07 / 23 / 21
HOW TIKTOK CRYPTOCURRENCY INFLUENCERS ARE TEACHING A NEW GENERATION OF INVESTORS
Everything around us is changing and so is the financial world. Since the change is enormous, it is also important to use modern ways of spreading the message. For instance, youngsters are not interested in piling up silver as their savings because it is just too outdated for this decade. We now have digital assets in play and traditional commodities will eventually lose value.
The millennials understand it and are most eager to get into the crypto sphere. Therefore, in order to influence and guide them, we cannot stick to traditional modes like newspaper and television and its pinnacle to use modern communication tools, such as TikTok, Instagram, and Snapchat.
While TikTok has cast plenty of negative trends on millennials in the last few years, some groups have finally started advocating and educating people about cryptocurrencies and VirtualBacon happens to be one of them. The coverage areas span the following domains:
– What is crypto
– Basics of investing in a volatile asset
– Trading on centralized exchanges
– Creating and securing digital wallets to keep assets
– Evaluating a project on its fundamentals to gauge its sustainability in the market
Please note that apart from TikTok, they also operate a Discord channel and educate the masses about crypto. Just to give you more confidence, it is worth mentioning that one of their followers managed to increase his wealth from a mere 2500 GBP investment to a whopping 100,00GBP in less than 12 months.
One of the primary reasons why crypto investors tend to go for social media platforms is because this digital asset is highly dependent on social media. If you have been in the industry for a while now, you must already know that in the last few months, Elon Musk shook the entire industry by several folds with one-liner tweets.
Therefore, despite being a decentralized asset, cryptocurrency is highly dependent on social media and is quite volatile as well. While this factor generally makes most people skeptical, TikTokers have started using this trait in their favor to allow their followers to increase their wealth and this trend is gaining traction.
Another important factor as to why crypto is continuing to gain popularity among millennials is because younger people are more motivated to invest in riskier assets because the returns are in multiples and in a much shorter time. Therefore, since the thrill is mutual, both Tiktokers and investors are reaping the benefits.
According to statistics conducted in April, 48% of the participants under 30 years of age said they used TikTok. If millions of people in that age bracket get influenced and invested at this time, their portfolio would skyrocket in the next 10-15 years and that is why everyone needs to take this crypto buzz seriously to cash out the profits later.
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