Crypto, cryptocurrency, web3, blockchain, distributed ledger technology (DLT). These terms are constantly thrown around, but what do they really mean?
Despite the hype, financial speculation, and overall appeal, this movement is based on a computational revolution in back-end data structures. A cryptocurrency is a transferable digital asset in the broadest sense. They can, however, vary greatly beyond this fundamental definition. Some currencies are based on hard assets like gold, while others are based on mined, entirely digital assets. Naturally, the abundance of alternatives overwhelms some app users, leaving app developers, such as The App Bros, with the duty of filling in the knowledge gaps.
So, how does cryptocurrency find its way into iOS and Android apps? The crypto market began a "bull market" after a market-wide slump in March 2020, with prices and user adoption rising. The causes for this are many, but on a macro level, fiscal and monetary authorities' responses to the COVID-19 pandemic resulted in a rise in liquidity across the banking sector. The absence of outlets for spending during lockdowns, along with stimulus checks, resulted in a dramatic increase in crypto investment. Meanwhile, technology for mining and trading cryptocurrencies matured, and services emerged, allowing users to get greater access to crypto marketplaces around the world than ever before.
The most common cryptocurrency apps are crypto exchanges, which allow for the trading of crypto. These apps focus exclusively on cryptocurrencies (such as Binance, Coinbase, Gemini, FTX, and crypto.com) or they may be general fintech applications that include crypto trading or purchasing (such as Square, Robinhood, and Paypal). Crypto exchange apps are increasing their range of services and deeply defining their market niche as user adoption continues to grow and competition increases.
Apptopia and Adjust’s playbook for crypto applications reveals growth strategies that have helped to launch some of the most successful mobile apps. A few of these are:
Pay attention to advertising regulations: learn where you may and cannot run adverts, as well as what wording you should use.
The importance of referrals and incentives cannot be overstated: Everyone enjoys a good bargain. For driving first-time deposits, your app's starting credit can be crucial.
Take a look at video and OTT/CTV advertisements: Crypto app downloads increased by 279 percent during the 2022 Super Bowl!
The world of crypto services is fast developing, with NFTs making inroads into interactive gaming, crypto-based banking and travel advantages, and new apps being minted every day.
To stand out in a sea of apps, new crypto app concepts must apply innovative tactics while incorporating tried-and-true marketing strategies that have shown to be successful in the past. All of this while treading a regulatory tightrope as nations like as Spain, the United Kingdom, and Singapore tightened their advertising and trading laws.
The App Bros
The App Bros have put together countless apps while simplifying the mobile app development process to make it feasible for everyone. With a team of the best UX/UI designers, software engineers, app architects, and twenty plus years in the world of product design, tech, marketing, sales, and finance, The App Bros can turn any app dream into reality.
Click here to get started on your mobile app today.