Owing to the growing importance of discord groups, this guide looks to explore their workings and attributes. Plus, you get to have access to our list of best cryptocurrency and bitcoin discord groups. Also, this article will explain some of the factors we examined while reviewing these groups. So, without further ado, let’s get you started on the functionalities of crypto discord.
What is Discord?
Discord is a free-to-use social network app accessible on iOS, Android, Windows, Linux, and macOS devices. You can also access it on web browsers. It supports an array of communication features that have made it one of the go-to apps for community-based projects and industries. This notion has spurred the crypto community’s growing affinity for Discord, though it was created for video gaming communities.
Besides, its Voice over Internet Protocol (VoIP), which allows text and multimedia messaging through the internet, makes it easier to communicate and share insights on crypto topics.
What Are Cryptocurrency Discord Groups?
Discord houses several channels, including a crypto channel. Each channel has subchannels or groups where people can network and discuss predefined topics. Naturally, crypto startups, news platforms, and blogs capitalize on the global ecosystem of Discord to get people talking about their projects or content. And so, cryptocurrency discord groups are subchannels where members can talk about cryptocurrency via text or multimedia messages.
On one hand, there are cryptocurrency discord groups that focus on a particular aspect or sector of the crypto industry. On the other, we have those that base their discussion on diverse topics, as long as they relate to crypto.
Why Do People Join Crypto Discord Groups?
To Learn About Cryptocurrency
Like forums and crypto guides, crypto discord groups are channels, through which crypto participants can explore technical crypto subjects. Here, you can ask questions and get help in finding your way through complex processes within the crypto space. In light of this, there are a lot of groups that discuss the fundamentals of crypto trading, which is helpful to new entrants in the crypto market. Since this platform permits multimedia messages, a beginner can access tutorials in different message formats that best explain the subject. Also, the growing popularity of crypto discord groups ensures that experts are always around to answer questions.
To Improve Content Visibility
The crypto space is a fast-paced landscape. Therefore, it takes extra effort, on the part of content generators, to guarantee that their platforms stand out from the growing number of media outlets vying for crypto practitioner’s attention. Hence, media outlets capitalize on the global reach of community-based platforms to boost their visibility and get people talking. As expected, Discord is one of the preferred channels for posting short previews or links to blogs and crypto news content. Similarly, startups use discord groups to introduce the crypto community to their ongoing projects. To do this, they post links to their landing page or whitepaper as well as other articles that mention or feature their products.
Then, there are people aspiring to become popular personalities in the crypto world. They constantly engage the crypto community to showcase their crypto knowledge-base by promoting their blogs or posting interesting comments. Likewise, crypto practitioners are fond of arguing their perceptions, or discord cryptocurrency, to keep the conversation wheel spinning.
To Analyze Crypto Market Trends and Analyze Market Sentiments
Traders are constantly prowling the web, searching for hints on market trends and price projections. It is, therefore, unsurprising that traders have made crypto discord groups their abode. They analyze polarizing sentiments and their possible effects on price movements. This bit of research is one of the many ways successful crypto traders maintain a winning streak in the uncertain crypto market. Also, they use discord groups to access and post crypto signals. More so, they utilize these platforms to teach new entrants basic crypto trading strategies.
Apart from crypto traders, news media outlets lurk crypto discord groups to get the juiciest news emanating from the crypto community. Also, they use these channels to gauge the sentiments of discord group members on sensitive and hot topics. As well, we have crypto firms, which look to create a strong following for their brands and projects. These entities engage with discord users to identify new ways to market their ideas and serve their customers better.
To Scam Crypto Holders
Since discord groups encapsulate the entirety of the crypto space, there is enough reason to believe that nefarious individuals, hellbent on scamming crypto holders, are present on these groups. As such, some groups are dumping ground for questionable projects, misleading crypto signals, and fake news. However, this is not an unexpected development, as free community platforms are known to shelter scrupulous set of individuals in the investment space.
Now that you have an understanding of the crypto ecosystem available on Discord, the next section will discuss some of the factors to consider before choosing the best discord group for you.
What are The Things to Look Out for in a Crypto Discord Channel?
The Type of Topics The Group Treats
As stated earlier, there are two basic types of crypto discord groups – the ones that allow comments on any crypto topic and those that streamline their niche. Your current crypto needs would determine the type you will go for. Needless to say, you have to ascertain the niche of the group before joining. You do not want to join a group where they only discord bitcoin when altcoins are your primary investment focus.
Even though joining an inclusive discord group will help you widen your knowledge base of the crypto space, you might find it difficult to access deep insights into a particular niche. As such, we advise that you join more than one discord groups – one for each crypto sector of your choice, and another that facilitates discussions on the broader crypto topics. By so doing, you are certain that you are not missing out on vital information. And since joining or leaving a group carries no charges, there is no harm in trying out our recommendation.
The Number of Active Members in The Crypto Discord Group
There is no fun in joining a crypto discord channel that has a large percentage of idle members. What do you do when you post a burning question, and there is little to no contribution coming your way? Hence, it is not enough to join large groups. Instead, the right way to go about choosing a crypto discord group is to gauge the activities, which the group generates. To do this, you can check the activity ratings of crypto discord groups to view the list of hot subchannels. Doing this will prevent you from joining a group that can only generate idle discord, meaning a low activity group.
The Quality of Discussions on The Group
Unfortunately, high activity does not necessarily translate to quality discussion threads. A group might generate over the top buzz but has no real value, as regards educative and informative contents. A majority of activities in such groups are spam messages, advertisements, and unproductive discussions. For a crypto practitioner who desires to profit from crypto talks, choosing such a mediocre platform is a complete waste of time. It is advisable to scan through the activities of the group before deciding to opt-out or stay put.
The Beginner Friendliness of The Group
Not all groups have the right networking system to create a discord for beginners. Some groups are predominantly made up of crypto experts. Therefore, there is no guarantee that members would take the time to break down concepts when discussing crypto. As a beginner, you should only choose crypto discords that have members who do not have the habit of using ambiguous terminologies to express themselves. Also, an appropriate crypto discord group for new entrants must be a nonjudgmental community of crypto participants where all contributions and questions are respected, regardless of how naïve they may sound.
The Activities of Nefarious Entities
While noting that Discord is a free-to-use platform, it is, therefore, impossible to eradicate toxic comments or misleading statements. Hence, the onus falls on you to research claims, projects, and advertisements posted on discord groups before acting on them. Remember that crypto thieves are always scheming new ways to scam participants. And even the so-called experts fall victim to these schemes, let alone new entrants that are yet to fully grasp the dos and don’ts in the crypto space. As such, we advise that you stay vigilant and always second guess information garnered on discord groups.
That said, as you begin to spend more time on Discord, we expect that you gradually learn how to identify credible groups. At this stage, you will discover that credibility does not necessarily equate to the group’s size. Discord groups, which value due diligence, have shown, time and again, that the security of their members is paramount. And so, they set up various rules of engagement, like restricting spam and advertisements.
Having explored the various ways you can go about researching crypto discord groups, the next section will detail Cryptolinks’ review methodology and introduce you to our list of top crypto discord groups.
How Did Cryptolinks Research Its Cryptocurrency and Bitcoin Discord Review?
While researching the list of cryptocurrency discord groups available today, we ensured that our recommendations listed above featured at different stages of our review. Therefore, we took our time to look beyond the size of the discord group. Instead, we gauged the number of active participants as well as the quality of their contributions. This review methodology is borne out of the fact that the success of a community depends on the commitment of its members to its growth. Hence, ample resources were dedicated to filtering large, but idle or mediocre groups.
After completing this rigorous process, we checked to see how much help new entrants access while using the group. Here, we factored in the level of complexity of the topics discussed and how well the members simplified such topics. This section of our review analyzed the commonly used terminologies in the group. We also checked to see that newbies were confident enough to air their opinions or ask questions. A crypto discord group, which cannot cater to the needs of new entrants, will find it difficult to appeal to a large demographic.
Away from beginner friendliness, we analyzed the discord groups’ propensity to attract scammers. We are aware that thriving groups will naturally become attractive to nefarious entities. While this a given, we checked to see if there was a sense of responsibility, on the part of leading figures in the group, to warn members of pump and dump schemes or report culprits. Part of the perks of joining a crypto community is that you get to have people watching your back. If this is not the case on your crypto discord group, then the purpose for creating the group in the first place is defeated. Also, we analyzed the rate at which unsolicited advertisements pop up on the group. Platforms with high rates were rightly sidelined.
Each platform mentioned on this list has its strengths and weaknesses. And we know that these details would help you make informed decisions. In light of this, we have attached a compressive review, featuring the pros and cons of each platform. Ensure that you read through before making a decision.