According to a recent survey of the usage of financial apps in the world, cryptocurrencies are the category where people record the most usage time. In the past two years, this was also the category with the highest overall patient compliance.
The new research on the growth in the use of fintech apps was released by Adjust, the global analytics platform for mobile marketing. In 2021, Adjust was acquired by AppLovin (Nasdaq: APP).
According to the company, there is a global growth trend in the installation of mobile finance apps, at an annual rate of 34%.
According to the company’s research, North America was in the spotlight, with a year-on-year growth rate of 69% in 2021. Subsequently, Latin America recorded a 62% increase.
Digital currency apps are among the least downloadable apps
The worldwide interest in cryptocurrencies has caused a lot of movement in this market. Companies emerged to meet demand, either with products, as well as services and information, such as consulting, among others.
Thus, with a fully virtual sector, most solutions also arise in these environments. However, cryptocurrency apps registered low adherence, with the fewest downloads in 2021.
According to data from Adjust, the most downloaded financial apps were payments (57%), banks (34%) and stocks and cryptocurrencies with only 7% and 2% of total installs, respectively.
It’s worth remembering that users are spending more and more time logging into applications, growing at a 53% annual rate. In Latin America, time logged into apps grew by 128% from 2020 to 2021, with a global average of 5 minutes.
Cryptocurrency apps record the longest usage time in the world
While these are the apps with the fewest downloads, the time people spend on these mobile solutions is the largest in the survey.
This is because it is common for people to stay in sessions for extended periods when entering a cryptocurrency application as it takes time to complete their actions, especially purchases and sales.
“A payment app may only take a few seconds to perform a task. On the contrary, users who sell and buy stocks or cryptocurrencies are likely to use the app for extended periods of time to complete transactions. The most dramatic growth in session duration was in the cryptocurrency sector, which went from 8.05 minutes per session in 2020 to 15.44 minutes in 2021. Session duration for fintech also increased overall, from 6.36 minutes. in 2020 to 7.36 minutes 2021.”
The full study into the use of financial apps is made available free of charge by Adjust on its website.
It is worth remembering that in the cryptocurrency market it is essential to be careful with fake software on mobile devices. Therefore, cryptocurrency investors interested in applications should verify the origin of a solution to avoid problems.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
