A recent survey conducted by CoinGecko has unveiled that X, Telegram, and YouTube are the primary platforms where the crypto community sources their news and updates. The study, which took place from June 25 to July 8, highlighted that these three platforms collectively account for 84% of the information consumption among crypto enthusiasts.

Preferred Platforms for Crypto News

According to the survey, over 34% of the respondents primarily rely on X for their crypto news, making it the leading platform in this space. YouTube follows closely, with 23.4% of participants using it as their main source for updates, while Telegram is utilized by 16.0% of the respondents.

“Most of the crypto community consumes their news from social media platforms rather than from news websites.”

While 73.8% of respondents relied on X, YouTube, or Telegram as their main information source, only a small fraction turn to traditional news websites for their updates.

Engagement Levels on Social Media

Although X stands out as the most popular platform overall, less than half of its users (41.7%) consider it their primary social media space for crypto discussions. Telegram and YouTube have similar engagement levels, with 21.5% and 20.8% of participants respectively spending most of their time on these platforms.

“Crypto Discord was the primary social media platform for 6.8% of participants, slightly ahead of the 4.5% who were mainly on crypto Reddit. This might be because Discord and Reddit are more widely considered as supplementary social media platforms for the crypto community.”

Demographics and Experience

The survey, which included 2,558 respondents, reveals that the crypto community prefers to get their news from the same platforms where they are most active. Nearly 70% of participants identified as long-term investors, while 18% were short-term traders, 7% were builders, and 6% were sidelined spectators.

About 46% of respondents were in their first crypto cycle (zero to three years), 41% were in their second cycle (four to seven years), and the rest had more than eight years of experience. Most participants (90%) were based in Europe, Asia, North America, and Africa, with the remainder located in Oceania or South America.

Main Drivers of Crypto Adoption

Binance Square’s early 2024 poll identified high returns, decentralization, and innovation as pivotal factors driving mainstream crypto adoption in Europe, with 20%, 18%, and 17% of respondents highlighting these aspects, respectively. The study also stated that 55% of survey participants use cryptocurrency for everyday purchases, and 10% make weekly cryptocurrency payments.

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