In January 2021, Coinbase reached its highest ever number of daily active users (DAU) in the United States as the use of cryptocurrency apps grew. Now reaching over 600,000 DAUs, Coinbase had roughly 10 times more users than Blockchain Wallet. Noticeable, however, is the large increase in users among several applications that allow for either buying or storing Bitcoin: The app of Crypto.com saw its DAU double between December 2020 and January 2021, whereas Voyager's tripled within three months. Cryptocurrency interest grew during this same as the Bitcoin price surged to new heights in late 2020 and early 2021.
Cryptocurrency and the U.S.: the future or a hoax?
Bitcoin trading volume against 44 domestic currencies used for the transaction of the digital coin was the highest in the United States in 2020, potentially indicating the Bitcoin market in the country could be the largest worldwide. U.S. consumers, however, seem to have mixed feelings towards digital coins. In two surveys in 2021 and 2019 the number of respondents who said that they had not invested in digital currencies like Bitcoin or Ethereum, and were not going to, remained the same. Indeed, the United States ranked 42nd in a ranking of cryptocurrency ownership across 55 countries worldwide in 2020.
Is PayPal changing this situation?
A noticeable app not included in this overview is PayPal: The U.S. version of the mobile payments app offers the option for purchasing and storing various virtual currencies since October 2020. The DAU metric, however, does not allow for showing what potential impact this new feature had on the use of the PayPal app. The app already ranked as the most popular U.S. mobile payment app based on user experience in 2021. However, a successful application of crypto features in an app like this could make it easier for consumers in the United States to buy a cryptocurrency, potentially influencing the country's attitude towards cryptocurrencies.
FAQs
Coinbase, Trust, and Sweat were the only crypto wallets in the United States to reach roughly half a million downloads each in Q4 2023. This is according to an estimate using roughly 190 different apps that offer a crypto wallet function from across the world.
What is the most used cryptocurrency app in the US? ›
Coinbase is widely considered to be the best cryptocurrency application for investors. While the platform may not be suitable for experienced investors due to higher fees and a lack of advanced features, Coinbase is a fantastic option for beginner investors!
What is the most used crypto in USA? ›
- Bitcoin (BTC) Price: $67,325.66. Market cap: $1.3 trillion. ...
- Ethereum (ETH) Price: $3,248.11. Market cap: $390.5 billion. ...
- BNB (BNB) Price: $577.44. Market cap: $84.3 billion. ...
- Solana (SOL) Price: $178.96. ...
- XRP (XRP) Price: $0.60. ...
- Dogecoin (DOGE) Price: $0.13. ...
- Toncoin (TON) Price: $6.75. ...
- Cardano (ADA) Price: $0.41.
Best Decentralized Exchange: Bisq
- Our Top Picks.
- Kraken.
- Coinbase.
- Crypto.com.
- Gemini.
- BitMart.
- Cash App.
- Bisq.
Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 200 cryptocurrencies. Its fees, however, can be confusing and higher than some competitors.
What is the best crypto wallet in the US? ›
Coinbase, Ledger and Safepal offer the best bitcoin and crypto wallets according to our testing. Your cryptocurrency is only as safe as your private key. The safest place to keep this alphanumeric sequence that allows you to access your funds is in a cryptocurrency wallet. Hot wallets are connected to the internet.
What is better than uphold? ›
The best overall UPHOLD alternative is Binance. Other similar apps like UPHOLD are Coinbase Exchange, Kucoin, Bittrex, and Kraken. UPHOLD alternatives can be found in Cryptocurrency Exchanges but may also be in Crypto Mining Software or Brokerage Trading Platforms. Have you used UPHOLD before?
Which platform is best for crypto trading in US? ›
Our picks of the best crypto brokers
- Binance.US: Best for trading bitcoin.
- Interactive Brokers: Best for crypto stocks and funds.
- Kraken: Best for customer service.
- Bitstamp: Best for beginning traders.
- Uphold: Best for trading fiat currencies.
- Gemini: Best for availability in all 50 states.
Conclusion. In the dynamic landscape of cryptocurrency, these ten coins, including TRON, Shiba Inu, Astar, Kaspa, Dogecoin, Stellar, Kava, Polygon, Cronos, and VeChain, present diverse potentials for reaching the $1 milestone in 2024.
What is the top 3 trending crypto? ›
Discover the top trending cryptocurrencies on CoinGecko. This list is sorted by coins that are most searched for in the last 3 hours. Layer3, PAW, and Kaspa are the top 3 trending crypto now. In the past 24 hours, the price of Layer3 changed by -22.4%, PAW price changed by -3.6%, and Kaspa price changed by 7.4%.
The world's first cryptocurrency, Bitcoin, has the largest market capitalization. Its established network, limited supply, and growing institutional adoption make it a relatively safe haven in the volatile crypto market. Bitcoin grew by 155% from the start till the end of 2023.
What is the easiest app to buy Bitcoin in the US? ›
Fortunately in United States, you can buy Bitcoin on Coinbase's centralized exchange. Coinbase is the most trusted place for people and businesses to buy, sell, and manage Bitcoin. It's quick and easy.
What is the safest cryptocurrency? ›
What is the safest crypto to buy now? Bitcoin (BTC), Ether (ETH), and stablecoins like Tether (USDT) are considered safer options due to their history and stability. Remember, cryptocurrency markets are volatile, so it's crucial to always do thorough research before making any investments.
What is the safest crypto platform? ›
Coinbase's popularity is down to its flexible minimum deposit options, user-friendly interface, 3 Coinbase mobile apps, competitive trading fees, and a range of products for every investor level. But perhaps most importantly, Coinbase has never suffered from a major cryptocurrency hack and has a strong security record.
What is the safest USD crypto? ›
USDC branded itself as the safest stablecoin in the market with regulated and fully backed reserves. Circle promotes transparency by disclosing attested reports of USDC reserve holdings every week.
What crypto platform is legal in the US? ›
Choose a reputable exchange: Popular exchanges in the USA include Coinbase, Gemini, and Kraken. These exchanges allow you to buy and sell Bitcoin using US dollars and other fiat currencies, and they typically have strict compliance standards to comply with US regulations.
Which is better, Kraken or Coinbase? ›
Kraken vs Coinbase cryptocurrency exchange overall score comparison reveals that Kraken has a higher overall score of 9.4, while Coinbase gathered an overall score of 9.1. If we look at the ease of use, it's clear that in this Kraken vs Coinbase comparison, Kraken has better & smoother user experience than Coinbase.
What rank is the Coinbase app? ›
Coinbase currently ranks 24th in the finance category on the Google Play Store in the U.S. Coinbase Wallet is ranked at 33rd, with Cash App again ranked number one.
Which is better, Coinbase or Binance? ›
While Coinbase is more suitable for beginners, Binance caters to a broader audience, including beginners and advanced traders. As such, comparing these two exchanges in terms of their features and offerings is essential so you can make an informed decision based on your trading goals and needs.
