It’s hard to think of a world without social media. To some extent, we all share our lives with our friends and family on these platforms, and many companies have found a way to use that to their advantage.
But now that there’s quite a lot of hype building around cryptocurrency, we’ve entered a whole new era. Gone are the days when only developers knew what Bitcoin is: crypto startups are now using social media platforms we are all familiar with to promote their projects, share their mission, and reach new audiences.
In fact, Facebook recently lifted its ban on crypto advertising, meaning that people can buy and run crypto ads on the platform. And now that one of the major tech players has entered the crypto arena, everyone wants a slice of the cake.
Let’s delve deeper into the concept of cryptocurrency and take a look at the top 4 social media platforms that are at the forefront of crypto marketing.
The Rise of Cryptocurrency
The concept of cryptocurrency might be a bit hard to grasp, especially because it’s not as tangible as traditional currencies. Simply put, cryptocurrency refers to a form of secured digital asset. Most cryptocurrencies are decentralized networks based on blockchain technology —that is, a distributed ledger shared among the nodes of a computer network.
One of the key features of cryptocurrencies is that they are decentralized, meaning that they are not issued by any central authority. This essentially means that the government cannot manipulate or tamper with these digital assets and that users have greater control.
Bitcoin was the first widely-adopted cryptocurrency, but nowadays there are plenty of other cryptos available out there. In fact, it’s getting increasingly easier to use cryptocurrency. That, combined with their decentralization and security features and their potential for profit, has led to a massive surge in crypto popularity.
Crypto Social Media: What Are the Main Platforms for Crypto Marketing?
Recent studies show that over 230 million people in the U.S. use social media, so it’s no wonder companies are leveraging these platforms to drive their marketing efforts.
Although people have been using social media to discuss and promote crypto projects for quite some time, things are reaching a whole new level, and crypto social media marketing seems to be here to stay.
Let’s take a look at the 4 key social media platforms that are at the forefront of this trend:
Discord is a group-chatting platform that hosts different kinds of communities filled with people who want to share content and connect. It’s a virtual space to hang out with friends, a gaming group, and even a worldwide community you’re interested in.
This platform has been increasingly adopted by developer teams and crypto enthusiasts to share their thoughts about the world of cryptocurrency, especially because of all its valuable features: low-latency, free voice chat servers, screen sharing, and 2FA to make it more secure.
The official /r/Cryptocurrency Discord channel is probably the most popular one, with over 90.000 members and around 15.000 active users at any given time. This represents a significant opportunity for crypto businesses looking to promote their projects, as they can reach a massive audience of like-minded people.
By now, there’s probably not one single person who doesn’t know what Twitter is. This social media platform has a massive appeal to all internet users, as it allows us to express our thoughts, stay up-to-date, and engage with others.
Twitter has many features that can add to an effective crypto marketing strategy. It can help build awareness with short and clear content —memes included— and boost engagement with hashtags, replies and likes.
KuCoin recently capitalized on the potential of Twitter to market the listing of DogeCoin on its platform by offering 100,000 DOGE to any users who got a reply from Elon Musk on Twitter. This helped the brand boost awareness and promote the use of the recently-listed digital coin.
Reddit is a massive network of forums —or “communities”— where people can dive into their interests and discuss different topics. As the sixth most popular website in the U.S., it presents significant opportunities in terms of crypto marketing.
Its appeal for crypto marketing stems from its unique features. First off, you have subreddits, that is, communities dedicated to a specific topic. There are crypto-specific subreddits where you’ll find both experts and newbies, which means you can target different audiences depending on your strategy.
AMAs —or “Ask Me Anything” sessions— are another famous Reddit feature that will allow you to engage with users directly by letting them ask questions about your crypto project, your team, and your mission. In fact, almost a decade ago, the Ethereum team held an AMA, which helped them spark a conversation around their project.
Telegram was launched in 2013 and it was the first messaging platform to introduce end-to-end encryption. That specific feature was well-received in the cryptocurrency space because it’s aligned with crypto’s decentralized and secure nature.
Telegram groups are the ideal space to build a solid crypto community and promote your project. ICO Speaks, for example, has over 70,000 members and it can serve as a powerful promotion tool. They offer unique promotions to give your project a competitive advantage and can even pin your content, providing you with enhanced visibility.
The potential for cryptocurrency marketing on social media platforms is limitless, especially now that many major players are opening up to this new paradigm.
An effective social media strategy on Discord, Twitter, Reddit and Telegram can help you build a sizable community of people interested in cryptocurrency, providing you with a space to share your vision with the world while building trust, authority and loyalty.
So, if you’re struggling to engage your audience and bring attention to your cryptocurrency project, start designing your social media strategy right now and tap into the benefits of these platforms!