Most Top Crypto Apps Track Users: Robinhood Most Data-Hungry, Binance Brings a Surprise
Popular cybersecurity company Surfshark recently analyzed the 15 most popular crypto apps to find out how much data each collects. They found that nine of these use collected data to track their users. But it’s not just how much data is collected, but how it’s managed, Lead Researcher Agneska Sablovskaja told Cryptonews. She added that the company was particularly surprised by Binance and Binance.US.
Here’s what the experts found.
Per Surfshark’s Sablovskaja, “data privacy stands as a cornerstone of trust, particularly in the realm of cryptocurrency. Our study reveals the data collection practices of leading crypto applications, aiming to foster vigilance and informed usage among individuals navigating these sensitive digital territories.”
The company selected 15 apps, with the most downloads in 2023 in Western countries, from the AppMagic platform.
The team collected data from each app’s Apple App Store page on November 7, 2023. Each page provides a list of 32 unique data points grouped into 12 categories. They initially published the report on November 14.
However, talking with Cryptonews, the team re-checked the data this week, confirming that “all analyzed apps collect the same amount and types of data.”
Also, all analyzed crypto apps are still in the top 15 in Western countries.
The article notes a couple of differences that do exist below.
Among the 15 popular crypto apps, Robinhood “stands out as the most data-hungry,” the report found. It collected 25 out of 32 possible user data points in November.
However, a difference found this week compared to November is that Robinhood now uses the data point “Device ID” to track the user. Per Surfshark,
“This means that nine of the [fifteen] apps, not eight, use collected data to
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