After their recent surge in popularity, cryptocurrencies have become far more accessible to the average American. Investors can now buy and sell cryptocurrencies alongside stocks, mutual funds, and other investments at several brokerage firms. Some of the best cryptocurrency exchanges, particularly those with the best cryptocurrency trading apps, have made the process more user-friendly than ever.
Because cryptocurrencies are still somewhat speculative investments, they may not be suitable for everyone. Investors can expect a roller coaster ride whether they make money in the long run or not. That said, if you believe in cryptocurrencies' long-term potential and have a high-risk tolerance, there's nothing wrong with holding some digital currency as a long-term investment.Key cryptocurrency statistics
● Binance is the largest cryptocurrency exchange by revenue and volume, reporting $20 billion revenue in 2021
● Binance has an estimated value of $150 billion, which has declined significantly since the 2022 crypto crash
Coinbase, a Bitcoin and other cryptocurrency trading app. We've been following financial apps for long enough to know that Coinbase is a well-oiled machine in terms of App Store Discovery.
In this study, we'll look at Coinbase's performance over time, the competitive landscape, its keyword strategy, and on-page visuals to learn from its success and replicate it. Here are downloads, across both platforms and globally, over time.
Downloads are related to interest in cryptocurrency, specifically Bitcoin. When Bitcoin makes headlines, Coinbase experiences a surge in new downloads. It can be seen in 2017/18 and again in 2020/21.
Coinbase's competition isn't as straightforward as it is for most of the other apps we've looked at. While there are other apps with similar features, Coinbase's real challenge is getting more people to understand what cryptocurrency is.
Coinbase is by far the most popular of the bunch. Coinbase, with its polished user interface and sleek marketing, has made cryptocurrency ownership as simple as Robinhood-made stock ownership.
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App Store Optimization strategy
We have a good understanding of the competitive landscape and the environment in which Coinbase operates. Let's dive into Coinbase's ASO strategy now, starting with a high-level overview of where Coinbase appears in the App Store, which we can get from the Discover Keyword report.
When we use Appranking
to compare Coinbase and its competitors, we can easily find that Coinbase has more high-quality keywords than 3 other crypto apps.
This is a fantastic example of what a good ASO should look like. That is, when the keywords in the title, subtitle, and keyword list combine so well, the App Store's algorithm receives a lot of strong signals.
Keyword analysis: product page part
Let's get started by looking at the keywords Coinbase uses in its name and subtitle. These two provide the most powerful signals to the App Store's algorithm.
● Name: Coinbase – Buy & sell Bitcoin
● Subtitle: Secure cryptocurrency wallet
Here are the popular keywords that the algorithm sees strictly based on these:
This list contains the most important and relevant keywords in the crypto space, ranging from the most popular currency to where you store it. This name and subtitle combination was undoubtedly the result of careful thought, research, and even iteration. Some of you may "get it" just by looking at the space, but there are so many bad combinations.
Keyword analysis: the Keyword List part
The ability to trade cryptocurrencies is Coinbase's main advantage. The most popular cryptocurrency is Bitcoin, so it's in the app's name, but there are other popular (enough) cryptocurrencies that people search the store for, such as Ethereum, Bitcoin Cash, Litecoin, and, most recently, Dogecoin.
In the keyword list, Coinbase appears to be targeting all of these, as well as their currency codes. Given how well the app's name and subtitle are optimized and how well they combine, this is an excellent strategy.
Along with currencies, we see some of the app's less important features mentioned, which make perfect sense and work very well with the currency names and codes, as well as all of the actions from the name and subtitle.
Screenshot & Video Analysis
So far, Coinbase's ASO has been good, and their screenshots elevate that good to great!
There is no video, which I believe could help a little, and a competitor has one, but it's difficult to fault them for this given how well everything else is thought out.
There’s a lot of great here, so let's break it down:
● Contrast. Black on white is a very safe color combination. While the text is slightly compressed, it is still very readable.
● To the point. Bitcoin raises several concerns, and these screenshots quickly put them to rest.
● Actionable. Every caption provides an additional reason to download.
● Concise. Driving action with a full sentence is simple, but long sentences are often ignored. These expedite the process.
● Visuals are intriguing. Every screenshot has the UI perfectly aligned with the caption. This strengthens the "Should I get this app? Yes! "line of thought
● 90% coverage. There are 9 out of 10 possible screenshots, which is 2 more than the previous average. This means Coinbase has a better chance of converting a page view into a download.
This is a fantastic set of screenshots, and I wouldn't be surprised if it was tested over some time and iterations and did not occur on the first try.
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Coinbase has changed the way ordinary people think about cryptocurrency. They've made it both accessible and legal. That is not an easy task. Sure, market conditions, celebrity support, and opportunities to multiply money all helped, but Coinbase was at the center of it all.
Coinbase's ASO strategy is based on keyword optimization. With strong keyword coverage, the app ranks at the top in the crypto category. With ASO World and Appranking's ASO tools
, I did this entire analysis.