Home / Tech News / Download this: Bitcoin apps are riding high as its price skyrockets

Download this: Bitcoin apps are riding high as its price skyrockets

Mandatory Credit: Photo by Kin Cheung/AP/REX/Shutterstock (9264820d) People use a Bitcoin ATM in Hong Kong, . Bitcoin is the world’s most popular virtual currency. Such currencies are not tied to a bank or government and allow users to spend money anonymously. They are basically lines of computer code that are digitally signed each time they are traded Bitcoin, Hong Kong, Hong Kong – 08 Dec 2017

Image: Kin Cheung/AP/REX/Shutterstock

There’s a new app at the top of the App Store and it’s all because of Bitcoin.

Coinbase, a popular Bitcoin wallet app, is now at the top of Apple’s App Store, unseating Snapchat, Instagram, and YouTube as the most in-demand software. 

That in itself might not be terribly surprising considering the cryptocurrency keeps shattering record after record. But though Coinbase, which also works with other cryptocurrencies, is for now the most popular, it’s far from the only Bitcoin wallet app benefiting from the current boom.

Across the board, Bitcoin-related apps have been more in-demand than ever before. In fact, new numbers from app marketing firm Sensor Tower underscore just how much Bitcoin’s current surge has impacted the wallet apps in the App Store and Google Play.

Sensor Tower compared the rise of the top ten Bitcoin wallet apps with the average price of Bitcoin and found that the two track nearly identically since the start of the year. 

The firm estimates that the most popular wallet apps have seen more than 11.8 million new downloads in the last year alone. To put in perspective just what a spike that is, those 11.8 million downloads represent more than 70 percent of all downloads from the last three years, according to the company.

It’s not just wallet apps, either. Other Bitcoin-related apps, like those that track the price of Bitcoin and other cryptocurrencies, have also trended in the App Store for days.

Bitcoin-related apps have trended for days in the App Store.

Bitcoin-related apps have trended for days in the App Store.

Image: screenshot/app store

Whether it’s a momentary trend or a sign of what’s to come will likely depend on what happens to Bitcoin in the coming weeks and months. Even Coinbase has urged caution, noting that cryptocurrency markets are prone to sudden, and often dramatic, changes. 

For now, though, the current Bitcoin hype is alive and well in the App Store.

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