The ranking of CEXs by downloads in December 2024

[Dust Farmer]

I was reading through the article written CryptoDep about the downloads of cryptocurrency apps in december with the thought of finding out how much people have been getting into cryptocurrency with the new year coming and the number was staggering. Just for major exchanges the total of downloads in just the year of december was 15.75 M downloads, meaning that the real value is probably more than that even if the value in the article was a bit exaggerated. https://x.com/Crypto_Dep/status/1877345413981708749 [nofollow]

Binance took the lead as usual with Coinbase and Bybit following in succession. What was pretty surprising though was that Bitget actually came in 4th surpassing OKX and Kucoin which was an interesting surprise but still understandable looking at the monthly visits and how their token has been doing recently. Anyway, after Kucoin was Gate followed by MEXC, Kraken, and HTX in the order. What do you guys think, is this list accurate or do you have other opinions on the placement?

[dkbit98]

This numbers look unrealistic to me, and there is a bunch of people who are mostly using web version of exchanges on their desktop devices.
Even if combined download is 15.75 Millions that probably means that one user download and tested several different exchanges and they did that multiple times.
This should be combined with number of website visits, trading volume and other data to get more precise information.

[joniboini]

Looks like the data comes from Sensor Tower. The name is familiar if you're a gacha game player. I believe some of their stats are hard to verify, so always take them with a grain of salt. Even if this is true, I also think ranking them by downloads is quite flawed. There's a possibility of overlap if we consider this data to represent the numbers of new crypto users. Even if the placement ends up being true, I think they need better methodology to do this. CMIIW.

[libert19]

Binance took the lead as usual with Coinbase and Bybit following in succession. What was pretty surprising though was that Bitget actually came in 4th surpassing OKX and Kucoin which was an interesting surprise but still understandable looking at the monthly visits and how their token has been doing recently. Anyway, after Kucoin was Gate followed by MEXC, Kraken, and HTX in the order. What do you guys think, is this list accurate or do you have other opinions on the placement?

Yeah, I am not surprised with Binance being on first position specifically, it has become default choice for people recommending a crypto exchange. BitGet popularity might have to do with their wallet app aside from exchange, I am seeing their wallet app has really become popular lately.

[Dust Farmer]

This numbers look unrealistic to me, and there is a bunch of people who are mostly using web version of exchanges on their desktop devices.
Even if combined download is 15.75 Millions that probably means that one user download and tested several different exchanges and they did that multiple times.
This should be combined with number of website visits, trading volume and other data to get more precise information.

Mmmmn, true. Looks like I didn't think it through as much as I think I did. In that case it will be extremely hard to get the accurate data and we can only estimate though the methods you mentioned like Increase in trading volume and the likes.

[Dust Farmer]

Looks like the data comes from Sensor Tower. The name is familiar if you're a gacha game player. I believe some of their stats are hard to verify, so always take them with a grain of salt. Even if this is true, I also think ranking them by downloads is quite flawed. There's a possibility of overlap if we consider this data to represent the numbers of new crypto users. Even if the placement ends up being true, I think they need better methodology to do this. CMIIW.

Yeah, I agree. The excitement just got to me in the heat of the moment causing me to ignore the obvious flaws in the thought process. What better ways do you think we can use to get a more accurate estimate?

[Dust Farmer]

Binance took the lead as usual with Coinbase and Bybit following in succession. What was pretty surprising though was that Bitget actually came in 4th surpassing OKX and Kucoin which was an interesting surprise but still understandable looking at the monthly visits and how their token has been doing recently. Anyway, after Kucoin was Gate followed by MEXC, Kraken, and HTX in the order. What do you guys think, is this list accurate or do you have other opinions on the placement?

Yeah, I am not surprised with Binance being on first position specifically, it has become default choice for people recommending a crypto exchange. BitGet popularity might have to do with their wallet app aside from exchange, I am seeing their wallet app has really become popular lately.

Yeah, Binance is where almost everyone started from...except now when people are starting to pay more attention to other exchanges. As for Bitget, that's a fresh perspective, I always thought it's because of their frequent events and their staking products because that's what got me in the first place. I guess many more factors come into play than I thought about.

[AlphaBeta]

I think the only surprise here is the one you mentioned about Bitget coming fourth in the ranking.

Although when you think about it, this has been building up for a while, I cannot count the amount of times I came across tweets about people that profitted from one event or promotion on the exchange, and I think this would make a lot of people gravitate to the exchange.