Why Participating in Online Crypto Forums is So Crucial
When launching a business every business owner, a marketing team puts a purpose to increase the PR and rankings of the brand as much as possible.
Overall, increasing a company image requires quite a lot of effort and budget. Especially today, when you have numerous competitors and they have already spent much money on building their authority in the online business world.
When it comes to the online cryptocurrency world, the situation is even tougher. In the case of building a crypto business from scratch requires not just much money and effort but also requires much knowledge on the top specifications regarding the crypto industry.
Simply because if you do not have one, you can fail even if you spend millions on building it.
So participating in online crypto forums is definitely one of your key business benefits of increasing your brand’s PR with less or even without spending money.
For example, one of the fastest-growing crypto ecosystem brands — J2tx recently took part in one of such online forums that were held on February 20–21 in Moscow.
Let’s see what the forum was about and why it was quite beneficial to be a part of it.
Organization & the Forum
The forum on blockchain and decentralized finance (or DEFI) — called Synopsis 2021. The Global DeFi & Digital Economy Summit was held during the weekend — 20–21 Feb 2021 in Moscow.
All in all, it was one of the best interactive events in the blockchain industry and decentralized financial organizations since the beginning of the year.
Synopsis 2021 was a two-day event with a real blockchain and digital atmosphere. There were more than forty digital leading experts and speakers in the field from a lot of parts of the world. The event brought everyone together and created a real crypto space to delve into.
Topics of the Crypto Forum
What topics are trendy in the digital world today?
Cryptocurrency, blockchain, DeFi, and some others like this, right?
Exactly! By taking part in the forum people have access to some of the most trendy and important topics, particularly:
1. Decentralized Finance
Decentralized finance (or they are also called “DeFi”) is some type of more experimental type of finance. It refers to the shift from traditional and centralized financial systems into another type of finance that is being used by decentralized technologies (built on Ethereum blockchain).
Being quite new in the field, the DeFi ecosystem has launched quite various high-quality integrated protocols and financial instruments to make the system work.
Today, the system is worth more than $13 billion worth of value that includes Ethereum smart contracts. Decentralized finance is already the most active field in the blockchain universe. People of various professions already worldwide use this advanced financial system. For example, for most business individuals, financial experts, developers, institutions, and digital-lovers it’s one of the most favorite digital systems nowadays.
So what is the key difference between traditional and non-traditional financial systems?
The traditional financial system runs on a centralized infrastructure.
What does that mean?
That means that our traditional financial system is managed by central authorities, banks, institutions, and intermediaries.
On the other hand, the top-notch decentralized finance system is powered by a coding system and is running on the decentralized infrastructure of the Ethereum blockchain. Based on the smart contracts on Ethereum, it’s amazing that the DeFi developers can launch financial protocols and platforms in the way that it doesn’t look like traditional finances with variations. Instead, it runs as programmed and people having access to the Internet worldwide can get into it.
Also, one can put crypto-assets to use in ways not possible with fiat or “real world” assets.
But what does this mean? Simply that the decentralized exchange platforms, synthetic assets, and flash loans are totally new applications. They can only exist on blockchains in not a traditional way. So this breakthrough financial system has a lot of perks concerning financial risks, trust, and new opportunities.
All in all, decentralized finance is an experimental form of finance so that is why many forums discuss it and many DeFi-experts strive to take part in various kinds of digital forums and discussions.
2. Yield Farming
Yield farming is another topic that was discussed during the forum in Russia.
If you are new in the field, you should know that yield farming is the practice of lending crypto assets to generate high returns or earn money in the form of non-traditional — crypto money.
This term is interconnected with decentralized finance. It has gained popularity quite recently. The reason is its further innovations of, for example, liquidity mining.
Yield farming is one of the top growing sectors in the DeFi industry. It assists in raising the market cap of $500 million to $10 billion in 2020.
In short, yield farming protocols provide some motivation to the liquidity providers (LP) to stake or lock up their crypto assets in a much better and smart way. This kind of motivation can be in the face of earned transaction fees, interest from lenders, or a governance token. The more investors add funds to the related liquidity pool, the bigger the issued returns become.
However, let’s not forget that yield farming can be incredibly complicated and complex at the same time. It includes quite an undefined financial risk for both parties — borrowers and lenders.
Also, keep your eye on the smart contracts.
Because they become one of the top reasons for vulnerability. So one should meticulously read all the protocols’ smart contracts. These coding bugs can happen because of the fierce competition between protocols. Time is your enemy though. The essence and new contracts (plus the features) are often underestimated, not carefully read, or even copied from predecessors (or even competitors). So be careful here, especially.
3. Non-Fungible Tokens (NFT)
A non-fungible token (NFT) — this is how it’s called the next topic of discussion.
A cryptographic token representing something unique, and having a special characteristic setting it apart.
All in all, imagine you are an art-lover. The more valuable your art is the better you feel yourself (well, at least), right?
The same is here — if you own an NFT you own a collectible antique piece of unique art. So one can conclude that non-fungible tokens are some digital assets that generate value.
Each and every token is unique. So if you have two of them you cannot replace them with each other. For example, in the case of bitcoins it’s much easier but here — it is different — each token represents a unique value.
4. Digital Economy
Quite a lot of people talk about the digital economy today up to some way of apocalyptic exciting scenarios. :)
Every single detail of our economy goes for digitalization, automation, and breakthrough technologies.
However, sooner or later traditional aspects will be translated into digital ones delivering people convenience and state of the art development. It is inevitable!
In a nutshell, the digital economy is a term describing the influence of digital technologies on the ways of production and consumption in a newer way. It includes all the ecosystem — how the products and services are marketed, traded, or even paid for.
5. Digital Regulation
Digital management of the world has brought us a lot of digital regulations and digital infrastructures.
As a result, the digital children of digital development — digital applications now rule almost every single corner of the world.
Today, we have access to governmental services, mobile payments, games, music, movies, and many other life-related aspects due to those tech tools. So, basically digital regulation is an inevitable part of our lives so this is why this topic was among the forum topics.
We are now responsible for huge data that can save or ruin lives with a single touch of a button so it was worth it for sure.
6. Cryptocurrency Mining
Crypto mining is quite a popular topic nowadays in many online forums. You are familiar with Bitcoin mining, Litecoin, Ethereum, and other crypto money mining, or at least you have heard of them.
Let’s explore a little for the ones who are not that familiar with the terms.
If you are wondering “What is bitcoin mining?” or “What is cryptocurrency mining?”, here’s what you should know.
In short, “crypto mining” is a term related to the process of obtaining cryptocurrency as a result of some completed work.
But why do people mine cryptocurrency?
Simply because it’s one of the best ways to generate more money! Besides, it can also be a way to get to financial freedom.
What is more amazing — no government or a bank can control your budget, if everything is done perfectly, of course. That is why cryptocurrencies are among the most crucial topics for tech-lovers, investors, business people, and even cybercriminals (due to their security and non-transparency).
7. Crypto Exchanges & Trading
A cryptocurrency exchange is one of the top digital businesses worldwide nowadays. It’s a kind of business allowing its users and customers to buy and sell cryptocurrencies, exchange them from bitcoin to USD, ethereum to USD, or digital currencies for other assets (for example, fiat money or other digital currencies).
A cryptocurrency exchange is a marketplace when website owners or brokers can earn a lot of money. They allow you to buy or sell crypto money and charge money during the transaction. Simple and easy!
However, there are also other types of crypto exchange businesses. For example, Robinhood or eToro stress mostly on other digital assets like stocks. They allow the customers to purchase what they want digitally but with no cryptocurrencies withdrawal. You should delve deeper into the crypto world, cryptocurrency wallets, and other digital assets.
What Was the Format of the Forum?
Overall, we meet various types of forums in the world.
The Synopsis 2021 was held in the format of round table discussions, panel discussions, or even solo performances as well as some interviews.
One could benefit from the discussions and due to its wide format that included:
- More than 7 topics in the crypto and digital sphere;
- Over 40 speakers and leading experts;
- 70+ international partners;
- More than 20,000 participants from around the world.
Who Is This Summit For?
You are a newbie in this world? Or perhaps you’re an investigation, digital marketer, search engine optimization specialist, or just an economist?
Then this digital event was right for you!
As a result of the finished event, we can conclude that quite a lot of big investors, experienced traders, market analysis experts, economists, marketing specialists as well as crypto enthusiasts, or even college students were at the forum.
So if you have not managed to be a part of this crypto event, be more attentive not to miss it in the next year. It’s worth it! ;)
Where There Any Pleasant Surprises?
The short answer is — YES!
Besides enjoying the speakers and exploring the expertise of some of the leading experts in the field there were also some other enjoyable moments.
For example, there were many engaging giveaways and competitions where you could ask some questions, show your skills and knowledge and win your prize.
All in all, here’s how people could benefit from the event:
- Dynamic Interactions: It was one of the largest online interactive events not just in the history of Decentralized Event summits but also in the whole digital industry;
- Contests & Events: More than ten quizzes on the knowledge of the DeFi market were given to the participants;
- Giveaways: If you are new in this world, you can be surprised how big the giveaways were during the session. A fan of raffles and promising tokens? They were too!
- After Party: Are you a party-lover? Then you would love this! A Blockchain-themed After Party by Prometheus & Ruslan Sokolovsky was held at the event as well.
Hosts & Speakers
Here is the full list of the people who were at the digital event:
- Maria Stankevich — EXMO CBDO;
- Alena Afanaseva — CEO at BeInCrypto;
- Yan Khavanskiy — CEO at Coindar, Co-Founder Colibri Group, CVO at Bingbon Russia;
- Yaroslav Kabakov — CVO at Finam;
- Nikolay Zagvozdkin — Chief Editor at RBC Crypto;
- Maksim Sukhonosik — Xangle;
- Lihan Hyunwoo Lee — CTO / Co-founder at Xangle;
Here’s the list of the global speakers from the blockchain, cryptocurrency, and decentralized finance industries. It is also worth mentioning that many of them even run progressive cryptocurrency projects. Some of them are widely-recognized so we can conclude that the speakers are professionals in their fields: DeFi, cryptocurrency exchanges, trading, market analysis, marketing, economics, etc.
- Artem Moiseev — CEO at J2TX — a crypto ecosystem company allowing people to exchange BTC to USD, ETH to USD, or other crypto money and buy cryptocurrency with your credit card);
- Ruslan Sokolovskiy — Blogger & CEO at Prometheus, BitJournal;
- Wes Levitt — Head Of Strategy at Theta Labs, Inc;
- Jack Ge — Managing Director at CyberVein;
- Alena Afanaseva — CEO at BeInCrypto;
- Sami Tannir — DeFi Director at Conflux Network;
- Esmond Hwee — Head of Sales at ProBit Exchange;
- Changhak Yeon — CEO at BlockOdyssey;
- Evgeniy Pavlov — BDM at Binance Russia & CIS; Anton Kobrynets — CEO at Aeneas;
- Sangwoon Lee — Manager of Berry Culture;
- Yoon Kim — CMO at Elysia;
- Sota Watanabe — Founder of Plasm Network;
- Erez Ben Kiki — CEO at 2key Network;
- Amirsan Roberto — Co-Founder & Angel Investor at Sinofy Studio;
- Myrtle Anne Ramos — Founder of Block Tides, Co-CEO of Sinofy;
- Artyom Kan — Marketing and Business Development Manager at Gate.io Russia;
- Yemu Xu — Co-Founder & CGO ARPA, Bella Protocol;
- Jacob Kim — COO of XIGNAL;
- Raghav Jerath — CEO at Gather Network;
- Jason Kim — CGBO at SOMESING;
- Andrey Kisel — CEO at Cryptobrewmaster, CMO at Cryptex24;
- Pranay Sanghavi — Co-Creator of MahaDAO;
- Marie Tatibouet — CMO at Gate.io;
- Vladimir Gorshev — CBDO at ASLA;
- Sergey Turchenko — Co-Founder of Richamster;
- Anatoly Arzhantsev — Founder of Freedman Club;
- Dmitry Volkov — CTO at CEX.IO;
- Kiryl Lapski — PR Manager at Coffe.io, SMM manager at CrypTown;
- Lev Mirolyubov — Leader of Trading Community SkyPortal
Speakers of the Commission on Blockchain Technologies & Digital Economy of Russia
- Nikolay Gadzhiev — VEROS & WIDCI Charity Initiative Founder;
- Gleb Kostarev — Director at Binance Russia & CIS;
- Maria Stankevich — EXMO CBDO;
- Sergey Khitrov — CEO at Listing.help, Blockchain Life;
- Mikhail Tretiak — Digital Rights Center Legal Company IP/IT Practices Director;
- Nik Anikin — CEO at Colibri Group, Co-Founder Coindar;
- Yan Khavanskiy — CEO at Coindar, Co-Founder Colibri Group, CVO at Bingbon Russia;
- David Lolaev — Co-founder of Quube & SalAd lab;
- Sarkis Darbinyan — Roskomsvoboda NGO Chief Lawyer;
- Lihan Hyunwoo Lee — CTO / Co-founder at Xangle
Bonus Tip: How to Do Marketing for Cryptocurrency Businesses?
As you may know, the crypto industry is one of the sectors that require a careful approach. The same is concerning marketing strategy development.
Marketing experts work hard on finding some new and attractive steps to motivate the use of cryptocurrency and increasing the market. Here are some of the most proven marketing ideas one can use to promote the use of digital currencies as well as the brand itself:
- SMS Marketing: Nothing is better than approaching the audience directly.
- Telegram App: Create a channel and interact with your audience closer.
- Online Communities: That’s where online forums come to.
- Social Media Advertisements: Where to go without them?
- Display Ads: Be careful, usually this kind of strategy doesn’t work in the case of cryptocurrencies.
- Bitcoin Communities: Crypto forums, online groups, etc.
- Email Marketing Campaigns: This can be your loyal partner in the marketing strategy.
- Search Engine Optimization: This is one of the most effective and proven ways of boosting website visibility and rankings, so grab it!
In a nutshell, cryptocurrency online forums are a way of increasing your knowledge, experience, and sharing knowledge on the crypto world. So take part in such forums as much as possible.
Ask questions and listen — this is the only way to boost your knowledge.
Hopefully, the provided information will lead you through that tough process in the cryptocurrency sector.
The last piece of advice to you — explore, explore, explore!