Cryptocurrency market strategies

A cryptocurrency or crypto is a collection of binary data which is designed to work as a medium of exchange where’s the individual coin ownership records are stored in a ledger which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Some crypto schemes use validators to maintain the cryptocurrency.

There are 5 types of cryptocurrency –

1. Bitcoin – Bitcoin is the oldest and most popular cryptocurrency in the world. Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products and services.

2. Ethereum – Ethereum is a cryptocurrency network that uses blockchain technology to facilitate smart contracts. It is the native cryptocurrency of the platform. Ether is the second only to Bitcoin in market capitalization. It was invented in 2013 by programmer Vitalik Buterin.

3. Dogecoin – Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a “joke”, making fun of the wild speculation in cryptocurrencies at the time.

4. Cardano – It is a public blockchain platform. It is open source and decentralized, with agreement achieved using proof of stake. It was founded by Ethereum co-founder Charles Hoskinson.

5. Litecoin (LTC) – It is a peer-to-peer cryptocurrency and open source software project. In technical details, Litecoin is nearly identical to Bitcoin.

There are few strategies to create a market for these cryptocurrencies. Those are –

1. Keep your audience engaged – You have to engage your audience by creating massive anticipation for your crypto launch. For this, you need to keep pushing updates about the crypto launch. Keep your audience informed about the next plan of your agenda and when the crypto launch will take place. To promote about the launch you can use calendar sites like ICOCountdown, ICObench, CoinMarketCal and Coindar.
2. Use referral programs to encourage word of mouth – Referral programs have one of the highest conversion and retention rates amongst all marketing channels. The calculation is simple. We would trust a product if a friend referred to it. And so does everyone. When you motivate this word of mouth marketing, you will create a loyal customer base. In a referral program, you reward the promoter and the referral. This way, you create a win-win situation for everyone. Apart from referral programs, you can also run affiliate marketing programs. These programs bring more traffic as affiliates often have an existing customer base.
3. Airdrop tokens – Due to many airdrop scams, airdrops are not as popular as they used to be. Nonetheless, they still create the most buzz. During airdrops, you distribute free crypto tokens to those who register for them. As this distribution is free, it attracts more people, thereby increasing your reach. Not only wide reach, but airdrops also bring liquidity for your crypto project.
4. Run marketing campaigns on social media and do email marketing – Social media is the main key to your crypto marketing success. If you want to receive massive attention, social media is the main way through which you can get that attention. Try to push ads on as many platforms as you can. Use Twitter, Facebook, YouTube etc.

Conclusion – Crypto market is flooded with new projects every month. To stand out from the crowd, you have to adopt an effective cryptocurrency marketing strategy. An ideal crypto marketing campaign involves all – pushing updates, referral programs, airdrops, social media marketing, and email marketing. Further, you can also use SEO and content marketing to bring organic traffic to your crypto website.