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zarazyana · 4 days ago

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What Are the Best Strategies for Crypto Coin Marketing in 2024?

The cryptocurrency market is evolving rapidly, and with it, the ways in which coins and tokens are marketed. As the industry matures, new strategies for promoting crypto assets are emerging, driven by technological advancements, changing consumer behavior, and evolving regulatory frameworks. For any cryptocurrency project looking to stand out in the highly competitive digital space, effective marketing strategies are crucial. In 2024, crypto coin marketing has become more nuanced, with a focus on community-building, trust, and educating potential users.

In this blog, we will explore the best strategies for crypto coin marketing in 2024, highlighting innovative approaches, tools, and practices to help crypto projects gain visibility and traction in the market.

1. Building and Nurturing a Strong Community

The cornerstone of any successful cryptocurrency project is its community. Unlike traditional financial assets, cryptocurrencies thrive on the strength and engagement of their communities. In 2024, community-driven projects are seeing higher adoption rates, and their success is largely attributed to active user engagement and trust-building.

Why Community Matters

Communities provide the necessary support, feedback, and advocacy needed for crypto projects to thrive. They are not only the end-users of the cryptocurrency but also act as ambassadors, helping to spread the word and attract new users. A loyal and engaged community can contribute to the stability and growth of a coin, as members support it through social media, forums, and word-of-mouth marketing.

How to Build a Community

Active Presence on Social Media: Engage on platforms like Twitter, Telegram, Reddit, and Discord, which are central to crypto discussions. Create dedicated channels for user interaction, news, updates, and feedback.

AMA (Ask Me Anything) Sessions: Regular AMAs with the development team or project leaders can help establish transparency and trust, allowing the community to ask questions and voice concerns.

Incentivize Engagement: Offer rewards, airdrops, or special incentives to community members who actively contribute to discussions, share content, or invite new users. This can help build a sense of ownership and loyalty.

Real-World Example

Projects like Shiba Inu and ApeCoin have successfully built massive communities that fuel their success. These communities not only engage in conversations about the coin but also advocate for its usage, creating a network effect that significantly increases its visibility.

2. Influencer and KOL (Key Opinion Leader) Marketing

In 2024, influencer marketing has become a dominant strategy in the crypto industry. Collaborating with influencers who already have a dedicated following within the crypto or finance niche can boost the credibility and visibility of your coin.

The Power of Influencers in Crypto Marketing

Influencers and KOLs are seen as trusted figures by their followers, and their endorsement can have a massive impact on the success of a project. Influencers on platforms such as YouTube, Twitter, TikTok, and Instagram are able to communicate effectively with their audience and explain the value proposition of a cryptocurrency in an easily digestible way.

How to Use Influencers Effectively

Choose the Right Influencers: Select influencers who align with your project’s values and target audience. Look for crypto influencers who have a proven track record of promoting similar projects.

Create Engaging Content: Encourage influencers to produce content that educates their audience about your coin, how it works, and its benefits. Content can range from explainer videos and live streams to interviews with the development team.

Track Performance: Use analytics tools to track the performance of influencer campaigns. Metrics like engagement rates, referral traffic, and conversion rates will help measure success.

Real-World Example

Binance Coin (BNB) benefited significantly from influencer marketing, with major figures in the cryptocurrency space backing its utility and features. These endorsements helped Binance Coin grow from a lesser-known token to one of the most valuable coins in the market.

3. Search Engine Optimization (SEO) and Content Marketing

In 2024, digital content remains a powerful tool for educating potential users and driving traffic to your project’s website. SEO and content marketing help improve your online visibility, making it easier for people to find your coin when they search for relevant terms.

The Role of SEO in Crypto Marketing

SEO ensures that your website ranks highly in search engine results for keywords related to your coin, such as "buy [Coin Name]," "best altcoins to invest in," or "how to use [Coin Name]." By optimizing your content for search engines, you increase your chances of being discovered by people actively looking for cryptocurrencies.

How to Leverage SEO and Content Marketing

Keyword Research: Conduct thorough keyword research to identify the most relevant terms for your project. Tools like Google Keyword Planner and Ahrefs can help.

Publish Educational Content: Create blog posts, guides, and tutorials that answer common questions about your coin, such as "How does [Coin Name] work?" or "Why is [Coin Name] a good investment?"

Focus on Long-Tail Keywords: Long-tail keywords (e.g., "how to trade [Coin Name] on Binance") are often less competitive and can help bring targeted traffic to your website.

On-Page SEO: Optimize your site’s technical aspects, including meta tags, headers, and image alt texts, to ensure search engines can crawl and index your pages.

Real-World Example

CoinGecko and CoinMarketCap are excellent examples of platforms that leverage content marketing and SEO to rank highly in search engine results. Their blogs, market analysis, and educational resources help drive organic traffic to their sites, which, in turn, benefits the coins listed on their platforms.

4. Paid Advertising Campaigns

While organic strategies are critical, paid advertising can accelerate the marketing process by reaching a wider audience. In 2024, there are numerous advertising options available for crypto projects, ranging from Google Ads and social media platforms to crypto-specific ad networks.

Why Paid Advertising Works

Paid ads allow crypto projects to target specific demographics, interests, and behaviors. They can help promote token launches, upcoming events, or new partnerships, ensuring the right audience sees your message at the right time.

How to Use Paid Ads in Crypto Marketing

Google Ads and Display Networks: While Google has strict policies on cryptocurrency advertising, running display ads targeting crypto-related topics or finance sites can be effective for generating traffic.

Social Media Ads: Platforms like Twitter, Facebook, and LinkedIn allow you to run targeted ad campaigns for crypto projects. Be mindful of each platform’s advertising policies regarding cryptocurrency.

Crypto-Specific Ad Networks: Platforms such as Coinzilla and Bitmedia specialize in cryptocurrency ads and offer placements on crypto-related websites, increasing the likelihood of reaching your target audience.

Real-World Example

Ethereum has utilized paid advertising campaigns to promote major updates, like the Ethereum 2.0 upgrade. These campaigns were designed to inform users about the benefits of the upgrade while attracting new developers and investors.

5. Partnerships and Collaborations

Partnerships with other projects, influencers, and platforms can significantly expand your reach. By collaborating with well-established projects or integrating your coin into existing blockchain ecosystems, you can tap into new user bases and increase awareness.

The Power of Strategic Partnerships

Strategic partnerships allow you to leverage the resources and networks of established players in the crypto space. These collaborations can take many forms, including technology partnerships, co-marketing campaigns, or listing your coin on a new exchange.

How to Develop Strategic Partnerships

Identify Synergies: Look for projects with complementary goals or user bases. For example, if your coin is focused on DeFi, partnering with other DeFi protocols can help drive mutual growth.

Cross-Promote Each Other: Engage in co-branded marketing efforts, such as joint social media campaigns, webinars, or events, to showcase the partnership and generate buzz.

Blockchain Integrations: Partner with exchanges, wallets, or platforms to ensure your coin is easily accessible to users.

Real-World Example

Polkadot has forged numerous partnerships with various blockchain projects, resulting in its token being widely accepted across different platforms. These collaborations have helped increase the overall visibility and adoption of Polkadot.

6. Leverage Airdrops and Giveaways

Airdrops are a tried-and-true marketing strategy in the cryptocurrency space. They allow you to distribute free tokens to a large number of users, generating excitement and awareness around your coin.

Why Airdrops Work

Airdrops can significantly increase the circulation of your coin while encouraging user engagement. When people receive tokens, they are more likely to explore your project, learn more about its use cases, and share it with their network.

How to Run Successful Airdrops

Target the Right Audience: Offer airdrops to individuals who are most likely to be interested in your coin. This could include members of crypto communities, influencers, or users who hold tokens from similar projects.

Create Simple Participation Steps: Ensure that the steps to receive the airdrop are simple and straightforward. Complex procedures can deter potential users.

Build Buzz Before the Airdrop: Use your community channels, social media, and influencer partnerships to build excitement and anticipation before the airdrop goes live.

Real-World Example

Uniswap famously utilized an airdrop in 2020, giving away 400 UNI tokens to each wallet that had interacted with the platform. This not only drove awareness but also solidified Uniswap’s place as a dominant player in the DeFi space.

7. Regulatory Compliance and Transparency

One of the key challenges in crypto marketing is ensuring compliance with ever-changing regulations. In 2024, transparency and adherence to regulatory guidelines are essential for building long-term trust with investors and users.

Why Compliance is Crucial

Failure to comply with regulations can lead to legal repercussions, loss of reputation, or even the delisting of your coin from exchanges. Moreover, regulatory compliance is a sign of professionalism and trustworthiness in the eyes of investors.

How to Ensure Compliance

Know Your Jurisdiction: Understand the laws and regulations governing cryptocurrency in the jurisdictions where your project operates.

Be Transparent: Regularly update your community about regulatory changes and how they may impact the project.

Legal Consultation: Engage with legal professionals who specialize in cryptocurrency to ensure your marketing efforts comply with global standards.

Real-World Example

Ripple (XRP) has faced regulatory challenges with the U.S. SEC, but its ongoing efforts to ensure transparency and compliance have helped it maintain a strong user base despite legal battles.

Conclusion

In 2024, crypto coin marketing is more sophisticated than ever before. To succeed in a crowded and competitive space, cryptocurrency projects must focus on building strong communities, leveraging influencer marketing, optimizing SEO, and using paid advertising effectively. Additionally, partnerships, airdrops, and regulatory compliance are key elements that can help crypto projects stand out and build long-term success. By implementing these strategies, you can enhance your coin's visibility, drive adoption, and ultimately achieve growth in the dynamic world of cryptocurrency.

#crypto marketing

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uzidata · 5 years ago

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What if there was a single platform that were to satisfy all your researching needs, and it’s just one click away? Uzidata will revolutionize the way information is transmitted in the blockchain and cryptocurrency space. Here is a list of functions and features that we have developed ensuring that no matter what your role is in this industry, you will benefit from the innovative vision that is Uzidata.

* News Aggregator * Market Screener * Real-time Market Alert * Live Community * Data Aggregation & Analytics * Portfolio Tracker * Rewarding Guess Game * KOL Private Discussion …and much more in the works.

#crypto news #aggregator #btc #eth #bitcoin #ethereum

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mexcexchangenews · 4 years ago

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MXC Future Star Recruitment

I. What is the “MXC Future Star Plan”？ “ MXC Future Star Plan" will work with community KOLs/group leaders to jointly build the MXC ecosystem, and jointly build the influence of the MXC community, and at the same time empower the community to realize traffic monetization and accelerate the development of the blockchain industry.

II. Eligibility for Application 1.Well-known KOL in the blockchain industry, KOL in Twitter or telegram, etc. 2.Users with crypto community groups and user resources 3.Engage in legally compliant industries

III. The Rights for Being an MXC Future Star 1.Higher Referral Commission- The MXC Future Star can enjoy a higher referral commission of MXC contract, spot, leveraged ETF product trading fee rebate 2.Tiered Basic Salary-Monthly basic salary based on performance 3.Irregular Rewards-MXC premium project airdrop 4.Exclusive VIP Service-Professional one-to-one service 5.Special Souvenirs-VIP badge, T-shirt, backpack & handbag, notebooks, etc.

IV. The Responsibility for an MXC Future Star 1.Cooperate with the MXC to promote related operational activities 2.Expand new users for MXC

V. Code of Conduct 1.There should be no cheating behaviors during the business promotion process (such as repeated registration of accounts, false accounts, etc.). 2.The star shall not promise user benefits in the name of MXC. 3.The star shall not trick the user account and password to operate the account for the user. 4.The star should engage in legally compliant industries and conduct business within the scope permitted by law. If the star violates the above code of conduct, the platform has the right to immediately terminate the cooperation and has the right to punish the star. *Risk warning: this cooperation does not constitute any investment advice. Investment is risky, you need to be cautious when entering the market, please pay attention to risk control.

#crypto exchange #cryptocurrency #crypto #bitcoin

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blockpaths · 4 years ago

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AMA with Bestswap Andrew Kang, CEO and Gigi CMO: “DeFi the World”

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Blockcast.cc: Let us welcome Andrew Kang, CEO of Bestswap and Gigi, CMO of Bestswap to the Asia Blockchain Community.

Blockcast.cc: How did you get into blockchain? What is your role in Bestswap? What excites you most in Bestswap?

Andrew: I first got into blockchain through working for an ICO project related to health data. I am currently the CEO at Bestswap. The most exciting part of working with Bestswap is the potential it holds. As Defi and Decentralized exchange grow rapidly, Bestswap team has been working very hard to keep up with the DeFi trend and to improve and seeing those improvements excited me the most!

Gigi: Well, that time all friends around me always talked about BTC, at the beginning I thought its scam, later on I read the Bitcoin Whitepaper and found its very cool, thought it would probably be the way to protect our property against the devaluation of fiat. Now I am the CMO of Bestswap. The most exciting part is the teamwork, that we don’t only work hard but also came up with good strategies and business model to make Bestswap more competitive in DeFi field.

Blockcast.cc: Tell us more about Bestswap, what problems it solves? What is the difference between Bestswap and Uniswap?

Andrew: Bestswap Dex solves problems regarding to security and transparency. Bestswap reduces the risk of hacking and mismanagement.

We all know that congestion frequently happened on Ethereum, in order to solve this problem, we provide cross-chain and multi-chain solutions. Community support, our angel investor incubated 499Block which covers 200 global communities with millions of members including lots of active DeFi users as well as 2000+KOLs, this would definitely help us to be the first community-based DEX in the whole world. The whole ecosystem support, Bestswap has built rich network from Industry Funds like Roark Fund to integration of wallet like IM Token, BitKeep to 499DATA and 499 Rating Institution which help us to select qualified projects and discover trustworthy assets to invest. Bestswap’s platform token is BET

Blockcast.cc: What is your happiest and saddest moment while developing it?

Gigi: Let me answer this. The happiest part of working on Bestswap is hearing good feedback and also seeing improvement myself as we grow! The saddest part would be challenges we face due to face-paced trend of Defi, but these challenges also work as a good motivation for us!

Blockcast.cc: Tell us about the tokenomics and how individual investors like our community members can participate in and benefit from it?

Andrew: Bestswap’s swap and pool are very strongly linked to individuals. Liquidity Pool is created by participants and swap ratio also is very reliant to user participation. Bestswap already issued platform token – BET and BET liquidity provider can automatically participate yield farming, besides, there is actually 2 parts of yield that liquidity provider can get which is different from other DEX. Everybody can figure it out by providing liquidity on Bestswap.

Blockcast.cc: The blockchain and crypto market has been changing. What do you want to see in the near future for this industry?

Andrew: Some products and services currently out in blockchain and crypto market are very limited and distant. I want to see more widespread usage of cryptocurrencies where it is crucial. At first we have been converting everything into blockchain, now we are in the stage of decentralizing what is necessary such as finance. I want to see more active and wide usage of DEX

Gigi: You are right, the space keeps updating and new concept and field has been brought forward continuously, that is why it is so exciting, it enables us to learn fast and improve fast. I think it is very cool. DeFi is now a big hit and will be always the way to manage crypto assets with full autonomy. Apart from this, I have been focused on NFT for a while, I personally think it is an interesting topic as a new world of fine art. Well, it is just my own perspective.

Blockcast.cc: Will Dex Dapp like Bestswap replace the traditional exchanges?

Andrew: Currently, I don’t think DEX will replace traditional exchanges. They both serve different purposes in our crypto market. As P2P trading of centralized exchange has certain merits, liquidity pool and swap also provides other benefits to our users.

Gigi: Well I do think it is possible to say that DEX will replace the centralized finance, but it is gonna take a long time, maybe decades, who knows? But I also believe that DEX and CEX are currently complementary, both of them are able to cater the certain needs of users.

Blockcast.cc: Thanks, everyone for the participation. Special thanks to our admins: Jenny Zheng, Anndy Lian, Shuja, Apple, Khate for being here to facilitate the AMA. We wish Bestswap all the best and hope to see them in the channel real soon.

Source: https://blockcast.cc/interviews/ama-with-bestswap-andrew-kang-ceo-and-gigi-cmo-defi-the-world/

The post AMA with Bestswap Andrew Kang, CEO and Gigi CMO: “DeFi the World” appeared first on BLOCKPATHS.

source https://blockpaths.com/commentaries/ama-with-bestswap-andrew-kang-ceo-and-gigi-cmo-defi-the-world/

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uclexhibitionproject2016 · 4 years ago

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In the wish contract circle, my single teacher can be an actor

"Hello, I'm the customer services of the electronic currency exchange. Are you still creating a agreement? I invite you to become listed on the group to understand." If you are a participant within the crypto market, you'll want received a call like this. The old leeks, who've been beaten many times, mostly elect to ignore and hang up the phone straight; the ignorant Xiaobai may tentatively ask "Do you want to cost", "What are the benefits"... Right after detecting that another party's tone is loose, the customer service will promptly get rid of temptation: "Totally free. Follow the instructor in the team to create an order, and you'll make money." Will such a good thing eventually you? Of course it is impossible.

When you remove your family assets and contain the dream of ten or a hundred moments the money, the moment you recharge it towards the exchange, it is very likely the fact that script continues to be written and your money has fallen into other's pockets. I have no idea. Within the next big show, the "patient" customer support as well as the "smart" teacher with a single appeared on phase. Within the Huanhuan Regimen, you unknowingly cooperated making use of their efficiency, lost all your wealth, and only sighed that you were not lucky. Nowadays, the investing of digital currency contracts is within the cusp. Behind the temptation of huge income are huge risks and huge possible profits. Compared with the past roll-outs, today's copycat exchanges have long been "smart". They have set up levels of traps, and only wait for users to step in by themselves. In this specific article, through personal investigations, interviews with the victims and insiders of the copycat exchanges, we will try our better to shed light on the gray industrial string that's uncommon within the contract trading market today. Join the team to be cut: The personal privacy of "leeks" is only worth a dime. The agreement Xiaobai enters the documentary team. There are generally two ways: one would be to passively get a call and "invite" you to definitely enter the documentary team; the other would be to actively join " The market analysis band of "community KOL" followed by making orders. In fact, two ways may lead to the end of "cannibalism without spitting away bones". Let's talk about the initial one first. Invite you to become listed on the team "customer support", usually claiming to be a employee of some well-known businesses or three major exchanges, to improve user trust. During the unannounced check out, the reporter encountered a customer services posing being an swap under Ping An of China.

(Pretending to end up being an exchange under Ping An of China)

However, right after entering the team, you will find that these exchanges are available dog meat and also have nothing to do with well-known manufacturers. They are little exchanges with small known names. The community the fact that reporter entered was pretending to function as Huobi Exchange, and after entering the group, it was found that the administrator originated from the Lemonex, which had already run off before, and was suspected of resurgence and continued to cheat. At this point, you may have questions: Just how do the "customer support" of these small exchanges know your contact number and accurately know that you are watching digital currency? The answer is gray industry information trading. These counterfeit exchanges obtain users by buying mobile phone figures that have been signed up in other electronic currency exchanges and encryption-related programs. Are you aware that data providers, they are some insiders of exchanges who've shut down or try to escape. "For 30,000 calls, 3,000 yuan, which is very cheap. Because our info is very accurate and the conversion rate is very high." A certain gray product info seller told a mobile phone message only price a dime, and repeatedly emphasized it. The info is very accurate. After that, the exchange hired a part-time job as customer support to make calls and invite users to become listed on the team. "Successfully invite an individual, give 5 yuan. In the event that you depart the group, it won't count as salary." The part-time customer support told, that he would create thousands of calls every day, as well as the conversion rate had been about 0.2% to 0.3%.

(Part-timers will only get a mobile phone book without info)

It is worth noting that such exchanges are basically based on contract transactions. When the customer support asks you whether you're in or intends to conduct a contract transaction, if you get a negative answer, you will no longer "entangle"; if you get a good answer, you will try to invite users in to the community and officially announce that users have entered the tiny exchange "Pending Listing". And your data personal privacy is only worth a dime. In the event that you get the bait, congratulations, you are worthy of five dollars. Reaping step-by-step: How do you obtain routine? Becoming a member of the group may be the first rung on the ladder, and the next thing is naturally to guide users to recharge transactions, and you can find endless group of routines here. 1. Recharge to enter the real group At first, the customer service claimed the fact that trading team would provide investing strategies for free, but of course this isn't the case. After the user gets into the group, the exchange staff within the group will immediately add the user as a friend and encourage the user to recharge within the exchange. Later, the employees of the swap will hint you to definitely recharge to get faster and much better trading assistance. "You are in only the lowest level of the community, and the technique update of the instructor with a single may possibly not be timely. You need to recharge to enter our actual group." In fact, within this junior team, you're basically surrounded by a large numbers of part-time customer support, they will continue steadily to send out some "good current information to make money" to attract attention.

To be able to raise the attractiveness of the real offer team to retail investors, the staff will share the strategy of taking a single teacher in the real offer group as well as screenshots of other users' earnings. ¨You have previously made money by following teacher.〃 Under such stimulus, many store investors began to recharge towards the exchange. If the recharge amount is low, the exchange personnel will continue steadily to entice users to recharge even more money to enter the higher-level VIP community. "For VIP users, the teacher will provide one-to-one assistance, and the point strategy will be better than other groups. Far better." Some users may take a wait-and-see attitude. If indeed they don't recharge immediately, the staff will need changes bombing and send out screenshots of massive profits. "There are also some "stubborn" diehards who never recharge, and lastly just quit and kick them off. "An swap insider X revealed. The reporter tried to produce a little recharge and delivered the PS into a huge recharge picture towards the exchange customer support so that they can enter the VIP firm offer community. The magic can be that there surely is no account information or UID within the screenshot, however the customer service nevertheless discovered the reporter's actual recharge amount and kicked the reporter from the group. This may only mean that they are monitoring the background in real time, and they know everything about your operations, and even whether the money has actually entered the trading platform or has entered the team's pockets is unknown. Furthermore, the reporter found during investigation that exchanges such as for example BThot and LemonEx must complete the invitation code (mainstream exchanges are optionally available) to register.

¨It's a bit similar to CX, where people can be found in one-on-one, so it is difficult to understand the internal investing situation of the swap from the exterior.〃 X explained that such an swap was not available to all traders right from the start. You can call it "eliminating pig dish." " 2. The real team may be the "bottomless pit" When users enter the real market group, they may think that the amount of money in their storage compartments is about ten times a hundred times, however in fact, at the moment of recharging, your money may have already entered the storage compartments of the counterfeit swap team. Another big show is merely to make You are convinced. (1) The single teacher who was "myth" To be able to allow contract users to put your trust in the teacher with the order, following point operation, they will generally elect to bundle it because the unfavorable "transaction god". Nevertheless, the so-called purchase instructors in these areas are actually just ordinary staff of the exchange. A typical routine would be to expose the speed of return. The survey discovered that, whether it is on Weibo or in the community, most of the instructors with a single report are just the speed of return, not really the quantity of income, as shown below:

(Screenshot of earnings posted by a instructor with a single)

With 100 times leverage, a 230% gain can in fact be realized as long as Bitcoin fluctuates by 2.3%. Educators with orders usually open lengthy and short purchases at exactly the same time, as long as they take a screenshot of the profit. The key reason why I dare not really disclose the actual amount of earnings is because the position is actually really small. "Use a couple of tens of bucks to open up a leverage of 100 moments and show the speed of return. You can also become a instructor with a single." X explained the fact that so-called instructor with a single is often a demonstration effect. The so-called "teachers with orders" of these counterfeit exchanges won't register on websites that need to access the exchange API and screen real transaction information such as for example Coin and Contract Emperor, rather than show the real income amount. The so-called great god is deliberately intended to fool Xiaobai users. "The instructors with orders are from the swap, and the swap also has strategies to make you money. Do you think we are carrying out charity?" (2) "Scam" under high leverage The survey discovered that the average consumer leverage of these contract exchanges with a single community connection essentially exceeds 20 moments, and it is rare to see significantly less than 10 times. "I usually make use of 20 moments leverage, and basically 50 moments and 100 moments leverage within the team." Lao Li, who played the agreement for the first time, certainly had no sense of risk control. He missed the problem until he dropped. "In fact, the team is There had been plenty of procrastination, top everyone to play with high leverage. The instructor with the single did not remind him at first, and then everyone began to complain when they dropped money and stated they should focus on risk control." In fact, the ** exchange where Lao Li is located can still select a lower leverage several of significantly less than 10 times, and some exchanges deliberately fixed high leverage, and users cannot select whatsoever. For example: BThot can only just open a full position and open up 50 With leverage of 100 moments and 100 moments, Starqueen can only just open 100 moments leverage for full positions; LemonEx can only just open 50 moments, 100 moments and 150 moments leverage for whole positions, as shown below:

(BThot leverage several)

(Starqueen leverage)

(LemonEx leverage)

The full position is 100 times, meaning if a 100% position is opened and the market drops by 1%, the entire position will be liquidated. "The higher the open several, the higher the return." To be able to persuade reporters to recharge money, a staff person in an exchange stated, "It really is impossible to be risk-free, but as long as you control it well, you can set stop profit and stop reduction." It is real the fact that take profit price and stop reduction price may also be mentioned within the strategy of the teacher with the order, but it is just not easy to end profit and stop loss inside actual operation.

Many little exchanges have no plan to commission, stop profit and stop loss functions whatsoever, users can only just watch the market manually. Nevertheless, under high leverage, it is easy to find pending purchases manually, and their depth is poor. Despite having stop-profit and stop-loss functions, they often fail, and liquidation will be inevitable. Weibo consumer "@ae1000и璶ぱ" broke the news the fact that entrusted pending purchase within the *** exchange is definitely invalid.

(Pending purchase is invalid and liquidation)

"Among my purchases before, originally create a take-profit, and could earn 1,000-2,000 USDT. As a result, at dawn, the take-profit had been actually withdrawn. The swap said that I did so it myself, and I've no evidence they achieved it. Yes, I could just admit my bad luck, and finally end the loss and close the position." Lao Li stated that he experienced a similar experience on Bitget, "Sometimes the stop reduction is set, but there is no transaction. The swap says that the market fluctuates sharply, so Slippage." This matter can't be verified. In the end, the contract beginner Lao Li dropped 6000 USDT in a month. "In the event that you lose money, you'll be deemed to have compensated the tuition. The swap is actually really realistic. In the event that you lose cash, he (the instructor with a single) will ignore you." (3) I did so not consult with you Why these unnamed copycat exchanges just have high leverage? One would be to obtain high deal fees. Assuming that the agreement charge can be 0.2% and the user opens 100 moments leverage, the total charge for starting and closing a posture is 0.2%*100*2=40%. In other words, even if the user closes the position at the starting price, it'll lose 40%, as well as the exchange won't lose money. Furthermore, these counterfeit exchanges likewise have restrictions on starting positions. Users can trade at the very least 100 USDT or more for one lot; while Binance along with other popular exchanges have a minimum contract of significantly less than 1 USDT.

(LemonEx needs 116 USD per lot)

The increase in the value of the position will not only bring a generous fee for that copycat exchange, however the teacher with the order may also get a higher rebate return and earn big money. For this reason, the order teacher will frequently give users points and permit users frequently business short-term orders. Following a several rounds, the user's principal was eroded by the handling fee. The second is to swallow the user's principal. Insider X of the swap told, that some little exchanges don't have market makers, that's, exchanges and users become counterparties, and users earn a reduction for the swap, and vice versa. Consequently, the swap will find methods to create users lose cash. The strategy adopted is high leverage + frequent trading instead of direct "pin". "The pin is definitely too obvious and it will directly scare users away. However, users generally think that they are unlucky and it is difficult to defend their rights." "Xiaobai users are usually studs. Even if you make a profit this time, as long as you don't depart the market and lose as soon as, you will lose all money. Even without stud, powered by high leverage, the remaining positions are not safe. In accordance with Kelly's formula, even though a couple of profit comes out, most people nevertheless lose money, however the exchange all together still makes money.〃 Another swap insider Y stated. (Notice: The Kelly formula is a betting strategy that maximizes the long-term growth rate of principal in an impartial repeated betting game where the expected net income is definitely positive. If the agreement can be analogous to gaming, the overall retail investor's capital ratio in agreement transactions, It'll far exceed the reasonable worth of Kelly's method by 20%. As time increases, the probability of users losing profits increase.) Furthermore, the exchange will also allow users to create the end profit and stop loss of the contract in the community, and send their own orders towards the team, suspected to calculate the profit and loss ratio and implement fixed-point blasting. At exactly the same time, the exchange order community furthermore stipulates: It really is forbidden to add friends privately, and you can find rewards for reporting. In fact, that is also to maximize the creation of the "casino" atmosphere, producing each victim an "information island", struggling to exchange information, thereby interfering with the user's capability to judge. Whenever a consumer loses money, the exchange personnel will persuade the user to recharge again, "trying to regain the next time." (4) Little exchanges "tempted" KOLs to jointly trim leek As mentioned in the last article, there's another way to duplicate orders. Users actively join the market analysis band of community KOLs. These KOLs are not arranged by the exchange. They are doing have certain investing capabilities, but this might also evolve into cutting leeks. . Some agreement exchanges will see some well-known KOLs or active community team owners within the currency circle to cooperate, as well as the latter will bring visitors to the swap, and the swap gives them advertising fees or transaction fee cashback (up to 40%) . There is absolutely no problem with this operation itself. It really is normal advertising and visitors monetization, and major exchanges will normally use this to obtain customers. However, there's also quite a few little-known little contract exchanges that want to pool the amount of money of store investors with experts. Analyst Kang Kang experienced encountered this occurrence before, and another party directly suggested that a specific portion of "customer loss" could be directed at him. You think these small exchanges need to earn earnings, but they have previously targeted your principal. "If you are an analyst, it will be difficult to monetize visitors in the future. Only when you cooperate with us can you create big money." A certain exchange offered a disorder, "We will not insert fine needles, and you'll not hurt people." For the intended purpose of "protecting users", Kangkang certainly refused the temptation. Nevertheless, it is conceivable that such an example may also be seen in other media and experts. Whether everyone resisted the temptation, we have no idea. Restricted from causing the market: If you don't want to go under a set of combination punches of the swap, most store investors can naturally find it difficult to parry, and obediently turn in their principal. However, there's also several lucky users who might just bet about the right path with a hundred times leverage, made money, and so are prepared to withdraw them all and leave the market. Will these phony exchanges forget about "lucky you"? wish. Just because the consumer eagerly wanted to withdraw coins, they encountered layers of barriers set by the swap. First of all, users need to perform KYC authentication for withdrawals. KYC will be normal, however the problem can be that some exchanges (such as for example BTHot) users must complete the three-level identity confirmation to withdraw cash, as the three major exchanges only need to complete the first-level identity verification. Most of all, it takes less than one day before and after Level 3 certification, and it will take much longer to withdraw cash (the coin can't be withdrawn within 24 hours after Starqueen certification), which significantly hinders the use of funds for users.

After waiting for 2 days, I passed the certification, and many unreasonable rules were set in the subsequent withdrawals. For example, the lower control of BTC, USDT, and ETH within the BThot swap is 200, which is much higher than the standard of popular exchanges, as shown below:

Over-the-counter transactions also blocked exports, with at the least 500 USDT. Assuming that the user just has $100 left, unless he debris the coin again, he can just make the swap cheaper. The query is, after seeing these unreasonable rules, do you dare to deposit coins again? Many users will elect to spend money to buy a lesson, overlook it. Various other exchanges have made up their minds within the withdrawal fees. The CEO exchange's pre-exchange currency fee can be 0.2%, that's, 2 fees are usually charged for withdrawing 1000 ETH, and then the fixed fee is reduced to 0.01 ETH; the charge for withdrawing cash within the Starqueen cellular APP will be ridiculously high, from 10 It varies from% to 20%.

Of course, even if you can pass the many obstacles in front of you and insist upon withdrawing coins, the swap even now hides a trick: to block the account. Weibo consumer "@Aofex swap may eat people without spitting scum" broke the news that his account was blocked by the swap after creating a profit of more than 60,000 yuan inside options trading within the Aofex swap. The official explanation is: operating the market triggers risk control.

We can not verify the truth. However, it isn't unusual for exchanges to suspend balances within the crypto market. According to Stop Rhythm information, ZB exchange in addition has suspended user balances before, as well as the account once traded a certain token with plenty of profit. Overall, the group of confusing behaviors of these little exchanges all indicate one conclusion: retail traders only need to lose money, they are prohibited to win, and they don't desire to leave without losing profits. Summary With the growth of the encryption market as well as the influx of incremental users, criminals will attempt to get a share of the pie through numerous means. Some counterfeit exchanges have decided on the idea of ??"cutting a wave and leaving behind the market" since their birth. But set alongside the previous roll-out, the scams and programs are undoubtedly much deeper. They are similar to leeches clinging to traders to suck blood, and ignorant traders will be drained before they react. Some spectators could have thoughts of ¨someone will be fooled such as this, I'm not that stupid〃, however in truth, being inside it, with the dream of making money, is very apt to be attracted by layers of routines, and eventually be overwhelmed. Once the reporter been to the unreliable music group list community unannounced, he halted a few traders who were preparing to recharge. Therefore, traders must keep their eyes open and trade cautiously. If indeed they want to business contracts, they need to choose professional agreement trading platforms such as for example OKEx, Binance, Huobi, BitMEX and Bybit to open up orders, while managing positions, managing leverage, and switching. Do not believe in "Educators with Singles". In addition, if your community analyst fits the following features, you ought to be more vigilant.

* Designated users go to an unidentified exchange to register and place purchases. This exchange just has ultra-high leverage, high thresholds for deposit and withdrawal, and high managing fees;

* Show a high rate of return, but dare not really provide real benefits from platforms such as for example Coin;

* Frequently give points for users to open purchases and ask users to supply him making use of their positions. Finally, I want to say that investors are anticipated to invest rationally. Those functions that look too beautiful are often scams. When it is time to cooperate using them, I really hope you can elect to ignore it.

#7bit casino #888tron #999dice #best dice #betchain

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cryptoveins · 5 years ago

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Bybit CEO talks challenges of building a derivatives exchange and why Singapore is the blockchain hub of Southeast Asia

CryptoSlate recently had the chance to interview Ben Zhou, the CEO and co-founder of Bybit, a crypto derivates exchange platform located in Singapore. In the interview, Ben shares how he got started in crypto, what led him to start Bybit and his crypto predictions for 2020 and beyond.

What is your professional background and how/when did you get into crypto?

Ben Zhou (BZ): I ran a forex brokerage for eight years before founding Bybit. My time there helped me develop a deeper insight into what traders expect from a trading platform. It was sometime in mid-2016, that I really started to take a keen interest in the budding and vibrant crypto scene. It was the limitless potential of the technology and the numerous possibilities for development and growth within the crypto space that truly caught my attention.

It was an industry in its relative infancy, that could potentially revolutionize how we distribute data, trade and transact in a way that was previously not thought possible. I actively read up and educated myself on blockchain and cryptocurrency. Eventually, I got so into it, that I even started a YouTube channel! I was a relatively small-time KOL with a following of about 20K, focusing on project analysis to bridge the knowledge gap between the Asian and Western markets, before starting Bybit in early 2018.

Tell us about why you decided to start Bybit?

BZ: Bybit’s genesis stemmed from how I perceived the crypto space in 2016/2017 — an intriguing, fast-growing scene, with boundless potential and possibilities! However, I did observe many glaring inefficiencies in the way crypto exchanges operate. Honestly, I saw so many gaps in the market and truly felt that traders deserved better than what they were getting at the time.

When my co-founders and I started Bybit in early 2018, our mission was to develop a streamlined trading environment for all traders whilst ensuring an overall better trading experience. The first problem I wanted to tackle was order execution or matching as there were far too many order rejections or overloads. When these exist, the clients’ basic trading needs are not fulfilled. We made it our priority to ensure that we had 99.99% platform availability and no overloads.

Secondly, I found that most exchanges were perceived as cold and almost robotic in their eventual responses if any. Traders rarely got to connect with or interact with the people behind the exchange. They rarely got the human interactions that are the foundation of building relationships and trust. Coming from the forex industry, I knew all too well that clients were always the top priority. I wanted to make an exchange where clients could reach our customer support at any time of the day, 24/7-365. I also wanted our users to be able to reach out to me directly on Twitter or Telegram at any time to chat or even provide valued feedback.

Where is your team located and why did you choose that jurisdiction?

BZ: We are headquartered in Singapore, now known popularly as the blockchain and crypto hub of Southeast Asia, with tech developers in China and local teams in Taiwan and the Philippines. Singapore is consistently ranked as the world’s best place to do business and it has witnessed a massive growth in the number of businesses using Blockchain technology and cryptocurrencies. It also helps that Singaporean authorities encourage innovation and are open to discussions on key industry issues by industry experts. I like that Singapore is well ahead of the game in contrast to other regulatory authorities globally and willing to embrace this new industry and technology.

What are some of Bybit’s notable achievements or milestones?

BZ: Bybit’s biggest accomplishment is first and foremost our team, the heartbeat of our operation. We are blessed with an internationally diverse team that is highly adaptable and is constantly improving. Our amazing company culture is such all of our employees treat Bybit like their own and vice-versa.

Another notable achievement was when our trading volume hit 1 billion and 2 billion USD on consecutive days in late June 2019 after being in operation as a platform for just over six months. And in September 2019, we hit the 4 billion trading volume mark in 24 hours.

What are the benefits of using Bybit as opposed to other derivatives trading platforms?

BZ: In the current ecosystem, I believe we have many players but the standards have not yet been set. Traders overall are not getting the best trading experience compared to traditional markets. Our goal is to raise and set the industry standard for the best execution, most responsive customer support, and a simply great overall trading experience.

What makes us stand out from our competitors in the current market is our iron resolve to stand by our principle of putting the trader first and providing a trusted platform to suit their needs. As I mentioned earlier, the constant overloads on exchanges are definitely not ideal when you want to make a quick trade especially considering how volatile the crypto markets are. That is why we made it a priority from the get-go to equip our platform with the capability of handling 100,000 TPS, with a match taking just 10 microseconds.

Secondly, we provide unparalleled 24/7 live customer service in four languages, which is another thing that our competitors do not provide. Feedback of our traders is valued and helps us tremendously in improving the trading experience on our platform and implementing new features.

A recent example of a feature introduced based on feedback would be “Coin Swap”, which allows our traders to convert supported cryptocurrencies on our platform seamlessly – for example BTC to ETH – all with just a few clicks. This allows our traders to take advantage if there are any quick price changes in the market, or to stock up on another cryptocurrency if they wish.

What can you tell us about the Bybit product roadmap? What upcoming features are you most excited about rolling out?

BZ: Our much anticipated Bybit app is currently being tested by a specially selected pool of our users and the official release is expected to be announced very soon. We will also be offering a stablecoin solution as well as linear contract settlements within the stablecoin. This is yet another feature that our traders have been requesting for quite frequently, and it’s something our developers have been hard at work on for the past few months.

We have a host of other new features in the pipeline that I won’t go into too much detail about, but our users can expect features such as portfolio margin, hedging of positions, a host of educational content and even a trollbox for traders to chat with each other on our platform.

We also have the Bybit Games – BTC Brawl 2019, a very exciting global team trading competition that will be kicking off really soon. We threw a launch party recently in Las Vegas that was a knockout success and I can’t wait to see what happens once the competition begins. Be sure to look out for details and updates on our social media channels!

What are the biggest challenges of building a crypto derivatives trading platform for crypto users?

BZ: In light of the unfortunate trend of exchange hacking that shrouded the industry in 2018, I feel that trust has become the biggest issue that trading platforms face. Traders have trust issues due to either fund safety issues or conflicts of interest with the exchange they trade on. As with anything unregulated, we know that it is a huge challenge to earn the trust of our clients if we are not transparent and accessible to our clients all the time.

Another notable challenge for Bybit or any other exchange is the unpredictability and volatility of the crypto industry. That is why we spend a huge amount of resources on building up our platform with the necessary security features whilst remaining reliable and free of overloads in times of a sudden market crash or boom.

What other projects and/or blockchain developments are you most excited about?

BZ: I am really excited about the prospect of major financial institutions releasing their own crypto wallets. It may happen overnight, but I see JP Morgan’s recent announcement of their very own e-wallet that integrates their services into the digital commerce world, as a huge step in the right direction. This is especially so since their eventual goal is to make the service readily accessible to retail users. This means that cryptocurrencies could possibly be included in the future. Such a development would be a major game-changer as other major banks are bound to follow suit and launch their own version of such e-wallets. Having major banks develop blockchain-based e-wallets would really help ease the trust issues that mainstream adopters have with our industry.

Do you have any blockchain and/or crypto predictions for 2020 and beyond?

BZ: The blockchain and crypto markets are very closely interlinked and with the growing acceptance from both the regulatory bodies and the masses, I foresee both getting bigger and bigger in the not-too-distant future. Blockchain technology has affected my life in a way I never predicted, especially with the rapid growth of Bybit. Some might not see or realize it yet, but it’s positively affecting all our lives. The widespread application of blockchain technology has led to improved development and advancement across industries ranging from energy, financial services, and healthcare.

This trend shows no sign of slowing down and I am certain it will only accelerate in the next few years. As always, crypto remains a highly competitive market. I enjoy the constant competition as it reminds us to never rest on our laurels. However, we do not want to get too wrapped up in competing that we lose sight of our own goals. As Edward de Bono once said:

“Companies that solely focus on competition will die. Those that focus on value creation will thrive.”

What are the biggest obstacles for the mainstream adoption of crypto?

BZ: I feel that the regulatory uncertainties and market volatility are two of the biggest obstacles that are hindering mainstream adoption. A significant number of large financial institutions are still wary with some even lobbying against digital currencies as they remain firm believers in traditional fiat currencies that are regulated. We still have governments clamping down on exchanges and ICO projects which hinders progression and instills further doubt and uncertainty among the masses. I believe that blockchain/crypto firms should collaborate to educate and inform the masses about the benefits and infinite possibilities of cryptocurrency.

Disclosure: Bybit is an advertiser on CryptoSlate but this is not a sponsored story.

The post Bybit CEO talks challenges of building a derivatives exchange and why Singapore is the blockchain hub of Southeast Asia appeared first on CryptoSlate.

https://cryptoveins.com/bybit-ceo-talks-challenges-of-building-a-derivatives-exchange-and-why-singapore-is-the-blockchain-hub-of-southeast-asia/

#Finance #business #contract #firm

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greggory--lee · 7 years ago

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NEO AMA Recap and Analysis

This past Thursday, NEO Founders DA Hongfei and Erik Zhang opened the floor on Reddit for an AMA. This article will serve to recap the questions that were answered on the newly rebranded NEO subreddit (formerly known as Antshares). The new sub has generated considerable buzz this week, even being listed as a trending forum earlier this week.

The NEO subreddit trended on Tuesday of this past week.

Legend

D = DA Hongfei,

NEO Founder, Founder and CEO of Onchain, Key Opinion Leader (KOL) to chinese Blockchain industry

E = Erik Zhang

NEO Founder and core developer, Founder and CTO of Onchain, author of the DBFT consensus mechanism

Can you give us an idea about the size of the China based development team?

D: There are about half a dozen full-time developers here in Shanghai, among them two are core developers. We don’t need tens of people doing protocol level development. Other than that, there are a few dozens more contributing code and ideas as community members, some of them are Onchain DNA developers. Besides we have a few academic researchers serving as technical advisors. By saying Core developer, we mean who has commit permission on GitHub. Bitcoin has 15 core developers as of today.

Do you have a roadmap for future developments?

E: We’ve already finished the features such as digital asset, digital identity, smart contract, complier and dev pack for C# /VB.NET/F#/Java/Kotlin. And in the end of 2017, we gonna finish the yellowpaper and incubat more project of DApp and then we will improve the implementation of smart contract development by Java/Kotlin. At the beginning of 2018, NeoX, NeoFS, NeoQs are our most important works.

Please clarify the rumors regarding NEO’s affiliations with companies like Alibaba and Microsoft. There is much speculation but little in the way of hard facts, can you please expand upon these? (note: much has been made of rumors regarding NEO’s relationship with titan companies such as Microsoft and Alibaba (the number one e-commerce retailer in Asia, in plain, “The Amazon and E-Bay of Asia” some would say). NEO’s June 22nd conference a little over a month ago was held at the Microsoft Beijing office.)

D: There is no direct cooperation between Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the first in the world to support writing smart contract with C#.

Can you give us any indication on how big and where the Chinese NEO community is?

D: There are a dozen of dedicated QQ/WeChat groups and a couple of BBS/forum boards. Personally, I have over 5000 followers on Weibo, the Chinese twitter. I’ll say that there are tens of thousands of people who are loosely the NEO community members. I can share you two pictures taken early this month on a NEO technical meeting. http://imgur.com/a/CWpzthttp://imgur.com/a/ciE9t

Hi. Are you actively working towards getting NEO listed on other exchanges? Increasing the number of exchanges NEO is listed on will improve its visibility, exposure and price potential. Getting NEO listed on Japanese, Korean, European and American exchanges such as:

Kraken Bitfinex Poloniex Huobi Okcoin Bithumb Btce

And many more will help to improve your prospect.

D: At this moment, we are actively working on the network upgrade. We definitely would like to see NEO being listed on more exchanges, especially the one caters different countries. It is up to the exchanges but we plan to reach out to them in the future. As a teaser, Erik and I are travelling to Japan in August.

Hi guys. Any upcoming partnerships we don’t know about yet?

I’m interested to hear what businesses are interested in utilizing the NEO network and its smart contracts.

D: There are no new partnerships to announce yet. But we do see dramatically increasing interests of building dApps on NEO and/or using the NeoContract system. We’ll announce a Seed Project to encourage developers to build dApps and third-party apps around NEO. There are also dApps on other blockchain planning to port to NEO. I believe we will see plenty of dApps/projects built around NEO in the 2nd half of 2017.

How will NEO/OnChain prevent new ICO’s with bad intentions/scams on their platform? Will they check the ICO’s thoroughly? Since ICO’s with bad intentions reflects on the whole NEO as a supporting platform.

D: How to regulate ICO is a hot topic in the Chinese blockchain industry and community. The head of Digital Currency Institute at PBOC (central bank) recently published an article on ICO regulations. He said the regulating authority should rather be the gatekeeper than scavenger. Pre-screening or licensing may huddle innovation, so the regulators should pay close attention to those ICOs but only step in when needed. We think this standpoint is well balanced between flexibility and legitimacy. If any ICO project looks like a Ponzi scheme or scam, we will warn the public and regulators may step in.

China is working on their very own Cryptocurrency. What does/can this mean for NEO?

D: That means digital currency and blockchain/DLT are regarded as neutral technologies that can be utilized to speed up the adoption of Chinese Yuan as an international currency. Therefore, financial institutions will invest in blockchain/DLT which benefits NEO in return. Our team was asked to do training sections for banks and insurance companies for many times in the past.

Both: What are you most excited about in regards to NEO and Onchain in the next 24 months?

Da: Will having Onchain as a parent company cause NEO to be under-prioritised due to the business’ other projects or is it an advantage? Why/why not? (note: buzz in the NEO community about rumors of Onchain being the so-called parent company of NEO has been received with both positive and negative reviews).

D: NEO is a community project. Onchain doesn’t own NEO.

NEO and Onchain are separate entities. NEO is a community driven/funded open-source project, while Onchain is a VC-backed company. The connections are:

(1) Two of the five co-founders of Onchain are also founders of NEO

(2) The consortium version of NEO, namely DNA, shares the same architect and smart contract system with NEO

(3) With NeoX, the cross-chain protocol, we are exploring the possibility of integrating permissionless blockchain (NEO) with permissioned ones (DNA).

I saw that NEO has a lot of development plans, namely: (note: he went on to list 31 plans in development)

My questions:

1) What changes will take place in regards to the size of the team of developers, if any, to make all these plans a reality?

2) When do you expect each of these development plans to be completed?

Nowadays we have hundreds of community developers. In the near future, more and more developers will be involved. So I don’t think it’s a problem.

The core developers will focus on the kernel development. These plans will be finish in 2018. The community developers will focus on the applications such as wallets and blockchain explorers etc. And these applications are becoming abundant day and day so that there is no finishing point.

QTUM has a focus on mobile development and deployment, how does NEO plan to address this market?

D: Blockchain is so young and evolving so fast. At NEO, we don’t think user experience or convenience alone makes up a legitimate competitive advantage at this stage. The early adopter of NEO will be developers and/or the people who believe blockchain technology can change the world. The NEO team will focus on protocol level development and I’ve heard that CoZ and other community developers are working on mobile and mac clients. We will support those efforts to enhance user experience.

E: The essential of mobile development and deployment is light-wallet which is running on something like smart cellphones and this is easy job. Each project of blockchain can do it. I don’t think there is any difficulty.

Is there any scope for a marketing professional to be added to the existing NEO team? I understand the focus is currently on technical development however one could argue the image and content management of NEO could be much improved and is equally as important. Thanks! (note: one of the consistent complaints from western supporters of NEO has been their perceived lack of focus in their marketing approach, specifically in regards to materials in English)

D: Yes. Currently there are a handful of English speaking community members helping us with marketing and materials.

Boxmining (note: a popular Youtube crypto content creator..be on the lookout for this interview. We will post it as soon as it drops on crypto~news.net): I’m in Shanghai and I would love to interview you guys regarding the coin. I have a youtube channel of 31k subscribers who really want to know more about neo. Is it possible to arrange a visit?

E: Sure

What is your main development platform?…

E: https://github.com/neo-project

This may be a difficult question, but I imagine that many of us are wondering: For those of us who are not Chinese citizens, how do you envision the regulation of the Chinese government on cryptocurrencies such as NEO will affect us? How will we be able to operate within our international spaces in ways that help us create a viable product, while still respecting the expectations and directions of the Chinese government?

D: I don’t think it is what we should worry. NEO has digital identity module built in. Everything we do we make sure it is compliant.

In addition, NEO is becoming one of the most internationally known open-source project originated from China. I think the government will love what we did. Besides, Onchain had been providing consulting service for several local governments to use blockchain in society management.

Regarding what is happening right now with BTC/BCC, how is NEO fork-resistant? And what happens, if there are issues where no consensus can be reached in the NEO-core-team or between the NEO-core-team and CoZ? (With the implications of the August 1st potential BTC hardfork approaching, the question naturally to be raised is how to know whether something is truly fork-resistant. NEO’s dBFT- delegated Byzantine Fault Tolerance structure goes a long way in preventing the possibility of a fork in the future).

E: The main reason why this situation of Bitcoin at present is because Satoshi Nakamoto left at early stage, that leads BTC community to the fork situation. Same thing happened to ETH. Differently Vitalik did a lot of work to keep the community together. What is a hard fork? It’s a protocol improvement. Upon the improvement necessity, Core Dev should propose the new protocol. If someone does not want to follow, a hard fork happens. That improvement in my eyes is inevitable, but necessary.

D: I misunderstood this question, but will post my answer anyway. The answer is about consensus fork.

NEO’s design favors consistency over liveness. NEO won’t fork if the DBFT safety assumption is met. Under extreme cases (1/3 of the consensus nodes collude), the network will stop immediately when competing blocks at same height emerge.

What are the benefits and requirements of running a book-keeping node?

I read from forums, some say you need 10k ANS, some 1k ANS and some 1k ANC. Truly confused.

Network with good situation and 24 hours on-line. For the benefits, people can get fee of the transitions. However, the fee of transitions is zero so that now no benefits for the book-keeping nodes. But they will receive the fee with the growth times of transitions.

To be a book-keeping node, you should become candidate first. And to be the candidate, you should pay 1000 gas to system. After the voting, the top number of n candidates can be the book-keeping nodes. the “n” should be equal to or more than 7 and also it depends on the result of voting.

Hello. What is upcoming marketing plan for NEO? (note: the emphasis of questions relating to marketing during the AMA speak to the concern of the masses in regards to NEO’s Marketing strategy)

D: The major one will be a NEO DevCon in Q4. Bay area might be a good place to hold the event.

NEO vs GAS (note: Gas comes into being initially as a dividend to holders of the NEO coins) has been the hot topic for the last few weeks. There are many who argue: why buy 1 NEO to generate 1 GAS (in about 22 years) when you can buy GAS right now and for cheaper.

What is your team’s opinion on that view?

E: The NEO holder will get benefits in two ways: one is each block will reward to him so that if he hold 1 neo and keep 22 years so as to get 1 gas. On the another hand, he will get benefits from the gas consuming of the users of NEO system. If no one use the system, he will just get 1 gas after 22 years with 1 neo. But you can imagine if more and more users for the NEO system, how much the NEO holder will get, much more than the first way, right?

What are the three greatest challenges you see for NEO’s future, and how can our open-source community take action to overcome those challenges? (note: NEO’s integrations of common coding languages makes it an attractive platform for mass collaboration as well as future dAPP developments) Thank you.

D: The biggest challenges is to get developers involved. We love to see more Builders emerge from the community.

Can you please explain to us Westerners how NEO’s certificate technology will help the the Chinese government trust NEO as a cryptocurrency? We are especially curious in regards to how NEO solves problems and gains approval of the Chinese government in comparison with other cryptocurrencies that Chinese government discourages, such as BitCoin.

D: If you read the whitepaper you will see that anti-censorship, anonymity, unstoppable applications are not design goals of NEO. That’s why we say NEO is for the smart ECONOMY.

Hi guys! Just 2 questions. 1) Having to send all of your NEO funds to yourself to obtain GAS seems odd. It is also nerve racking for those of us who have a LOT of NEO. Will future wallets allow us to simply obtain GAS without claiming in this way? 2) Can you state whether any new exchanges will be added soon? Thanks!

auto-claiming will spam every block with tens of thousands of transactions modifying GAS balance for every address holding NEO.

it’s up to exchange to list NEO, but we will reach out and are glad to provide technical support.

When do you expect NEO to be introduced to more exchanges?

D: It’s always ongoing

Who do you see as your biggest competitor at the moment, and what do you think about your own project in comparison to those? Both positive and challenging things.

E: I think Ethereum should be our biggest competitor at the moment. They have the first mover advantage and the complement community. For NEO, at lease we have three kind of advantage:

1. the better architecture: it help us to make a better future

2. more developer-friendly smart contract： it can be easy for us to construct the ecosystem.

3. digital identity and digital assets: help us to combine with the real life easily.

—–

These questions and answers were taken directly from NEO’s first AMA with their Reddit community. The AMA, by no coincidence, was scheduled on the same week as their anticipated re-branding from Antshares to NEO. The AMA ended up spanning over 500 comments from the NEO Reddit Community. If you’re interested in reading the entire AMA, follow the link below. NEO is generating a lot of buzz in the crypto community as potentially the new frontrunner in taking China’s crypto market by storm. Some pundits have gone so far as labeling it “China’s Ethereum.” No one can say certainly what will happen, but there’s no doubt that NEO has potential to emerge as a dominant force in the crypto economy.

—

https://www.reddit.com/r/NEO/comments/6puffo/we_are_da_hongfei_and_erik_zhang_founders_of_neo/dksac6i/

Source link

Source: http://bitcoinswiz.com/neo-ama-recap-and-analysis/

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zarazyana · 3 months ago

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What Is Crypto KOL Marketing and How Does It Work?

In the fast-evolving world of cryptocurrency, effective marketing strategies are crucial for standing out and achieving success. One approach that has gained significant traction is Key Opinion Leader (KOL) marketing. For those new to the term, Crypto KOL marketing involves leveraging influential figures within the cryptocurrency space to promote products, projects, or services. But what exactly is KOL marketing, and how does it work in the context of the cryptocurrency industry? This blog will delve into the concept of Crypto KOL marketing, its mechanics, benefits, and best practices to help you understand how to harness its power for your own projects.

Understanding Key Opinion Leaders (KOLs)

Before diving into Crypto KOL marketing, it's important to understand who KOLs are. Key Opinion Leaders, sometimes referred to as influencers or thought leaders, are individuals who hold sway over a specific audience due to their expertise, credibility, and reach within a particular field. In the context of cryptocurrency, KOLs are typically experts, analysts, investors, or prominent figures with substantial followings on social media platforms, forums, and other digital channels.

The Role of Crypto KOLs

Crypto KOLs play a pivotal role in shaping opinions and driving discussions within the cryptocurrency community. They often:

Provide Insights and Analysis: KOLs offer in-depth analysis, forecasts, and insights into various cryptocurrencies, blockchain technologies, and market trends.

Share News and Updates: They disseminate news, updates, and developments related to the crypto space, often before mainstream media covers them.

Engage with Communities: KOLs interact with their followers, answer questions, and foster discussions, thereby influencing community sentiments and perceptions.

Promote Projects: They endorse or review crypto projects, ICOs (Initial Coin Offerings), and other blockchain-related ventures, which can drive interest and investment.

How Crypto KOL Marketing Works

Crypto KOL marketing involves several key steps, from identifying the right KOLs to measuring the success of the campaign. Here's a detailed look at how it works:

1. Identifying the Right KOLs

The first step in a successful Crypto KOL marketing strategy is identifying the right KOLs to partner with. This involves:

Assessing Relevance: Choose KOLs whose expertise and interests align with your project or product. For instance, if you're launching a DeFi (Decentralized Finance) platform, look for KOLs who are known for their work in DeFi and blockchain finance.

Evaluating Reach and Influence: Analyze the KOL’s reach, including their follower count, engagement rates, and the size of their audience. However, it's not just about numbers—relevance and the quality of interactions matter too.

Checking Credibility: Ensure that the KOL has a strong reputation and is respected within the crypto community. Their endorsement should add value and credibility to your project.

2. Defining Campaign Goals

Before reaching out to KOLs, clearly define what you hope to achieve with your marketing campaign. Common goals include:

Brand Awareness: Increasing visibility and recognition of your crypto project or product.

Lead Generation: Attracting potential investors or users to your platform.

Engagement: Fostering interaction and discussions around your project.

Educating the Audience: Providing valuable information about your product or the broader cryptocurrency ecosystem.

3. Crafting a Compelling Proposal

Once you’ve identified potential KOLs, craft a compelling proposal that outlines:

The Objective: Clearly state what you aim to achieve through the partnership.

The Value Proposition: Explain why collaborating with your project will benefit the KOL and their audience.

Campaign Details: Provide specifics about the campaign, including content requirements, timelines, and compensation.

4. Establishing Collaboration Terms

When negotiating with KOLs, it’s crucial to establish clear terms of collaboration. This includes:

Compensation: Decide on the form of compensation, whether it's monetary, tokens, or other incentives.

Deliverables: Define what you expect from the KOL, such as the number of posts, reviews, or appearances.

Timeline: Set a timeline for when the content will be published and any key milestones.

5. Executing the Campaign

With terms agreed upon, the next step is to execute the campaign. Ensure that:

Content is High-Quality: Collaborate with the KOL to create engaging and informative content that aligns with your brand message.

Promotion is Consistent: Monitor the campaign to ensure that the content is being promoted as agreed and that it reaches the intended audience.

Engagement is Managed: Respond to interactions and feedback from the audience to foster a positive and engaging environment.

6. Measuring Success

After the campaign is live, it’s essential to measure its success. Key metrics to track include:

Engagement Rates: Monitor likes, shares, comments, and other forms of engagement on the KOL’s content.

Traffic and Conversions: Analyze how much traffic the campaign drives to your website or platform and the resulting conversions or sign-ups.

Sentiment Analysis: Assess the overall sentiment of the audience towards your project based on the KOL’s content and interactions.

7. Analyzing Results and Adjusting Strategies

Post-campaign analysis is crucial for understanding the impact of your Crypto KOL marketing efforts. Evaluate what worked well and what didn’t, and use these insights to refine future campaigns. Consider factors such as:

ROI: Calculate the return on investment by comparing the campaign’s cost to the results achieved.

Feedback: Gather feedback from the KOL and the audience to understand their perspectives and experiences.

Lessons Learned: Identify key takeaways to improve your strategy and approach in future campaigns.

Benefits of Crypto KOL Marketing

Crypto KOL marketing offers several advantages for projects and brands in the cryptocurrency space:

1. Enhanced Credibility and Trust

Partnering with well-respected KOLs can lend credibility to your project and build trust with potential investors and users. Their endorsement acts as a form of validation and can significantly influence public perception.

2. Increased Visibility and Reach

KOLs have established followings and can amplify your message to a broader audience. Their reach helps increase brand awareness and drive traffic to your project.

3. Targeted Marketing

By selecting KOLs with relevant expertise and interests, you can ensure that your marketing efforts are directed towards a highly targeted audience that is more likely to be interested in your project.

4. Community Engagement

KOLs are skilled at engaging with their communities and fostering discussions. Their involvement can help generate buzz, stimulate conversations, and build a sense of community around your project.

5. Educational Value

KOLs can educate their audience about your project, providing valuable information and insights that help potential investors and users make informed decisions.

Best Practices for Crypto KOL Marketing

To maximize the effectiveness of your Crypto KOL marketing efforts, consider the following best practices:

1. Build Authentic Relationships

Focus on building genuine relationships with KOLs rather than viewing them solely as promotional tools. Authentic partnerships are more likely to yield positive results and foster long-term collaborations.

2. Ensure Clear Communication

Maintain open and clear communication with KOLs throughout the campaign. Ensure that expectations, deliverables, and timelines are well-defined and agreed upon.

3. Focus on Quality Content

Collaborate with KOLs to create high-quality, informative, and engaging content that resonates with their audience and aligns with your brand’s message.

4. Monitor and Adapt

Continuously monitor the campaign’s performance and be prepared to adapt strategies based on real-time feedback and results.

5. Foster Community Engagement

Encourage KOLs to actively engage with their audience and respond to comments and questions. This helps build a positive relationship and enhances the impact of the campaign.

Conclusion

Crypto KOL marketing is a powerful strategy for promoting cryptocurrency projects, products, and services. By leveraging the influence and expertise of Key Opinion Leaders, you can enhance credibility, increase visibility, and engage with a targeted audience. Understanding how Crypto KOL marketing works, from identifying the right KOLs to measuring campaign success, is crucial for developing effective strategies and achieving your marketing goals. With careful planning and execution, Crypto KOL marketing can be a valuable tool in driving the success of your cryptocurrency venture.

#cryptocurrency #crypto #crypto marketing

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