A cryptocurrency community is a group of people who communicate, collaborate, and coordinate with each other pertaining to the future of cryptocurrencies. The present-day cryptocurrency market has seen significant growth in terms of popularity and institutional adoption.
There is immense potential for new opportunities in this space, and it is crucial to know how to build a crypto community to make your project or ideas become the next big thing.
Cryptocurrency communities are emerging in various forms – from conferences and meet-ups to subreddits and slack teams. In order to develop a successful cryptocurrency project, you need to attract the right members to build a strong community and become the hottest crypto community manager in town. In this article, we will discuss several ways to achieve your goal.
10 Best Ways to Build a Crypto Community
1. Create a Telegram group
A telegram group is simply a group of people communicating with each other online. Cryptocurrency project teams often use these crypto community telegram groups to share information on their products and communities.
Most cryptocurrency enthusiasts today are familiar with Telegram, and it is the obvious choice because of high crypto community engagement. There are millions of Telegram users across the globe and many don’t shy away from joining new communities. You can create a Telegram group to promote your cryptocurrency project or ideas and the community will rally around it.
2. Launch a platform on Slack
A cryptocurrency community on Slack is like a chatroom for crypto enthusiasts who want to communicate with each other online. Slack is an excellent platform for communicating information about your cryptocurrency community. It enables you to create different channels for different purposes – announcements, development, marketing, etc. You can also set up bots and filters to route your messages based on the channel of the member.
The major benefit of using slack is that it makes it easier for users to share information with each other in a structured way. Slack also provides you with analytics on how your community is growing, which allows you to adjust your strategy according to the feedback that you receive from the community and your own goals.
3. Leverage Reddit forum and subreddits
A great way to learn about cryptocurrency communities and their developments is by listening to their discussions on Reddit. Reddit is very active, and you can find numerous cryptocurrency-related sub forums where people discuss topics related to their cryptocurrency projects. Most of these subreddits either belong to a cryptocurrency project or are associated with it.
There are several rules that different cryptocurrency communities have for their subreddits, so make sure you read them carefully before joining. These communities typically have moderators who actively moderate the forum and may apply certain rules and filters to ensure that all discussions are relevant to the topic at hand.
4. Create Crypto Discord Channel
Similar to Slack, Discord is a free software application designed for online gaming, but it is increasingly becoming a popular communication platform that allows people to communicate across platforms in real-time.
It also allows users to set up groups where they can discuss different topics related to their cryptocurrency projects or ideas. Discord has a built-in voice system that allows you to integrate with your telegram group and use it.
Discord is much like Slack and is easy to use. You can create channels for developing and marketing your cryptocurrency project or ideas. The major benefit of using this platform is that it also makes it easier for users to share information about the community and concept with each other in a structured way.
5. Telegram Channel
A Telegram channel is like a chatroom that can be used by multiple people who have Telegram accounts. It is a great way to connect with the cryptocurrency community and share information about your cryptocurrency project or ideas.
Telegram channels are a bit more difficult to set up, but they are very effective in terms of sharing relevant and useful information with your community. Telegram channels can be compared to online magazines where you post articles that are of interest to the people who have subscribed to the channel.
If you would like to create a crypto community Telegram channel, there are certain rules that different communities have for their channels. Read these rules and closely follow them. Otherwise, you will be banned by the community.
6. Create Crypto Facebook group(s)
Facebook is arguably one of the most useful social media platforms from an advertising perspective. You can use it to promote your cryptocurrency project or ideas and build a Facebook group with your members.
There are several Facebook groups that cater to cryptocurrency projects and ideas. You must make sure you are creating a legitimate group as fake ones often flop badly. But if you can get someone who actually has a very good idea, then you should make the effort to build such a group on Facebook. This is primarily because the members of the group tend to become more active than those who join only because they are interested in it.
7. Use Crypto Influencers
Have you ever heard of the term “influencer marketing”? It is a marketing strategy where brands pay influencers to endorse their products or ideas. Many cryptocurrency projects are now leveraging the power of influencers and paying them to promote their cryptocurrency projects.
There are several reasons why companies have started using social media influencers to promote their products, but the primary motivation is that these people have a major impact on consumer behavior. For example, if a cryptocurrency company offers 5% returns on investment in the first year, then if you pay someone to promote the product and say “hey everyone, invest in our cryptocurrency project because it will return almost 6% a year!” then people would likely listen to what people like you say.
If you want to promote your cryptocurrency project or ideas effectively through influencer marketing then you have got to make sure that the influencers are hype about your concept. You can do this by following them on social media, engaging with them, and also by sharing interesting news or posts that have been created by them.
8. Give Incentives or Setup Crypto Referral Program
If you want to build a strong community of people who are interested in your cryptocurrency project or ideas then you must give them incentives to join and remain active on your platform. These incentives may vary from one project to another, but they typically include tokens, discounts, and other benefits that encourage people to purchase your tokens.
To explain this point further, let’s take an example of two projects X and Y. Project X has a major focus on customer support, which it achieves by offering attractive discounts and a good return on investment. Project Y does not have the same focus on customer support, so it has to make up for it somehow. This is where incentivizing the community comes in.
Project X uses a referral program that allows people to receive 10% of all tokens sold when they send people to buy its token. So if a person sends 100 tokens to buy into Project X, then 10 of them go towards paying down the debt that Project X has accumulated and it is released as a reward for community members who had honest and good intentions when they bought its tokens.
Project Y has a referral program where people can earn 10 USD worth of its token by referring people to buy its token through their social media accounts. These referrals can be made in the form of posting interesting content that provides value to your cryptocurrency community.
9. Use Crypto Community Manager
You must make sure that you build an ecosystem that is extremely effective and provides a great customer service experience to your customers. This will help your community retain members who are enthusiastic about your project or ideas, so it is important that you use a crypto community manager or ambassadors that are passionate about using and promoting your cryptocurrency project.
The best way to do this is to create a list of ambassadors who are using your cryptocurrency project or ideas and include them in all major cryptocurrency forums. These people should be hard-working and passionate about using your platform, so make sure you keep them happy.
10. Hold Contests
Finally, running contests can be a great strategy to build your crypto community platform and generate more interest in your cryptocurrency project or ideas. These contests must be memorable, fun, and engaging so that they create an impact on the community members who participate in them.
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Where to find new crypto projects?
A great way to find potential projects that you may want to promote in the future is to scour through cryptocurrency forums or general communities. A lot of people share their ideas, most promising projects, and products, drawbacks of products, etc on these platforms. You can also get in touch with influencers who are interested in cryptocurrency projects and ideas in order to follow them closely as they will often give valuable insights into new developments.
Following crypto influencers on social media too will give you an idea of what they like or dislike. You can also write about the projects that they are promoting to gain more followers and help you develop a trusting relationship with them.
These are the 10 ways how to build a crypto community that you can use to promote your cryptocurrency project effectively and build a strong community of supporters behind it. Of course, you still have to keep working on the project diligently and make sure that you have a well-designed community.
There are other factors that play a major role in community building such as reputation management, customer support, and product quality. These must be top-notch as they can also create an impact on the people who will use your cryptocurrency project or ideas. Whatever strategies you choose to promote your cryptocurrency project effectively, ensure that it generates enough interest from the people for them to want to buy your tokens and use your services.