Rebeca Moen
Aug 22, 2024 12:37
A survey by CoinGecko highlights that X, Telegram, and YouTube are the primary social media platforms for crypto enthusiasts, with 84% of the community using these platforms.
According to a recent survey by CoinGecko, the majority of the crypto community spends their time on X (formerly Twitter), Telegram, and YouTube. These platforms collectively garnered 84.0% of the responses from participants, showcasing their dominance in the crypto social media landscape.
X Dominates, But Not Exclusively
While X emerged as the most popular platform, it was the primary choice for only 41.7% of the respondents. This indicates that even though X is widely recognized for its crypto-related content and discussions, it is not the sole hub for the community. Other platforms also play a significant role in the crypto ecosystem.
Telegram and YouTube: Close Contenders
Telegram and YouTube followed closely, with 21.5% and 20.8% of participants respectively indicating these as their main platforms. Both platforms are crucial for real-time updates and comprehensive video content, making them indispensable for many in the crypto community.
Other Platforms in the Mix
Discord and Reddit, though less popular, still hold their ground with 6.8% and 4.5% of the participants respectively. These platforms are often considered supplementary but are essential for niche discussions and community building. Farcaster, a decentralized social media platform, was the main choice for 1.3% of respondents, showing some traction but still in its early days of adoption.
A small fraction, 2.4%, indicated the use of other platforms such as 4chan, WhatsApp, and TikTok. More unusual mentions included DeBank, Odysee, and GitHub.
Where Do People Get Crypto News?
The survey also revealed that social media platforms are the primary sources of crypto news and information. A significant 73.8% of respondents relied on X, YouTube, or Telegram for their crypto updates, while only 6.5% turned to news websites.
X was the most popular source, with 34.4% of participants depending on it for information. Notably, 66.7% of those who primarily used X also considered it their main information source. YouTube came in second with a 23.4% share, followed by Telegram at 16.0%. The trend indicates a preference for obtaining information on the same platforms where users spend most of their time.
Less Popular Information Sources
Discord, newsletters, Reddit, podcasts, and Farcaster were less favored, with shares of 5.3%, 3.8%, 3.3%, 1.6%, and 0.8% respectively. Interestingly, 4.6% of participants mentioned using a combination of sources, including data analytics sites and personal connections.
Methodology
The survey was conducted as part of the CoinGecko Post-Halving Sentiment Survey from June 25 to July 8, 2024, and included responses from 2,558 crypto participants. The results provide insights into the behavior and preferences of the crypto community but should be viewed as indicative only.
Among the participants, 69% identified as long-term investors, 18% as short-term traders, 7% as builders, and 6% as sidelined spectators. The majority, 87%, were based in Europe, Asia, North America, and Africa.
This study serves as an informative piece and is not financial advice. Always conduct your own research before investing in any crypto or financial asset.
For more detailed insights, the full survey results can be accessed on CoinGecko.
Image source: Shutterstock
