Topic: Social media has benefitted Cryptocurrency, here is how. (Read 905 times)

freebitco.in is a big platform, and it was blessing to me because even when i don't knew about bitcointalk forum but i was involved in freebitco.in platform and played hi-lo jackpots and a several times i won the weekly lottery, it was really nostalgia for many bitcoin fans, surprisingly this site is still alive after so many years.

I think it will teach you a lot and mostly lead you in the right direction.  And if you find it interesting, you can learn a lot from it and work on it.  In this we should learn by giving hard work and time rather than seeing what was told and doing nothing. Find out what we have information about and see for yourself.  Anyone who doesn't accept Bitcoin either doesn't understand it or isn't interested in it.  But I say that there is nothing better than that.  And I tell most people about it and it's very easy to understand.  It is important to study what is being provided to you and see if it is what we are being told.  First of all we use social networks to study everything. if you give bitcoin information to someone, the first thing he will see in the social network is whether he told me or not.

The arguments you write make sense and are happening right now. Because it is true, the impact of social media is very big for the progress of cryptocurrency. Because with advertisements placed on social media platforms or promotions related to cryptocurrency, it is easier to reach many people. So it is not surprising why social media has had such a positive impact on the progress of cryptocurrency. In fact, as you said, there is currently a trend of airdrops being held on Telegram. This is one of the uses of social media for the development of cryptocurrency. Because through the Airdrop held on Telegram, many people will know about cryptocurrency. Because if I'm not mistaken, the airdrop held on Telegram seems to have the option to invite friends to get additional coins. So of course, everyone who is doing the airdrop will be competing to invite more friends to join Telegram to take part in the airdrop. For this reason, the growth of people who know about cryptocurrencies will be increasingly rapid at this time. So that's the impact of social media on the growth of cryptocurrencies today.

Yes, social media is just a tool, but what makes it alive are the people behind it. All too often we forget that all interactions, trends and influences come from the users themselves. After all, if we pay special attention to people, how they behave, how they interact and what they want, then we can see much larger opportunities (including making money). Understanding people and their behaviour is the key to success not to get lost in the platform's hype but also be more effective in adapting and creating profitable strategies because... in the end: it's people who drive everything; not just technology

And understanding the people behind social media is crucial, we need to understand the people behind social media because the technology and platforms will change but basic human behavior does not. At its core, if we can capture what individuals truly desire and how they react, as well as what motivates them, we will always have an opportunity to adapt no matter the changes in technology.

We should also remember that social media is something that is all us, meaning that we did this to crypto, we could have done it on social media, we could have done it on chat channels on icq, it doesn't matter what we have, as long as people had communication somehow, we would have done it. Just because it's the name of something we use, doesn't mean that it wasn't us that did it, it was all us that did this and that's a very important part. I believe that we are going to make a good income from this if we insist that it's the humans that needs to be praised for it.

Because if we know that it's the people, then we will focus on the people and not the hype, ignore what people say and try to focus on what they do, that way you could make a lot more money. If we keep insisting on what we are dealing with, we are not going to make that much money and we are going to end up with a loss, we should keep on dealing with people and their actions to profit.

Social media done nothing but shitting the people with misleading information all the time, that's why people try to invest something that they don't have any idea, I agree it opened the door for the people but it benefited few con artist than the actual investors on the other hand forum benefited the people by giving the right guidance which is simple trust Bitcoin and everything else is just revolving around with the influence of it.

Airdrops were dead for years, don't your waste your time for lurking free money whether by tapping on screen or whatever stupid things they want to do.

Social media is just a tool and as a tool it is our individual responsibility to tread wisely when making use of it because at any point you fail to apply caution when making use of it  someone somewhere may take advantage of your vulnerability. Every social media platform is like a world of its own with people from diverse walks of life making use of it and so therefore it should be expected that people with negative motives would be found in there too which brings the need for cautiousness.

The benefits of the social media to cryptocurrency and it's users actually can't be overemphasized and anyone who's saying otherwise is obviously trying to be economical with the truth. Many crypto projects today are seeing the light of day because of the hypes it received through the social media platforms.

Moreso, a lot of the benefits we have earned from cryptocurrencies is through the social media platforms through which informations about both old and new projects are caught on time as it breaks , even though some informations could be said to be fake, that's then where our responsibility to always research and verify informations before consuming/applying it now steps in.

Crypto of course benefited from social media but who didn't? Everyone benefits from crypto so it is not really a big deal and I think it should be something normal, we shouldn't really have any trouble and we can make sure that it is going to be a fine situation without much issues. I am not saying that we can't make it work without social media, but every single business out there benefits from social media presence and the viral that it gets.

There are so many companies that may have bankrupted by now but became incredibly rich just because of some viral post someone liked once, and because of that I think crypto is not that different.

Social media has a huge power, and it's global so having this type of power is definitely something we should see as a good thing. I believe that we are going to see this growing a lot bigger, and I think the best way to improve would be just thinking that everything will be fine. If we can do that then we are going to be fine.

Any person who would criticize the influence/impact of social media in today's age doesn't know how to mark level from his left and right, social media is an important factor, it's proven because most informations, newly developed ideas (including Cryptocurrencies), Bitcoin and more are all talked about which has contributed fairly to the level of involvement.

I think lack of social media during the early time when Bitcoin was found contributed to the low adoption rate, clearly many never knew about Bitcoin and those who heard slightly about wasn't getting the clearer picture of what it was and this was what social media could have fixed by simple interactions within the internet space. Social media would have brought about more reasons as to why Bitcoin should be seen and accepted.

Before promotion, it was the social media first. And I think it was during the pandemic times, is the responsible for the growth of them because people are mostly staying indoors and social media is mostly the ones that they are using to communicate, do business, and entertained theirselves.

The internet and social media isn't a new thing anymore, so I won't use them as an indication to tell that the times had progressed. But anyways, even without them, the time can still progress on its own. We can rather say that technology have already gone a long way. The internet is one of it of course and had a major contribution in the tech world. I won't be biased and say that each of them can only offer a pure convenience but they still have their own disadvantages.

As for the internet, obviously we can't use it if the cell sites or towers have been damaged or there was a problem with it. Another thing is if there is a brownout. AFAIK Telegram doesn't have a dedicated exchange and wallet, though these could be possible within their app and with the help of some API's. Telegram is decentralized and this makes the illegal activities happen, so this is not their fault.

Is there anyone that really says that social media didn't benefit Bitcoin? Social media has its pros and cons but to my mind, its pros outweigh the cons. Via social media, communication is easy, news sharing is easy, and millions of people are connected with each other easily around the world.

Besides Airdrops, I think that Freebitco.in was the website that greatly benefited the Bitcoin community. There are many people who entered the Bitcoin world thanks to Freebitco, there are many people who earned their first satoshis from this website.

The flow of promotions has grown so much and now the trend of social media is so much on the rise in promoting anything.
This shows that the development of the times has progressed so much in many ways that there are many conveniences in it.
Telegram has sponsored their own exchange and wallet even though the owner of telegram has been involved in a case and the CEO was arrested on suspicion of allowing various illegal activities.

There are many social media that provide convenience for people to develop their own business independently because they can do promotions in it.
There are positive and negative sides to it, depending on how people use it and if misused it will have a bad impact.

As we put it this way, social media has big role in the distribution of information among the public. These days, everyone has at least one social media channel under their name. Hence, we can say, with the rise of crypto market, people will talk and socmed platforms have been part of it.

These platforms also are the source of news and updates to basically anything. Remember, very rare nowadays are buying hard copies of newspapers.

Perhaps you spoke my mind, well definitely people always have something to say about everything, the fact that we have freedom of speech on social media has made lots of people feel they can have any opinions over whatever they choose and definitely they are all right. Bitcoin and the cryptocurrency industry generally has benefited directly and indirectly from the social media but lots of people only focuses on the obstacles and disadvantages of social media so whatever including bitcoin that gets discussed in those social medias they will always have the disadvantages pump up just to conceal the better colours of it and crypto generally has been a victim of that.

Everything that has an advantage also have a disadvantage, there will always be bad eggs, those that wants to use the purpose of any given good technology for the opposite reason and which social media isn't an exception for this set of people to use. We can't still forget the numerous good thing that the social media has helped our lives, a lot today are earning living from social, business have boomed because of the power of social, we can't be focusing our energy only on the scamming aspect of social media along, and forgetting the good side.

I have worn, as a teen, the shoes of people who think the internet is a place to make easy money, and the steps mostly taken was all about naively following any post that promises how to double our money. But, we always ended up with no rewards. After everything, the rush to participate on such tasks also leaves people skipping to research on what they're about to go into, or embark on, all that matters to them is the cash.

So, to these type of internet users, they'll never think otherwise or take precautions, the funds which ends up being fake promises, confuses their thinking.

Let me say from my own understanding that social media have advantages and they also disadvantages in cryptocurrency so if you want to have a good source of information towards the benefit of cryptocurrency make a proper research about yourself so don't make a research that you will rely on people who you know that they are criticizing cryptocurrency so for me for cryptocurrency especially Bitcoin to get to this extent is because of help social Media, call initially when cryptocurrency was introduced especially Bitcoin there was nobody who like to adopt cryptocurrency because of the fake information tendered by people but right now social media has made many people to have a passion in cryptocurrency

You make a valid point here about the dual nature of social media, which can be both a powerful tool for spreading information and a breeding ground for scams. It's essential to approach online interactions with a critical eye and use social media responsibly to maximize its benefits while minimizing its risks.

may be you have good earning source in online or offline, so you don't need to earn by participating in airdrops, but who have no enough skill like you, they always try to earn money in any way like airdrops, bounties or other ways, now time is for telegram airdrops so everyone try to make some money without any cost, airdrop coins might be shitcoins but they are paying and you can sell it.

Most people go to the internet to fetch information, so they say, entertainment is much more accurate I believe.
How people use the internet, which includes als social media.

Who goes into a social network looking for a new tire? 

True social media is a platform and being a platform it is a tool use for advertisement and spreading information and propaganda.  In my opinion it is right to say that social media is used for scams and other fraudulent activities but the platform itself is neutral since it can also be used to spread good things and correct information.  I think being scammed is not the social media platform's fault, it is the people who don't do their diligent research whenever they got interested on any  crypto investment venture.


As I stated, and I agree with you that it was the carelessness of people who are trapped and become victims of scams introduced in social media.  The same way social media is being used to scam people, it is also the platform that reminds people of scams and fraud that may take place on the platform.  In terms of information destination, social media platform is indeed of great help to the cryptocurrency industry because social media platforms have millions of users.

The social media has helped a lot of people by achieving what they didn’t expect, those that are classified a social media has place of generate fake news are those  that don’t have any idea or knowledge about the social media, if not they will not say that social is a place of spread a fakes news; because their are some that once they are into social media’s they will be click unnecessarily links that’s is why some peoples easily fall in victims of scammers.

Furthermore, with the social media everything has be become very fast and easy to deliver any messages at that times they want; especially those that are into online vendor them they really benefit a lot from social media’s.

6 of the top 10 websites on the internet currently are social media platforms so its easy to say that anything that trending expect it to be on these platforms, and so many times that Cryptocurrency is trending in the internet.

Pormoters and pioneers of cryptocurrency have utilized the power of social media to get the knowldge of Cryptocurrency among the people, so yes Cryptocurrency benefitted from social medias but in return, the whole world benefited from the power brought by the technology of blockchain.

Social medias have caused more damage than benefits to the legit portion of crypto industry and its enthusiasts. But without any doubts, it has also contributed positively in some aspects, especially for newbies who started their journeys from zero without any investments. Social media campaigns and airdrops played a big role and still do for some people, in order to allow them growing their wallets into substantial amounts of crypto, without having to necessarily invest from their own pockets.

And since it's a self-regulated industry, we can't really complain about the scams being promoted at social medias, as it's part of a decentralized environment where the responsability and awareness of each participant are essential for their survival here along the time.

You made a valid point here. Because why would someone invest in a project they have not done proper research on, they allow quick money scheme to happen to them. Social media is a useful tool for cryptocurrency, it is used to pass vital information as well as host some of these airdrops on telegram that paid off like Dogs of recent.

Social media is not to be blamed if a project goes wrong or someone gets scammed because we need social media to communicate and we also need it to research facts for ourselves. And of course scammers will keep pulling up scam projects so its best to do be sure before you engage and invest in them to avoid sad stories afterwards.

But at the same time, social media is another way that made many people millionaires through cryptocurrency today. Why they did not also consider that one is to think they are just arguing because they don’t have knowledge about the cryptocurrency.

The thing is that many people are scammed due to greed; I won’t say ignorance, because when it comes to money, as long as you are going to put your hard-earned money into such things, research should be the first thing you will do. But Many people are not doing that, Once they get convinced that they will earn a huge amount of money, they will do it, and that is how many people get scammed; it is due to greed.

I'd say that social media has really turned a lot of lives from nothing to something. And definitely we don't tolerate those that have the fire to spread FUD through them and they're paid for that. But let's remove that thing and aside from airdrops, too many opportunities have been made with it. It's also become a social marketplace. A market place for everything.

Everyone now can sell goods there aside from spreading crypto knowledge, trading, holding, altcoins, etc. So, it's the dream of Elon to have his X to be an all-in-one platform. There's the communication side, the contents from texts to videos and even reels which are the short video categories. Live selling is also there, so there's so much stuff that's being done by social media and it has benefited the entirety of humanity and we can definitely say that it has contributed a lot to the growth of crypto. Most news are there being published and if we don't like FUD, we always need to verify news that comes out from there.

Everyone must believe something new on a clear basis and also on a fairly real basis in order to have a better level of confidence in it or in the example you gave where it did go viral on various social media in the last few days of this year even though at this time it is still a little prominent. And I think you have also given quite appropriate advice besides an example that is easy to understand because on social media every thing that is truly pure must have proof and also clearer details before we believe it as a good thing.

Hamster Kombat the telegram game: https://www.econotimes.com/Hamster-Kombat-Surpasses-150-Million-Users-Claims-Third-Fastest-Growth-Record-1680552

Most numbers in social media, cannot be trusted.
if you believe you don't know, never forget that.
Beliefs are below an educated guess even,

I don't participate in airdrops and I don't care about shitcoins. Everyone wants to get something valuable for free, but life doesn't work that way. Getting worthless shitcoins via airdrops seems pathetic to me. I would rather do some actual work and get real money in return.
Social media has influenced almost everything in the human civilization during the last 15 years. The influence was both positive and negative.
The crypto world wasn't living in an isolated island, so it's normal to be influenced by the social media during the last several years.

never forget that there are so many hamster kombat farmer where they run thousands of telegram instance to just participate in the program, the people with the resource will definitely take advantage to create multiple accounts in telegram to participate in airdrop and steal the allocation so it isn't really accurate metrics, heck even average joe are farming hamster kombat using multiple phones, in my opinion the real amount of hamster kombat active users probably only at the marks of 30 million. still a big number IMO, but telegram has been known for having big userbase even without ton blockchain so there's one thing to consider.

moreover user who participate to these projects solely for airdrops aren't here for long, they'd ditch it whenever there's no opportunity anymore.

From the advancement of technology today, especially on social media, many people will know more about the latest information, about everything including crypto and its developments, everything becomes easier, that's why people understand it very quickly, unlike a few years ago they didn't understand crypto because progress wasn't as good as it is now.

You have made out up to date statistics of social media users, but It's not clear to me where you're heading to with your point of view. However, I know that social media platforms consists of multitudes of people, and not a huge part of them partake in airdrops. Yet giveaways are not the only strategy that nearly all scam victims get extorted of their money.

People easily accept that pages with large fellowship are genuine, so the bad players use this weak point to sweep people's money through social media. It's simple to pull such tricks with fake impressions, backed up with ads, and people will get rolling asking for how to multiply their money 10 folds. In a nutshell, if it's too good to be true, quit it.

I wouldn't delve into this debate because it's a long topic and there are a lot of things to talk about when we get into social media + cryptocurrencies. However, one thing is clear, social media is one of the best ways to spread news in this era, and cryptocurrency projects are using this to their benefit to a large extent.

I can't help but agree with this. The recent trend about Telegram mini-bots have changed the dynamics of this industry completely. A lot of projects are turning their faces to Telegram and TON blockchain because they know that there is a lot of potential in there, projects are getting a lot of attention and engagement from people from all around the globe, and on top of it all, it's not that costly which means that if you start a project announcing an airdrop, you will start getting users very quickly with a few collaborations.

I'm not a dreamer... But you can check this data. https://www.demandsage.com/telegram-statistics/

Hamster Kombat users are more than 200 million active users, especially now that many tap-tap games on Telegram are successful like Dogs yesterday and this has awakened the hype of other airdrops on Telegram.

You know it's possible that active users will increase every month.

I really hope that many people are more responsible when using social media, because what we put on social media always has a digital footprint even though we have deleted it.

Ok back to the topic, Crypto currency since I saw the change in popularity in 2019 until now is indeed increasing, people today provide teaching about what crypto, blockchain, bitcoin, web3 and so on because bitcoin and crypto users are increasing so that it can be used as an option to increase insight on social media for those who understand.

And speaking of fraud, we just need to educate the newbies who are just entering, and I also see that the influencers who are really good and uphold this industry always give advice to their audience or readers, like what you and me do on the forum.

Indeed, airdrop blew up recently due to social media adoption, a lot of people including myself got into raindrop this year. And I can only imagine how much certain people who have known the game of airdrop before social media blew it up have made from it.

telegram has 950 million users as the track record of july 2024, it's rapidly growing because in telegram airdrops is trending, millions of peoples joining with new account, but 950 users are not active users, hamster kombat is big one in airdrop but i seen in their communities total 50-60 millions subscribers and there mostly multi accounts.

Just adhere to a few rules. Just free to use social media accounts no reputable company will go for that.
Websites under 2 years? Have a look if their company is registered and how much capital they put.

Unfortunately that's true, there are a lot of people who buy reputable accounts here too, and spam shitty tokens just to make money. Telegram is the worst of them all, there are telegram channels that act as if places that suggests good income tokens to invest into, and they end up making terrible judgment calls in return of some money they take from the projects.

Scammers are always been in the social media world even from the first day, it allows you to connect to the whole world, and crypto made it easy for payments to happen too, before crypto it was mostly paypal, and gift cards as well, nowadays those still exist but crypto is becoming much bigger and I think that is why it looks like it's a bigger deal than what it is.

Social media seems as a two-edged sword because cryptocurrency scams are spread on it in a way. This is not just happening on Telegram and X, many smart phishing attacks and fake projects are also cropping up. Crypto scams going on in the past year have accounted for more than 1 billion dollars in losses, with 50% of the victims being social media users. The real thing going on here has more to do with the awareness of the issue and the education of the people rather than the platforms per se.

Remember that social media is a big booster for the adoption of cryptocurrencies. Social media channels do a big portion of them-yes, in the case of airdrops and interactions between users in various decentralized finance (DeFi) projects. Take Telegram for example, which implemented features like crypto wallets and exchanges that help users safely transact among them in as simple a way as possible. But the whole truth is that scams, of course, are a concern, yet really, social media has been more of a help in the crypto sector. To a large extent, it's rather about the person being smart about it.

According to their own data on the telegram site they have recorded over 700 million active users with the number heavily increasing over the last three months and this can only points to one thing which is that most of the new members are there because of the raise of the tap tap airdrops on the platform. We cannot say that the whole 700 million are actually engaging into crypto but at least the number is more than 10%. There is this particular airdrop called the Hamster Kombat on telegram that actually recorded over 280 million users monthly on the airdrop, this means that even their own number of users already is above 20%.

But mind you this number to me isn’t relatively relating the actual real users there as one person can have multiple accounts mostly for farming of the airdrops and it is actually what I think is the reason for the increase in the number of downloads and register users.

You are a dreamer. 900 million users is not 900 million active users.
I'd say it's like 200 million active users. And of those a 10% might be crypto interested. Seeing the "mass" adaption of wallets more like 5% but ok.

Most of my mates who like crypto only one hunts airdrops.
he does not use telegram. 

Until now, social media is still widely used by scammers to spread phishing sites on social media, and those who are deceived are careless people who are not careful in clicking on the link...

Yeah social media is still a very good distributor of crypto news, we know any news about crypto not from television but from social media especially articles and social X is getting more and more mass adoption and now the growth is accelerating because many people are interested in crypto.

I can say that the hype in Telegram recently after the success of Notcoin and they have TON of coins as an ecosystem, now airdrop is growing rapidly in Telegram, imagine Telegram has 900 million users let's say 50% join the airdrop then this is definitely like a fast mass growth.

That's right, social media is actually a quick tool that makes information travel so fast. Taking for example, I believe we are aware of the recent case of Mark Zuckerberg in the court, repeating the judge statement,  "37% teenage girls of the age range 13-15 year old were exposed to some unwanted nude pictures on Instagram." I just opened my TikTok app yesterday and after scrolling for just a minute, the content popped up. The way the social media has the capital to spread good information faster, that's also how fast it can spread scam. No doubt.

Humans tend to trust people who are in their contact for a long time, and online, they trust people they can chat with and who follow and like their posts, so its easier to refer or recruit people in social media because of the relationships they have cultivated over the years than articles or videos, I have joined and recruited people through social media., so I consider social media as a powerful tool to disseminate information about cryptocurrency.

I was referred and also referred people using social medias like Facebook and Telegram It's much easier because of the the trust and respect that we build up and I will continue to use social medias as a tool to refer people to Cryptocurrency and maybe get me involved in some good Cryptocurrency project

To be honest I could agree with you the fake news about crypto is crazy frenn even scammer is spotted on social media like Twitter and Instagram and they buy verified accounts just to lure a user to click their phishing link and these another level of hack in my opinion.

But I also spotted a new youtube account or Instagram reels, tiktok that ask their user to play airdrop like the famous notcoin and dogs

We are in a digital age of course there will be disadvantages and advantages of a digital product to users. In one way or another most of the digital products rely on one another to excel. If there no good projects, or crypto influencers in the crypto world will there be active users in online in those social media that are following such projects? In turn, the projects rely on social media to reach out to their audience consisting of investors, advertisers etc. Social media and cryptocurrency have to work hand in hand if they want to succeed. Without social media big companies cant be able to reach out to their followers and they also cant be able to market their products. Social media has done more good than harm. In as much as it is concern it is the users that has used the social media to spread false informations, scamming people and misleading others too.

Just so you know as social media is a tool to enhance communication but when it falls into the wrong hand it might be tool for causing havoc. We humans are to be blamed for the misuse of social media and not the product itself.

I can't understand people who'll blame cryptocurrencies for being scammed. The internet is filled with scammers on all kinds of platforms, from Facebook and Instagram to Telegram and Discord, but it's certainly not limited to cryptocurrencies; it's just another method or means of payment they're using to take advantage of people. People need to distinguish the difference; scammers are the issue, not cryptocurrencies; if it weren't for them, they'd be simply using fiat money. It's not that scammers suddenly started appearing due to them.

There's no perfect balance between the benefits and the drawbacks of social media's impact on cryptocurrencies. One thing is certain: that one way or another, they're being promoted, either from companies and platforms, but also from enthusiasts as well.

Social media can benefit cryptocurrencies by enhancing awareness & engagement. It serves as a platform for real time info sharing which allows users to discuss trends, news & market movements. This instant communication helps community building & investor trust. Social media can drive viral marketing campaigns attracting new users & investors. Influencers can shape perceptions & boost adoption while user generated content can provide valuable insights & education. Social media definitely amplifies the reach & visibility of cryptocurrencies facilitating their growth & integration into mainstream finance.

It's true that social media can be a double-edged sword. On the one hand, it's a powerful tool for disseminating information and driving mass adoption. Platforms like Telegram have definitely played a role in the growth of cryptocurrencies. and facilitating transactions such as airdrops, leading to the growth and availability of digital assets.

But it is impossible to look the other way and pretend that the other, more interesting side of social media does not exist, teeming with misinformation and fraud. Admittedly, it must be said that through social media, the upside and risks of cryptocurrencies have been amplified, but at the end of the day, personal responsibility plays a leading role, and it is up to people to take care of themselves and find information to visit safely. Data and information are there to give guidance and tools. But it is not able to save users from all kinds of risks.

To sum it up briefly, though social media is full of imperfections, there is a lot of benefit in terms of information and participation regarding the crypto world. It means it is related to employees who need to be aware and receive opportunities with open eyes.


You indicate therein the important role that social media plays both in the popularity and promotion of the cryptocurrencies. As a matter of fact, social media has been employed in times to create buzz and interest in everything from Bitcoin to meme coins like SHIBA and PEPE since these coins have become more attractive and omnipresent. This often drives public interest and investment into overdrive. This gets potential beneficiaries keyed up. The whole process is influenced by the internet, in turn.

However, this form of viruses can be negative too. Since it may result in speculative bubbles or fraud on some occasions, the network keeps information moving at rapid paces-both true and misleading. Thus, it affects market performance and investor behavior greatly.

While social media, without any doubt, can increase the popularity of cryptocurrencies and their availability, it always has to be made sure that investors are well-informed and consider all necessary information carefully. Motivating one another with good research is the keyword behind having a successful crypto business.

Nowadays, social media plays an important role in the modern economy. Social media can be used to expose and promote a product. There are many stories of people becoming successful because of social media. It's the same as cryptocurrency. I think one of the things that makes cryptocurrency popular is social media. When the price of Bitcoin went up, it went viral on social media and people started trying to find out about Bitcoin. Just like when meme coins like SHIBA boomed in 2021 or PEPE went viral in 2024. Then after knowing the success of the two meme coins which could provide huge profits in a short period of time, many people were interested and tried to invest in meme projects or other cryptocurrency projects.

It's just the wrong understanding that people have lol. Even if it wasn't crypto, they would've been 100% scammed the same nonetheless. Crypto was simply used as a medium. I reckon if, say, some sort of "sale" was ongoing and they were offered a link to access, they'd still get scammed out of their money all the same.

Anw, onto social media, I highly doubt there's anything at all that has NOT benefitted from social media. This is regardless of how much negatives it has (or can spread/give). So if you were to compare everything, pretty sure in almost all cases, crypto included, social media has been more than a positive than a negative at all.

I think social media has been both a good and bad thing or cryptocurrency.  In one aspect it's create awareness that would likely have never been possible in such a short span of time, and there's something to be said for that.  It's at minimum introduced people to just hearing words like "bitcoin" which naturally leads to people being curious and to want to research. 

Then on the other hand sure, it's led to A LOT of scams, and the social media outlets have done a poor job of policing scam advertisements having to do with crypto.

Overall I think it's been a net positive.

Well most statistics forget the fact that there is no exclusive usage of social media. Even a Billion tiktok user use the internet to check webpages.
One can presume that every social media users also uses the www.

People don't go into social media to buy or take part of airdrops.

  

• As of 2024, there are approximately 5.16 billion active social media users worldwide, which is around 59.3% of the global population.
• Facebook remains the largest social media platform, with over 3.15 billion monthly active users.
• YouTube is the second-largest social media platform, with over 2.5 billion active users.
• Instagram has over 2 billion active users, making it the fourth largest social media platform.
• TikTok has surpassed 1 billion active users, becoming one of the fastest-growing social media platforms.

source: https://prioridata.com/data/social-media-usage/

Your clearly right and it's true that social media has done alot good to the crypto space possibly in so many ways and with that it has made alot of people have more trust in cryptocurrency.
It has made it easier for people to know the full content of what cryptocurrency is and how to go about it, you can imagine the widespread of information and knowledge about crypto through the help of social media platforms and alot of person's are already persuaded or seeing reasons of holding such currency's.

I enjoyed the fact that social media is one vast platforms that can spread information to a wide range of people, and just like Facebook that carries a weighty information, alot of people now get trust for crypto and want to explore around it's horizons, thus this is why like the ongoing airdrops everyone tend to participate cause they've seen the need for crypto.

Therefore, when we cannot control the content that comes, at least we must be able to coat or fortify ourselves so that in the end we are not carried away.

Most of what has happened to social media to date is that we are too carried away by the views of others because we are too swallowing what they show which makes not a few people affected by the wrong news.
This always happens a lot and indeed things like negative news about crypto, especially bitcoin, are also difficult to control because those who don't like bitcoin will always do several ways to make this look bad.

We just have to look at the news (even if it is negative news) it must be seen from several sides because in the end when we only look at the negative side it is likely to be difficult to survive here but on the other hand being too optimistic can also ultimately destroy yourself so it is important for us to continue to be able to choose and sort out what content we see on social media so that we remain subjective in assessing whether bitcoin is what those who say negative news say or just as a method to destroy beliefs about bitcon only.

This means that not always what is beneficial is not detrimental, social media makes information quickly conveyed to the corners of the world as well as the good and bad that comes with it, there are always pluses and minuses in an innovation that changes this world.

Social media will be very beneficial for people who are good at using it and he can filter all the fraud that occurs, and even become a place for people to make a living, on the other hand there are even people who fall into poverty because they are carried away by news on social media that makes them lose money, Social media brings crypto far more widely known by ordinary people in parts of the world I like it, it's just that fraud is also not small.

Social media amongst other digital media platforms are advanced communication tools that have been created to purposely aide individuals from interacting with one another in order to solve their day to day activities and problems. It is a medium that has come to ease as well as bridge the communication gap between people and help them network through the internet.

If this is  the role social media plays in the crypto world then one will be making a uninformed mistake to just go ahead and criticize the social media platforms. Rather what they would have done is to firstly critize the individuals out there with ulterior motives trying to truncate the peaceful transmission of information and communication within the cryptocurrencies space.

Most of these scammers are thieves in real life who are not able to steal physically. It is those individuals that are wrongly using the platform that create such image. So, it is good for the victims to understand this part and instead of doing the blame game, should learn harder on how to identify such crooks and shield themselves against their gimmicks and tricks.


The truth is, while it will be completely untrue to say, cryptocurrencies cannot exist without the social media platforms, it is still very important to mention the impact of the social media as a platform to the cryptocurrency. Without social media platforms, cryptocurrency would not have seen the massive growth it's recorded thus far. Today, we have seen how crypto airdrops have indirectly become like a campaign style to create awareness of people over the digital currency is unprecedented. Without social media platforms, this success won't be recorded within this short period of time .

Social media is just an instrument that is used in propagating for information regarding any digital project or coin like bitcoin, but in other way, we can say that we also have the two way benefits in which they both help or assist each other, because through the social media, we get in touch about every information needed about any cryptocurrency, while the crypto networks also help the social media with the required traffic in other for them to achieve their goal.

The internet consists of webpages, which social media websites are a part of it—websites like dating apps, forums, and blogs, all contributes to crypto promotion and scam. Famous social media platforms where millions of people go to view breaking news, and entertaining contents, are only called out as the scape goat because they have a high number of crypto scam ploys on it. Furthermore, there are the traffic funnel to most crypto scam webpages.

No system is devoid of manipulation, scamming and other social vices but it depends on the approach of individuals towards the information they found on those platforms that will determine if the platform has caused them more harm than good and inasmuch as news about cryptocurrency is concerned, people shouldn't only rely on information they found on social media considering the rate of frauds, scams and other media crimes so it is at the detriment of anyone who saw a link about cryptocurrency on social media and decides to click on those links.


This is the major area I felt social media has benefited from cryptocurrency especially telegram because imagine the millions of people partaking in those crypto games and subscribing to their YouTube channels and following them on major social media platforms so the money they are generating for the developers of those crypto games cannot be measured with the little allocations they get from Airdrops.

The people who believe that social media is a driving force for business are greatly mistaken.

Just 30% of the world's internet traffic is social media, of that 30% Facebook takes most.
The Internet, and social media with it, by definition is neither a place where people go to shop, far from it.



Bitcoin grew due to active action, faucets made roll the ball.

Social media, just like cryptocurrency is just a tool for us humans to use.
Just like cryptocurrency, social media can either be beneficial or dangerous to us humans.

We've seen lots of scams already that are happening on various social media platforms, and I don't want to say it, but there are many investors out there who are easily attracted to different types of scams like the huge returns that they're seeing, phishing links especially when it comes to airdrop etc. While I've seen the benefits of social media towards the adoption of cryptocurrency, I've also seen the dangerous side of it and how scammers are utilizing the platform, and the greediness and ignorance of these investors. It's unfortunate to see investors getting scammed, but that's how investing is.

1 word. Knowledge. Knowledge is everything not only on cryptocurrency, but in investing in general. I hope that all of us investors will learn that having knowledge would drive us away from getting scammed by these stupid scammers.

That's right,  many people have been able learn about crypto via the social media and so many people have also been scammed via the social media. I remember some years back, the Twitter account of prominent user was hacked and the hacker managed to steal lots of money from the followers of the victim's account and how he was able to steal from the  follower is because he introduced a crypto investment scheme to them.

Everything in life has both advantages and disadvantages. It will now depend on users to maximize the benefits and seek ways to protect themselves from the negative consequences. Internet banking made a financial transaction easy but it also led to an increase in online scams and hacks. Social media have been helpful to the crypto space but they also have limitations.   Social media is a potent tool for the spreading of crypto information. Since the most active actors in the crypto space are young people, social media will be the best avenue to connect with them. It is also a good place to get some helpful tutorials.  
 Telegram has been the rave for some time now. Many of them turned out to be worthless, however many people have benefitted from these telegram airdrops. So we can say the integration of social media with crypto has increased the income people get from the crypto industry.

Anything can be reported via social media and there will be parties who benefit or are harmed and no one can control this, but we must be wise in responding to every news report so that there is no misunderstanding in understanding a news report.

You are right, every development that occurs will certainly have a good or bad impact, therefore before choosing the news that we will use as a lesson from social media, we must first have basic knowledge about it so that we can know whether the news we read on social media is true or not because without having basic knowledge about something that we take on social media, we could choose the wrong news, of course this will harm ourselves and learning specifically about crypto would certainly be better before reading news on social media which could make us wrong in choosing the source of the news that we will use as a lesson.

There are bad people everywhere. There are even more on social media. We can't ignore the good things being done there just because there are bad people somewhere. Social media is an important tool for the development of cryptocurrency and its spread to more people. Many projects have been introduced and continue to be introduced on social media. Projects reach a large number of people through social media.

One of the biggest roles of social media today is that it makes it easier and faster to reach people. Sometimes the way to access information is through social media. Sometimes the way to present information is through social media.

No one can control that because in the end social media has a wide scope so it is possible that something like you said is true where social media can be used as a tool to create slanted news against crypto because this will not be controlled by us.

But even so, I think we must understand that every technology must have positive and negative impacts. Likewise with the impact of social media for crypto because not all will provide false information. So the point in this case is that we cannot swallow the information we get from anything even if it is from social media or other media because for learning about crypto, especially bitcoin, everything can be done anytime and anywhere but we must try to filter well whether the information and new knowledge we get is relevant or not to the truth that is happening and that can only be found from research on the learning we do.

There's no body that is going to blame the social media for the ignorance and greed of anyone that has fall victim to scammers. The truth is that "nothing is perfect," Like @EarnOnVictor has said. Anything that has advantage also has its disadvantage, the social media have been used to promote so many altcoin project and I am quite sure that through some social media platform, many people have tried to talk their friends into investing in Bitcoin via their chats on those social account.

Crypto is the way it's because it's not regulated like the way stocks and other things but I hope you know that their are scams going on in traditional space like crypto too but crypto is in the front of headlines because it's the one that make noise the most due to it nature of profits it has given people and this has escalated people to want to invest and you know what scammers does at their best, they learned about what people are trying to learn and they take advantage of their ignorance, this is why yiu see crypto scams in social media.


Don't say what you don't know. There has been millions of aidrop but there is nothing like data to compare what Telegram mini apps are doing right now and beside when Aidrop where been done back in the days before this mini apps, the number of people that were doing crypto are far less than the number we are having right now.l and let me tell you, this is a trend that will also soon fade, next year most of this apps will be dead when another trend start.

There is always a good side and a bad side in every development and movement, so with the social media you mentioned, it does have an attachment to the breadth of information about this industry to be better and more in touch with the community outside, this adds to the support of a very positive adoption of crypto, it's just that we can't deny bad events such as fraud, phishing and so on to deceive many people also cannot be eliminated in this development, but with the passage of time and the development of knowledge fraud will continue to thin out and people will be smarter in deciding whatever they see on social media.


“I think this thread doesn't deserve to be on the economy board, it would be nice to move it to altcoin discussion or altcoin speculation”

Social media's the megaphone, not the Messiah of crypto. Sure, Telegram and the like spread the hype faster than wildfire. But that ain't support, it's clickbait. It's about views, not value. Social media's speed bypasses the brain's brakes. People see an airdrop, FOMO kicks in, and, they're in. No research, no strategy, just impulse

And when it blows up? "Oh, it's the media's fault!" No, it ain't. You clicked the damn link. You fell for the get-rich-quick scheme. That's on you. Lack of critical thinking, zero computational skills to sniff out a scam - that's the problem. And we call this "mass adoption"? Nah, it's mass exploitation, dressed up in a shiny new suit

I realize that what people say regarding the impact of social media to crypto is getting to Op, but that's not a lie. Social media is killing the purpose of cryptocurrency. The technology wasn't created to be feasted by scammers and liars - who do not bother about the interest of the crypto communities, but to fulfil their selfish interest. If investors continuously get attacked on social media, sooner more people will let crypto investment go...

Recently, more than 50,000 people have been scammed, in 2024, with cryptocurrency investment scam, and those hawks flock on social media for their chicks. It's not the fault of the platforms that these victims were greedily looking for a tripled profit in a very little space of time, yet it's harmful to crypto. E.g. Pig butchering scam were investors are deceived with faked deposits on scam sites.

The good part that social media has played in the development of crypto is greater than the negative part of it despite the challenges. By the way, the recent airdrop going rampant on telegram is not a win for crypto in my own opinion. To a great extent, it's giving crypto a false perception to people since majority of them are newbies with absolutely no knowledge of crypto. They are quick to tag it a scam if they failed to pay them since their participation is mainly to make money. They see it as a quick money making avenue not because they are interested in crypto and it growth.


The way government is trying to regulate crypto to suit their own interests, it'll be difficult for people in such countries to have a free access to crypto. It has made peer to peer transaction easier despite that it's highly risky. You don't need to trek miles in search of a vendor when you can easily sit in your comfort zone and perform transaction easily giving credit to social media.

True. There are people who sell stuff on instagram specifically. If one day insta goes down, so will their business. It is scary to see that lots of people depend on these social media platforms a lot. People don't want to rent a store and sell stuff anymore. Retail is pretty much dead. Especially after the pandemic, the demand for online shopping went through the roof and that affected in a positive way crypto too. Some of those people use crypto for their purchases in the end. The number might not be great compared to credit cards but it is better than nothing.

Regardless of the false informations against Bitcoin that has been spreading across the social media, it is also important for us to give some kudos to the social media because it is the easiest way to spread informations globally even as it has been of a great help to the cryptocurrency especially Bitcoin.

A lot of good projects has been well known today by the people as a result of the social media and people keep getting good updates every day through the help of the social media because most projects drop daily news and announcements on X and other social media platforms I think it is online some one who is yet to benefit from the informations of the media that wouldn't agree to this.

It is also important for us to talk about the bad side of the social media as they have tried to kill some good projects even though they ended up making people to get to know the project more so I think till tomorrow no one will say he or she has not benefited from the informations on the media not even anyone who's into cryptocurrency as an investor or trader.

Social media has its own advantage and disadvantage on the crypto space, irrespective of the scams being encountered by many users of social media, you will agree with me that the rapid spread of informations concerning Bitcoin and other cryptocurrency was as a result of the use of social media, talking about the negative aspect of social media, i think people should know that not all information gotten from social media is true, the problem with many people is that they only concentrate on the good side of any stuff, they dont want to know if there is any kind of danger that may be involved in what the find interesting, most times scam victims are mainly the cause of their predicament because of the mindset of achieving what we know that it is impossible in a short period of time, although there are bad eggs in the social media that's why it advisable for us to understand how to go about making use of the media in other not to be victims of unforseen circumstance.
It is an irrefutable fact that the social media has been a good tool for the preaching of Bitcoin and cryptocurrency in general, since digitalization has been the talk of the day, social media will continue to be the best aparatus for sensitization, dissemination of information and marketing, individuals should be watchful at all time to identify scammers antics in other not to fall for them as for the social media, the benefits surpass the demerits.

Of course good effects on crypto will be there from social media but bad things will also be there.

Because we members of this forum are too much of a prude to accept anything beyond bitcoin and we see people wasting money on shitcoins which are being promoted on social media, we tend to get angry at their naivety. It does not mean that social media is always bad but if you start to censor it, it will not be popular anymore.

Which leads us to a middle ground, social media being annoying and a waste of time for diligent traders, should be avoided.

Social media (and internet itself) has been a double edged sword from day one. It has indeed done a lot of damage. Not just to bitcoin but to a lot of things including societies. But it has done a lot of good as well. The problem with internet in general is that there is no filter on who can say what. Which is exactly why there is so many false information on it, and it has been a playground for all types of scammers. The anonymity gives them courage as well!

The only solution is that the rest of us who understand different topics (be it cryptocurrency related or not) should participate and correct their misinformation and inform other people.
For example when you see an obvious scam-coin is being advertised to newbies, start educating them on how they can lose their money investing in that shitcoin. Give them examples of past scams, etc.

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.