Cryptocurrencies are global by nature.
As decentralised currencies with no central authority that sets their value, they have no central location.
There is no real barrier to buying cryptocurrency, this means that there are miners, investors and traders in every country in the world.
The maximum number of crypto traders (in descending order) are in USA, Japan, South Korea, UK and Russia.
Majority of Bitcoin miners are in China, USA, Canada, Sweden, Norway, Georgia, Armenia and Serbia
Cryptocurrency adoption (as a percentage of population) is highest in Turkey, Brazil, Colombia, Argentina and South Africa
As knowledge and interest in cryptocurrency grows around the world, it is essential for information to be available in multiple languages. Translating blockchain information makes it accessible to global users and drives worldwide adoption of cryptocurrency.
Cryptocurrency & Translation
The official Bitcoin website is available in 28 languages.
The Ethereum website presents information in 27 languages.
Litecoin.org is translated in 23 languages.
All the major cryptocurrency exchanges are available in 12+ languages.
An English only approach means that you are only reaching 20% of crypto investors. This is less than a quarter of investors. Non-English speaking crypto users are too big an opportunity to miss out on.
If information about your token is available in different languages, more people will use your tokens. This will make your network more reliable and more valuable.
ICOs & Translation
If a coin or token’s whitepaper and website is available in multiple languages, it becomes accessible to more people.
If you are launching an ICO to raise funds, consider these trends-
In 2018, according to Google trends, the maximum queries for the term ‘ICO’ came from Slovenia, China, South Korea, Singapore and Netherlands. None of these countries speak English as a first language.
This list of top 10 countries with the most vibrant crypto and blockchain scene has only one English speaking country.
Upcoming ICO, Avalanche, is available in 10 languages
This data makes is clear that translation of information is essential to generate worldwide interest in your Initial Coin Offering. Most developers are aware of this and translate their cryptocurrency whitepaper and website in at least three languages.
If your website and whitepaper are only available in English, you are missing out on millions of dollars from international investors.
The most common languages for website and whitepaper translation (in descending order)
Cointelegraph is available in 9 languages- Arabic, Chinese, German, Spanish, Italian, Japanese, Korean, Portuguese and Turkish. It is the most popular blockchain news and information site on the internet and these languages can be taken as a good representation of their reader base.
CoinMarketCap, the most visited crypto price tracker and portfolio manager is available in 15 languages and 32 currencies.
The languages you choose to translate it can depend on the use case and goals of your token. Some tokens are made for worldwide users and some for regional users. Some coins are for payments and some are for digital asset management
You can pick languages based on your use case, goals, ad placements and user geography.
Cryptocurrency Translation Cost & Return on Investment
Translation is charged per word and the rates depend on the target language. On an average, there are 250 words per page. Translation can cost between $0.07-$0.13 per word depending on the target language.
Using machine translation like Google translate is not feasible as the accuracy is still very low. You can’t use it for translating a whitepaper that you plan to use to pitch to your investors. It translates word-for-word without considering context and intent. It also has trouble translating domain specific terms and idioms.
The best way to handle a cryptocurrency translation project is using a language agency with translation technology – CAT (Computer Assisted Translation). Agencies have a network of native translators who are subject matter experts. The technology helps you lower costs, maintain quality and reduce turnaround time. It also has features to protect sensitive data.
Translating your website and whitepaper is a one-time investment that will pay dividends for years to come. More languages means more investors, more users and more value.
We can help you:
- Translate your Whitepaper
- Localize your website
- Localize your ads and videos
- Translate your financial reports
Get in touch with us here to see how we can help your token succeed globally.