When cryptocurrency enthusiasts rely on mobile applications, there are always some pitfalls to take into account. Virtually all applications require users to provide the tool with access to various parts of the mobile device. In India, this situation is even worse, due to the vastly higher number of app permissions put in place. This is something to keep a close eye on, as it can cause problems in the long term.
Using Bitcoin Apps in India is Tricky
Cryptocurrency enthusiasts in India who use either Android or iOS may want to keep close tabs on their application permissions. A new report confirms the average mobile app in India requires 45% more permissions than in the rest of the world. This is a very big discrepancy, yet it also shows how users are potentially exposed to different risks in the process. If any information leaks, things can go from bad to worse fairly quickly.
To the outside world, this inflated requirement in app permissions doesn’t make too much sense. It is not uncommon for applications asking access to contacts, the camera, and so forth. However, in India, that can go a lot further. It is not uncommon for applications downloaded in India to hook into text messages, the microphone, and even call logs. This makes very little sense, primarily because those requirements shouldn’t be in place to begin with.
Furthermore, it would appear most of these permission requirements are not even necessary to properly execute the mobile application in question. There is no reason for developers to access all of this extra information, as they will not make use of it whatsoever. This raises even more questions as to why these permissions are even in place. If they don’t affect the core functionality, it will only create bigger risks in terms of potential data leaks.
Moreover, it would appear most of the “additional data” is simply sold to third-party advertisers. Although this can be a lucrative venture for mobile app developers, they are purposefully putting consumers at risk by pursuing this option. This also puts an interesting spin on how Indian cryptocurrency users may find themselves in a bit of a pickle.
India has no love lost for Bitcoin and altcoins, even though its official regulatory stance remains unclear to date. This research provides a lot of viable information as to how mobile applications in India are very different from the rest of the world.
Although no money has been stolen from cryptocurrency users so far, it may be in people’s best interest to limit the exposure of personal data to these third-party applications as much as possible. One never knows what may happen, as cryptocurrency has attracted a lot of attention from criminals over the years.