When you mention Bitcoin to a random person on the street, they’d probably know what you’re talking about. When you then start mentioning other cryptocurrencies such as Ethereum, Ripple or Neo, however, the likelihood that you’d be met with the same understanding, without the need to further explain yourself by saying something along the lines of “those are other cryptocurrencies that are kind of like Bitcoin, but not quite”, decreases rapidly.
Why?
Why is Bitcoin so much more famous than other top ranking cryptocurrencies?
Because Bitcoin has a tremendous amount of visibility.
Bitcoin is the poster boy of the cryptocurrency world. It has been featured all over the globe — the internet, televisions, radio stations, magazines, books and pretty much any form of media that you can think of. It is little wonder therefore that people see it, know it, and learn about it. Indeed, if it wasn’t for Bitcoin’s tremendous visibility in the first place, many of you probably won’t be reading this article right now. In fact, this article might not even exist at all. For regardless of how much we may love or hate Bitcoin, there is not a shudder of a doubt that its fame has contributed to the world’s general knowledge of cryptocurrencies as a whole.
As alluded to above, visibility is a big deal especially in the cryptocurrency scene. The more visible a cryptocurrency is, the more awareness it would naturally have. The more investors and enthusiasts are aware of it, the more trade there would be. This translates to increased demand and increased volumes — and ultimately, increased price.
So how do cryptocurrencies other than Bitcoin attempt to increase their visibility? Listed below are the various ways in which cryptocurrency organisations attempt to do this.
Social media presence
As a general rule of thumb, cryptocurrency organisations will attempt to exist on every single mainstream social media site available — Facebook, Twitter, LinkedIn and Google Communities just to name a few.
There are also group instant messaging applications where channels are created and maintained to encourage real-time discussion between members of a cryptocurrency’s community. The biggest example of this by far is Telegram, followed not so closely by Discord.
Beyond these, there are also forums such as Bitcointalk and Reddit. Although arguably significant, these are far less popular than social media sites and group instant messaging applications.
General Internet Presence
In our day and age, it would be shocking for any large company to exist without a working and frequently updated webpage on the internet. Cryptocurrencies are no different; a decent website with a complete set of updated resources for any investor is an absolute must.
Apart from a good base website, cryptocurrency organisations also increase their reach by publishing articles on other news websites and blogs. Medium, for instance, is utilised to publish articles and even official announcements.
Document Source
Real world presence
Given that cryptocurrencies exist solely on the World Wide Web, extra points are awarded to those that can show evidence of an active real world presence. This can be done in several ways.
The first is the most direct, and involves the hosting of a physical roadshow or an event that is dedicated to that specific cryptocurrency. This is particularly useful for bringing in new investors that may not even be in the cryptocurrency scene to begin with.
The second involves joining and representing one’s organisation at a general cryptocurrency meet-up or conference. This can include a dedicated stand for that cryptocurrency organisation, or, less formally, involve the mere presence of the team and associated advocates. This option focuses more on reaching out to potential investors that are already interested in distributed ledger technologies.
The third is sometimes related to the second and involves giving speeches to a targeted audience at at event, for instance, at one of the aforementioned meet-ups and conferences. These speeches can either be general or focused on promoting the cryptocurrency that the speaker is representing. Sometimes these speeches are even done at events that aren’t cryptocurrency-specific. As with roadshows, this can help increase awareness among potential investors that may not have been involved in cryptocurrencies prior to the talk.
Advertisements
Advertisements are a direct way of increasing visibility and may either be online, offline, or a mixture of both. Online adverts include everything that exists inherently online and nowhere else, whereas offline adverts include radio and television commercials, physical posters, signs and billboards etc.
Both online and offline advertisements have their own advantages and disadvantages, so it’s up to the organisation involved to choose the method that would best suit them.
A cryptocurrency that is intended for utilisation worldwide, for instance, may opt for more online advertisements whereas a cryptocurrency that wants to focus on a particular geographical location might want to spend more on offline advertising. There exists, no doubt, a very big overlap between the two.
Partnerships
It is common for cryptocurrency organisations that are still run by a formal managerial entity to form partnerships with other such organisations. Upon the successful formation and announcement of a partnership, both organisations would benefit from increased visibility to each other’s native communities.
Exchanges
Listing on exchanges is one way in which a cryptocurrency’s visibility can be increased within the cryptocurrency sphere. Many cryptocurrency investors stick with a few of their favourite exchanges for trading. When a “new” coin or token shows up on their exchange, some would naturally want to find out more about what it is.
In the event of a wild price swing, visibility will also increase. This is explained later.
Statistical Websites
There are many websites that list the current statistics of cryptocurrencies, giving information about price, trade volumes, circulating supply, total supply and so on. The most famous of these is none other than Coinmarketcap. Of course, when cryptocurrencies appear on these websites, they’ll naturally be more visible.
In the event of a wild price swing, visibility will also increase. This is explained below.
Wild Price Swings
This category is a bit of a special one because most of the time, unless heavy price manipulation on the part of the cryptocurrency organisation is involved, prices are determined by market forces and not by the organisation.
Both exchanges and statistical websites have their own ranking tables — biggest gainers, biggest losers, highest volume etc. Should a coin or token appear on any of these ranking tables at all, especially if they are in the top few spots, then their visibility massively increases.
Controversies
While most controversies are unintentional, some are. For instance, earlier this year, there was a CEO of a blockchain company that attempted to pull a “fake” exit scam right after his successful ICO had ended. He posted on twitter that he was leaving, and disappeared. Concerned investors even went to the company’s physical headquarters and found it abandoned. Some particularly astute investors, however, did manage to locate him within a few hours and soon afterwards, about a day later, he came back online to announce that he had only done that to make a point about how easy it was for ICOs to pull exit scams. Whether or not he was truly intending to run off with the money or not, no one would ever know. He may have only returned because he was tracked down and feared for his life.
Regardless, there’s no denying that the stunt did give his organisation a lot of free visibility — and as the saying goes, no publicity is bad publicity.
Case Studies
Cashaa (https://www.cashaa.com/)
Cashaa wishes to build a next generation banking platform, and excels at promotion through real life events thanks largely to its highly accomplished CEO — Mr Kumar Gaurav. Kumar has personally been invited to speak and debate at countless blockchain and financial events all over the world. These speeches and debates are not always focused solely on Cashaa, but regardless, Cashaa still gains visibility as Kumar represents his company every time he takes centre stage.
Stellargold (https://stellargoldcoin.com/)
Stellargold is an eco-friendly mining platform for the masses. Apart from utilising most other mainstream methods described above, it particularly gains its visibility by forming meaningful partnerships and collaborations with other organisations.
KitToken (https://kittoken.net/)
KitToken is attempting to create a self-sustaining financial ecosystem through the principles of utility, organic growth, and sharing. As with Cashaa, it also gains its visibility through real life events — both by participating in conferences and by hosting solo talks with the aim of promoting itself to the general public.
All three of these organisations have strong social media presences.
Suggested “Web Presence” Checklist for Organizations
Main Website
Google Communities
Telegram
Discord
Medium
Quora
Bitcointalk
Closing Remarks
Visibility is important, and while the main methods chosen for promotion do matter, the end goal of increasing visibility should not be forgotten.
Note: This document with all the information in it is shared here to boost our knowledge of cryptocurrency , the original document can be found in Document Source
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:P
Just wanna be sure you're not being impersonated and having your identity stolen! :P
We've had some cases of that already.
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Fortunately I have not had any impersonation issues so far. Welcome here my friend. Hope you enjoy your stay here.
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