Square’s Cash App managed to achieve a massively important thing these days on its road to mainstreaming Bitcoin usage.
It just became the most popular app in the finance category on the U.S. Google Play Store, and the great thing is that it’s ahead of PayPal.
Cash App is the most downloaded fiance app in Google Play Store
The app has spent a lot of the past year gaining massive amounts of ground within the millennial market segment. Now, the app is America’s most downloaded finance app on Google Play.
Back in August, CCN reported that Cash App was able to surpass Venmo in order to go into the second place on the ranking behind PayPal with a steady growth rate of 154%.
During the very same month, the company revealed that they enabled Bitcoin trading services for users in all the 50 states of the U.S.
2018 is the year that marks record growth for Square and massive revenue and profit numbers which have all been driven by the exploding popularity of Bitcoin usage among the app’s users.
Back in August the Square CFO Sarah Fair said that the company is seeing real growth as a “result of the strong performance of Cash App ever since the company enabled bitcoin trading services,” writes CCN.
100% increase in profits during Q1 and Q2 2018
The company also revealed during the same month that it managed to record a 100% increase in crypto profits in Q2 and Q1 despite the bear market which has been persisting most of 2018.
The company also made sure to highlight the fact that even if crypto plays a vital role in future products and new versions of existing products, the tokens are not seen as the most critical monetization engine.
The company’s overall end goal is to improve the utility of Cash App. Square has been enjoying a great 2018.
After finishing Theatrical Journalism at the Faculty of Theatre and Television in Cluj-Napoca, Rada reviewed movies, books, theatre pieces and she also wrote articles from the IT niche as a content editor for software producers. At the moment, she is working with various online advertising firms.