Cryptocurrency Accelerates on Mobile with PayPal Leading Download Rankings Across Global Regions (App Annie) | Financial IT

Cryptocurrency Accelerates on Mobile with PayPal Leading Download Rankings Across Global Regions (App Annie)

Cryptocurrencies
02.11.2021 02:30 pm

In Q3 2021, worldwide downloads of the top 5 cryptocurrency apps reached a total of 46M downloads on iOS and Google Play (an increase of 75% year-over-year), highlighting growing consumer interest.
PayPal held the #1 spot in worldwide downloads in the United Kingdom.
In fact, based on an analysis of fourteen global regions, PayPal held the #1 spot in worldwide downloads in all regions except for India, Russia, and South Korea.
Although PayPal offers traditional payment features, what makes it attractive is its ability to allow users to explore curated deals and buy, sell, and even check out with cryptocurrency such as Bitcoin (which recently reached record highs) without leaving the app.
As digital currencies increase in value, we’ve also seen greater interest in buying and selling accentuated by the growth of digital exchanges highlighted by increasing time spent in-app.
Binance, the world’s number one cryptocurrency exchange by trading volume, saw a 25% growth in average total time spent per user year-over-year in Q3 2021, while DMM Bitcoin, an APAC cryptocurrency exchange, saw a 280% growth over the same time period.
As crypto currency becomes more mainstream, we’ll likely see more fintech apps tap into crypto capabilities to compete on mobile.

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