6 Benefits of Crypto Communities
If you spend time within the crypto industry, you will have noticed that there are endless communities for you to be a part of. Telegram groups, Twitter communities, Reddit forums, and Discord servers are just some of the options available and some of the more popular ones have hundreds of thousands of members.
If you’re not already a member, it can be hard to imagine what benefits they offer that make them so popular. The truth is that virtually every crypto user can benefit from engaging with these communities, with some of the benefits being as follows:
Finding Tokens to Invest In
Crypto investors are always on the lookout for their next big investment opportunity. The crypto space is chock-full of options and as Kane Pepi points out, there are many contenders for the best cryptocurrency to buy. This can all get a bit confusing but this is where the community comes in.
Crypto communities typically see members recommending specific tokens to others and letting them know why they are good investments. Also, you can lean on the community for feedback when considering any token and this makes the decision-making process easier. When investing in a market as dynamic as crypto, you want people in your corner and a crypto community can provide this.
Learning About Crypto
If you’re a newbie to the crypto scene, chances are that you are still learning about the different concepts within crypto and how they work. What is a blockchain? How do crypto payments work? What crypto wallet should you use? You’ll have a lot to learn and while there are many resources online, a community can also be a source of information.
Because you’ll be dealing with other ordinary people, many can explain these concepts and offer recommendations in simple language that won’t confuse you. If you’re looking to learn more about crypto, joining a community should help.
Hearing About Scams
As you invest in crypto, you’ll have to dodge the scams that are, sadly, not uncommon in the industry. This includes shitcoins, pump-and-dump schemes, malware, fake investments, and so on. Investors have lost billions to such scams so far and thus, always have to be on the alert. Being part of a crypto community means that you can hear about many of these scams as they are reported. Before a crypto news site has the opportunity to write a detailed story on a new scam, many communities will send alerts in real-time warning members about them. Needless to say, this can save you a lot of trouble.
Finding Out About New Tools
The crypto space is constantly evolving and new services and tools emerge to meet customers’ needs. This includes things like trading bots, crypto wallets, high-capacity miners, and whatnot. Knowing about these tools (and in good time) means that you can take advantage of them and reap the rewards. This is where crypto communities come in as members share lots of information regarding the tools and services that they have heard of. By joining these communities, you can hear about these even before the general public and that is a perk worth pursuing.
Community and Humour
Let’s face it; people join communities for, well, community. It is always a relief to have people to vent to when a crypto investment doesn’t go well or to celebrate with when your favourite token goes to the moon. Just like sports fans, pop music listeners, fans of a TV show, or anything else, people get a lot of emotional benefits from being in a community with like-minded people.
Speaking of which, crypto communities are known for their meme and humour (after all, there is an entire niche of cryptos that are all about memes) and no matter what type of investor you are, everyone needs a laugh now and again.
Discounts and Deals
Crypto communities are a great way to seek out deals of all kinds. Community members often share discount and referral codes, links to products, and much more. It’s not unusual for one member to mention a product or service they want to pay for and other members point them in the direction of the best deal. By engaging with a crypto community, you can save yourself a lot of time looking for deals and a lot of money.
Conclusion
Crypto communities are all around us and every day, people join and gain lots of benefits from them. Newer crypto traders can learn both the basics and more advanced concepts from other traders. They are also an avenue to learn about new developments in the industry, whether it’s tokens to buy, products to consider, or even scams to avoid. Finally, these communities offer virtual companionship and camaraderie for those navigating the complicated space that is the crypto industry.