What Is Cryptocurrency?
It is defined as a virtual or digital currency secured by cryptography, making it nearly impossible for any misleader to counterfeit or double-spend the cryptocurrency.
The most defining feature of blockchains technology is that it is not issued by the central authority, which makes it immune from government interference and manipulation.
The word “cryptocurrency” was derived from the encryption techniques to secure the network. According to well-known analysts, blockchain technology will obstruct organizations’ finance and law.
Because of this, cryptocurrency faces a considerable backlash with the acquisition of getting involved in illegal activities, exchange rate volatility, and the vulnerabilities of infrastructure.
But just as every coin has two faces, cryptocurrency is also praised for its portability, divisibility, inflation resistance, and transparency.
Types of Cryptocurrency:
The foremost blockchain-based cryptocurrency was Bitcoin, remaining the most popular and most valuable. There have been thousands of alternative cryptocurrencies having various functions and specifications in recent times. Some of these are clones of Bitcoin, while others are new currencies built from scratch.
Bitcoins were launched in 2009 by ‘Satoshi Nakamoto‘ (Pseudonym).
As of November 2021, over 18.8 million bitcoins were in circulation with a total market cap of around $1.2 trillion, with the figure updating frequently. Only 21 million bitcoins will ever exist, preventing both inflation and manipulation.
Analyzing the success of Bitcoin, many cryptocurrencies spawned known as ‘altcoins.’ These included Solana, Litecoin, Ethereum, Cardano, and EOS. By November 2021, the aggregate value of all the cryptocurrencies is over $2.4 trillion—Bitcoin currently represents approximately 42% of the total value.
TOP 10 CRYPTOCURRENCY MARKETING STRATEGIES FOR BUSINESS GROWTH:
Marketing through cryptocurrency has become an essential part of many industries making it grow and prosper. There are thousands of cryptocurrency businesses in recent times, so let’s know ten cryptocurrency marketing strategies for boosting business growth.
• Leveraging Social Media:
Social media has become an essential marketing tool in the modern era. Therefore it became necessary for crypto marketing as well. These marketing teams connect with a global crypto audience and spotlight their projects. Apart from the traditional social media channels like Twitter, Facebook, Instagram, and Telegram, marketing teams are interested in using BTT and Steemit for more exposure.
• Press Releases:
An exemplary cryptocurrency press release takes an additional step on the team’s part. Still, it is always advisable to use famous news and PR services to strengthen the details of any forthcoming tickets or assignments. Several online press release websites, including some earmarked to crypto PR, permit crypto coins’ information.
• Paid Advertising:
The paid advertisement works as pay-per-click advertisements as it draws the public attention to majorly who are not part of the crypto community. After little research and identifying the appropriate keywords, it uses search engines, Facebook, and Reddit to provide its services.
• Using Airdrops:
Airdrops enable the free distribution of tokens to registered users. This extensive distribution ensures that the tickets have reached a larger audience. These are cryptocurrency promotion stunts, which lead to more accessible followers and users gains. Also, it brings liquidity to the supply of tokens. Hence, Airdrops are immensely popular.
• Email Marketing:
Email marketing is the direct marketing strategies, involving sending targeted emails, informing about the cryptocurrency, project launch, or tokens for existing and potential customers. Email marketing and databases offer much power because it helps companies reach their target audiences personally and increase sales. Updates such as Airdrops can be conveyed through these marketing strategies.
• Influencer Marketing:
Crypto marketing saw the growth of influencer marketing. The modern technique gives a considerable reach to brands through individuals or groups through social networking media.
• Using Referral Programs:
The referral programs are the highest retention and conversion rates among all the marketing channels. It’s like the audience trusting the brand used by their known beings. This word-of-mouth marketing works when companies reward their loyal customers, and new joining customers are subject to the latest exciting offers.
• Designing a Website:
An attractive web designing an online platform for potential investors is crucial before launching a crypto coin. This turns out to be imperative and let the audience quickly understand the profits of investing in cryptocurrency.
• Direct Messaging:
It is an efficient method to get the audience’s attention, as they sometimes ignore the email marketing messages. So direct messaging will let them know about future updates and launches.
• Affiliate Marketing:
Affiliate and influencer marketing has the only difference: anyone can do it on the brand rather than social media influencers. It spreads product marketing and creates responsibility across sellers, buyers, and affiliates.