7 Reasons Why So Many Traders Use Telegram

7 Reasons Why So Many Traders Use Telegram

You’ve just started trading, and you’ve noticed something strange. All the other traders seem to use Telegram over other communication apps. You’re not imagining it; most traders prefer Telegram for several reasons.

Traders use Telegram because it gives them more control in community chat rooms, enables bots to provide automatic updates, and reaches a larger audience that’s interested in trading. It also allows them to give updates 24/7 to other traders and encrypts their messages.

In this article, you’ll find seven reasons why many traders use Telegram compared to other communication apps. I explained all of these reasons below, so keep reading.

1. Telegram Offers Traders Control in Community Chats

The leading reason traders prefer Telegram is the moderation tools they can access in community chats. You’ll find plenty of trading groups on the app, sometimes with hundreds or even thousands of other people in the group.

It can be very challenging to control large group chats without certain features. Many other trading communities on other apps might have a lot of spam messages, which can be very frustrating when you’re there to learn about trading. However, Telegram allows the chat’s creator to deal with those issues quickly.

The creator can set time limits between messages, add bots to help moderate the chat, and more. Using Telegram with large groups of people is more convenient since you don’t have to worry about completely losing control of the chat.

2. Telegram Works With Bots

Enabling bots is a significant feature that you get with Telegram. Bots are programs that can moderate the chat when you’re not there, so your group doesn’t get full of spam or unwanted messages. They can time out or ban users who aren’t behaving, allowing you to decide what to do later.

Other chatters can also ask bots questions, so you don’t have to repeat yourself. There are bots that can solve just about any problem a trading group might have. They can even provide automatic updates on stock and cryptocurrency, making them extremely valuable to traders. Some can even make trades on your behalf.

Telegram also supports third-party bots. However, not every other chat service does.

3. Traders Can Connect With a Large Audience

Next, Telegram allows traders to connect with a much larger audience. The maximum group size on Telegram is 200,000 people. Most other chat services can only support groups that are a fraction of that size. For example, WhatsApp limits group sizes to 1,024 people.

So, if a trader wants to interact with a large audience, Telegram is the better choice. Managing huge groups of people is also easier since they can add bots to the group.

Plus, many traders already use the platform, so more keep joining naturally. If you’re looking for a trading group, and all of the best ones are on a particular app, you’ll head to that first.

4. Traders Can Support Each Other 24/7

Chatting apps like Telegram are popular because traders can support each other 24/7. They can share trading advice, talk about changes in the market, and keep in touch quickly. Telegram, in particular, allows bots to send out messages automatically. Traders like to choose bots that provide updates on the market during the day.

Telegram comes with plenty of other features that are useful for traders too. It allows you to create polls, quizzes, and forms that engage other traders in the chat. You can also use those features to improve the chat and offer more trading support to those in it.

Overall, being a successful trader requires you to understand the market. Having more support from other traders can help drastically. Plus, many traders enjoy talking with others with similar interests and sharing their insights.

5. Telegram’s Available on Multiple Devices

Telegram is available on a variety of devices as well. You can access it on your smartphone, iPad, or laptop easily. Some other chat services are only available as a phone app, which isn’t as convenient for most people.

Telegram also runs smoothly on most devices, while other apps might not be as optimized for the device you’re using the most. It can be frustrating to deal with a slow, laggy app when you’re trying to get crucial time-based information on trading information.

So, many traders prefer using Telegram because they can easily swap between their phones and computers to view important messages. 

6. Traders Can Access Crypto Signals

Telegram allows traders to read crypto signals, which are messages about important information in the market. They can predict what coins will do well and help you decide whether to sell or hold.

Since traders can add bots to the chat, these crypto signals can be sent out automatically through Telegram, which is highly convenient for everyone in the conversation.

Since the platform supports large chats, many traders can simultaneously discuss the signals. You can get more insight into predictions with more people studying them. That way, traders have more information to make informed trading choices.

7. Traders Get More Privacy

Lastly, traders get more privacy through Telegram, making it more appealing. Telegram uses encrypted messaging. So, you receive much more security. Since it’s encrypted, only the people in the chat can access the messages.

That means you won’t have to worry about your messages getting hacked or leaked. Trading can be a sensitive topic, so traders must ensure they’re only using encrypted services.

What is Encrypted Messaging?

Encrypted messaging is when the data in a message is scrambled after being sent. It becomes unreadable to anyone outside the chat and can only be decoded with a unique key. That key can only be found on the devices you’re using to send messages, making it extremely difficult for hackers to read your texts.

This feature is a must-have for most traders who don’t want their sensitive data leaked online. So, chat platforms like Telegram that use encrypted messaging are much more popular for traders.

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