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Crypto Industry Telegram’s favorite messaging app exceeds 500 million active users

Telegram, a popular messaging application in the cryptocurrency space, surpassed 500 million active users per month in the first week of January, according to Telegram CEO Pavel Durov.

In the last 72 hours, Durov said, the app has seen a huge influx of new users, with an additional 25 million people registering to use the platform. These new users come from all over the world, with the majority – 38% – coming from Asia.

About 27% come from Europe, 21% from Latin America and 8% from the Middle East and North Africa (Mena region). About 200 million people used Telegram in 2018, which means that consumer growth has exceeded 150% in two years.

Telegram may have benefited from changes to the privacy policy of competing Whatsapp. The latest updates to Whatsapp’s privacy policy require users to share their personal information with the parent company Facebook or to stop using the service entirely.

These changes are believed to have made users uncomfortable sharing more of their personal information with Facebook to leave Whatsapp and join privacy-oriented competitors such as Telegram or Signal.

Unlike other competing messaging apps, Telegram does not share personal information and offers encrypted chats.

Posting on his personal telegram channel on January 12, Durov said:

People no longer want to share their personal data with free services. They no longer want to be held hostage to technology monopolies that seem to think they can get away with anything, as long as their applications have a critical mass of users.

The CEO of Telegram added that “with half a billion active users and accelerating growth, Telegram has become the largest refuge for those looking for a communication platform committed to confidentiality and security.”

In 2020, Telegram reports new registered users of 1.5 million every day, far from the current influx of people joining the platform. “We’ve had a surge of withdrawals throughout our 7-year history of consumer privacy. But this time it’s different, “Durov said.

So far, all services in Telegram have remained free. However, Durov announced in December that some services could now be monetized. He said that additional functions for “business teams and users with advanced needs” will appear and these functions will be paid for because they are “resource-intensive”. Ordinary users will continue to use Telegram for free, he stressed.

Telegram tried to launch its own cryptocurrency, called Gram, through the blockchain platform TON, but was blocked by the US Securities and Exchange Commission. That left Pavel Durov, who raised $ 1.7 billion from selected investors for the project, which is burdened with $ 1.2 billion in debt and $ 18.5 million in sanctions.

Some TON investors are now preparing a lawsuit against Durov to try to force the businessman “to sell part or all of Telegram and pay off investors because he spent money on Telegram,” according to a Forbes report. Durov is said to have spent $ 500 million of TON money to upgrade Telegram, something investors say was not part of the original deal.

What do you think about the influx of new users in Telegram? Let us know in the comments section below.

Labels in this story

Asia, Europe, Facebook, gram cryptocurrency, Latin America, MENA, messaging app, Pavel Durov, Signal, Telegram, Telegram user growth, TON blockchain, USSecurities and Exchange Commission, WhatsApp

Image credits: Shutterstock, Pixabay, Wiki Commons, Telegram,

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