Recently, the popularity of cryptocurrencies has been rising, and more and more people are starting to pay attention to and enter the crypto space. However, for beginners, facing a dazzling array of apps can often leave them unsure of where to start. This article will explain in detail the essential types of apps for newcomers to the crypto space and introduce some commonly used tools. In fact, a reasonable combination of tools in the crypto space can directly affect whether you can avoid issues such as theft, operational errors, and market delays. Especially in the case of exchanges and wallets, choosing the wrong one may mean asset insecurity. Today, we will start from scratch and break down the most commonly used apps in the crypto space. We recommend current mainstream, safe applications suitable for beginners.
First of all, the exchange app is the core tool for accessing funds. If you want to buy and sell cryptocurrencies, the exchange app is indispensable. Currently, it is recommended that everyone use the OKX exchange or Binance exchange.
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What apps do beginners need to download to enter the crypto space? Explanation of essential beginner apps in the crypto space.
OKX Exchange
The OKX exchange is suitable for beginners, with a simple interface, comprehensive functions, and a high level of security, making it one of the top choices for domestic users. Known for its compliant operations, it supports direct deposits in multiple fiat currencies, and its "one-click buy" feature simplifies the deposit process for newcomers. The OKX Web3 wallet integrates DeFi functions, suitable for further advanced use.
Binance Exchange
Binance is the largest exchange in the world, with a wide variety of cryptocurrencies and good liquidity, suitable for intermediate to advanced users. As the exchange with the largest trading volume globally, Binance offers spot, contract, leveraged trading, and fiat deposit channels. Beginners can learn basic operations through the "Beginner Academy," and its low fees (0.1%) and rich selection of cryptocurrencies (over 600 types) are suitable for initial practice.
It is recommended that everyone register on at least one of these platforms. If you have not registered with these two exchanges yet, you can do so through the top or bottom of this article.
Wallet Apps
Next are wallet apps, which are suitable for asset storage and on-chain interactions, but wallets are not mandatory.
First, if you plan to participate in on-chain projects like DeFi or NFTs, you can use OKX's Web3 wallet. It is directly built into the OKX app, making it convenient to manage on-chain assets and supports multi-chain interactions.
New users are advised to back up their mnemonic phrases before using wallets to avoid asset loss.
If you do not want to use OKX's Web3 wallet, there is also Binance's wallet. The Binance app also has a built-in wallet, and you can use Binance's wallet for asset storage.
What should newcomers to the crypto space pay attention to?
In this 24/7 continuously operating global market, opportunities and risks coexist at an astonishing rate. For newcomers to the crypto space, the tuition paid for blindly entering the market may far exceed expectations.
Position management is a key skill for survival in the crypto space. Beginners should follow these principles:
Never go all-in. Control the investment amount to a small percentage of your total assets (usually recommended not to exceed 5-10%), so that even if you lose everything, it won't affect your normal life. Use a phased position-building strategy. Avoid buying a large amount at market peaks due to FOMO (fear of missing out) and reduce the average cost through regular fixed-amount investments. Set profit-taking and stop-loss points. Plan in advance what price to sell how much position to avoid being influenced by market emotions in decision-making. Be cautious of high-leverage trading. Leverage can amplify profits but also accelerate the risk of liquidation; beginners should completely avoid contract trading until they fully understand its mechanisms. Continue learning: follow reliable information sources. Pay attention to official project channels, reputable analysts, and technical developers, rather than blindly trusting "big influencers" on social media. Understand market cycles. The cryptocurrency market has obvious cyclicality; understanding the current phase (bull market or bear market) helps make more rational decisions. Conduct independent research on project value. Read white papers, research team backgrounds, and analyze token economic models instead of relying on others' summaries. Remember: if you don't understand a project, don't invest in it.
Summary
Building a toolchain in the crypto space should follow the principle of "safety first, gradual advancement." Beginners can start with centralized exchanges and market tools, gradually getting into wallet management and the DeFi ecosystem while maintaining sensitivity to policy dynamics and community sentiment. Remember: in the crypto space, the biggest risks often come from information asymmetry and operational errors, and a complete toolchain is key to reducing these risks.