Have you ever wondered why someone is promoting cryptocurrency? You’re not the only one who feels this way. It’s difficult to distinguish actual reason from that of the average internet fraudster in an industry riddled with grey zones, rug pulls, and exit scams.
You’ll have enough food at the end of the article to assess whether or not shilling is fruitful.
Shilling is a word for the shameless and excessive advertising of a coin or token. Shilling is usually done to lure potential investors, resulting in an increase in buying activity and a rise in the market price. Individuals may also shill a cryptocurrency if they have been paid to promote it.
Shilling is somewhat of marketing for crypto-currency. If done correctly, wallet holders can grow substantially as their message spreads over social media and other online channels. As wallet holders increase, the volume also increases.
So, how can you effectively shill crypto in the right way? Here are some pointers:
- Provide genuine and authentic information
- Provide Reliable Tokenomics
- No Spam
- Don’t downgrade other projects
- Provide real use cases of the coins
Why Crypto Shilling is effective:
As long as people feel you’re providing something reasonable, they are willing to hear about it especially when it’s a project with as many real cases of implementation and a big community.
Listen!! It’s not rocket science. Provide authentic information and real use cases! You are good to go. People are genuinely more receptive when they feel they are being provided value.
Let’s not forget that even Elon Musk shills doge (No No not Tesla) and Bill gates shills Microsoft and these guys have done great in the professional career.
This isn’t to argue that every crypto influencer is a paid promoter. Influencers are important in the crypto world because they can implant a concept into the minds of their viewers.
While some promote projects in which they have investments, others act as advocates for cryptocurrency in general. Some Bitcoin influencers, such as Saifedean Ammous (author of The Bitcoin Standard), the Winklevoss twins (founders of crypto exchange Gemini), MicroStrategy CEO Michael Saylor, and Tesla CEO Elon Musk, serve as defenders of crypto against its skeptics.
Everyone has their own opinion on what constitutes a shill. Sometimes, we can see the use of shilling when a person makes negative, sometimes false, accusations about a specific cryptocurrency. A Shiller may want to compete for crypto to fail so that his or hers becomes more valuable.