Crypto trading is a popular means of making profits off the crypto market. Hence. It comes as no surprise that traders are constantly engaging in crypto communities to ensure that their market activities are profitable. One such community is r/BitcoinMarkets, which brings people from different backgrounds and levels of understanding of the concept of crypto trading, together to share insights and tips on how to trade bitcoins successfully. In this review, we will highlight the r/BitcoinMarkets subreddit and explore some of its strengths and weaknesses.
What is r/BitcoinMarkets?
r/BitcoinMarkets is a subreddit on the Reddit platform that houses crypto participants who are eager to share information and learn new skills relating to bitcoin trading. Although this forum focuses on bitcoin, it, however, discusses topics relating to altcoin trading from time to time. At the time of this review, r/BitcoinMarkets had 143.000 members, which indicates that it is one of the most popular forums dedicated to bitcoin trading. Also, from our tour of the subreddit, we could conclude that the subreddit does not just boast a huge following, rather its buzzing discussion threads suggest that its members are active. Hence, it is certain that questions and contributions posted on this group would trigger comments almost immediately.
The Discussion Threads On r/BitcoinMarkets Subreddit
The moderators have created daily discussion threads, which comes with a guide on the ranges of topics that members can discuss. Usually, daily threads allow members to analyze recent events relating to bitcoin. Also, you can access trading ideas, strategies, and technical analysis on these threads, as long as they conform with the current market movements. Lastly, you can ask questions relevant to the topics or events discussed on the thread.
Unlike the daily discussion thread that majorly focuses on bitcoin-related topics, the altcoin discussion thread encompasses the entirety of the crypto market. Besides, the same guidelines governing daily discussion also applies to altcoin discussion. Here, you can contribute topics, market tips, trading strategies, and technical analysis. You only need to ensure that your contributions align with the scope of the thread and that they are not stale. Moreover, you can ask questions relating to altcoin trading and get quick solutions.
Having explored the discussion threads of the BitcoinMarkets Reddit, the next section will introduce you to the rules that should govern your activities in this group.
What Are the Existing Rules of the R/BitcoinMarkets Subreddit?
Treat Everyone with Respect
Reddit is a platform that values decorum, and this rule of engagement is enforced in all of its subreddits. As such, r/BitcoinMarkets’ first rule is “Be excellent to each other.” You should always respect people’s views, whether they are wrong or right. Instead, make your perception known in a clear but non-abrasive manner. In other words, you should not mock other’s show of ignorance, attack their personality, harass them, or provoke them to react. Engaging in any of these acts could get you kicked out of the subreddit or banned from the Reddit platform. Therefore, it is crucial to comply with this rule to the letter.
Focus on Bitcoin Trading
Judging from the name of the subreddit, bitcoin trading is the niche it caters to, and the moderators want it to remain that way. Hence, they have enacted a rule that enforces members to stick to discussions relating to bitcoin trading. Members have the liberty of discussing other topics on the altcoin discussion thread.
There Is No Room for Low Effort Contents or Memes
The moderators want you to take the community seriously and to put some effort into ensuring that your contributions are top quality. Hence, you can't make claims without attaching evidence or use memes to express yourself. Also, the subreddit does not allow links to YouTube videos that are irrelevant to bitcoin trading. Likewise, the moderators consider price updates as spam.
No Covert Advertisements
There is a rule that discourages members from posting advertisements disguised as normal comments or posts. You should reveal your affiliations with promoted entities and not just include them in your posts without stating your true intent. Furthermore, you should ensure that you only post full links and not shortened URLs. More importantly, the subreddit does not condole crowdfunding referral links or advertisements. In the same way, offering private trades is unacceptable.
Similarly, exchanges' representatives, who wish to engage with the r/BitcoinMarkets community, must undergo verification to ascertain that they are truly who they claim to be.
As it is with our culture, we have compiled the strengths and weaknesses of this crypto subreddit.
The Pros of r/BitcoinMarkets
It Is Popular and Has Active Members
r/BitcoinMarkets is not only a large community of bitcoin traders, but it has managed to keep its members active. From our review, we found that the daily discussion threads always had members buzzing about the latest events that could alter the price of bitcoin. This high volume of activities bodes well for newbies who are keen on accessing as much information as they can to improve their trading skills.
It Is Secure
Owing to the moderators’ push to enforce rules that regulate advertisements, it is clear that r/BitcoinMarkets is safe for its members. You will agree that the rules, subjecting exchange representatives and marketing professionals to divulge their identity and undergo verification, indicate that r/BitcoinMarkets is weary of crypto scams that commonly plagues crypto communities.
It is easy to navigate
Encouraging members to post on discussion threads, created on a daily, makes it easier to navigate the contents of the crypto subreddit. You can search for the discussion thread that suits your current trading needs, explore the latest, and access all of the recent tips and strategies that could help you make the right trades.
The Cons of r/BitcoinMarkets
It Seems That the Subreddit Is Not A Big Fan of Images
Apart from promotional content, it is very difficult to find a submission, which had an image depicting the information contained in the post. Hence, to some visitors, engaging with a network that does not fancy visual representations might seem bland
- Daily Discussion can be seen at a glance.
- Active moderators are displayed.
- It Is Popular and Has Active Members
- It Is Secure
- It is easy to navigate
- No pictures attached for every post.
- It Seems That the Subreddit Is Not A Big Fan of Images