When it comes to cryptocurrency, community is everything. Cryptocurrency forums are some of the most up-to-date sources of information that you can find which is essential in such a fast-paced industry. Here in this article, we’ll list out some of the most active cryptocurrency forums and explain the benefit that each one can provide you.
Cryptocurrency Forums: Understanding How They Work.
If you’re new to the cryptocurrency space, then you’re probably wondering what the best places to look for updated information are. While blogs and news articles are getting faster and faster when it comes to writing about current cryptocurrency issues, they still aren’t fast enough to make decisions with.
We’re going to cover the major forums a little later in the piece, but before that, it’s important that you understand a few things about the space. There are literally hundreds of different forums out there, and each one has something different to offer. That being said, some are much better than others.
What to look for:
When you’re on any forum the first thing that you want to look for a specific discussion. If you own a particular type of coin or are interested in a certain platform, then make sure you are looking for a discussion that is based solely on that topic.
The people that participate in these communities will usually know a great deal more than other enthusiasts who take a more generalist approach to the space.
Each forum will have contributors that stand out from the pack. They will post original content that starts threads of comments and contributions. In a way, you can think of a forum as a “centralized ledger system” everything that anyone has ever posted is recorded and public.
Contributors that post invalid or unhelpful information will usually not become very popular on the forum, they could even be banned. Finding people who are leading the pack when it comes to info will give you an idea of who to trust when they come out with new information. While it may not be advisable to run off and make investment decisions based completely off the word of a thought leader, but they can be a helpful starting point for you to do your own research.
It might sound obvious, but the trending topics section is the most important thing that forums have to offer you as a cryptocurrency investor/trader. Almost every forum will have some type of “most popular” or “trending” topic section, watching these closely can help you keep your finger on the pulse of the market.
Sometimes you can hear about legal actions, acquisitions, or new technological advancements all in the trending sections. These can give you insights that people who are not paying as close of attention will miss. The better informed you are about the most current news of the space, the better action you can take in the future.
What to look out for:
In the early days of cryptocurrency, scams and fraud were rampant in the online community. Luckily it has changed for the better. People are much more aware of the dangers, and security measures have become much more potent. All that being said, you still need to keep an eye out when you’re on forums.
The most common type of scam is somebody trying to get you to send them coins for an offer of some type. People new to the space will sometimes send coins to these bad actors in the promise of getting invested in an ICO or some other type of story along those lines. Occasionally people will post fake links to websites that look just like an ICOs website, but they are actually connected to their personal accounts.
Because the community is still very small there it is still easy to hype up projects beyond what they are actually worth. Stakeholders in projects will overhype what they can do in an attempt to increase the valuation of the token, but their motive is just to sell and make a profit.
You can see the same thing when people catastrophize a tokens “death” to get it to lose value so they can short it and again make a profit. Take everything you hear on forums with a grain of salt, make sure to always do your own research if something doesn’t sound accurate.
While there is plenty of great information to be found on forums, there is also a lot of it that is not correct. Facts and figures may be overblown, but good community members will always link to sources if they start talking numbers. People also may claim to know more about topics then they really do.
The crypto world is full of strong opinions, some people are quick to say that certain technologies are better than others when both are really viable solutions. The best rule of thumb is to not listen when you hear people expressing “black and white” opinions about different technologies or events. It’s always best to seek out influencers who take a measured and fair approach to the space.
Top three cryptocurrency forums to follow
Below we have listed a few of the most important cryptocurrency forums around today that you should spend the time to get familiar with. We excluded the major forum platforms like Reddit, Quora, and Stack Exchange and just listed dedicated forum sites.
This is one of the oldest and most active cryptocurrency forums in existence today. With millions of posts and hundreds of thousands of individual threads, if you have a question, this blog most likely has an answer.
With over 50,000 users worldwide, cryptocurrencytalk is always bustle with activity. The forum itself is one of the best places to go on the internet for up-to-date information about new ICOs and Altcoins.
This is a modern and well-moderated forum that has much more information about the entire community than the name would imply. News on this forum is current, and some of the biggest names in the space have been known to actively post on it.
Knowing which cryptocurrency forums to frequent is only half the battle. You also have to know how to use them. Forums are the go-to place for the most up-to-date information regarding upcoming ICOs, new technology, changes of leadership, and so much more. Staying present on these forums essentially allows you to “take the pulse” of the cryptocurrency market allowing you to make more informed decisions more quickly.
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