Have you ever wondered where people get their information on cryptocurrencies? Well, there are tools that are being used in the crypto space that newcomers don’t know about. These tools are the main information sources for new currencies, and yes, many of them are social media based. We outlined three important resources for you to do your do-diligence on your next crypto investment. Here is how to learn about crypto.
Twitter is one of the best social media platforms to learn about crypto. In fact, it’s almost as if crypto Twitter is a space by itself. You’ll find an abundance of information and exchange of ideas between crypto enthusiasts. It’s a great place to start if you might be looking into alt coins but don’t know where to start. When exploring crypto on Twitter, it’s good to take everything with a grain of salt. It’s important to remember that when people talk about crypto and markets, everything is speculative. In the end – it’s all really based on opinion. So use your best judgement in how to digest the information you read. It is also important to note that may influencers are working with certain blockchain companies and are receiving incentives for proving them.
That being said there is a lot of good information out there too and there are many experts who are happy to share their knowledge and experience to newcomers. If you are new to crypto you should browse through Twitter and find your favorite influencers to follow. Just realize no one is perfect and right 100% of the time.
Telegram
Telegram is a social media platform which has many different chat rooms and groups. Almost every cryptocurrency available for purchase has their own Telegram channel. In fact, it’s so ubiquitous that it would be highly unusual for a cryptocurrency/blockchain company to not have their own Telegram channel. Most blockchain companies and cryptocurrencies have their own Telegram chat where they connect directly with their investors and share information. You can learn a lot about different companies just form looking at their Telegram chats. For example, how active are they? Do they respond to their communities questions – and if so how well? This information can help you a lot to understand if a company cares about the project they are building. It’s also a great educational opportunity.
Furthermore, it’s also a great chance to speak and interact with many experts in the blockchain field. There are many other Telegram chats and communities that are designed for blockchain and crypto discussion in general. Telegram is great for both the ability to speak with others in the crypto community. It’s also great to just scroll through the chats and read what people say. One can find gems of knowledge sometimes that can teach you some really helpful tips that you might not have come across otherwise. For example, you might find someone in a chat talking about a price analytics tool which can give you updates and alerts when there are major price movements in tokens.
It is important to note, however, that there is also alot of scam on Telegram. Make sure to follow the right cryptocurrency as there are scam accounts as well. Furthermore, it happens that you are contacted by scammers and crypto promoters. So be aware and don’t fall for any get rich schemes.
Visit company website and read whitepaper
While this is the last section of today’s article, this is not to say it’s the least important. In fact, if you really do want to learn about a company, this is the most crucial thing you can do. It might seem like a no brainer, but many people fail to do this. When looking at a companies website you should look for things like if they have their team members listed and and whether the website looks professional etc. Sometimes a company’s team will be anonymous. This isn’t necessarily a red flag, however, sometimes when a team is anonymous it will be harder to vet how serious they are. It happens too often that people will promote their cryptocurrency and suddenly one day the website is gone and your money as well. So be aware.
But just cause a company doesn’t have a high profile team doesn’t mean that they aren’t legit. In fact, sometimes if a company’s team members are too high profile, it could also be a red flag. Sometimes if celebrities or big names individuals in the professional world are a part of the company, it might actually mean the opposite of serious. Sometimes the companies that do best are the one’s who are most hungry for success. Often after people find success, you might find they work much less hard.
Another great thing to do is to read the whitepaper. A company whitepaper is similar to a business plan. It states what the company does and how much money they are raising or how much crypto currency they are issuing and to whom. This should be available on most companies website’s. You don’t necessarily have to read the whitepaper. In fact, some investors don’t read whitepapers at all. But nonetheless, there can be great information in there. And it is great way to learn about the technology behind the project.
Other ways to learn about crypto
There are various other tools you can use to learn about crypto projects. If you like to base your investments on statistics and market intel there are tools available such as Glassnode and Chainanalysis that will provide you with all sorts of data. If you are looking on more of the coin metrics, Coingecko and
Final thoughts
These are just a few ways of how to learn about a crypto currency/blockchain project. If you cover these bases though, it’s a wonderful start to learning more about the crypto industry. If you enjoyed this article you might also want to check out How to protect your crypto – 5 easy ways
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.
