Five crypto apps for beginners: costs and custody compared

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Fee-free rarely means free of charge with crypto apps: between 0.15 and 2.49 percent per purchase lies a factor of ten. What five apps cost German beginners, who holds the coins and which app permits a transfer to your own wallet.Anyone in Germany buying bitcoin for the first time downloads an app and almost always pays more than they think. The visible part of the cost is usually small or absent altogether, because many providers advertise fee-free trading. The real price sits in the spread, and across the five apps in this comparison it ranges from 0.15 percent to 2.49 percent per purchase. On 100 euros that is 15 cents or 2.49 euros, and over a year of savings-plan instalments it becomes a difference of several dozen euros. The second question matters even more for beginners and is asked less often: who owns the coins after the purchase, and can you get at them at all? An app that does not permit a transfer to your own wallet is selling you exposure to a price, not a cryptocu...