If we dive into the history of blockchain and cryptocurrency over the past 15 years, the first things that come up in the news are mostly scams, hacking events, and major disasters. That doesn’t exactly bode well for an industry that’s based on trust and needs people to invest in new currencies.
The issues don’t just stop there, with one in every three Americans not considering crypto a real currency and disbelieving it has any real-world value. This information is all to point crypto CEOs in the direction of one absolute truth — this industry is incredibly difficult to break into.
Even if you get past the non-believers, you’re then challenged with the task of persuading people that have been burned time and time again that your project is the real deal. So, how do you do it? How does one overcome the insurmountable odds that prevent the majority of cryptocurrency projects from succeeding?
The simple answer is to use the media and media communications that we have available to us. Let’s dive into the world of cryptocurrency media, demonstrating how blockchain brands can use these channels to build up trust in their project.
Why Don’t People Trust Cryptocurrency?
Casting our sights back on the past 10 years of cryptocurrency, there are, unfortunately, a lot of mishaps that have happened along the way. There has been the BitConnect Ponzi scheme, which stole over $2.4 billion from users around the world. There have been game hacks where hackers have made off with over $600 million in user items.
Most recently, we’ve seen the third largest cryptocurrency exchange in the world, FTX, steal over $1.3 billion in user assets. To someone that’s not familiar with this industry — and even for us working in blockchain — these stories are frankly crazy. It’s no wonder that people don’t trust cryptocurrency when we hear about billions of USD in funds being hacked, scammed, or embezzled every couple of weeks.
The volatile nature of this digital currency also makes some people shy away from cryptocurrency. Over the past year, 70 of the world’s leading cryptocurrencies lost 90% of their total value. This is not an uncommon story, with market leaders like Bitcoin and Ethereum also taking major hits during 2022.
The market volatility, combined with the unfortunate history of crypto, has culminated in a space that no longer trusts blockchain itself. Let alone new projects entering this space.
How Does Publishing to Cryptocurrency News Websites Help Fight This?
In the world of traditional business, every new company starts from a point of neutral trust. As a consumer, we don’t trust a new business straight away, but we also don’t mistrust them completely. In blockchain, new companies are starting from a position of negative trust. Without a credit history in the market, nor proof that the project isn’t just a rug pull waiting to happen, consumers hardly ever want anything to do with new projects.
This is one of the reasons that media relationships have become so vital. Typically, a consumer needs to see a brand seven times before they then start to recognize it. If a consumer doesn’t want to read through a new project’s documentation, their only point of contact with a new cryptocurrency project is through the media.
By publishing thought pieces, articles, and press releases about your cryptocurrency project, you’re able to slowly start to build up people’s trust in your brand. This is not going to be an overnight solution, but one that will snowball over time. While the first few articles won’t get much traction, continually posting will help you in two ways:
- Recognition — The more times you post on news websites, the more likely it is that a consumer regularly sees your company’s name. They’ll be more willing to invest once they’ve seen you many times.
- Belief — If you continually post news about your company over a long period of time, you’re showing the world that there is still an active team that’s continually developing your project. This dispels one of the biggest concerns, that a project may be a rug pull, helping to get people on your side.
If you’re looking to build both trust and visibility for the cryptocurrency community, there is no better way than focusing on your own presentation in the media. Start with regular press releases, before then moving on to cover the entire range of media communications possible.
If you’re not too sure what a good cryptocurrency press release looks like, then take a look at these crypto press release examples for a better idea. Using these as templates, you’ll be able to rapidly write a number of press releases, then share them with a number of different media outlets.
From there, your views will start to flood in. With more views, as we’ve suggested, will come trust, familiarity, and, eventually, new investors. Without a doubt, this is the best way to conquer the trust problem that blockchain has.
When people state that cryptocurrency is a hard industry to break into, they’re absolutely on the right track. Out of many of the modern industries that have been created and popularized over the past two decades, blockchain is one that many people don’t understand, and have seen a lot of negative press around.
With this dark history, fighting for your cryptocurrency brand to be featured in media outlets is one of the most effective ways of making a difference. If you’re looking to boost your recognition in the community, get people reading about how great your project is, and boost the number of backlinks that point to your site, crypto press releases are the way to go.
Focus on this core element of media communications, and everything else will follow. If you can break into this space, you’ll have a much easier time being accepted in the world of crypto.