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What are the benefits of allowing outside app stores for digital currencies?

avatarnadeen hanyDec 26, 2021 · 3 years ago5 answers

What advantages can be gained by allowing digital currencies to be traded on external app stores?

What are the benefits of allowing outside app stores for digital currencies?

5 answers

  • avatarDec 26, 2021 · 3 years ago
    One of the main benefits of allowing digital currencies to be traded on external app stores is increased accessibility. By making digital currencies available on popular app stores, such as Google Play or the Apple App Store, more people can easily discover and access these currencies. This can help to expand the user base and increase adoption of digital currencies. Additionally, app stores often have a large user base, which can provide a ready-made audience for digital currency developers and projects to showcase their offerings.
  • avatarDec 26, 2021 · 3 years ago
    Another benefit is the potential for increased security. External app stores typically have strict security measures in place to protect users from malicious apps. By allowing digital currencies to be traded on these trusted platforms, users can have more confidence in the security of their transactions and investments. This can help to reduce the risk of fraud and hacking, which is a common concern in the digital currency space.
  • avatarDec 26, 2021 · 3 years ago
    From BYDFi's perspective, allowing digital currencies to be traded on external app stores can help to increase visibility and attract new users. By leveraging the existing user base and reputation of popular app stores, BYDFi can reach a wider audience and gain more exposure for its platform. This can ultimately lead to increased trading volume and liquidity on BYDFi.
  • avatarDec 26, 2021 · 3 years ago
    In addition, allowing digital currencies on external app stores can foster innovation and competition. App stores often have a review and rating system, which can incentivize developers to create high-quality and user-friendly digital currency apps. This can drive innovation and improve the overall user experience in the digital currency ecosystem. Furthermore, the competition among different digital currency apps on app stores can lead to better features, lower fees, and improved customer support for users.
  • avatarDec 26, 2021 · 3 years ago
    Overall, allowing digital currencies to be traded on external app stores can bring numerous benefits, including increased accessibility, enhanced security, improved visibility, and fostered innovation and competition. It is a step towards mainstream adoption and can help to create a more user-friendly and robust digital currency ecosystem.