Skip to main content

One of the most important crypto experts’ rules is to avoid getting influenced by others when investing and trading cryptos. Altcoins are great if you want to make money. But many altcoins are not as profitable as they seem. This is why you should know some marketing tricks people use to promote altcoins.

Using famous persons and celebrities

Well-known persons are famous driving forces of altcoins promotion. For instance, Elon Musk promotes Dogecoin. The army of Musk’s fans trusts in Doge because one of the most remarkable businessmen in the world revealed that he owns this altcoin.

It is not a new marketing trick, but it works. If you want to succeed, you should focus on the value of the altcoin instead of the person who the altcoin promotes.

Using social media influencers

Nowadays many use social media to discover, learn and communicate. Influencers command large followers who engage in different conversations. Influencers share their experiences and recommendations about investing in altcoins. Such conversations aim to make investment decisions favorable to the altcoin that an influencer promotes. Also, regular inputs drive opinions about altcoins. In this way, some of the people who are engaged in conversations are turned into interested investors.

You should avoid making investment decisions based on memes, even if those are good, do your own research instead of relying on the recommendations of social media influencers.

Using media outlets

TV talk shows, bloggers, and authors of podcasts send many invites to crypto experts, crypto business owners, and well-known crypto investors to talk about crypto. These shows, streams, and podcasts about investment and risks can make an altcoin a subject in diverse conversations. In this way, many people may know more about the altcoin than about its competitors. Using media outlets and public discussions can boost interest in any altcoin.

Again,  it would be best if you focused on the real value of altcoin to avoid mistakes.

Using an altcoin as a payment option

Some businesses can integrate an altcoin as a payment option to allow people to buy products by using this altcoin. For instance, Tesla and Space X integrated Dogecoin. This marketing trick makes people believe that altcoin can become a future currency.

Other companies can create altcoin as a payment option for their crypto projects. Now you can see many gaming coins or altcoins which gamers can use to purchase game characters, weapons, land, or other items.

Unfortunately, altcoins still are a risky investment. The high volatility of altcoins can cause you to incur losses and some gaming coins have a very uncertain future. Follow one of the best rules “Never invest money that you can't afford to lose”.

If you are a crypto beginner who wants to invest in crypto without risk, experts recommend starting with bitcoin. Bitcoin has the largest market capitalization and short-term volatility can’t change the value of bitcoin. The safest way to buy bitcoin is using the beginner-friendly cryptocurrency exchange EvBlock.

Add Reply

Cryptocurrency Hub Online Crypto and Blockchain Community
Link copied to your clipboard.