Social media is one of the most revolutionary technologies of the 21st century. For example, networks like Facebook, Instagram, Twitter, Telegram and others have impacted the lives of many people around the world. Social networks can influence politics, sports, finance, marketing and more.
Crypto is one of the industries that social media have influenced. Social media has fueled the popularity of cryptocurrencies since the first asset was launched in 2009. Assets like Bitcoin, Cardano, Ethereum, and Dogecoin are thriving on social media.
Social media also has a very high impact on crypto project sentiment. But which social networking platform had a profound impact on crypto? In this article, we will discuss social media platforms that can drive the success of a Crypto project.
Social Media Platforms That Can Drive the Success of a Crypto Project
The major social media platforms that can impact a crypto project are listed below:
Reddit has become the social network with the greatest impact on cryptocurrencies. The internet could easily change someone’s mind about cryptocurrencies. But how?
The basic idea behind the creation of Reddit is a social network with quality discussions. It takes the form of a forum where Redditors use Q&A for discussion. Its forum nature makes it the perfect tool for crypto-related discussions.
The most popular tool for Reddit is the subreddit. A subreddit is a page or section created to discuss a specific topic. It is very similar to a Telegram group or a Twitter page. Many crypto projects today have their subdirectories. So, if you want to find information about a specific exchange, you can visit their subreddit. You can also use the search icon to search for your topic and get information.
Reddit as a platform is very idiosyncratic. In most cases, however, people will share opinions but contain the same hard evidence. Redditors not only praise the good but also criticise the bad. Generally, if you want to comment on cryptocurrency exchanges, wallets, etc., use Reddit. Redditors can easily change anyone’s mind on any topic.
Reddit as a network also allows users to post lengthy articles. Long articles are good because they cover a topic more comprehensively. Forum formats and lengthy discussions can easily change anyone’s mind about cryptocurrencies. Therefore, Reddit is a social network with the highest emotional value.
Twitter is a network with very high sentimental value for crypto. Numerous crypto users share their opinions on Twitter. This makes Twitter the social network with the most crypto users. So how has Twitter changed the crypto perspective?
This social network has many features that make it suitable for crypto. The most relevant functions include:
- Post and comment feature: In general, just like on Reddit, Twitter users can ask questions and wait for answers.
- Hashtags features: The most used tool on Twitter is hashtags. Thousands of hashtags are used when commenting on cryptocurrencies. Every day you see hashtags like #dogetothemoon, #bitcoin and more.
Due to the relevance of Twitter in the crypto space, almost all crypto projects start with a Twitter page. Projects like Bitcoin, Ethereum and Dogecoin have attracted millions of followers on Twitter.
Despite Twitter’s significant influence on cryptocurrencies, discussions involve more emotion than fact. Some opposition to a project is usually a movement against one project to promote another. Therefore, it isn’t easy to have quality discussions on Twitter.
Another social network is Quora, which offers quality crypto discussions. The network is very similar to Reddit in that it is also a forum tool. Quora uses a discussion format, and many people are involved in the project. This is Quora’s best feature;
- All discussions will be in question and answer format. Quora users can answer many crypto-related questions.
- Ability to write long articles. Quora allows users to write long texts. Therefore, they can explore crypto projects in depth.
Like Reddit, Quora is a place where you can get information often backed by facts. As a result, they tend to have a greater impact on you and your investment decisions. Also, unlike Twitter, Quora allows you to post long articles. This will enable them to delve deeper into a topic and draw better conclusions.
So you can learn a lot about crypto while using Quora. Likewise, your understanding or opinion of cryptocurrencies may change while using Quora.
Telegram is another social networking platform that has had a major impact on the crypto world. The platform requires users to subscribe to channels to get information about them. Almost every project in the crypto world has a Telegram account to attract the community.
On Telegram sites, users ask questions and get answers from community members. As good as the discussion in it is, it will not have much impact on the crypto world. Only the people on the page can view the information.
Discord was created for gamers to communicate in-game and has been increasingly adopted by development teams, cryptocurrency marketing agencies, and ICO investors in recent years. The official Discord channel /r/Cryptocurrency is the most popular, but there are also some niche channels where developers can meet and discuss updates or ideas.
This article has explored the impact of social media on the crypto world. It essentially discusses social networking platforms, which hold tremendous sentimental value for crypto. Using such platforms can easily change your understanding and perception of cryptocurrencies.
Many may think this is Twitter. However, the platform with the highest sentimental value for crypto is Reddit. Reddit has an extensive discussion on the crypto space. Redditors use facts and experiences to explore crypto projects or coins.
Twitter is in second place due to its heavy usage in the crypto space. Most crypto projects have Twitter and Telegram pages where they can share information. You can follow crypto-related pages on social media to see what people say about crypto.