Topic: Social media has benefitted Cryptocurrency, here is how. - page 5. (Read 903 times)

That's because majority of people are into social media, The leading platforms on the internet are social medias because people want to interact and want to share their stories and informations, and this is the one that is being utilized to promote products and services.

But social medias are strict on Cryptocurrency platforms because they know that some of these are managed by bad actors and scammers. so the community has an obligation to educate new people in Cryptocurrency what and how to spot the right Cryptocurrency to use and support.

There will come a time where the community will have its own platform to promote their products and services because these social medias are being managed and regulated by centralized companies that were authorized by the regulators

Because altcoins are scam, most of them are scam and this fact can be proven easily. By using social media to spread their altcoin projects, advertise these projects to more people, project teams are speeding their scam efforts more massively and faster.

Charting the Number of Failed Crypto Coins, by Year (2013-2022)


Dead Coins: Over 50% of Cryptocurrencies Have Failed

Well, that's humans for you; you don't expect them to react the same way to everything; they will also look for who to blame for their carelessness; they are never ready to accept their own errors. 
 
There is no doubt that with social media, a lot of people have fallen victim to scams, but there has also been some helpful and useful information that has been obtained through social media. The thing is that we chose the part of social media that we want to shuffle and which part we are to ignore.

Social networks will tell you about the good part of crypto, just as about the bad. In addition, tracking your interests will be directed by targeted advertising. You will be provided with what you want to see and what you accept or not. Everything that is on social networks, people choose for themselves. Someone accepts Bitcoin, someone does not. Everything is like in life. Following the crowd is not quite the right method. Someone who wants to study Bitcoin will not be satisfied with five lines and hashtags; he will find information on the Internet, where you can study everything fully, but of course, this will not be social networks.

Well hey - if any of that were true then it could be said that social media was killing everything. But it isn't doing that. Do you know why? Because it's only used for sharing stuff. When people have a bad experience with cryptocurrency, that isn't on the social media platform itself, it's on what the site they went to from said platform did to them. And if it was a direct scam, then that's because of what the other user account did to them.

Airdrop, all-time highs, partnerships, almost only good news that are giving benefits to crypto whenever it's published in social media. But we all know that there has been a demolition job from the manipulators about spreading of FUD through it easily and quickly. Aside from that, it's not only that crypto-related scams and links are spreading there. Also, the bank-related concerns are that vast in there if you're going to visit one social media page about a banking service and a corporation. Anything that is on the trend, we see it first on social media and then the flock follows whatever it is.

Social media is a way to promote anything including cryptocurrency especially social media now becomes more popular. People like to share anything they know and want to spread it into their circle of social media. That is why people use social media to share many things including to spread about cryptocurrency. including to share about many projects. But people must be careful not to directly believe in what they see and read in social media and needs to find out more about that things. If people can aware and be careful using social media and always check for the other sources, they will not get trick or scam by the news. They can select what they want to follow or join in the project. Social media is just a place which people use to spread what they want so we can prevent the scam from the fake project.

Social media have made huge impact n every business connected to the internet and cryptocurrency is one of the major beneficiary. All cryptocurrency projects uses the social media for their marketing and publicity; as a matter of fact, the size of social media community is usually a measure of how big the cryptocurrency project is. Without Telegram, X, Reddit and others, many people wouldn't have known some cryptocurrency projects we have today. That scammers also use social media to steal from people does not mean that social media is bad for cryptocurrency. Scammers will always be there with or without social media, it is just for people to be careful.

Just as the name social media implies it involves all the countries in the world coming together in one place and anybody can market there product there, so I don't think there is anything social media is benefiting from those people who are advertising for a particular products, already we can see how most of  our celebrities go into television to showcase a crypto platform they have not even use before, so when you see such thing don't feel those social media are partnering with those crypto because they are only doing there job to make it public.

However I have noticed that almost all the airdrops amd mining that has been coming on daily basis normally originated from telegram but I don't really no if they are paying telegram for that or they are have some partnership with those project but however the only thing I can tell about that angle is that those projects has only help telegram to become highly acceptable because I could remember years ago most people do not no if there is anything called telegram but almost everybody now has become the users and now we even have telegram premium so if there is anything I no that telegram is benefiting from all the marketing of Airdrops I think is the popularity they have achieved but however I don't no if I have not started all but I wouldn't mind if I'm being corrected.

Nothing is perfect in life, what has its good may also have its bad, so social media's mixed reaction can't be an exception and it's not even at the top of my concerns. What people say bad of it is mostly true as they are obvious but the good side of it outweighs the bad in huge manifolds. The viral tendency of the content seen on it is enough to help cryptocurrency and many other projects to do the marketing and awareness needed. Social media now has the highest number of members in a single group in the whole world and could coordinate a rebellion or positive attitude towards any person, products and services. This is what TON is now using better than any other blockchain as the developer already has Telegram and using the user base of the platform to back it up.

 I've seen people argue about how social media has been used to spread fake news about Cryptocurrency and someone even said it's killing Crypto cause lots of people have been scammed of their Cryptocurrency through links they come across on the media well my thought to that statement is that the media didn't force them to click on those links and they fell victim to scammers on the media due to ignorance or greed. Well even though the first statement might be right cause paid actors use the media to deceive people into wrong choices of crypto investments, however everything got it's disadvantage and benefits too.

 Well, humans are prone to react negatively to certain things especially when they're the victims and some have even blamed the media for their carelessness, however it may be, the media has it's benefits to Cryptocurrency and has caused a recent mass adoption of Cryptocurrencies be it Bitcoin or Altcoins. For instance, Cryptocurrency is the new trend when it comes to finance and one the fastest ways to know about new trends is the social media.

 Another instance is the airdrop fever, the airdrop have been ongoing for years now but social media through telegram and Ton blockchain has caused a mass participation of airdrops lately compared to previous times and to crown it all, telegram which is one of the biggest social media platform have even got their own exchange and wallet where it's users can easily purchase Bitcoin and other cryptocurrencies.