Influencers are the industry’s voice, and users look to them for their knowledge and experience. They quickly became a part of the culture with the introduction of social media. Users are continually looking for leaders or voices with similar viewpoints. And the cryptocurrency space is no exception.
Because most consumers do not understand cryptocurrencies and how they work, crypto influencers have much to offer their followers. Influencers can guide them through uncertainty while also offering current knowledge.
Learning whom to trust and when something is not legitimate is essential. Influencers can help in this regard. However, remember that whatever information they provide is their own opinion, and they may be biased toward specific products.
What makes a crypto influencer?
Crypto influencers are specialists or celebrities who have accumulated many committed followers on social media for their knowledge of crypto news.
The number of users who follow an influencer might range from tens of thousands to millions.
Because of its features, crypto influencers consider Twitter one of the most important social media platforms, with a YouTube channel second. These influencers may offer their own unique opinions or retweet articles of crypto news or tweets initially posted by others. Because of this, information can be shared very quickly with others.
A YouTube channel is great for the crypto community looking for a more visual approach, as you have video and motion added.
Famous crypto influencers’ posts can impact the cryptocurrency market. Investors with little to no knowledge of crypto investments rely on influencers to point them in the right direction. Unfortunately, this can negatively affect markets as these investors follow the influencers’ personal opinions and will buy and sell based on those opinions.
How to know which crypto influencers to follow?
Followers on a social media account are a big tip-off to most, as the more followers someone has, the more they know. But this isn’t always the case. It might be challenging to discern between all of the influencers and whom you can rely on for guidance.
Influencers have their own opinions, but unbiased ones are the ones to follow. Look at what they are posting. Do they have original content? Are they forming their views and watching market trends?
With the ever-changing value of cryptocurrencies, new information is coming out daily. Influencers should be posting this information to follow that.
Who are the big players in crypto and blockchain technology?
Twitter: @VitalikButerin – 4.2 Million Followers
- Beginning in 2011, Vitalik co-founded and contributed to Bitcoin Magazine, the first significant publication on cryptocurrencies.
- In 2016, he served on the editorial board of Ledger, a peer-reviewed scholarly publication that publishes original cryptocurrency and blockchain technology articles.
- He is a co-founder and inventor of Ethereum, which is a mining network and software development platform that enables the development of new coins and applications that share a single blockchain.
- One of the more active crypto influencers.
Roger Ver “Bitcoin Jesus”
Twitter: @rogerkver – 750K Followers
- Roger was an early investor in Bitcoin, Bitcoin-related enterprises, and a prominent Bitcoin promoter.
- He was one of the five founders of the Bitcoin Foundation.
- “Bitcoin Jesus” was the CEO of Bitcoin.com until August 1, 2019, when he was reassigned to Executive Chairman.
Twitter: @cz_binance – 6.8 Million Followers
- Changpeng is the creator and CEO of Binance, which as of July 2022, had the world’s largest cryptocurrency exchange by trading volume.
- Zhao formerly worked on the Blockchain.info development team and was the Chief Technology Officer of OKCoin.
- He established the blockchain network Binance Smart Chain, which greatly assisted the development of the decentralized financial industry.
Twitter: @IOHK_Charles – 947k Followers
- Charles co-founded the blockchain engineering firm Input Output Global, Inc. and the Cardano blockchain platform.
- He joined the Ethereum team in late 2013 as one of five initial creators, along with Vitalik Buterin, and served as CEO until he departed in 2014.
- Charles co-founded IOHK (Input Output Hong Kong) in late 2014 to develop cryptocurrencies and blockchains.
Twitter: @saylor – 2.6 million Followers
- Michael co-founded MicroStrategy. The company began by producing data mining software before shifting its focus to business intelligence tools.
- In July 2020, Michael announced his intention for MicroStrategy to explore purchasing Bitcoin. The following month, MicroStrategy used $250 million to buy 21,454 Bitcoin.
Twitter: @brian_armstrong – 1 million Followers
- Brian is the CEO of cryptocurrency exchange Coinbase.
- He co-founded Coinbase in 2012 to enable cryptocurrency fanatics to trade bitcoins and other digital currencies.
- In 2018, he became the first cryptocurrency executive to join the Giving Pledge, pledging to donate most of his wealth to charitable causes.
Twitter: @BarrySilbert – 761K Followers
- In 2012, Barry became one of the industry’s earliest and most active investors in cryptocurrency.
- In 2015, he established the Digital Currency Group, one of the industry’s most productive investors, with more than 120 companies in 30 countries worldwide.
Twitter: @TimDraper – 238K Followers
- Tim founded the venture capital firm Draper Fisher Jurvetson.
- He has made investments in companies like Tesla and Theranos and cryptocurrency trading.
- In 2014, he purchased 29,656 bitcoins recovered by U.S. Marshals on the black market for $632 per coin.
Twitter: @SatoshiLite – 1 Million Followers
- Charles is well known as the creator of the Litecoin cryptocurrency. He is the Litecoin Foundation’s managing director.
- He launched Litecoin in October 2011. While working at Google, he created blockchain technology based on Bitcoin in his spare time.
- He made Litecoin available to the public after just mining 150 coins.
Andreas M. Antonopoulos
Twitter: @aantonop – 747K Followers
Youtube channel: aantonop – 320K Subscribers
- Andreas is a Bitcoin supporter, entrepreneur, and author.
- He hosts the Speaking of Bitcoin podcast and is a teaching fellow at the University of Nicosia’s M.Sc. Digital Currencies program.
- He joined Blockchain.info as the Chief Security Officer in 2014 but later quit.
- He published the first version of Mastering Bitcoin in print and online in March 2016.
Twitter: @ErikVoorhees – 600K Followers
- Erik co-founded the Bitcoin startup Coinapult and was the former CEO.
- He was Bitinstant’s Marketing Director.
- Founder and partial owner of the bitcoin gaming website Satoshi Dice.
- Founder and CEO of ShapeShift, a fast bitcoin and altcoin exchange.
Twitter: @APompliano – 1.6 Million Followers
Youtube channel: Anthony Pompliano – 422K Subscribers
- Anthony is the founder of Morgan Creek Digital Assets, a multi-strategy investment firm that provides clients with access to bitcoin and blockchain technology and digital assets.
- He is a founder and partner of a hedge firm that focuses on blockchain technology and digital assets, and he is renowned as one of the early Bitcoin enthusiasts.
John McAfee (d. 2021)
Twitter: @officialmcafee – 1.1 Million Followers
- John was appointed Chairman and CEO of MGT Capital Investment in May 2016. He began mining bitcoin and other cryptocurrencies to generate revenue for the company and expand MGT’s expertise in dealing with blockchains.
- He was appointed CEO of Luxcore, a cryptocurrency firm focused on enterprise solutions, in August 2018.
- John was notable for causing massive growth in privacy-oriented cryptocurrencies Verge, Monero, and ZCash by tweeting to his followers.
- The Securities and Exchange Commission of the United States filed a complaint on October 6, alleging that McAfee marketed specific initial coin offerings in a fraudulent cryptocurrency scheme. It claims he portrayed himself as an unbiased investor when promoting the ICOs, despite allegedly receiving $23 million in digital assets in exchange.
Twitter: @danheld – 625K Followers
- Dan is a Bitcoin lecturer and Trust Machines Marketing advisor.
- He was the Director of Growth Marketing at Kraken, the most well-known bitcoin exchange in the world.
- He has over 10 years of experience in five Bitcoin startups.
- He has become one of the most well-known Bitcoin educators.
Twitter: @bhorowitz – 635K Followers
- Ben co-founded the venture capital firm, Andreessen Horowitz.
- He previously co-founded and served as president and CEO of the enterprise software company Opsware.
- He is the author of the startup book The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers and What You Do Is Who You Are: How to Create Your Business Culture.
- Ben is a venture capitalist, author, and cryptocurrency expert. On Twitter, he discusses business, money, and technology, as well as crypto and Bitcoin issues.
Twitter: @elonmusk – 104.8 Million Followers
- Elon Musk is most recognized for his involvement in major corporations such as PayPal, SpaceX, Tesla, and Twitter; he is currently CEO of some of these companies.
- He entered the cryptocurrency business considerably later yet significantly impacted its growth and decline.
- When Elon Musk tweets, investors either purchase or sell the stock he is discussing, a phenomenon known as “The Musk Effect.” He was chastised for his apparent fondness for Bitcoin but afterward withdrew his statement, saying Bitcoin was terrible for the environment.
- In February 2021, he made a significant purchase of Bitcoin through his Tesla company which increased the value of Bitcoin by 20% in one day. The following month, he announced that Bitcoin could be used to purchase Tesla vehicles. We saw another 10% increase in a single day.
- By May 2021, he rejected his idea of allowing Bitcoin transactions for electric vehicles, and the price of Bitcoin went down by 15% that very day. This phenomenon shows that reaching out to their followers could positively or negatively affect the crypto industry.
The United States Securities and Exchange Commission
Youtube channel: U.S. Securities and Exchange Commission
- The Securities and Exchange Commission (SEC) of the United States is an independent federal government regulatory organization tasked with safeguarding investors, ensuring the fair and orderly operation of the securities markets, and enabling capital formation.
- The SEC promotes transparency and dissemination of market-related information, fair dealing, and fraud protection through established securities laws and regulations. Its electronic data-gathering, analysis, and retrieval database give investors access to registration statements, periodic financial reports, and other securities documents.
- The SEC wants to subject cryptocurrency marketplaces to all the financial regulations that the SEC controls. They want cryptocurrency exchanges to register with the SEC as securities trading platforms.
- Serious investors trust the SEC for its ability to shut down scammers and untrustworthy startups. They oversee the digital cryptocurrency market and have begun regulations on financial transactions. They affect market prices as they can inform investors of unsafe businesses.
Who is the most trusted crypto expert?
Users would typically look at the number of followers an influencer has to evaluate whether they should trust that person. What you should be looking at is the guidance that they are providing. A knowledgeable individual is going to give an opinion that is objective and comprehensive regarding cryptocurrencies in general. The experts keep an eye on the trends and report how the changes may influence investors like you. They do not gloss over reality and instead present it in its raw form.
Who better not to listen to in the world of cryptocurrencies?
A person labeled as an influencer does not automatically imply that they are a reliable source of information. People that are partial to a particular firm, or even worse, their own company, may be trying to drive up the price of their stock by driving up the cost of other companies’ stocks.
Even though cryptocurrency is a transactional currency, it is also an investment in the financial business. Do not believe anyone who claims to be able to get you rich quickly or to have all the answers for a little charge. They are only interested in making money and taking advantage of you.
How to become a crypto influencer?
Influencers in cryptocurrency must understand how the technology works and be aware of any significant news in the crypto space. To become an influencer, you must first correctly comprehend the concept of bitcoin investing. Then, select a social networking platform where you can share your unique perspectives.
The most effective influencer material is approachable and straightforward. Content should be delivered in simple words that everybody can understand. You shouldn’t need a finance degree to understand the terminology or process in the crypto space.
Constantly posting material is essential for any influencer. To create a following, you must have material that people can relate to or find interesting. You will lose followers if you wait weeks or months between posts.
Is It Legal to Share Financial Advice on Social Media?
Yes and No.
Countries and individual states have their own investing and financial regulations. Those who have received training in financial transactions and market trading may be licensed solely in their home state. As a result, it is illegal for them to provide trading advice to anyone outside of their state.
If you are making broad statements, you are safe. You can discuss public knowledge without mentioning a specific corporation, business, or fund.
Companies must ensure that any sponsored content is factual and complies with existing standards, especially when advertising investment goods; avoiding anything that could be regarded as investment or tax advice is critical.
What kind of harm can crypto scammers do?
An enormous scam created by scammers is the pump-and-dump. Scammers raise the price of investments by creating hype and spreading misinformation. They then sell their shares after the price has reached a high price point. When the value of an investment collapses, inexperienced investors are frequently left holding the bag.
Don’t believe anyone who claims you can make money quickly and easily in the cryptocurrency markets. In investment scams, crypto can serve as an investment and a payment. Investment scams frequently offer “much money” with “zero risk,” They often begin on social media or with a random text, email, or phone call.
Scammers may send you emails or letters claiming to have embarrassing or compromising images, videos, or personal information about you. Unless you pay them in cryptocurrencies, they threaten to make it public. Do not attempt it. This is criminal extortion and blackmail.
It is essential to remember that any information provided by crypto influencers should be taken with a grain of salt. Even though they are reliable people, you must never lose sight of the fact that the choice ultimately rests with you. You will be held accountable for anything that happens as a result. It is vital to exercise extreme caution about any advice made by others.
There is a limit to how much support influencers can provide. Carry out your investigation to discover what options are most suitable for you. You are responsible for how you spend this money as it is yours to spend in the first place.
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