Social media continues to impact the cryptosphere, to such an extent that we recently saw a tweet from Elon Musk causing both FOMO and FUD. As a result, people have been making investment decisions based on what’s trending.
The way in which people use social media in the crypto space, has helped bring about mainstream awareness through platforms like Twitter, Telegram, and Reddit. A new social media platform specifically created for crypto enthusiasts, Crypter has come about to improve on many of the shortcomings of these platforms.
Twitter is perhaps the most popular social media platform used in the crypto ecosystem. A major issue that has been seen, on Crypto Twitter (CT) is how some celebrities are shilling their favorite meme coins or pump and dump schemes. This creates significant risks for crypto users and their investments. To prevent this, each project that joins Crypter undergoes a vetting process enabling community members to be more protected.
Telegram is another platform that is extremely popular with the crypto community, as it enables projects to communicate and interact with their community more directly. Within Telegram, it is also easy to create groups and channels than other platforms.
A challenge within Telegram is when investors new to crypto join these groups and end up creating a space where experienced investors choose to leave as the group is no longer adding value to them. In contrast, users on Crypter are all crypto enthusiasts, allowing projects and individuals to create content for like-minded people.
For many crypto investors, Reddit has been considered the go-to platform for life-changing returns, where investors got in early on projects, that have gone on to become mainstream. While the Reddit platform does not reward users for engaging on the platform, Crypter’s Engage-to-Earn system does. Users get paid for being active on the platform
While all the social media platforms are vital to the crypto ecosystem, they have on occasion been the reason for creating a negative perception about the crypto space. Crypter aims to change this, and its platform, monitored by mods and the community is what the crypto space requires to ensure users’ safety and better information and wider adoption of crypto.