Africa's
cryptocurrency adoption is surging, with Telegram-based crypto communities
growing by an unprecedented 189% since early 2023, according to new research
from cryptocurrency exchange Bitget. The findings highlight a significant shift
in global digital asset adoption from traditional Western markets to emerging
economies.
Young Demographics Drive
Crypto Adoption via Telegram
The study,
which analyzed crypto-related Telegram activity across multiple regions between
January 2023 and August 2024, reveals that Africa's crypto-focused Telegram
groups have expanded to include over 3 million users, driven by a predominantly
young population where more than 56% are under 25 years old.
“The
leading factors for crypto adoption are economic instability, limited access to
banking services, the large number of tech-savvy youth, and the active
advancement of innovation in digital finance,” the report states.
Eastern
Europe has emerged as another significant growth hub, particularly in Ukraine,
where users increasingly turn to cryptocurrencies amid economic uncertainty and
currency volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
Read this Term. The region's cryptocurrency market is projected to reach almost
34 million users by 2025, with a current user penetration rate of 14%.
In Asia,
young investors dominate the crypto landscape, with users aged 18–39 accounting
for approximately 90% of cryptocurrency investors. This trend is particularly
pronounced in Southeast Asia, where Bitget reported a 216%
increase in users during 2024.
Western
Europe, by contrast, shows more modest growth, with regulatory constraints and
market maturity leading to slower adoption rates. The region's crypto-themed
Telegram groups grew by only 11% during the study period.
Future Outlook
The
research identifies
millennials (aged 28–43) as the largest cryptocurrency user group,
representing 44.3% of global users. This demographic alignment extends to
Telegram usage, where the 25–34 age group comprises 29.4% of users.
Looking
ahead, the cryptocurrency market in Africa is projected to reach 54 million
users by 2025, with Nigeria and South Africa leading the charge.
The
research emphasizes the
crucial role of mobile technology in driving adoption. Telegram, with its
900 million monthly active users, has become the primary platform for
cryptocurrency communities in emerging markets. India alone generates 84
million new downloads monthly, compared to just 6 million in the UK.
The
combination of young populations, increasing mobile connectivity, and limited
access to traditional banking services positions these emerging markets to
maintain their leadership in cryptocurrency adoption for the foreseeable future.
Telegram, WhatsApp Lead On
the Number of Traders Who Lose Money to Scams
Telegram’s
popularity among investors is reflected in another, less favorable statistic:
it leads
in the number of investment scams and hacks. A joint survey by Finance
Magnates and FXStreet found that 60% of traders scammed on Telegram
suffered financial losses. Known for hosting active trading communities,
Telegram offers privacy, anonymity, and tools for creating channels and groups,
making it a preferred platform for traders. However, these same features also
make it easier for scammers to target active traders precisely.
Telegram
has become a favored platform among traders, hosting
Hosting
Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin
Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin
Read this Term numerous active
communities—a contrast to more public platforms like Facebook. Traders are
drawn to Telegram's privacy features, anonymity, and its flexibility to create
dedicated channels and groups. However, these same attributes make it easier
for scammers to target active traders with precision.
WhatsApp,
with around 2.78 billion users, also provides end-to-end encryption and
frequent feature updates, drawing traders to its platform. Yet, its anonymity
and private messaging make it easier for scammers to operate undetected,
presenting challenges for external monitoring and reporting of scams.
Africa's
cryptocurrency adoption is surging, with Telegram-based crypto communities
growing by an unprecedented 189% since early 2023, according to new research
from cryptocurrency exchange Bitget. The findings highlight a significant shift
in global digital asset adoption from traditional Western markets to emerging
economies.
Young Demographics Drive
Crypto Adoption via Telegram
The study,
which analyzed crypto-related Telegram activity across multiple regions between
January 2023 and August 2024, reveals that Africa's crypto-focused Telegram
groups have expanded to include over 3 million users, driven by a predominantly
young population where more than 56% are under 25 years old.
“The
leading factors for crypto adoption are economic instability, limited access to
banking services, the large number of tech-savvy youth, and the active
advancement of innovation in digital finance,” the report states.
Eastern
Europe has emerged as another significant growth hub, particularly in Ukraine,
where users increasingly turn to cryptocurrencies amid economic uncertainty and
currency volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
Read this Term. The region's cryptocurrency market is projected to reach almost
34 million users by 2025, with a current user penetration rate of 14%.
In Asia,
young investors dominate the crypto landscape, with users aged 18–39 accounting
for approximately 90% of cryptocurrency investors. This trend is particularly
pronounced in Southeast Asia, where Bitget reported a 216%
increase in users during 2024.
Western
Europe, by contrast, shows more modest growth, with regulatory constraints and
market maturity leading to slower adoption rates. The region's crypto-themed
Telegram groups grew by only 11% during the study period.
Future Outlook
The
research identifies
millennials (aged 28–43) as the largest cryptocurrency user group,
representing 44.3% of global users. This demographic alignment extends to
Telegram usage, where the 25–34 age group comprises 29.4% of users.
Looking
ahead, the cryptocurrency market in Africa is projected to reach 54 million
users by 2025, with Nigeria and South Africa leading the charge.
The
research emphasizes the
crucial role of mobile technology in driving adoption. Telegram, with its
900 million monthly active users, has become the primary platform for
cryptocurrency communities in emerging markets. India alone generates 84
million new downloads monthly, compared to just 6 million in the UK.
The
combination of young populations, increasing mobile connectivity, and limited
access to traditional banking services positions these emerging markets to
maintain their leadership in cryptocurrency adoption for the foreseeable future.
Telegram, WhatsApp Lead On
the Number of Traders Who Lose Money to Scams
Telegram’s
popularity among investors is reflected in another, less favorable statistic:
it leads
in the number of investment scams and hacks. A joint survey by Finance
Magnates and FXStreet found that 60% of traders scammed on Telegram
suffered financial losses. Known for hosting active trading communities,
Telegram offers privacy, anonymity, and tools for creating channels and groups,
making it a preferred platform for traders. However, these same features also
make it easier for scammers to target active traders precisely.
Telegram
has become a favored platform among traders, hosting
Hosting
Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin
Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin
Read this Term numerous active
communities—a contrast to more public platforms like Facebook. Traders are
drawn to Telegram's privacy features, anonymity, and its flexibility to create
dedicated channels and groups. However, these same attributes make it easier
for scammers to target active traders with precision.
WhatsApp,
with around 2.78 billion users, also provides end-to-end encryption and
frequent feature updates, drawing traders to its platform. Yet, its anonymity
and private messaging make it easier for scammers to operate undetected,
presenting challenges for external monitoring and reporting of scams.
