Robinhood and Coinbase are now the world’s most popular iPhone apps

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Robinhood and Coinbase are now the globe's near pop iPhone apps

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Ordinarily, the elevation slots of the iPhone App Store are taken up by the familiar icons of TikTok, Snapchat and Instagram, but not today.

According to Sensor Belfry'southward tracking, the top spots now belong to ii investment apps: Robinhood and Coinbase. TikTok, YouTube, Snapchat and Instagram take to make practise with slots iii-6.

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It's a similar  moving picture on the Google Play Store. Here, Coinbase is sixth and Robinhood 7th, while the slots above are taken up with diverse gratis games and video calling favorite Zoom.

To be articulate, Sensor Tower's rankings runway momentum rather than the total volume of downloads in social club to brand the charts more reactive to the app world's movers and shakers. Simply even with this caveat, the leap for Robinhood and Coinbase is pretty amazing, and reflects the sudden enthusiasm for casual app-based investment that has gripped the internet in recent months.

Robinhood made waves back in January when information technology was the middle of the and then called "meme stock" blast that saw the r/wallstreetbets subreddit driving shares in GameStop up from $17 to a loftier of $347.51. This briefly saw Robinhood putting restrictions on the trading of sure shares, which pushed many onto alternatives like Webull (73rd on Sensor Tower'southward rankings).

At the time of writing, GameStop shares sit at a much lower $154.69. But that's still 810% up on the initial value. The interest now isn't purely around GameStop, with certain r/wallstreetbets users attempting to bulldoze upwards the value of the AMC theater concatenation, Bed Bath and Beyond, and the beleaguered BlackBerry company.

Coinbase is a bit more than straightforward: information technology'due south a cryptocurrency trading platform that aims to simplify the procedure of ownership the likes of Bitcoin, Ethereum and Litecoin by hosting the user's wallet onsite. With Bitcoin recently hitting over $64,500 a coin, there's no real mystery equally to the app's popularity here, although things accept dipped a trivial since that high, and the currency sits only nether $62,000 at the fourth dimension of writing.

While the two apps aren't straight related, the fact that their sudden burst of popularity has come up at the same time likely isn't a coincidence. Both allow inexperienced investors to plough a small amount of money into something much larger in a very short corporeality of time. For experienced investors, this kind of volatility is a ruby-red flag, merely recent success stories in cryptocurrency and meme stocks mask the huge risk of losing everything. The social media apps that usually occupy the tiptop slots, for all their faults, don't carry that item risk.

If you are tempted to download Robinhood and Coinbase, our communication is clear: simply invest what yous can afford to lose.

• More: How to buy Bitcoin

Freelance contributor Alan has been writing near tech for over a decade, covering phones, drones and everything in between. Previously Deputy Editor of tech site Alphr, his words are constitute all over the spider web and in the occasional mag too. When not weighing upward the pros and cons of the latest smartwatch, you'll probably find him tackling his ever-growing games backlog. Or, more than likely, playing Spelunky for the millionth time.

Source: https://www.tomsguide.com/news/robinhood-and-coinbase-just-overtook-tiktok-as-worlds-most-popular-apps

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