Users of Coinbase Are Increasing Rapidly in the US and UK, Leaving Binance Far Behind

Apps play an important role in crypto financial and trading systems. Two of the apps, Bianance and Coinbase, are the top apps in the crypto market. Binance is the leading crypto app in the world, however, it is not doing well in the US and UK. Instead, Coinbase is leading because of its better consumer-friendly experience and reputation. In the US, Binance faced some civil and criminal rulings, along with some regulatory challenges like SEC lawsuit. Binance is also not doing well in terms of regulations and having conflicts with regulators in the UK.

According to SimilarWeb's findings, in the US, Coinbase got 16.7 million monthly users in July 2024, which is a 71.2 percent up YoY and 3.1% month over month. Another popular crypto exchange app in the US is crypto.com which got 2 million monthly users. Even though the UK doesn't have as many monthly users of Coinbase as in the US, it still got 1.3 million monthly users. On the other hand, Binance had 729.5K monthly users. Even though Binance stopped accepting customers in October of last year, it is still one of the most used crypto apps in the UK.

Crypto customers in the US have also started using a new crypto app called Robinhood which is more diverse and supports crypto trading. Other crypto apps that have been gaining some popularity in the US are Blockchain.com with 164.6% increase in active users YoY, OKX with 260% increase in active users YoY and Bybit with 50.7% increase in active users YoY.

On the other hand, Bianance app has been growing worldwide with 53.9 million visitors on the web in July alone. Coinbase.com got 32.2 million visitors in July. The iOS version of Coinbase is also growing rapidly with 87.9% increase in users YoY.

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by Arooj Ahmed via Digital Information World