The allure of cryptocurrency has captivated our society as a new way to exchange, pay and obtain money without involvement from the government. These digital tokens have taken off with 13% of Americans in 2021 purchasing some form of cryptocurrency. For context, in that same year, 24% of Americans invested in stocks over that time period. As of 2021, there was an estimated global crypto ownership rate of 3.9%, more than 300 million crypto users worldwide and over 18,000 businesses already accepting cryptocurrency payments.

Source: AI Multiple

Smartphones have played a significant role in cryptocurrency adoption with the rise of crypto apps streamlining the buying and selling of these digital currencies to be simpler and clearer than ever before. Companies are also beginning to leverage cryptocurrency to enhance their processes, from  retail implementations of cryptocurrencies as a payment medium to investment assets. 

Regardless of the use case, crypto apps are here to stay and it is important to understand users’ concerns and desires when it comes to the crypto app market so that you can market your crypto app as effectively as possible. 

What is Crypto Currency?

Although most of us have only heard about cryptocurrencies in the recent decade, the concept of decentralized monetary exchange has been around since the late 1980’s. The basis of the idea was to break away from centralized entities (aka banks) and develop a currency that could be sent untraceably. Today, the cryptocurrency market has skyrocketed to include over 10,000 active cryptocurrencies circling the web.

Cryptocurrency, also known as crypto, is a digital asset or currency designed to work as a medium of exchange that can circulate without the need for government or a bank. Instead, these currencies are created using cryptographic techniques that enable people to buy, sell or trade them securely. Many crypto currencies — including the popular Bitcoin — are supported by the blockchain, which maintains a tamper-resistant record of transactions and keeps track of who owns what. The creation of blockchains solves a problem faced by previous efforts to create purely digital currencies by preventing people from making copies of their holdings and attempting to spend it twice.

Marketing your Crypto App

There are numerous successful crypto currency apps on the market. The question is: how do consumers choose which to trust with their money and investments? There are a few key factors to consider when developing your crypto app to help market your crypto app more effectively, including ease of use, security and education. 

Marketing your Crypto App Development Tip 1: Ease of Use

New crypto apps have developed rapidly as more and more people are interested in investing their money in these traceable digital tokens. However, fast development can sometimes come at the cost of user-friendliness. Despite crypto being highly popular, many people are still unfamiliar with how they are bought, sold and traded. This means that most users will choose an app that has a well designed interface and messaging that is tailored to their needs. Keep your designs simple and your copy concise so that your customers can quickly find what they are searching for.

Chances are, new and unfamiliar users may download a crypto app and feel too overwhelmed with new information to give it a try. In this case, it is key to win back that user by serving them with messaging that is educational and lets them know that your app is simple and easy to use. Keep messaging light and friendly in order to win back lapsed users who may still be interested but are intimidated by a new way of investing. 

Marketing your Crypto App Development Tip 2: Security

Look, everyone is cautious when it comes to investing their hard earned money. That is why it is of the utmost importance to make sure your app has taken the necessary precautions and steps to secure your users’ assets. Back in March of 2022, Ronin, an Ethereum sidechain built for the popular play-to-earn non fungible token game Axie Infinity, was hacked for over 173,600 Ether and 25.5 million USD for a combined value of over $600 million. A hack this large is rare, but unfortunately hacks aren’t uncommon in cryptocurrency history. 

Because of these security breaches, it is advisable that users trade on secured and trusted networks only. This means that in order to promote use of your app, it is key to let your consumers know you have taken the steps to make sure their money is protected. Try integrating security features to keep assets offline in cold storage. Cold storage is a way of holding cryptocurrency tokens offline. By using cold storage, you can prevent hackers from being able to access your users’ holdings via traditional hacking methods.

Give your users transparency into your security reliability by giving them updates via push notifications of how many users trust your app! You can also give your users deeper insights into your app’s security by comparing your methods side-by-side with other apps. It’s all about developing a relationship between you and your audience! 

Marketing your Crypto App Development Tip 3: Education

Cryptocurrencies are a relatively new kind of investment process. Many of us are used to an old school method of stocks and bonds, but with crypto there is a lot to learn. Aside from creating an optimal user experience in your app, successful crypto apps also include educational tools for users to explore. Whether this is through highly developed customer service or blogs and other materials that are found within the app itself, it is important to give a wide variety of resources for your customers. 

By segmenting users into those who have only recently downloaded your crypto app, you can serve them educational content that will help them learn more about how they can succeed by investing in this digital currency. Eliminating long term users who will find this content irrelevant will help you with engagement and will ensure new users are getting the right information. 

Source: FindStack

Takeaways on Crypto App Marketing

The allure of cryptocurrency has captivated our society as a new way to exchange, pay and obtain money without involvement from the government. These digital tokens have taken off with 13% of Americans in 2021 purchasing some form of cryptocurrency. Inevitably, crypto has made its way into the app universe, making it more important than ever for marketers to stand out from the crowd by responding to users’ concerns and desires when it comes to the crypto app market. 

There are a few key factors to take into account when developing your crypto app that consumers find important to increase the marketability of your crypto app: ease of use, security and education. 

  • Ease of use: New crypto apps have developed rapidly as more and more people are interested in investing their money using these digital tokens. However, fast development can come at the cost of user-friendliness. Keep your designs simple and your copy concise so that your customers can quickly find what they are searching for.
  • Security: Everyone is cautious when it comes to investing. With hacks as large as Ronin back in March of 2022, it makes sense that people are skeptical of crypto apps. This means in order to promote use of your app, it is key to let your consumers know you have taken the steps to make sure their money is protected. Give your users transparency into your security reliability by giving them updates via push notifications of how many users trust your app!
  • Education: Aside from creating an optimal user experience in your app, successful crypto apps also include educational tools for users to explore. By segmenting users by those who have recently downloaded your crypto app, you can serve them educational content that will help them learn more about how they can succeed by investing in this digital currency.

Start a conversation with YouAppi on Marketing your Crypto App today!