Important notes
Binance's mobile app was downloaded more than 6.3 million times in the first quarter of 2024, greatly outpacing other major crypto and fintech platforms.
This superior performance can be attributed to two main factors: the superior quality of the Binance app and consumer trust in the Binance brand, which serves more than 183 million people worldwide.
Through the app, users have access to a variety of different Web3 functions, including spot and P2P trading, payments, marketplace, Earn products, and much more, all contributing to Binance's position at the forefront of Web3 adoption.
We are about to enter the second quarter of 2024 and crypto maintains strong momentum, with key industry benchmarks confidently on the rise. The most important of these metrics are those that indicate strong adoption and usage trends. With the increase in fund inflows to Binance earlier this month, the value of user funds held on the platform exceeded 100 billion USD, indicating that our management of user assets is reliable and transparent.
Users flocking to the emerging world of digital assets have the opportunity to choose from many different service providers, but still not all platforms benefit from these positive dynamics equally. In 2024, Binance leads the fintech industry in terms of app downloads, with its mobile app having been downloaded more than 6.3 million times since the beginning of the year. What's behind this statistic and what does it indicate about the state of the crypto industry and Binance in 2024?
Binance Application is in a Leading Position
According to data from digital analytics firm Sensor Tower, in the first three months of 2024, iOS and Android users worldwide downloaded the Binance app more than 6.3 million times. This figure is 21% higher than the number of downloads of the second-ranked competitor. The gap between leading Binance and other major crypto service providers ranked third and below is even wider, with Binance being discounted several times more than the rest of the group.
With the general resurgence of crypto markets following spot bitcoin exchange-traded fund (ETF) approvals in the US and the anticipation of the upcoming Bitcoin halving, there are two reasons behind this strong performance of the Binance app: In addition to the app being comprehensive and easy to use, consumers around the world are using Binance. trust in its brand.
Two Sources of Trust
Built on the foundations of Binance's user-centric culture, our app is designed to make navigating the crypto world super easy, even for beginners. Anyone can open a Binance account in minutes using our mobile app, regardless of how much they know about cryptocurrencies and financial markets and where they are. Once the account is created and the user is authenticated, users have access to everything Web3 in one place: Spot and P2P trading, payments, marketplace, Earn products, Binance Square's social feeds, our Web3 wallet, and many more functions and services are at your fingertips.
Beyond providing superior user experience and a wide range of services, the Binance app is the gateway to the world's leading blockchain ecosystem, trusted by more than 183 million people around the world. With its unique liquidity, it allows users to trade 1,800 trading pairs and over 400 digital assets.
Every day, tens of thousands of people download the Binance app to access the world of digital assets. In return, they get access to much more than just an easy-to-use tool for their exciting Web3 journey as a member of the world's largest community of those who value financial freedom, built on the principles of prudent growth, security and trust.
Considering these impressive statistics reflecting strong adoption trends, the dominance of the Binance app in early 2024 provides a solid foundation for a growing and strengthening community and brings it one step closer to the goal of reaching one billion Web3 users.