Despite all pessimistic predictions, cryptocurrency becomes more mainstream and doesn’t seem to be going anywhere anytime soon. No wonder, more and more crypto businesses and crypto projects emerge by the day in the hope of getting a piece of this lucrative pie. Still, with the growing competition and number of scam projects that undermine the reputation of crypto business as such, it gets tougher to stand out from the crowd, as well as attract investors, partners, and new customers. But if you put enough time, energy, and devotion in your new crypto venture and employ the right marketing strategies, the odds are good you’ll succeed in getting your crypto brand off the ground. Below are some great crypto marketing strategies you might want to consider for your future crypto venture’s success. And the best thing is that implementing these strategies doesn’t require any hefty investments.

Build a Loyal Community

By the ‘right people’ we mean those individuals who will heed your call for action and engage with your crypto brand. Building your audience is a laborious and time-consuming process, which might require you to create a dedicated environment where you’ll be able to effectively communicate your messages. This also imposes considerable responsibilities on you as an entrepreneur and creative manager. You need to be available virtually at any time of day and ready to give your community a piece of advice, address your followers’ concerns, and show your care for them on a regular basis.

Create Press Releases

If you think that creating press releases is an outdated practice, think again. Though with the advent of sophisticated digital marketing techniques, new businesses tend to underestimate this classic technique, it doesn’t make it less effective today. Just like business proposals you can now easily create with VistaCreate, a press release can be a win-win solution for crypto projects looking to establish both their online presence and credibility. To issue a truly strong and effective press release, you need to come up with compelling pitches, which can be then presented to social media influencers, YouTubers, podcasters, and analysts that have already established their reputation in the crypto world.

Expand Your Network

Even if you have ten loyal supporters that believe in you and your crypto business, make sure to capitalize on that. Encourage your community to keep on talking about your project and attract more members to it. For this, you can either create a referral program that will incentivize those members that can help expand your network or simply ask them to do you this favor for free.

If you have a mentor who has more influence in the crypto industry, you should also encourage them to spread the word about your startup. Again, your mentors can do this out of generosity and sincere faith in your startup or in exchange for reward. But since we’re talking low-cost marketing strategies in this post, let’s hope you won’t need to spend a lot of your hard-earned dollars on promotional service. That said, you might consider organizing free token giveaways, also known as crypto airdrops, from time to time. This will undoubtedly go a long way towards creating a loyal community around your startup.

Tap into the Power of Social Media

Any modern startup is doomed to failure if it doesn’t try to generate some buzz on social media. Of course, you won’t be able to establish your social media presence overnight but at least you start moving in the right direction. Go small and set up a separate page for your business on the most popular social media platforms. Don’t limit your choice to such tried-and-tested options as Instagram, Facebook, and Twitter. Try and cash in on the potential of Reddit, Discord, and even TikTok to attract the right demographics. Make sure to share relevant posts, images, guides, and stories using all available channels to catch your audience up on what’s going on in the world of crypto business and what’s happening with your project.

These are only some ‘lightweight’ marketing tactics that will help you earn your place in the sun and reach a multitude of crypto holders. And, undoubtedly, you’ll manage to devise your own strategies and hit on more effective tactics as you go along. So, go on to promote your crypto project and don’t let temporary setbacks discourage you from making your brand viral!

Today, numerous cryptocurrencies are circulating on the web. The main one is Bitcoin, closely followed by others like Bitcoin Cash, Ethereum, Ripple, and Litecoin. New cryptocurrencies appear every day and, with them, speculation of high profits. Businesses have also started accepting cryptocurrencies as a form of payment.

Creating your own cryptocurrency can help you reach a broader audience that prefers using virtual currency for online transactions. You should look for the best cryptocurrency development services to develop a virtual currency that can be used for several transactions in your business. You will also minimize the high transaction costs for your business and offer a safe payment method. Cryptocurrency is the future of finance and online transactions. In this article, we help you understand more about virtual currencies and the prospects of their development.

What is cryptocurrency, and what is it for

A cryptocurrency is a form of digital currency or virtual money. However, it goes far beyond that. Cryptocurrencies have several security mechanisms based on cryptography: they are codes that generally guarantee safe transactions.

Therefore, cryptocurrency consists of a virtual code that is converted into actual values, through Internet trading, without intermediaries, a legalized monetary system, and without submitting to any financial institution. It is purchased directly from a person or company that owns it or from an issuer.

How does cryptocurrency work?

Quotation, sale, and purchase of cryptocurrencies occur on the Internet anonymously. Cryptocurrencies are stored in wallets and managed on a computer or a mobile device. The secret of cryptocurrency technology is the “ protocol of trust” – blockchain. This way, records and information are shared with decentralization and security measures.

What is Blockchain?

Blockchain consists of an endless list of cryptographically protected records or blocks. The complex process involves hashes that link blocks, date, time, and trading information.

It is an open book that shows the digital currencies transacted and the operations’ data. It is a decentralized system and does not require a server. Thus, no financial institution or physical place is used for trading or redeeming cryptocurrencies. Everything takes place in a digital environment.

How is cryptocurrency produced?

Through mining. Thousands of computers are specially assigned to this task, as it requires high machine performance.

To trade cryptocurrencies, you must create an account with a digital currency trading company. It’s a free procedure, and you must know how many virtual currencies you want to buy or sell.

Thus,  cryptocurrency transaction is direct and practical, with cryptos having the same function as cash: sale and purchase negotiations. Nowadays, most big companies accept payment in cryptocurrencies, especially in Bitcoin.

The future of the cryptocurrency market

Much has been speculated about the future of cryptocurrency in the market. Some consider it an imaginary wave, a bubble, like the famous case of the Tulip Bubble, which occurred in the 17th century in Holland. At the time, the first ones won a lot of money, and all the others just won stuffed tulips with almost no value.

However, despite the decline of the cryptocurrency market in the last two years, numerous experts bet that they are here to stay. Bitcoin, for example, the leader of digital currencies and one of the forerunners of this type of money, reaches record prices. It is the “star” among cryptocurrencies, the most famous and most traded. However, other digital currencies have been standing out in recent times.

Therefore, crypto assets are forms of investment that continue to shake the financial market, despite the risks and significant fluctuations.  Furthermore, cryptocurrency technology, especially Bitcoin, continues to develop. Satellites already transmit the Bitcoin network to the entire planet free of charge, for example.

Bitcoin and its prospects

Since its inception, Bitcoin still dominates the cryptocurrency market. It is the most promising and the one in which the most investment has been made in terms of technology.

Many financial experts comment that there has been a growing interest in blockchain and the cryptocurrency market. However, the frequent fluctuations of cryptocurrencies tend to continue, while governments have become concerned about the security and legitimacy of digital currencies.

Even with the crypto bear market in full swing, it is hard to ignore the fundamental developments in Proof-of-Stake (PoS) blockchain environments. Most notably, the Polkadot ecosystem, a brainchild of Ethereum co-founder Gavin Wood and now run by the Web3 Foundation has stood out over the past two years. Currently, there are over 27 parachains on Polkadot, with 11% of the total supply of DOT tokens locked in parachains and crowdloans. 

But before diving into the outstanding projects that are building on Polkadot, it is worth noting that this PoS network is quite different from the average smart contract blockchain. Unlike Ethereum, Polkadot touts itself as a Layer 0 blockchain, thanks to its relay chain which acts as the base layer. Meanwhile, Polkadot’s signature parachains are distinct blockchains that run in parallel while achieving consensus and security via the network’s Relay Chain.

Given its underlying architecture, Polkadot has gradually become a darling to crypto innovators in search of interoperability solutions. The big question, however, is which projects stakeholders ought to follow closely? In this article, we will break down four Polkadot-based projects that are worth crypto natives’ time based on their fundamental value proposition and overall growth. 

1. Acala 

Acala is a DeFi network on Polkadot powering the aUSD stablecoin; this layer-1 parachain is scalable and allows developers to leverage the full power of the substrate infrastructure while accessing other smart contract blockchains such as Ethereum. Most importantly, the aUSD token is designed as a decentralized stablecoin backed by several assets, including DOT, DOT derivatives and other cross-chain assets like ETH or BTC. 

So, how exactly is aUSD of value to DeFi users? This stablecoin can be minted by placing a Collateralized Debt Position (CDP) using accepted reserve assets; DOT, Acala, BTC and Ethereum-native assets. Once minted, the aUSD stablecoin allows DeFi users to access a wide range of products, both on Polkadot and other interoperable blockchain environments like Ethereum. All without relying on cross-chain bridges or wrapping the aUSD tokens.

So far, Acala has received and completed 3 Web3 Foundation grants. The project also enjoys the backing of over 35 investors, alongside 1608 commits on github. It is currently one of the biggest stablecoin innovations in DeFi, competing with the likes of MakerDAO’s stablecoin, DAI. 

2. t3rn 

t3rn is another Polkadot-based innovation that is solving a major challenge in DeFi; smart contract interoperability. By design, the t3rn ecosystem offers a frictionless multi-chain smart contract hosting environment, featuring fail-safe mechanisms to guarantee successful executions. What’s particularly interesting about t3rn is the platform’s registry, anyone can contribute to its open-source repository and choose to get remunerated whenever their code is executed.

As you can see from this infrastructure, t3rn’s approach to open-source development is tailored on collaboration and fair rewards for the developers who wish to contribute. But above all, the platform’s native features of interoperability, fail-safe mechanisms and composability open up new possibilities in the development and execution of smart contracts. Imagine an interoperable DeFi platform where code can be re-executed on the Circuit, not to mention the ease of designing new smart contract ecosystems. 

Like Acala, t3rn has had its fair share of success, the project recently raised $6.5 million in a strategic funding round led by Polychain Capital. Other notable investors who participated include Blockchange, Lemniscap, D1 Ventures, Huobi Ventures, Figment Capital and Bware Labs. 

3. Polkastarter 

Raising funds in any market has never been easy; the Polkastarter DEX changes this narrative by enabling DeFi projects to raise capital through cross-chain token pools and auctions. Founded in 2020, Polkastarter was launched as a permissionless DEX on Polkadot to provide a decentralized launchpad for blockchain projects at a cheaper expense compared to centralized markets. 

However, unlike Uniswap’s IDO/IEO model, Polkastarter introduced a fixed swap auction model for native tokens issued at the initial supply. This means that DeFi projects in search of capital can launch a token on Polkastarter and create cross-chain token pools at a fixed purchase rate for tokens. The swap pools are designed to keep the token price stable during the sale until the initial supply is purchased.

As of writing, the Polkastarter DEX has enabled the funding of 111 ideas, totaling $49.7 million in raised capital. It is also noteworthy that the sales span across several blockchain networks, including Polkadot, Ethereum, BNB chain, Polygon, Avalanche, Celo and Solana. On December 15th, Polkastarter will be hosting an inaugural Web3 gaming awards event dubbed ‘Gam3 Awards’. 

4. Moonbeam 

Moonbeam is an Ethereum-compatible parachain built on the Polkadot blockchain. Ideally, this specialized Layer-1 chain mirrors Ethereum’s interface, allowing Polkadot users to leverage tools such as Metamask, Truffle, Waffle, Hardhat and Remix. The ultimate goal is to enable a DApp environment where solidity smart contracts developed on Ethereum can be used on Polkadot with minimal configuration changes. 

With both Ethereum’s and Polkadot’s DeFi hub showing strong signs of resilience, Moonbeam has positioned itself as one of the DeFi innovations to watch in 2023. As it stands, this Polkadot-based project has received and completed two Web3 Foundation grants and enjoys the backing of 16 investors. In addition, there are over 1627 commits on github, with a total of 32 contributors who are currently active. 

Conclusion 

Despite the uncertainty in crypto markets, fundamental development is still going on; think of it as the wheat being separated from the chaff. Value-oriented blockchain networks such as Polkadot will certainly bounce back once the dust settles. This being the case, crypto stakeholders who are in the game for the long term ought to be scouting for the next gems. The few projects highlighted in this article are just some of the examples, a whole lot more is in the works and will be appreciated in the next bull market.