What Are Crypto Communities and How Do They Boost Adoption?

One of the bedrocks of cryptocurrency are crypto communities. These communities exist on online messaging platforms and are made up of like-minded people invested in one cryptocurrency or another.

Crypto communities play a major role in promoting cryptocurrency and blockchain technology. They also play a vital part in boosting mainstream cryptocurrency adoption. Here’s how they work, what they look like, and why they’re so important.

What Are Crypto Communities?

Crypto communities are dedicated groups of individuals with a common interest in gaining knowledge about cryptocurrencies and blockchain technology. This is with the aim of building a crypto-related initiative, becoming a thought leader in the crypto industry, or investing in cryptocurrencies.

These communities provide a platform where anyone can learn about cryptocurrency/blockchain, talk about the latest advancements in the industry, and exchange relevant ideas or opinions. Conversations usually revolve around the latest crypto coins/tokens, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and Web3.

Crypto communities can be found on popular online messaging platforms, with conversations happening 24/7, as participants come from all over the world with differing time zones.

One of the earliest known crypto communities is Bitcoin Talk. It is where the acclaimed founder of Bitcoin, Satoshi Nakamoto, shared ideas with other developers on the formation of the pioneer cryptocurrency. Crypto communities have since evolved, with different communities available for newbies and experts in the crypto industry.

Why Are Crypto Communities Important?

The founding days of cryptocurrency saw only a small group of people understand its concept and potential to be a game-changing alternative to traditional financial systems. These groups of people were mainly software programmers interested in the idea of a digital currency with no borders or central control.

Crypto communities have evolved from those days and now have several categories to cater to all groups of people. The most popular type of crypto community is formed around a cryptocurrency that already exists or is about to be launched.

Other communities typically fall into one of these categories:

  • Informational communities where anyone can learn about crypto/blockchain technology
  • Investment communities where advice is shared on cryptocurrencies with profit-making potential
  • Development communities with conversations revolving around how to make blockchain technology better

How Are Dedicated Crypto Communities Formed?

Cryptocurrencies can be complex, and crypto communities aim to create a safe space for anyone interested in crypto. In addition, communities facilitate continuous education and increased collaboration, which contributes to the overall adoption of crypto by people all over the world.

Crypto communities are formed by crypto experts interested in teaching others, crypto start-ups seeking to provide a deeper level of engagement with investors, and crypto influencers seeking to provide investment opportunities. Most crypto communities typically have similar roles to help manage different aspects of building the community.

Crypto communities usually consist of two major roles. First, community owners create the community and have full access to all administrative aspects of the community. Community managers govern different parts of the community. These roles include moderators (mods) responsible for controlling conversations in the community and ensuring community members don’t engage in activities outside the community’s purpose.

Another common role in a crypto community is “Shilling.” Shillers are responsible for keeping the energy going in crypto communities. They achieve this task by creating dedicated times for promoting a cryptocurrency on social media, organizing giveaways for loyal community members, and sharing new information.

Community members can take on these roles and can morph into full-fledged careers in crypto. Crypto communities have guidelines for their members to maintain the essence of the community and help regulate activities in the community.

interconnected web of individuals

Where to Find Crypto Communities

The three most popular online messaging platforms for crypto communities are Telegram, Discord, and Reddit. These platforms have become the preferred options for starting and maintaining vibrant crypto communities.

  • ICO Speaks on Telegram is a well-known crypto community that provides access to education and investment advice for crypto beginners and experts alike. The community regularly hosts “Ask Me Anything (AMA)” sessions, allowing community members to participate in conversations on crypto-related topics.
  • Official WallStreetBets is one of the biggest crypto communities on Discord, with over 550,000 members. It offers discussion threads on cryptocurrency, NFTs, and other crypto-related topics.
  • CryptoMoonShots is a crypto community on Reddit that boasts over one million members, making it one of the largest crypto communities in the world. This channel offers investment advice on newly launched coins/tokens with the potential to generate profit for its members. It also offers general crypto education.

Benefits of Crypto Communities

Crypto communities’ primary advantage is offering their members a sense of belonging. Crypto is breaking new ground across several industries, and it is important to be knowledgeable about the latest happenings and share ideas with like-minded people.

These communities provide crypto start-ups with a medium for effective communication, customer service, and engagement. Members can quickly have their issues resolved, share their opinions freely, and get timely feedback on any crypto-related matters.

Communities also provide investment and profit-making opportunities for new or existing cryptocurrencies. For example, members can benefit from getting access to information on early coin and token launches, ICOs and airdrops, or participating in pre-determined tasks in exchange for free coins/tokens.

The Influence of Crypto Communities

Crypto communities are influential due to their growing member base. Some communities claim to be able to influence the growth or decline of a cryptocurrency, although these claims have yet to be fully substantiated.

Communities are also spread across several geographical locations, which allows members who live in the same location to host physical meet-ups. These meet-ups serve as avenues to bring in and educate new people interested in cryptocurrency.

Crypto Communities are Important in Boosting Crypto Adoption

It is proven by science that people are more likely to use a product or service that a close friend or family has used. This is the same principle that applies to crypto communities. Every crypto community member typically becomes a crypto evangelist spreading the word about crypto and its benefits.

Crypto communities have emerged as one of the biggest catalysts for the adoption of crypto globally. These communities help onboard people to start learning and using cryptocurrency. Crypto communities will continue to grow and evolve with the sole aim of pushing cryptocurrency as a part of everyday life.

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