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They can probably track you more effectively on their app.
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That may be true, but it is only marginally better. I suspect anything you download from the Play Store means you are pretty much opted in to full tracking whether you like it or not. But, I trust Google to maintain "security" of my data much more than I do any of the independent app providers. Security and "privacy" are two different things. The app I was using was for account backup purposes. Worked well, but apparently Google doesn't think it is secure for some reason.