Mode’s trading volumes have grown 110% month-on-month since August 2020 as the Bitcoin app’s simplicity and passive income service continue to attract new customers.
Mode has launched its Android app, which matches the iOS version with the same core features such as an easy sign-up process, free and instant GBP bank transfers, and Open Banking top-ups in British pounds. Customers can make use of the Bitcoin Jar service, which rewards them for holding Bitcoin.
Janis Legler, Chief Product Officer at Mode, said: “After the initial launch of the Mode app on iOS, it quickly became apparent that we needed to release an Android version as soon as possible to satisfy the untapped demand from retail investors for our easy-to-use Bitcoin product. For the past few months, the engineering and design teams have been working really hard to deliver an experience that feels special on Android, yet still unmistakably Mode. We’re excited that the time has finally come, and we couldn’t be happier to be able to finally bring the Mode experience to everyone.”
Mode saw its customer numbers grow by 500% from August to December 2020 and reached n.2 in the App Store’s UK finance category rank. January 2021 was another record-breaking month in terms of Bitcoin traded on the platform, according to the firm. Volumes grew by more than 130% compared to December 2020.
Jonathan Rowland, Executive Chairman at Mode, commented: “Releasing the Android app is a very exciting milestone for the development and expansion of Mode. We have estimated that Android users represent more than half of the cryptocurrency population, presenting a much wider market size to scale and the opportunity to significantly accelerate our user growth. Today marks another key step in our mission to provide investors with access to next-generation Bitcoin products.”
It was in February 2020 that R8 Group’s London-based fintech firm Mode announced the launch of its Bitcoin banking mobile iOS app. Available to users globally, except in the United States of America, the app is backed by Twitter co-founder Biz Stone. Mode charges a fee of 0.99% at the time of purchasing and selling Bitcoin. The platform is partnered with leading digital asset custodian BitGo.
Mode’s competitive edge is its simplicity as the app avoids needlessly complex processes and focuses on a responsive UI and UX with a new and innovative Bitcoin product. Mode’s trading volumes have grown 110% month-on-month since August 2020.