An electronic device and a method for commonly using the electronic device are provided. The electronic device includes a housing, a memory disposed in the housing, a communication circuit in communication with at least one external device, and a processor electrically connected to the memory and the communication circuit. The processor is configured to control for installing at least one application on the memory in response to a login request from a user, receiving a logout request from the user after the at least one application is installed, transmitting data associated with the at least one application to the at least one external device using the communication circuit in response to the logout request, and deleting at least a portion of the at least one application and the data associated with the at least one application from the memory.