Cryptocurrency has grown a lot in popularity and value over the last few years. This currency has the strength to change commerce and economics forever. But as bitcoin, being a digital currency, starts to gain more users, cryptocurrency has some chances to present problems to marketers searching for accurate consumer data.
In simple words, cryptocurrency can be stated as a peer-to-peer web that encourages digital currency to be received and sent, among other stuff.
Cryptocurrency proves to be very helpful when it comes to Instagram marketing. But there are lots of Crypto scams going on too on Instagram. So, it’s better to be very careful and look and judge wisely before investing some digital currency in social media marketing.
What is cryptocurrency?
Cryptocurrency is a digital, encoded, and decentralized currency that takes the help of blockchain technology. Moreover, it also has a certain level of safety as it is impossible to hack for the security provided by blockchain technology.
As mentioned earlier, it is decentralized. People who own it have individual units of the currency. The benefits of using cryptocurrency are many as they are not controlled by inflation or banks. It is entirely controlled by people who own it.
What is blockchain?
A blockchain is a divided digital register of recorded figures. Blockchain plays the role of transaction history for every small part of cryptocurrency, mainly the change of ownership with time. It works by noting down the transactions in ‘blocks,’ and the new ones are attached to the front of the chain.
Working of the cryptocurrency markets –
As mentioned earlier, cryptocurrency markets are not centralized, and thus, they are backed or issued by any central authority. But the exciting thing is that they mainly run across the web of computers. However, buying and selling cryptocurrencies through exchanges and storing them in “wallets” are entirely allowed.
The existence of cryptocurrency begins and ends in the shared digital record of possession, stocked on a blockchain. At the same time, cryptocurrency exchanges are directly sent to the person’s digital wallet. They have to wait for the transaction to be verified. Then only, the transaction will be considered as completed. After that, it is added to the blockchain.
And the whole process from verification to the addition in the blockchain is known as mining. By this process, you can also create new cryptocurrency tokens.
Social media and cryptocurrency
Social media affects our daily lives on a different level as everything revolves around social media nowadays. Some people also live under the impression that if some things are not trending on social media, they are not happening. Thus cryptocurrency has a huge role when it is used in Instagram marketing due to its success and value.
The social media platforms flood daily with the latest news about the currently trending and most popular cryptocurrency, known as bitcoin. And this has a considerable contribution to the launching of bitcoin into the mainstream. It’ll not be wrong if cryptocurrency can be considered as an investment option on Instagram.
Social media can also contribute to market price fluctuations. For example, when a cryptocurrency named Tether was hacked earlier, with over $30 million 8n tokens, the value of bitcoin dropped by 5.4%.
Social media plays a vital role in the future of global acceptance of cryptocurrency. And cryptocurrency plays a huge role in social media marketing. Its approval in the mainstream can lead us to some other generation of social media networks.
Use of cryptocurrency in Instagram marketing
A new form of knowledge to many
Cryptocurrency and blockchain technologies being a decentralized system is beyond people’s imaginations. So one of the most significant hurdles that they have to face is while educating people about themselves. No doubt, cryptocurrency is an essential and exciting thing. And Instagram is one of the popular platforms for youngsters can teach its users a lot about different things going on in the world.
Cryptocurrency is a trending topic, and it promotes Instagram marketing. The number of interested people in this decentralized currency is endless. So, it is easily used in Instagram marketing, which increases the value of the money and gives the social platform a trendy topic to indulge in and earn more from its followers.
Community creation
The vision of cryptocurrencies is to gain more users and get into the mainstream of transactions. It has achieved this target to some limit but has to work harder and smarter to fulfill it completely. It is necessary to create communities that can indulge in such discussions and transactions, and Instagram is the perfect place for such things.
The platform also gains many new users daily just for involvement in the cryptocurrency markets and to get more news about them.
Community creation will strengthen the need to bring cryptocurrency into the mainstream, and Instagram marketing leads in this role. It is attaching a more significant number of users to cryptocurrency along with its platform.
Medium
Instagram is becoming a trending medium for cryptocurrency with its marketing about cryptocurrency. It is supporting even independent brand owners to gain more followers and likes with the posts of cryptocurrency.
Cryptocurrency is naturally promoting Instagram marketing by adding new hashtags to its library regularly. There is constant engagement offered in this niche on Instagram. And any person who is a little bit interested in what is going on in the world will surely know about cryptocurrency through Instagram’s marketing. It is also benefiting many brand owners who offer quality content on this topic.
To sum up, cryptocurrency is used as an integral topic for Instagram marketing and promotions. It drives in more users, engagement, and entertainment, all at once. So, Instagram is taking advantage of cryptocurrencies to build hype around the industry with its marketing.
Also, the cross-promotion of the Instagram content for marketing is rapidly developing engagement and driving in interested people. More traffic is being created for Instagram and the brand owners in cryptocurrency, using Instagram marketing.
Alerting and customer support
Cryptocurrency uses Instagram marketing to direct customers to the correct location at the right time. These exchange systems may not have a permanent support account, but they make full use of Instagram marketing to increase their users and vice versa. For instance, a blockchain platform called Bittrex uses social media for trading and alerting users about some fraudulent activities and directs users to their support site.
Cryptocurrency brands use Instagram marketing to develop their trust by staying on top of their security concerns. The decentralized currency is a new place of interest, and many people are unaware of many things involved in Crypto.
So, they have to depend on the security systems solely. And Instagram marketing drives their attention and engagement by reaching out to more and more people on Instagram. The audience is always in search of something reliable and daunting. And Instagram marketing uses Crypto as the medium to bring in interested people for the benefits of both sides.
The main aim of Instagram marketing is to increase its user base and cryptocurrency to increase its exchanges. Thus, customer support and alerting of the cryptocurrency are broadcasted rapidly through Instagram marketing.
Updates and Industry news
The trading markets of cryptocurrencies are energetically engaging the masses with the updates and news on blockchain currency constantly. The cryptocurrency information is always at the top of the list, and news channels benefit from that by taking the help of Instagram marketing. Cryptocurrency news is used to being in more followers for the news brands in their Instagram account.
And Instagram marketing helps them to spread the word to potential customers. These customers also visit the news websites to get additional information about the exchanges. Here, people can also find their potential traders while indulging in the currency news in a specific account. It can also increase the number of traders of cryptocurrency.
This work is done very well on Instagram, and it serves as a considerable advantage as it brings in tons of engagement from worldwide just from a single update. You can only imagine the total engagements received from all the updates on this. It keeps the profiles active all the time, and Instagram flourishes on the other hand, other than cryptocurrencies.
Conclusion
When this concept of cryptocurrency started in 2008, very few people were aware of the process. Most of them could not imagine that decentralized currency was even possible and that it existed. But now, it has turned into one of the most interesting topics around the globe and is playing a significant role in shaping the future of social media marketing, especially Instagram. The cryptocurrency value has also been affected by the influence of social media.
