Cryptocurrencies such as Bitcoin and Ethereum are examples of decentralized, peer‑to-peer virtual currencies. They can be used to purchase goods or services, typically online. They can also be exchanged for fiat currencies such as the Dollar, Euro, or Rupee.
In common parlance, they can be called electronic money. When anyone acquires a cryptocurrency, he/she receives electronic units representing a certain value. The value is dynamic and goes up or down as per market forces.
Unlike fiat or traditional currencies, they are not issued, stored, regulated, or protected by any government, credit union, central authority, or bank.
It is estimated that there are 4,500 different cryptocurrencies in circulation until now.
What is a cryptocurrency exchange?
A cryptocurrency exchange, or a digital currency exchange, is a business that allows customers to trade (Buy & Sell) cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies.
Online Reputation of Cryptocurrencies & Cryptocurrency Exchanges
- 71% Indians have zero trust in Cryptocurrencies; 1% have high trust: Survey
- 87% Indian families do not have anyone trading or investing in cryptocurrencies.
Why Online Reputation Management for Cryptocurrencies is important?
Cryptocurrency and blockchain companies are the future of trading and finance. However, gaining the trust of this 71% is a herculean task.
The success or failure of any cryptocurrency exchange will depend on how well they build and manage their online reputation. Trust and reputation will determine the goodwill and market capitalization of cryptocurrency exchanges.
Reputational Crisis and Cryptocurrency Exchanges
In an evolving uncertain and dynamic space, a reputation crisis is bound to happen; today or tomorrow. The moot question is are you prepared.
Now that you realize how crucial Online Reputation for Crypto is, let us try and understand some important factors
3 Important Factors in Online Reputation Management for Cryptocurrencies
- Review Management.
- Social Media Management.
- Content Marketing.
Review Management for Cryptocurrency Exchanges
Almost all cryptocurrency exchanges invariably require their customers to install apps. The trading happens on these apps. Any poor experience of a customer ends up as a negative review; this could be loud, over-the-top, malicious, and very public. A well-oiled mechanism to manage reviews both negative and positive will help you amplify positive reviews and minimize the impact of negative reviews. Review management must be your biggest priority.
Negative reviews have a snowball effect and can have serious implications for your brand. On the other hand, positive reviews and high ratings could be your success story.
Social Media Management for Cryptocurrency Exchanges
Social media provides a never-before opportunity to build trust and educate the target audience. When people understand how blockchain technology is designed to protect them and their interests and that blockchain and cryptocurrency are the future of finance, they will start reposing faith.
Facebook, Twitter, Instagram, YouTube, and Telegram are great platforms to reach out to your target audience. Your presence and how you manage your online reputation on these platforms could make all the difference to your business.
Content Marketing for Cryptocurrency Exchanges
Content marketing focused on building awareness and promoting cryptocurrency and cryptocurrency exchanges can drive leads and sales. This could be done via blogs, press releases, white papers, research reports, guest articles, social media posts. Leading publications such as CoinDesk, CoinTelegraph, CCN, News BTC, Bitcoinist could give your content a good reach. Interviews by company founders, executives, and marketing thought leaders are another good option.
Well, you more or less agree ORM for crypto is very important, what next!
Get in touch, that’s it. AiPlex will build and promote a trustworthy and credible image for your company. Right from monitoring brand mentions across the online space, digitally consolidating your brand, deletion of impostor and fake accounts, review management, SEO, PPC, and a lot more.
Concerned about your online reputation? Get your free reputation audit.