Social media has been a very big influencer in today’s world. There is no particular field that social media hasn’t influenced and this holds true for cryptocurrency and blockchain, as well. Different social media forums contributed to the spread of cryptocurrency. From posting ads on Facebook to discussing startups on twitter, cryptocurrency has come a long way thanks to the influence of social media.
Social media is the reason why the world has turned into a small place. Globalization of anything can be done easily through social media. No wonder it has become a new and effective platform for promotions.
So, when we are talking about concepts like blockchain and cryptocurrency there is no way people are going to understand them easily. This is the reason why cryptocurrency wasn’t an instant success. But with the involvement of social media, it is quite evident how far cryptocurrency has come.
For example, Bitcoin is the most popular cryptocurrency as of now. But it isn’t an instant success. The involvement of social media platforms like Facebook, twitter, and most importantly Reddit laid the foundation for the rise of bitcoin. So, basically, social media platforms help the users to get exposed to cryptocurrency and its various aspects. And this information is given in a very easy and simple manner.
Social media not only helps to keep cryptocurrency mainstream but also will influences the fluctuations of its price. When tether was hacked recently its value dropped by 5.4%. This is due to the spread of news via social media.
Cryptocurrency has come a long way since its release. Sure there are some backlashes and controversies, but it continuously excelled from the beginning. It is still considered a very good opportunity for investment.
So, in order to make that investment, people again should turn to social media for proper feedback. With new changes in cryptocurrency and also with new innovations there is always something, people have to know about. At that point, social media helps. It’s not just by providing information, social media is also promoting cryptocurrency by advertising them.