More Twitter followers doesn’t equal a good account

Many people are using the amount of Twitter followers they have as proof of their expertise. Here is why this is wrong

Legitimacy is hard to come by. One small mistake or wrong move and people can accuse you of unethical behaviour or a terrible take. Those who have a large amount of Twitter followers would have you believe they are more trustworthy than others. Surely with such a following they are providing value, are they not? Sadly, in the world of cryptocurrencies, this isn’t necessarily the case.

Manipulating your follower count is like price manipulation on certain cryptocurrencies – it is all too easy and all too common. Buying followers is a simple tool to boost your follower count and make you look more influential. Social media marketing tools are also commonly used in an attempt to gain traction with followers. Both have proven to be useful tactics.

I have discussed before that assuming everyone in crypto Twitter is trying to scam you is the easiest and safest way to behave. Whilst some may believe this level of suspicion is unnecessary, there have been numerous documented accounts of “shills” not disclosing their payments from ICO companies or other tokens paying them for promotion.

What is yet to be understood by many is that the easiest way to make money in cryptocurrencies is through building a “brand”, particularly online. By gaining followers and having a large social media presence, you can then receive payments from companies within cryptocurrencies desperate for marketing. Despite what some like to portray on social media, making money from trading cryptocurrencies is more difficult than one might imagine. This coupled with the severe bear market means that social media branding and shilling is more widespread then ever.

This all means that attaining Twitter followers is essential to business. Some of the largest Twitter accounts in the world of cryptocurrencies are irrelevant shillers who have built that brand. Whilst for many this is obvious, there are still newcomers to the space that haven’t grasped this notion. Be careful of accounts that have a large following, and don’t assume their follower count means legitimacy.



Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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