Cryptocurrency is a digital currency that is created and stored electronically. Cryptocurrencies are decentralized and not managed by any central authority like banks or governments. The first cryptocurrency to be created was Bitcoin in 2009. Today, over 1,500 different cryptocurrencies are in circulation, with a total market cap of over $200 billion. Cryptocurrency’s popularity has steadily increased year over year, but it remains largely unregulated. The United States is one of the leading countries for cryptocurrency adoption, but it still lacks regulation for the industry.
What is Cryptocurrency Marketing?
Cryptocurrency marketing is a type of marketing used to promote cryptocurrencies to the public. It involves using different marketing techniques to increase cryptocurrency awareness and its usage.
The main goal of cryptocurrency marketing is to raise awareness about cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. These are all digital currencies that are not regulated by any government or central bank and can be used for online transactions without any middleman.
Social Media Marketing of Cryptocurrency
Cryptocurrency Marketing via social media is a social media marketing strategy that involves cryptocurrency. Cryptocurrency is an online currency that can purchase goods and services.
A major advantage of this type of marketing is that it allows for custom content creation. This means that a company can create content related to their product or service, encouraging people to buy their product or service.
Top sites that promote Cryptocurrency are Reddit, Discord, Telegram, Twitter, and Medium. Not all social media platforms are allowed to conduct cryptocurrency marketing. But on December 2021, Facebook officially started promoting cryptocurrency.
Facebook has started to allow crypto advertisers to use the platform for cryptocurrency marketing. This social media platform has enabled some crypto organizations to promote their products without submitting any financial license proof. For instance, crypto tax services, blockchain wallets, news, and event.
Until now, Twitter has been the top social media platform for crypto marketing. But now, as Facebook has started to enable crypto business owners to promote crypto without any documentation, it can be expected that Facebook will dominate the crypto marketing.
Itai Elizur of MarketAcross asked, “What’s Facebook?” and stated, “I think the crypto ‘watercooler’ is Twitter, but the real opportunity is SEO/organic, as we see search volumes increasing while Google keeps penalizing many crypto news sites. This means there is a place for brands to capture that high-quality user intent traffic.”
Elizur does not feel that paid advertisements on Twitter or Facebook are effective for cryptocurrency marketing, making it far more difficult for conventional advertisers to engage in these projects. However, social media platforms have been proven to be the best way of marketing as through these platforms, advertisers can reach a wide range of audiences, increasing product awareness. Now, it only can be hoped by the crypto business owners that the association with Facebook will bring them more profit and success.
