Similar to other industries, cryptocurrency has its own set of influencers. Why these people exist, or why anyone would take their advice to heart, will always remain a mystery. Conducting own research before investing in any market remains advised.
The Rise of Cryptocurrency Influencers
Given the global appeal of cryptocurrencies, it is not entirely abnormal to see more influencers position themselves on the market. Everyone in this industry wants to make money. Doing so quickly will often be a more favorable approach. However, there is no reason to make money at all costs, and especially not to follow advice from random internet strangers.
This is part of the problem most cryptocurrency influencers bring to the table, Initially, these individuals could be seen as “guiding voices” to educate the people. In reality, they all want to score a quick buck, regardless of the consequences. Avoiding any dealings with these people is often the best option. They rarely have other people’s best interests at heart.
At the same time, not all cryptocurrency influencers are greedy. Some of them effectively aim to play an educational role first and foremost. There is a steep learning curve associated with this novel industry. Getting the basics right can make a world of difference further down the lines.
The problem is how difficult it can be to find legitimate influencers these days. Social media makes it nearly impossible to separate good from bad people. Additionally, platforms as YouTube let users promote scams, Ponzi schemes, and useless clutter as much as real and evolving projects.
For novice users, there is a lot of information to go through. This needs to be streamlined before the industry can gain any sort of mainstream traction.
An Effective Marketing Tool for Some
Despite the image problem cryptocurrency influencers face today, several companies and projects stick by them. There is no wrong approach either, although an influencer needs to be aware of the brand they represent. If they decide to shill a potential scam, it will look bad for the legitimate company they are promoting as well.
Promotional content will always serve one purpose: making money off of others. Whether it is referral links, airdrops, or deposit bonuses, an influencer wants to make money. With that mindset, it is not hard to see why so many terrible cryptocurrency projects have succeeded in their own way. It is due time to leave the bad projects behind and only focus on what’s worthwhile.