The adoption of cryptocurrencies in Africa is growing rapidly, with Telegram-based crypto communities increasing by 189% since early 2023, according to research from Bitget. The study analyzed crypto-related activity on Telegram and found that Africa's crypto-focused Telegram groups now have over 3 million users, driven by a predominantly young population. Economic instability, limited access to banking services, a large number of tech-savvy youth, and innovation in digital finance were identified as key factors driving adoption. Eastern Europe, particularly Ukraine, is also experiencing significant growth due to economic uncertainty. In Asia, young investors dominate the crypto landscape, with Southeast Asia seeing a 216% increase in users. Western Europe had more modest growth due to regulatory constraints and market maturity. The research predicts that Africa's cryptocurrency market will reach 54 million users by 2025. Mobile technology, particularly Telegram, is playing a crucial role in driving adoption. However, Telegram is also a platform favored by scammers, with 60% of traders scammed on the platform suffering financial losses.



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