In July 2020, 3.5 million new users downloaded crypto wallet app. This represents an 81 percent rise in wallet app download compared to 2019.
It also translates to a 110 percent rise in the number of crypto wallet active users. This is just between January and August 2020. Apptopia, a data firm that provides information about how apps are being used noted in a report that the number of crypto app downloads was observed after countries began imposing lockdown measures as a result of the COVID-19 pandemic.
Apptopia noted that in 2019, crypto apps download by number averaged below two million. However, it went above this number only in May and June 2020.
Authoring the report for Apptopia, Madeline Lenahan, while talking about the surge in crypto app download said that people never knew it was going to last. However, she revealed they are left surprised that the trend has persisted for a few months.
Other reasons why crypto wallet app download surged
Lenahan explained crypto is becoming mainstream in emerging markets, especially in Africa. She explained that Crypto.com already experienced a 339 percent increase in installations in Nigeria in the last 90 days. Coinbase also she sighted has experienced a 113 percent increase in the country also.
According to Apptopia’s data, both Coinbase and Crypto.com experience the highest number of users daily. Over 969,000 and 576,000 users make us of both apps daily. Other top crypto wallet app in the list of highest daily active users are Blockchain, Luno, BCH, BRD, Trust, and Binance.
Bitcoin.com data also reveals that Nigeria accounts for the highest number of downloads between July 10 and 16. The wallet was downloaded a total number of 18,613 times with 3,473 downloads from Nigeria. The United States came second with 2,802 downloads and India third with 1,420 downloads.
Data from Apptopia and Bitcoin.com points out that Nigeria is booking its place as one of the biggest crypto markets in the world.
Adem Billican, A Blockchain mobile app developer who spoke on the rise in the number of downloads of crypto wallets said Mobile is the way to go for blockchain and cryptocurrencies mass adoption, I am super happy to see these numbers.”
Lenahan believes that by the end of August, another record would be set. This she explains is because the growth rate looks real and would last.