Backpack (MiCA)

Backpack is a crypto platform that brings trading and a wallet into one app. According to its website, it offers futures, spot markets, lending and a crypto wallet. It is available on iOS, Google Play and as a Chrome extension.

It suits beginners and intermediate users who want to trade and manage assets in one place. In the EU, services run through Backpack EU. Its MiCA licence covers custody, exchange, order execution and transfer of crypto-assets. Futures in the EU run under a separate MiFID II licence held by another group entity. Services and products can differ by country, so always check what is offered where you live and follow your local laws.

1. Download the iOS app, the Android app or the Chrome extension from the official site.
2. Create an account for your country or region.
3. Complete identity verification (KYC), which is required for full access.
4. Turn on two-factor authentication (2FA) to protect your account.
5. Deposit crypto, then choose spot, futures or lending.
6. Place market or limit orders and review your open positions.

Use it when:

• You want an exchange with an EU entity that holds a MiCA licence.
• You want spot, futures and lending in one account.
• You want an exchange and a wallet in the same app.
• You are comfortable with identity checks.

Not ideal if:

• You want peer-to-peer trading, which sources say is not offered.
• You are new to futures. They carry high risk and need care.
• You do not want to complete KYC.