Exchanges and trading platforms are crucial gateways to bring more people into the cryptocurrency fold. Mobile applications play a core role in that regard. Interestingly, Binance continues to onboard roughly 5 million users per month, well ahead of Huobi, KuCoin, OKEx, and Coinbase Pro.
Mobile Apps For Exchanges Boom
Most people will access a cryptocurrency exchange through a website on their computer or laptop. These platforms are built to be accessed that way, making it easier for the user to navigate the menus and so forth. However, not everyone is around a computer all the time, which would reduce their potential access to cryptocurrency trading and assets. Thankfully, there are mobile applications capable of solving these issues.
Today, nearly every respectable exchange and trading platform have a mobile application. It makes the concept of cryptocurrencies far more appealing to the masses, as there are far more mobile devices in the world compared to computers and laptops. Any exchange without a mobile application is missing out today, and will likely keep missing out for a while to come.
It is no surprise that the top trading platforms note strong growth across mobile users. More specifically, the December 2021 mobile application download statistics show that the same five companies dominate the space across iOS and Android. The rankings are slightly different for fourth and fifth place, but the top three remains unchanged.
📈 Exchanges with Highest Trading Volume by Number of App Downloads in Dec. 2021
👉 https://t.co/A7aFDbf9nP pic.twitter.com/tW0PV9zBYW
— CryptoRank Platform (@CryptoRank_io) January 14, 2022
Top Exchanges Dominate
Binance noted 3 million Android downloads in December 2021. This is an impressive statistic, especially when considering there are 2 million downloads on iOS. That doesn’t mean there are five million unique users, as people can have devices with either operating system in their household. Even so, five million downloads is significant, especially for an exchange that already has tens of millions of users today.
The second-fastest growing exchange in the mobile space is Huobi, with 1.2 million downloads combined last month. Again, an impressive number, although the gap to Binance keeps widening. KuCoin notes 200,000 new iOS users last month – the same number as Huobi – but only 600,000 on Android compared to Huobi’s 1 million.
The battle for fourth place between OKEx and Coinbase Pro is intriguing. OKEx is more popular on Android, with twice the downloads in December. However, Coinbase pro has an edge on iOS, although the 10,000 install difference doesn’t close the gap entirely. Such low demand for Coinbase pro is rather interesting, given how much of a household name it is today.
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