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African Telegram Crypto Communities Have Grown 183% Since 2023: Bitget

Author: Content Editor
The use and adoption of cryptocurrencies, particularly on platforms like Telegram, have significantly grown in Africa. According to a report commissioned by Bitget, crypto communities on Telegram in Africa grew by 183% between 2023 and 2024. The report predicts that the cryptocurrency market in Africa will have 54 million users by 2025, with Nigeria and South Africa leading in terms of users. Economic instability, limited access to banking services, and a large number of tech-savvy youth are cited as reasons for the rapid growth of crypto in Africa. In contrast, Western Europe has seen much slower growth, attributed to stricter regulations and a more mature financial market. The younger population in African countries, coupled with the appeal of potentially higher income and stable economic conditions, contribute to the increased adoption of cryptocurrencies. Additionally, preexisting knowledge of mobile money apps, such as M-PESA in Kenya, has helped facilitate the acceptance of crypto apps. However, the popularity of cryptocurrencies in countries like Nigeria has attracted government attention, with arrests being made and accusations of enabling financial crimes and money laundering.

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