When it comes to the iOS app store charts, it’s often a case of the usual suspects topping the pile. However, amidst all the social media apps and on demand offerings, a new name has gatecrashed the party. Coinbase, a cryptocurrency wallet app that facilities the purchase of Bitcoin, Litecoin, and Ethereum, has climbed up the iOS app store charts. Now sitting at the No. 1 spot, it appears that the bitcoin boom has attached a rocket to Coinbase, with the app’s popularity showing no signs of subsiding anytime soon.
Looking at the statistics, just a month ago Coinbase was hovering around the 400 mark on the charts, with it having a small yet strong army of users. But, the Bitcoin rally changed all that, as not only did it send the value of the cryptocurrency through the roof, it did the very same for Coinbase. As Bitcoin smashed through the $15,000 mark – and even briefly touched $18,000 on certain exchanges – people were chomping at the bit to get in on the action. Peaking on December 7, Coinbase is giving investors an easy way to jump into the cryptocurrency market.
Bitcoin briefly touched $18,000 on certain exchanges.
Coinbase has certainly revelled in its increased popularity, but it hasn’t come about without issue. It appears that the increased user numbers caused a few problems for the app, as it actually crashed upon hitting the top of the charts, with the massive spike in usage weighing it down. The site was deemed “down for maintenance”, which certainly frustrated both experienced users and those new to the Coinbase platform. Thankfully, this proved to be a mere blip, as Coinbase was back up and running soon after, welcoming members both new and old.
Altcoins rise
You would have to have been living under a rock to not know what’s going on in the world of cryptocurrency right now. While Bitcoin’s astounding rise has been well documented, it isn’t just the leading cryptocurrency that has driven investors to Coinbase. Litecoin and Ethereum have also spiked, rising by more than 230% and 47% respectively over the past 7 days.
Keeping investors on a rollercoaster ride, the cryptocurrency market continues to flex its muscle and showcase unbelievable growth. The numbers don’t lie, as Coinbase’s popularity is certainly warranted. Allowing you to control your cryptocurrency wallet at will while on the move, it’s safe to say that Coinbase has emerged as the best way to buy, sell, and manage your crypto investments.
