Over the past few years, Cryptocurrency has gained tremendous popularity and helped increase investors’ net worth. Cryptocurrency is often believed to be the new buzzword that has the power to change the finance and marketing sector. People talk a lot about Cryptocurrency these days. Around 2016, only the developers knew about this term. And suddenly, Bitcoin and Crypto have become the talk of the town. Cryptocurrency and social media have a very vital co-existence because the influence of social media is gaining importance with each passing day.
In this post, we’re going to cover the role of social media in the success of crypto – and we shall also talk about the top 10 Crypto millionaires on the social media platform.
What is Cryptocurrency?
Cryptocurrency is a digital, decentralized, and encrypted currency. It uses blockchain technology. Blockchain technology is very secure, which makes the risk of hacking almost nil. The coin is entirely decentralized and is wholly controlled by the people who own it. It is a type of currency not regulated by the banks and had no effect on inflation. Cryptocurrency is a new-age virtual currency secured by cryptography. It is based on a network distributed across many computers. Since the blockchain network decentralizes the coin, it thus remains outside the purview of the government authorities.
The rise of Cryptocurrency:
So how did this entire virtual currency come into existence? Bitcoin, which is probably the first kind of Cryptocurrency, was invented by a group named Satoshi Nakamoto. In 2008, Nakamoto published an article stating the working and functioning of Bitcoin. It marked the beginning of a digital currency that was completely decentralized.
It included all the concepts that hold importance in the functioning of the entire cryptosystem. It talked about new coins, the blockchain system, and decentralization. All this started on emails and online forums. To promote Bitcoin, they made an email list of 2,000 people, and a platform like Bitcoin Talk was created.
How Cryptocurrencies are using social media channels:
Cryptocurrencies often struggle when it comes to educating potential clients. Learning about Blockchain or Cryptocurrency is not easy; there are many technicalities attached to it, so sharing information on social media has played a vital role for the crypto companies to build their brand awareness.
Cryptocurrency has gained massive popularity in the past few years, and people investing in them are passionate about it. So, many crypto companies are creating chat rooms, social media channels, and forums to keep their clients updated and connected through their posts in these communities.
A lot of blogging sites help you tag articles that can be seen by people interested in the topic. It is an excellent way of increasing the brand presence amongst the target segment. Cryptocurrency is a hugely popular tag on some blogging sites. It is a great way to build engagement for the company’s social media channels. Sharing relevant and informative content also increases trust amongst the audience.
How exchanges use Social Media:
The Cryptocurrencies companies and the exchanges that trade these securities are actively engaging their target market with news and updates on their social media handles. It helps in customer support and alerting them timely.
Brands build trust by addressing all the security concerns immediately through the media handles. It is imperative because crypto is a very new area of interest for people. It also helps in giving daily industry news and updates.
Lots of companies also use social media for hiring their employees. Sharing jobs through social media provides a higher engagement and helps the vacancy reach the users who will be passionate about the job. Crypto Companies also offer benefits and discounts to draw the attention of the audience towards their brand.
The lavish life of Crypto influencers and millionaires on Social Media
The Cryptocurrency market is volatile and unpredictable. To sail in this sea successfully, you need to be updated with the latest developments. People passionate about the world of crypto have made millions out of it and flaunt it quite actively on social media. They keep posting updates, opinions, and developments. Following them can keep you on track with the happenings in this sector, and maybe you can become the next big influencer:
Vitalik Buterin is a well-known name when it comes to Cryptocurrency. He started investing in the field of crypto at the young age of 17. He also began writing the Bitcoin Weekly once he cleared his high school and then became the co-founder of the Bitcoin Magazine. The limitations that he came across while trading in Bitcoin led him to launch his platform, Ethereum. He is a creative writer and is regular with his blog and tweets. He is a great inspiration for people who wish to start investing in crypto.
He is another venture capitalist and angel fund investor. He is the founder of Draper Associates, where they finance some extraordinary projects. His involvement in any ICO gives a sense of trust to the investors. He is behind the massive success of Tezos and Bancor. He is pretty vocal and active on social platforms and keeps writing his views about the regulatory environment for crypto. His Twitter handle is full of helpful information about all the opportunities that the crypto space provides.
He was another early investor in crypto and has been involved in the market since 2011. He was the Head of Marketing at BitInstant. Later he found Coinapult in 2012, followed by ShapeShift in 2014. Today, he is the CEO of ShapeShift. Voorhees is known as one of the top influencers in the Cryptocurrency community in the social media space. He actively shares his knowledge and opinions through his Twitter handle.
Charlie Lee is the man behind Litecoin and was the former Director of Engineering at Coinbase. It is also speculated that Lee was a part of the Bitcoin creation team. He is a crucial person behind SegWit. He is very active on Twitter and never fails to impress his hundreds of thousands of followers.
Barry Silbert is the Founder and CEO of Digital Currency Group. He is a tremendous influence in the field of Cryptocurrency today. His company is a seed capitalist and funder for crypto start-ups. Silbert is also the Founder and CEO of Grayscale Investments and is also a part of the Coindesk management. He is also part of various Ethereum trusts. His expertise in altcoins helps people make informed decisions for investments.
He is the co-founder of Coinbase with Brian Armstrong; Fred Ehrsam is also actively involved in various other projects. Fred Ehrsam is very vocal about his opinions in the Cryptocurrency segment and shares his personal experiences on social platforms.
Brian Armstrong is the CEO and Co-Founder of Coinbase. He is a significant influence in the lives of merchants and investors using Cryptocurrency as a means of investment. He is believed to have a substantial impact on the crypto space through his posts. His Twitter handle is full of the latest news, opinions, and information of all that is happening in the crypto world.
He is the author of many books like Mastering Bitcoin, Mastering Ethereum, The Internet of Money, and many more. He is very vocal about his views and opinions regarding the crypto space. His YouTube channel, podcasts, and writings are valuable and informative sources for understanding the technicalities of Cryptocurrency.
Roger Ver is one of the world’s first investors in Bitcoin.com, Blockchain.com, Z.cash, ShapeShift, BitPay, Purse.io, and Kraken. He is known as the “Bitcoin Jesus.” He keeps sharing his views and opinions through different Bitcoin forums and websites. His Twitter handle constantly provides valuable information on essential issues like blockchain management, ethics involved for cryptocurrencies, and many more.
Ben Horowitz is a crypto investor and analyst. He is the author of The Hard Things about Hard Things and co-founder of Andreessen Horowitz. He has rich knowledge in management and software development and provides valuable insights into altcoins as a source of investment.
In the world of Cryptocurrency, information and proper guidance is the key to success. So, following all these millionaires on social media will keep you updated in this field, resulting in successful investment decisions.