The popular messaging app Telegram can potentially bring a billion new users into the world of cryptocurrency, according to Ruslan Fakhrutdinov, the CEO of X10 hybrid crypto exchange. With Telegram being one of the most downloaded messaging apps globally, it could play a significant role in mainstream crypto adoption.

Telegram’s Potential for Crypto Growth:

Fakhrutdinov highlights that Telegram, with its vast user base and low acquisition costs, is a hotbed for crypto activities. The platform’s ability to onboard users quickly and affordably makes it a prime candidate for facilitating the growth of cryptocurrency users.

X10 exchange recently launched on the mainnet and is now developing a Telegram-based Mini App for digital asset trading. This app is designed to attract retail investors by offering a simple and intuitive user experience. Unlike sophisticated trading platforms, this Mini App aims to cater to new users who are unfamiliar with complex trading tools.

Retail User Adoption:

Fakhrutdinov believes that simplifying the onboarding process and providing a user-friendly experience will drive retail user adoption. The Mini App will include all markets available on the X10 exchange and will use the same order book for handling trades. This approach aligns with their goal of reaching one billion crypto users.

Justin Hyun, the Ton Foundation’s director of investments, describes Telegram as a “Trojan horse” for mass blockchain adoption. He emphasizes the importance of creating simple apps with actual usability to onboard the next 500 million users by 2028. By abstracting complexity away from users, these apps can provide a seamless experience that integrates blockchain technology without overwhelming users.

Incentives for Users:

Some Telegram Mini Apps will offer Web3-specific financial incentives to encourage user engagement. By providing tangible benefits, these apps can attract more users to the blockchain space.

Telegram’s massive user base and user-friendly interface make it a promising platform for driving cryptocurrency adoption. With initiatives like X10’s Mini App and the Ton Foundation’s focus on usability, Telegram could play a crucial role in bringing the next billion users into the crypto world.