Wisdom is invaluable. Knowing the whats, hows, and whys is important in every situation. However, you can’t gain wisdom without going through a painful process I like to call “making mistakes.” Some people learn from their own mistakes, but some learn from the mistakes of others. As an investor, I want you to do the latter – by communicating with people who have already passed the beginner’s stage. The right people can prevent you from making rookie mistakes. In this article, you’ll discover the top 7 crypto communities that can enrich your investing experience.
The cryptocurrency community is rich not only by the material value it possesses, but also by the knowledge and wisdom it shares. You’ll find friends, mentors, and rivals in this decentralized clique – here are some of the best crypto communities and where you can find them.
1. Crypto Twitter
Crypto Twitter (CT) is our community’s main hotspot. Although the social network offers no dedicated section to crypto fans (yet), you’ll find many investors like yourself and you will create a social circle by following other people. You can find like-minded investors by following industry experts, developers, or crypto platforms.
Twitter is the place where investors share charts, speculate assets, post memes, and drown in drama. In one corner, you have technical analysis experts who post charts, in another developers fight to create the best crypto platform, and somewhere else you’ll find meme experts who aggregate the community’s most dramatic events. CT is also home to a large community of NFT investors, who thanks to Twitter, can use their real NFT as their profile picture – and by real NFT, I mean a link to a hosted JPEG file.
What I like most about Twitter is that it has real people with real stories. I’ve read about people making millions in the course of months and others losing millions in minutes. Some helped me fix stuck MetaMask transactions, some guided me through a confusing dApp, and some gave me trading tips.
However, Twitter can be hit-or-miss. If you follow the wrong people, you might end up trusting scammers, joining paid trading groups that aren’t even worth the price of a Netflix subscription, or learn to invest from people who only pretend to be successful. My advice? Find humble people who don’t flex watches and cars – they’re often the wealthiest.
If Twitter is where you meet people and read their opinions, Discord is where you’ll talk with them and make friends. Discord is an instant messaging platform where you can text and call people and join servers. Most crypto fans primarily communicate on either private or public Discord servers.
A public server would be the server of crypto and platforms or CT traders. Servers led by crypto platforms offer information about the project, announcements, and tutorials. You can discuss the project with other people and speculate on their token’s value.
The other type of server is managed by a person with a large Twitter following. If he’s a trader, he’ll post charts, discuss the market, and offer guiding points on investing. You can join these groups for free. However, some accounts lean more toward the influencer type and create paid groups that require a monthly subscription.
A private server is usually run by a close group of friends. The server can be private for many reasons. Maybe the group shares sensitive information about their personal lives under an anonymous pseudonym. But another possibility is that they possess alpha, valuable investing information, or trading opportunities that haven’t yet been leaked to the public.
Since there is no public database of crypto discord servers, you’ll have to find invitation links via Twitter accounts, usually in the description of an account. Once inside a community, you can also ask their members for suggestions for other servers to join.
Here’s an example of how Discord servers improve my crypto life. I don’t always have time to scroll through Crypto Twitter to learn about upcoming NFT mints, so whenever I need a quick overview, I go to the #Alpha channel at Famous Fox Federation’s Discord server. Users there discuss and pin NFT launches that might not fail, and I get to explore everyone’s views and form my own opinion. More often than not, I stumble upon a goldmine mint that rarely anyone knows about.
After Twitter and Discord, Telegram is the third-most popular platform for crypto communities. Telegram is a secure and private instant messaging platform similar to WhatsApp and Signal. Crypto investors use Telegram to join channels typically owned by trading groups and projects. These channels allow users to discuss investment opportunities and share custom-made sticker packs.
Privacy is Telegram’s best feature. You can stay anonymous and chat by sending encrypted messages. You can hide your phone number or the last time you were online, and send messages that self-destruct.
You probably don’t think privacy is important. But once you advance your status in the online world and earn large sums of money through your crypto investments, you’ll change your mind. You don’t want anyone to know that you invest in crypto, and if you have to chat with someone about digital assets, you might as well remain anonymous and safe.
As with Discord, you can also find links to Telegram groups on Twitter. But be careful not to join any shady ones. Telegram groups often harbor scammers who pretend to be admins. They might contact you pretending to be the channel owner to steal your crypto.
Reddit is a bit easier to use to discover the best crypto communities. You can head to r/Cryptocurrency and in the sidebar you’ll find all the information you need – even a crypto wiki. The subreddit also has a directory with a list of relevant subreddits.
Investors use Reddit to discuss projects, share memes, and read the latest news. This social media format bears more similarity to a forum. However, you can also chat with users here and meet other investors.
Reddit is used for the same purposes as Discord and Twitter. The main difference is that crypto subreddits offer flairs and tags which you can use to browse specific topics. Moreover, Reddit users typically discuss broader topics, so the discussions aren’t as niche, making it perfect for beginners.
However, my opinion is that Reddit might be too beginner-friendly. It’s a good place to start your journey, but you’ll want to switch to other platforms for an advanced understanding of crypto and financial markets.
5. Social Trading Platforms
Investors who can’t trade can still make money daytrading by copying good traders. The crypto world features social trading platforms where traders can publish trades and allow others to copy them. Often enough, you’ll copy a trader automatically. Whenever they enter a trade, so will you. And whenever they take profits or suffer losses, so will you.
But social trading platforms don’t have to be exclusively about registering an account and copying trades. They can be the perfect place for meeting the right people.
Social trading platforms encourage you to share trading ideas and setups, so you’ll find people with similar trading styles and taste in cryptocurrencies. Love trading altcoins? You can find an altcoin expert and learn their ways. Trade Bitcoin and only Bitcoin? You can find another BTC maxi who has perfected the craft of trading the number one cryptocurrency by market cap. If that’s not enough, finding investors who specialize in trading complicated derivatives such as futures and options might sound attractive.
Shrimpy is not only an automated portfolio management tool, but also a social trading platform. I suggest exploring Shrimpy’s leaders to gain a glimpse at social trading communities.
6. Bitcointalk Forum
Bitcointalk is an online forum visited by users interested in Bitcoin, cryptocurrencies, and decentralized technology. Satoshi Nakamoto created the forum in 2009 while working on Bitcoin. In fact, you can read many of the developer’s old posts and find his entire profile and comment history.
The forum is segregated by different categories, which include:
Development and Technical Discussion
Bitcoin Technical Support
There are also sections for talking about the economy, politics, and off-topic discussions.
The forum is named after Bitcoin and mainly contains posts related to Bitcoin. However, the community’s primarily maximalist-oriented users also allow altcoin discussions. You may have a hard time convincing a fellow maxi that there’s more to crypto than Bitcoin, but at least you’ll have your own corner to discuss other assets.
Another neat thing about Bitcointalk is that it has subsections for investors from different countries. If you’re not a native English speaker and wish to talk about crypto with people from your country, Bitcointalk lets you do it.
You can access the forum and read posts without an account. However, if you want to participate in discussions, you’ll need to register. Accounts are email-based, so there’s no chance for someone to doxx you. Just avoid using an old username.
Although Bitcointalk might not be the best place for discussing the newest technologies and trends, it’s perfect for finding in-depth information about old-school blockchain networks. If you want to finally understand what a blockchain network is and how it works, you’ll find at least a hundred people willing to explain it to you – don’t worry if they start arguing over which Bitcoin is the real one.
Steemit is the Medium of the crypto world. The platform is a blockchain-based blogging website that rewards users who publish content with the native STEEM cryptocurrency. Although the previous options are more popular, this platform at least rewards you for posting.
Steemit is designed as a dApp that’s hosted on its own blockchain network called Steem. The purpose of Steemit is to decentralize communication and incentivize global and widespread adoption by paying users to post their ideas and share thoughts.
The platform distributes STEEM tokens based on the interest that readers show in a publisher’s article. The more upvotes and views an article receives, the more tokens the publisher earns. However, consider writing on Steemit only as a part-time hobby. The money earned there is not enough to replace your day-job – sadly, writing about crypto memes isn’t enough to make a living.
Social Media and Crypto: Best practices
You wouldn’t tell a stranger that you have 10 pounds of gold stored in your home, so why tell someone online about your crypto investments? After all, Bitcoin is much better than gold – in the sense that it’s easier to steal and sell on the black market without getting caught.
In an era of social media and crypto influencers being kidnapped and tortured until they reveal their seed phrase, discussing your investing activity online is not the wisest decision. In fact, it’s dangerous. If you want to share your portfolio with other investors, you might as well do it anonymously.
Here are five good tips for mixing crypto and social media:
Use different usernames on different platforms.
Always use a pseudonym
Leave no trace or information about your personal life.
Stay humble at all times (no, don’t share your PNL with everyone).
Avoid meetups, except with people you trust.
If you want to learn more about crypto communities, I recommend reading the following articles:
Marko is a crypto enthusiast who has been involved in the blockchain industry since 2018. When not charting, tweeting on CT, or researching Solana NFTs, he likes to read about psychology, InfoSec, and geopolitics.