Do you think social media has done enough in promoting cryptocurrency?

[Z-tight]

It would have been better but instead everyone wants to make as much money as they can at the expense of their community trust.

That is what it is, it is difficult to find people who will grow their channel and page to offer free services. These influencers grow their channel so that they can get paid to do promotions, there is nothing wrong in that anyway, what i don't like is when they advertise certain scam projects without even spending a minute to look closely at it. It is just about the money, not about the followers who 'trust' them, even though they shouldn't.

[joniboini]

what i don't like is when they advertise certain scam projects without even spending a minute to look closely at it. It is just about the money, not about the followers who 'trust' them, even though they shouldn't.

Do influencers like this still exist? As far as I know, most of them have a short life if they don't bother with fact-checking the projects they're promoting. Even if they got paid $10k or more from doing that, a simple reasoning would lead them to know that the risk outweighs the cost. The last influencer who kept retweeting left and right in my memory is McAfee. Most of them move to sharing long-term farming projects with dislcaimers everywhere nowadays (which is slightly better than making a Telegram channel and leaving it to die).

[bhadz]

But the known social media have a different approach regarding cryptocurrencies. Facebook has banned all crypto ads before because of the ICO scams but they have reverted that decision. And it's true that we're thankful that we've found the crypto forums that have been a good outlet to let other people know about cryptocurrencies and it continues to provide good news and learnings that everyone can access freely, anytime conveniently.

[Crwth]

Social media platforms don’t necessarily have an interest in cryptocurrencies, as seen by other social media companies, but they want to have their own. I think that’s their goal, and it is not what cryptocurrencies are for, in my opinion. I know they are not responsible, but that’s how it is. They wouldn’t do anything about it.

This means they would not have to exert any effort to promote anything.

[Millionaire]

I don't think so; forums like Bitcointalk and altcoinstalk are still the best place to promote and educate people about cryptocurrency; all that we're seeing on social media are promotions of dubious coins and ponzi-like coins.
Many of the coins being promoted on social media are airdrops, memes, and high-yield coins; it failed to educate people on how cryptocurrency works and how to properly invest in them.

Yes, you are absolutely right and if we are not careful we will be fooled by Fomo by people who promote unclear coins because there are also many cases of investment fraud in the name of crypto and many people are tempted by big results but with small capital, and forums are better than social media because with forums many people care about fraud cases and are given red tags.

[LogitechMouse]

Re: Do you think social media has done enough in promoting cryptocurrency?

Well, most of the people that has access to smartphone also have access to these different social media platforms as well. I don't think that there is anybody out there that has a smartphone but doesn't have at least 1 account on any social media platforms out there. All has that's for sure.

Now since all or we can say most of the people have access to social media, that increases the number of people that will be aware that a thing called cryptocurrency is existing. Cryptocurrency is being promoted in these platforms in either a positive way, or a negative way sometimes (scams and phishing sites). Overall, social media has helped massively towards spreading the word about cryptocurrency, and I expect it to be the same as we are in an era where it's all digital.

[albon]

Social media platforms are always the best medium for promoting crypto because there is a large presence of people here, so a project can be quickly brought to everyone. You may have seen that the hype of a project quickly goes to everyone through these social media platforms. Moreover, the post is reached quickly through giveaway events. Big crypto investors create various live events and provide trading signals. Millions of posts about crypto are created every day through Twitter media, so if you want to keep up with crypto it is important to be active with your social account.

[Flydove]

Social media has spread the word about crypto but doesn't educate the users on how it works, it only spread about how people can make money out of it and get rich quick.

The social media posts of some users doesn't even make users learn about blockchain and how it works. And some posts are only about trading and the markets,

Very true. My advice then is, if you have plans of going deeper into the world of cryptocurrency and how the blockchain operates and functions, then its ok to have the social media as a kickoff point but make effort to carry out personal research with books or possibly take a course because there is a limit to which the social media can teach you about crypto as it can also misguide you regarding about the same.

[bisdak40]

Social media platforms are always the best medium for promoting crypto because there is a large presence of people here, so a project can be quickly brought to everyone. You may have seen that the hype of a project quickly goes to everyone through these social media platforms. Moreover, the post is reached quickly through giveaway events. Big crypto investors create various live events and provide trading signals. Millions of posts about crypto are created every day through Twitter media, so if you want to keep up with crypto it is important to be active with your social account.

Yeah, true that. Social media is the main way to spread the word about any crypto project. So many people are online every day if something new drops, it can blow up fast. Giveaways and live events also help, especially when big names in crypto are involved. Platforms like Twitter are full of crypto posts non-stop, so if you wanna stay in the loop, being active on social media really helps.

[pieppiep]

Social media platforms are always the best medium for promoting crypto because there is a large presence of people here, so a project can be quickly brought to everyone. You may have seen that the hype of a project quickly goes to everyone through these social media platforms. Moreover, the post is reached quickly through giveaway events. Big crypto investors create various live events and provide trading signals. Millions of posts about crypto are created every day through Twitter media, so if you want to keep up with crypto it is important to be active with your social account.

In the current world, social media has turned out to be among the essential tools applied in the crypto world, particularly in the communication aspect. In this regard, due to the members being active in instruments like the social media, information relating to a new project or a technological advancement that may come up, can easily circulate. The benefit in this case is that the project record is community driven and the presence of the star agents which immediately disseminate the news. The independence of the social media reporting in the crypto world does not only make the processing of information faster but also lets having a direct access to realión time feeds from numerous sources.

[Cryptsafe]

It would have been better but instead everyone wants to make as much money as they can at the expense of their community trust.

That is what it is, it is difficult to find people who will grow their channel and page to offer free services. These influencers grow their channel so that they can get paid to do promotions, there is nothing wrong in that anyway, what i don't like is when they advertise certain scam projects without even spending a minute to look closely at it. It is just about the money, not about the followers who 'trust' them, even though they shouldn't.

One thing we should know is that one of the major aims of these social media influencers is to grow their social media accounts, and after that ,they begin to monetize the whole process, which is why you see them get more endorsement from big  brands to serve as their ambassadors and sometimes representatives because of their large followership which they can be able to influence to patronise a particular brand. 

[MUGNIA]

From my observation about the influence of social media on crypto, it is only as a promotional tool and update on the development of the projects they publish, for influencers there is also nothing specific that provides introductory education about what crypto is for beginners, most of them only follow fomo, providing information on projects that are currently fomo, so it is true that 95% of social media platforms are only for promoting their projects and it is efficient regardless of whether the project is successful or not, but their promotion is optimal