What Are Crypto Communities and How to Join One?
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What Are Crypto Communities and How to Join One?

What Are Crypto Communities and How to Join One?

Beginner
প্রকাশিত হয়েছে Mar 10, 2023আপডেট হয়েছে Nov 8, 2023
7m


TL;DR

The crypto and blockchain world can be intimidating for those wanting to start their journey. The ever-evolving nature of blockchain and the sheer amount of information often overwhelm beginners. Finding a community of like-minded people can be a great way to get you started in the crypto space.

Introduction

Web3 is a term describing the next iteration of the World Wide Web. It differs from its predecessor, Web2, as it’s built on fundamental principles of decentralization, trustless collaboration, censorship resistance, and ownership. Web3 applications allow users to interact or exchange data without the need for intermediaries.

While we aren’t exactly living in a Web3 world quite yet, there’s a community of people that are aiming to make that happen. Developers, investors, influencers, and other crypto enthusiasts have been working on a variety of Web3 projects, from infrastructure to decentralized apps (DApps).

What Is a Crypto Community?

Crypto communities are composed of people who are passionate about crypto. Community members could bond over their love for NFTs, DeFi, Layer 2 solutions, and all things crypto-related.

Crypto communities are essential for sharing knowledge, and blockchains like Bitcoin, BNB Chain, and Ethereum typically have their own communities. Relatively technical concepts, such as mining or Proof of Work (PoW), have become common knowledge thanks to the efforts of these crypto communities in creating more accessible information. Through their collective advancement of knowledge and education, crypto communities have proven to be a significant driving force for the blockchain industry.

Due to the borderless nature of crypto, communities often exist online and communicate through discussion forums, chat rooms, and social media. For example, the crypto Twitter community is a niche group of investors, developers, companies, and influencers, each championing their own crypto cause on the platform.

Benefits of Joining a Crypto Community

Staying updated

Joining a crypto community is an excellent way to stay updated on new trends, technologies, concepts, products, and tools. This allows you to make more informed decisions and participate in time-sensitive events.

Finding a mentor

Throughout your research, have you ever encountered complex technical papers or Web3 publications? Being in a community of developers, crypto entrepreneurs, and other experts can help make certain topics easier to understand and research.

Gaining an edge

As part of an active community, you are given an edge by having access to the latest information that is yet to be widely known. You can gain insight into developing trends and learn from people with similar experiences. Additionally, a community's collective wisdom can help you make better decisions, network with other professionals, and stay updated on industry developments.

Customer service

Some communities have official administrators and managers. Rather than struggle alone, investors can receive direct feedback and assistance from members and administrators alike.

Starting a business

Informal conversations between community members could be the driving force behind new innovations. You can share business insights, discuss opinions, and exchange information through casual chats. Within a community, you might even find your future team members or business partners.

Sense of belonging

Are you team Layer 1 or Layer 2? Do you have a favorite NFT artist? Even if you’re the only crypto nerd in your friend circle, you’re bound to find others like you.

How to Join a Crypto Community

Explore projects and forums

As mentioned above, most projects and blockchains have their own established communities. To be part of the action, visit their websites or socials – including Telegram, Twitter, Discord, or Facebook. Alternatively, if you’re entering the crypto space alone with no specific community in mind, Reddit could also be a place to start. Reddit is an online forum where crypto enthusiasts can read crypto news, view user-submitted analyses, and participate in discussions. Some of the crypto communities on Reddit include /r/bitcoin, /r/btc, /r/binance, and /r/cryptocurrency.

Be vocal

Engaging in online conversations with others through the comments section of relevant crypto posts can be an easy way to find like-minded people. Share your opinions and interests; start engaging in discussions and activities.

Enroll in classes

Look for a Web3 course that interests you. Online or offline, the classroom can be a great place to start meaningful discussions about Web3 and form new connections. 

Meetups

Attending a blockchain or crypto-related meetup, participating in an online discussion forum, or joining a social media group are great ways to connect with knowledgeable people. Some blockchain events facilitate networking parties, business matchmaking, and AMAs. Participating in these can help you gain exposure and meet new community members.

Contribute to a project or cause

Find a community that thrives on participating in the development of crypto. The blockchain ecosystem is collaborative by nature – its tenets of borderlessness, open-source, decentralization, and trustlessness all help to foster collaboration. 

Many projects in the crypto space adopt an open-source approach, where the source code used to build their technology is available to the public and can be modified to a degree. This allows community members to provide solutions and innovations faster.

One such community is GitHub, an online platform that facilitates collaboration between developers and users. It allows developers to share code and work together on open-source projects. Users can also discuss ideas, give feedback, and offer assistance. Platforms like GitHub also organize events such as hackathons and meetings to promote community involvement.

It’s also not uncommon for projects to launch incentive-based events called bounty programs to encourage people to contribute to their growth.

What Are the Risks in Crypto Communities?

Like any other online community, crypto communities come with their own risks. One of the main risks associated with crypto communities is the potential for fraud. As mentioned, communities are often open to anyone. This means that scammers and bots can join the group.

For example, you may receive a direct message from someone claiming to be a group admin. Do take extra care to verify that this is not a scammer trying to get your money. Scammers may try to get your personal information or private keys through a malicious link or other types of cryptocurrency scams.

There is also the risk that the community will differ from what you initially expected. For example, the community may be based solely on hype to drive up token prices. This can create a culture of greed and speculation that may differ greatly from the original reason you joined the community.

Similarly, crypto communities can be filled with misinformation, making it difficult to separate facts. Therefore, be careful when making investment decisions based on community conversations.

Conclusion

Depending on your interests and experience, there are many ways to join a crypto community. Whether pursuing a personal financial goal, a new business venture, or an unfamiliar topic to learn, having a community to collaborate with can be helpful. Share insights, form a network of like-minded individuals, and grow from each others’ mistakes. You could even find your future business team! From bouncing ideas off each other to providing moral support, having people to help you is crucial for success.

Further Reading

Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.

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