UAE Sees 41% Surge in Crypto App Downloads in 2024, Reaching 15 Million Installs

The cryptocurrency market in the United Arab Emirates (UAE) has experienced a significant boom in 2024, with crypto app downloads soaring by 41%, according to data from app analytics platform AppsFlyer. In total, crypto apps saw 15 million downloads in the UAE this year, a sharp increase from 6.2 million in 2023. This surge was driven by a combination of market trends, increased adoption, and aggressive marketing strategies.

A Surge in Crypto App Adoption

The most notable growth occurred in the second half of 2024, with crypto app installs exceeding 1 million per month during the final quarter. December saw a particularly remarkable spike, with 2.8 million installs, marking the highest number for the year.

AppsFlyer attributes much of this rapid adoption to a variety of factors, including global market shifts and political developments. As the crypto landscape continues to evolve, these trends have contributed to an increasingly favorable environment for cryptocurrency in the UAE.

Key Drivers of Crypto Adoption

One of the significant events impacting crypto app downloads in the UAE was the victory of Donald Trump in the United States presidential election on November 6, 2024. His pro-crypto stance and promises to make the US the "crypto capital of the world" sparked optimism within the global crypto community. Trump's public support for cryptocurrencies, including his vow to end the “war on crypto,” played a pivotal role in the adoption of crypto apps across various regions, including the UAE.

Shani Rosenfelder, director of market insights at AppsFlyer, highlighted the correlation between Trump’s election win and the acceleration of the UAE’s crypto market momentum. “There has been a strong correlation between these market factors and the UAE’s crypto market momentum. Moreover, the outlook continues to be favorable, presenting an opportunity for crypto companies to rapidly grow their user bases during this period of market uptick,” Rosenfelder explained.

Additionally, Trump’s surprise launch of his own memecoin in January 2024 attracted a surge of first-time investors to the crypto market. This sparked increased activity on major crypto platforms, including Crypto.com, Moonshot, and Coinbase, which dominated the US Apple App Store's finance category. Although the memecoin attracted new investors, a report from Chainalysis revealed that many of them faced substantial losses, with 813,000 crypto wallets losing up to $2 billion in total.

Aggressive Marketing Drives Growth

Despite the challenges associated with user retention, aggressive marketing campaigns played a key role in driving crypto app traffic in 2024. According to AppsFlyer, 60% of crypto app traffic in the UAE was driven by these marketing efforts. However, retention remains an ongoing challenge. The data showed that one in five crypto apps were uninstalled within 30 days, highlighting the difficulty in keeping users engaged once they download the apps.

Nonetheless, the AppsFlyer team remains optimistic about the continued growth of crypto apps in the UAE. They point to the fact that January 2024 alone saw nearly 3.5 million installs—more than half of the total number of installs for the entire year of 2023. This indicates a strong and sustained interest in crypto apps, with the potential for even greater growth in 2025.

Rosenfelder noted, “Put in perspective, that’s over half of all installs seen in the country through all of 2023. Clearly, there’s still tremendous potential to be had, and with 2025 on track to be a record-setting year, prudent crypto app marketers must use every tool in their arsenal to gain and retain market share.”

The Outlook for 2025

Looking ahead, the UAE's crypto app market shows no signs of slowing down. As the adoption of cryptocurrency continues to rise globally and more investors show interest in digital assets, the UAE is positioning itself as a key player in the crypto space. With a rapidly expanding user base and aggressive marketing efforts continuing to drive growth, 2025 is poised to be another record-breaking year for crypto app downloads in the UAE.

The success of crypto apps in the UAE highlights the country’s growing influence in the global cryptocurrency market. As crypto adoption continues to increase, it will be interesting to see how the sector evolves and what new trends and opportunities emerge in the year ahead.