Communicating with crypto fans requires specific skills and attributes.
Theres anesoteric languageto learn,newsocial normsto adopt, and atoxically-positive philosophyto embrace.
But perhaps the most important credential of all is a Telegram account.
The social media and messaging app provides both public square and private rooms for crypto enthusiasts.
So popular is the platform that those without it risk being ostracized from the community.
Notably, the apps appeal has endured despite fears it jeopardizes a tenet ofcryptocurrencies: security.
A security complex
Since its founding in 2013, Telegram has been heavily marketed asprivacy-centric.
Soon after, Durov fled Russia and launched Telegram.
Durovs story lent credibility to his claims that Telegram is private and secure two precious attributes for cryptocurrency advocates.
But critics argue that the reality doesnt live up to the hype.
But their biggest concern involves end-to-end encryption (E2EE).
The app does provide an opt-in E2EE but only for Secret Chats, which disable many platform features.
Group chats, which are heavily used in the crypto community, can never be end-to-end encprrypted.
Cybersecurity experts recommend switching to apps with default E2EE, such as Signal.
Web3 challengers are also starting to emerge.
In theory, the organization that runs Telegram can censor any channel, user, or individual post.
The crypto community needs communication tools that are as resistant as [the] networks they are building.
Durov, Telegrams CEO, has regularly defended his encryption strategy.
He argues that E2EE renders many of the platforms features obsolete.
These features help explain why crypto folk are willing to overlook Telegrams security shortcomings.
Beyond chat
Durov insists that E2EE on Telegram sacrifices usability for security.
Chats that arent end-to-end encrypted are instead backed up in the companys cloud storage.
Some of these features are extremely popular in crypto circles.
This means Telegram users can reach far larger audiences particularly given the platformsstrong support for bots.
Channels also offer further opportunities for monetization.
Some traders share exclusive tips in exchange for subscription fees.
Theres [also] things like trading signal groups where they can receive buy/sell signals for specific cryptos.
Many Telegram users are prepared to sacrifice security for these benefits at least until a compelling web3 alternative emerges.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
