they use apps like OpenSea to trade virtual non-fungible tokens (NFTs). Other people use DeFi platforms like Uniswap and PancakeSwap in a bid to avoid centralized platforms in the country.