What’s behind the success of crypto apps?

This post is sponsored by Adjust.

Adjust’s all-in-one playbook dives into benchmarks and challenges behind some of the most-used crypto apps.

Crypto, cryptocurrency, blockchain, distributed ledger technology, web3. These terms often get thrown around, but what do they mean?

Despite all the buzzwords, financial speculation, and sex appeal, what underlies this movement is a computing revolution in back-end data structures. In the broadest sense, a cryptocurrency is a tradeable digital asset. However, beyond this simple definition, they can vary widely.

Some currencies represent mined, fully digital assets, while others are based on hard assets such as gold. Naturally, the abundance of options leaves some app users feeling overwhelmed, and app makers are left with the task of filling in the knowledge gaps.

Adjust partnered with Apptopia to give you all the answers you need to make it big in the world of crypto apps.

Download Fintech Deep Dive: Digital Currency Apps 2022 from Adjust.

So how does crypto make it into apps? After a market-wide crash in March 2020, the crypto market entered a “bull market”, with prices and user adoption skyrocketing. The reasons for this are complex, but on a macro scale, responses from fiscal and monetary authorities to the COVID-19 pandemic led to an increase in liquidity throughout the financial system. Stimulus checks combined with the lack of outlets for spending during lockdowns saw a sharp rise in crypto investment.

Meanwhile, tech systems designed for the mining and trading of crypto currencies matured, and services developed, giving individuals easier access than ever to crypto markets across the globe.

The most common crypto apps are cryptocurrency exchanges, which allow for the trading of cryptocurrencies. These apps may focus exclusively on crypto (such as Coinbase, Binance, FTX, Gemini and crypto.com) or they may be general fintech apps that include crypto purchasing or trading (such as Robinhood, Square, and Paypal).

Crypto exchange apps are increasing the range of services they offer, and defining their market niches as user adoption grows and competition begins to increase.

Adjust and Apptopia’s playbook for crypto apps reveals growth strategies which have helped to propel some of the most successful apps. Some of these include:

1. Pay attention to advertising compliance requirements: know where you can and cannot run ads, and what language you should use.

2. Referrals and incentivisation are key: Everybody loves a good deal! Starting with credit in your app can be critical for driving first-time deposits.

3. Consider video and OTT/ CTV ads: The 2022 Super Bowl saw a 279% jump in downloads for crypto apps.

The world of crypto services is expanding rapidly, with NFTs working their way into interactive gaming, banking and travel benefits built on crypto, and new apps being minted every day.

New crypto app concepts must employ creative approaches to stand out in a sea of apps, while integrating the tried and tested marketing strategies that have been successful in the past. All of this, while walking regulatory tightropes as countries such as Spain, the UK and Singapore have tightened their policies for advertising and even trading.

Download the full playbook from Adjust and Apptopia to get full access to the complete list of marketing strategies and benchmark data from the world of crypto apps.