The cryptocurrency community has faced challenges with the Apple App Store when it comes to installing trading apps. Users often need to download TestFlight or obtain the enterprise developer version from the exchange’s official website (Apple Developer Program). Following this, users must navigate to “Settings > General > VPN & Device Management” to click “Trust” for the developer.
Once the app is successfully installed through TestFlight, it typically has a validity period of three months, requiring reinstallation upon expiration. Enterprise developer versions may also lose their signatures sporadically, requiring a fresh download and install, along with clicking “Trust” for the developer again.
However, clicking “Trust” does not necessarily imply trust. Even deceptive apps installed by certain groups require users to click “Trust” for the developer, potentially compromising user data.
Many apps fail to meet Apple’s stringent review policies and cannot be listed on the App Store. As a workaround, some exchanges distribute their apps as “internal applications” through enterprise certificates. This practice raises concerns about security and user privacy.
Apple has blocked several enterprise developer accounts suspected of hosting decentralized applications and virtual currency trading, leading to verification failures for apps like OKEX and Gate.io. This has resulted in a cycle of changing enterprise developer accounts and app updates, requiring users to download the new app and click “Trust” for the developer again.
Another method used is through Apple TestFlight, which allows developers to distribute beta versions. This method bypasses the App Store review process and may expose users to potential risks. Limitations on the number of downloads also apply, typically capped at 10,000.
It is important to note that the Apple App Store’s review process is rigorous and globally recognized as the strictest. Compliance with Apple’s guidelines is crucial for app listings and ensures user security.
In evaluating the top 10 cryptocurrency derivatives exchanges listed on CoinMarketCap, it is evident that exchanges like Bybit, OKX, Bitget, Kucoin, WEEX, and LBank have a strong presence on the App Store in various regions. This indicates compliance with regulatory standards and a commitment to user security and trust.
The availability of exchange apps on the App Store reflects their adherence to policies and regulations, stable performance, and official endorsement from Apple. For WEEX, being listed on the App Store signifies credibility and user trustworthiness, positioning it as a reliable choice for cryptocurrency traders.
Top 10 Derivatives Exchanges’ Availability on the App Store
According to statistics, Bybit, OKX, Bitget, Kucoin, WEEX, and LBank have the most comprehensive presence on the App Store among the top 10 derivatives exchanges. This includes regions in Latin America such as Brazil (BR) and Mexico (MX), African regions like Nigeria (NG), as well as Middle Eastern areas like Qatar (QA), Saudi Arabia (SA), and the United Arab Emirates (AE).
This means that the majority of global cryptocurrency users in various countries and regions can directly install these exchanges’ apps from the Apple App Store, without the need for local download channels provided by the exchanges’ official websites. These installations are permanent, automatic, and do not require re-verification. However, due to policy restrictions, iOS users in mainland China still need to download locally or use an overseas ID for installation.
Additionally, according to Apple App Store review guidelines, apps attempting to deceive the system (such as falsifying information during the review process, stealing user data, plagiarizing other developers’ work, or manipulating ratings) will be taken down. In other words, Bybit, OKX, Bitget, Kucoin, WEEX, and LBank are considered reliable and trustworthy exchanges in terms of user base, reputation, and app ratings in the most extensive regions globally.
It is surprising that Binance, the world’s largest exchange, is not available in Malaysia. In fact, many activities announced on the Binance official website have a “List of Countries or Regions with Participation Restrictions” that includes Malaysia.
Why can some exchanges be listed on the Apple App Store while others cannot? WEEX exchange also be listed on Apple Store, so you might be curious why? This brings us to the App Store’s review policies.
App Store’s Review Policy for Cryptocurrency Exchange Apps
Apple’s App Store review guidelines encompass five main categories: security, performance, business, design, and legal. The security section includes aspects like data security and prohibits providing false information or functionality. The legal section mandates that any app provided to users in a specific region must comply with all legal regulations of that region.
In October of last year, when Apple updated its review guidelines, it also made amendments to the review regulations for cryptocurrency exchanges. It stated that there are no objections to cryptocurrency exchanges or other apps facilitating open cryptocurrency trading, provided these exchanges obtain operational licenses in the regions where the apps are available.
In accordance with section 3.1.5 of the App Store Review Guidelines, approved exchange apps may facilitate cryptocurrency transactions or transfers, but must operate exclusively in countries or regions where they hold appropriate licenses and permissions for cryptocurrency trading services.
The screenshot above illustrates the feedback received by a certain exchange app when rejected by Apple for not aligning with App Store Guideline 3.1.5 – Business – Payments – Cryptocurrencies: Your application facilitates the transfer of virtual currency, but it is not submitted by the corresponding exchange or an accredited financial institution. Instead, it utilizes a third-party exchange’s API, which is not applicable for the App Store. To address this issue, please provide written evidence demonstrating that you possess the necessary licenses and permissions.
According to the latest statistics from market research firm MarketSplash, as of July 2023, the number of iPhone users has reached nearly 1.6 billion. Japan boasts the highest proportion at 70%, followed by North America at 56%, and Sweden at 54%. As of January 2023, iOS holds a market share of 57.78% in the United States, 35.87% in Europe, and 27.63% globally.
The substantial user base of iOS, especially prevalent in developed countries and among high-net-worth individuals, is attributed to Apple’s closed ecosystem, stringent app review process, data encryption, excellent privacy protection, and lower incidence of malware. Over time, the perception of iOS ecosystem being “safer” has been reinforced, leading the majority of users to feel more confident in downloading applications from the Apple App Store, knowing they have undergone rigorous scrutiny by Apple.
For crypto exchanges like WEEX and Binance to be listed, that means they are unwilling to sacrifice this valuable user base. Hence, they are willing to invest significant resources to adhere to policies and regulations of various countries and regions, as well as Apple’s review standards worldwide. This ensures compliance with legal jurisdictions, gains user trust, and expands their presence in the global market.
Therefore,WEEX exchange app being available in numerous countries and regions on the App Store is a testament to its credibility and deserving of greater user trust.
Other relatives:
WEEX will launch their own platform token WXT! If your are more interested in WEEX’s platform token WXT! Check here find more:https://www.weex.com/wxt
Trade WXT | Platform token of WEEX(WXT)
WXT is the native token introduced by WEEX Global, operating on the ERC-20 standard protocol. Designed as a cornerstone of the WEEX ecosystem, WXT serves as a dynamic incentive mechanism, rewarding partners, contributors, pioneers, and active members of the WEEX exchange community.
Benefits for WXT Holders
Token Name: WEEX Token WXT
Token Symbol: WXT
Chain: Ethereum(ERC20)
Contract Address: 0x1B66474c8ECA3827f16202907F41F63785579716
Issue Price: $0.01
Total Supply: 10,000,000,000
Initial Circulating Supply: 3,900,000,000
Registration Date: 2023.08.01
WXT Distribution and Release:
Holding Incentives: 1.5 Billion WXT (15%)
Team Incentives: 2 Billion WXT (20%)
WEEX Protection Fund: 1.5 Billion WXT (15%)
WEEX Project Incubator Fund: 1.5 Billion WXT (15%)
User Acquisition Campaign: 1.5 Billion WXT (15%)
Affiliate Partner Program: 1.5 Billion WXT (15%)
Private Placement: 500 million WXT (5%)
WXT Audit Report:
The audit report is conducted by BEOSIN, a leading Web3.0 smart contract audit firm, covering aspects such as WXT smart contract code, network security, risk management, etc. The results are secure and reliable.
For further details, you can visit the website https://www.weex.com/wxt or join the Telegram channel for more information.
