As a community member, you have an overwhelming influence on the growth and ultimate success of your favourite crypto projects.
This influence is not just in your money in the project alone, but also in terms of active or passive support.
Because an active and supportive community could easily help a project gain much-needed exposure and attract new users.
In this post, I would be sharing with you the 5 ways you can support the growth of your favourite crypto projects without feeling burdened.
But first, you may be wondering…
Why should I even bother supporting my favourite crypto projects?
I love to talk and write about the projects I’m invested in or that I like a lot because:
- They’re relevant and useful to my audience. If I find a project that’s useful to you, I’ll share a post about them on social media or on this blog.
- I believe in or appreciate the project and want to support them in any way that I can. Usually, it costs me little to nothing to talk or write about them anyway.
- Most crypto projects are community-based, and I am a responsible community member.
- It may help my portfolio if they succeed, especially if I’m invested in the project. So, by supporting the project, I’m also helping myself.
Furthermore, marketing is expensive, and most teams don’t have the money to generate enough awareness for the project.
But with your support, the project can reach farther even with a low marketing budget.
I’m sure you can come up with other reasons of your own why supporting your favourite crypto projects is a good idea.
With that out of the way, let’s take a look at the…
5 ways you can support your favourite crypto projects
There are many ways you can support your favourite crypto projects by doing basic and fun stuff such as:
Let’s discuss each of them below.
1. Social media engagement
A simple and low-effort act such as liking, sharing, and commenting on their social media posts is sometimes all you need to do.
The more people like, share and comment on a social media post, the more the algorithm makes such posts visible to other people.
Therefore, when you do this, you’re helping them gain greater visibility or reach on social media networks.
And this costs you practically nothing.
So, make it a habit to always engage with the social media posts of your favourite projects.
Aside from capital, feedback is the next most important thing project developers need to continue delivering features and products that you will like.
Learn to share your constructive opinions, experience, and expectations of the project with the team.
Even if it’s a criticism of their work.
Make it as constructive and clear as possible and make sure they hear how poorly they’re doing or a particular feature works.
In fact, calling out a project team’s ‘BS’ constructively and holding them accountable is one of the best things you can do for them (and your investment).
Good teams take your feedback and use it to improve existing features and products or develop something new that you will like.
Without this feedback, it’ll be hard for them to tell what works best for you and what doesn’t.
As a result, you may not have an optimal experience with their product.
3. Community activities
Sometimes, project teams organise community activities aimed at growing their membership, attracting new users, or encouraging engagement.
You can participate in these community activities as a way of supporting the project and possibly win some rewards at the same time.
However, you may not be able to participate in all community activities, and that’s perfectly fine.
Sometimes, I find some activities to not be my cup of tea, so, I pass.
But as much as possible, try and participate in the ones that you enjoy or are within the scope of what you’re willing to do.
4. Mentions and recommendations
You may not want to actively go about promoting a project, but you can recommend or mention them in relevant conversations.
For example, if you’re talking to someone about crypto investing, you can recommend this blog to them for further research, if you believe they can learn some useful here.
You can even invite them to our Telegram group where they can ask any question or even request an article on any topic or project they’re interested in learning more about.
I sometimes recommend certain projects to other crypto investors if I see that they’re useful to them.
In some cases, you can even earn a referral or affiliate commission when you refer people to a project.
Resulting in a win-win-win situation for you, the project, and the people you recommend them to.
Most crypto projects use a proof of stake system where governance is based on users staking their tokens to be able to submit or vote on proposals.
Not participating, or at least delegating your voting power, in the governance of your favourite projects is civil irresponsibility.
You’re doing a disfavour to both yourself and the project.
Because a few participants will have greater power to influence changes for their selfish interests.
And their interest may not align with yours and may even hurt your investment in the long run.
When you hold a governance token, try to participate in their governance or at least, delegate your vote to a validator that represents your interest.
Furthermore, the more people participate in the governance activities of a project, the more decentralized and secure it is.
Check out my previous article elsewhere, Blockchain Governance: Is It Even Working? to understand the problem of low participation in governance.
Why many people don’t care much about community participation
Everyone recognizes the powerful influence an active and supportive community have on a project, yet, many don’t want to get involved.
Below are some of the reasons I’ve identified for a lack of community participation:
- No incentives
- Selfishness and greed
- The team is socially inactive
- It’s risky
- You can’t be active in every project
Let’s briefly discuss each of these reasons for low community participation below.
1. No incentives
In an age where you’re literally paid to do almost everything, it’s hard to expect voluntary community participation and engagement from most people.
Many would only promote a project if there are some kind of incentives such as free crypto giveaways, airdrops, and referral commission, involved.
If there’s no incentive whatsoever, they would not participate. It’s a f**cking “pay me to play” game, and you can’t really blame them.
After all, we’re all here mostly for the money, and you don’t expect someone thinking about their next meal to be concerned about some online community b*^#sh&t.
However, we can find a middle ground between taking care of our immediate financial needs first and supporting our favourite crypto projects.
For example, I have written about almost every project I use or like, and will keep doing so as long as I believe they’re relevant and useful to my audience.
If they have a referral system, I take advantage of that to earn, and if they don’t I will still write about or mention them anyway.
You can consider adopting the same approach and in the long run, it will benefit you still if the project ends up doing well.
2. Selfishness and greed
Most people invest in projects, not because they expect or want them to succeed, but only as a quick money-making opportunity.
Their one goal is to buy into a project early enough and exit with as much profit as they can. What happens to the project afterwards doesn’t matter to them.
They’ll simply move on to their next “victim”.
These set of people don’t mind rugging the projects themselves and nuking it to hell as long as it helps their profit goals.
There’s no place for participating in community activities or promoting a project in their investment strategy.
Yeah, it’s not a sin or illegal to dump or use a project for your selfish gains, after all, we’re all here to make money. But it feels good to contribute meaningfully to something you’re part of or benefit from.
The industry would be a better place as a result and everybody wins in the long term.
3. The team is socially inactive
If you’re in a project where the team hardly post anything on social media nor tries to engage the community you’ll not have the motivation to participate or promote the project either.
After all, if they’re not promoting the project at all or engaging with the community, why should you?
If I were the one, I wouldn’t because the team could just be slowly exiting or abandoning the project.
But what if the real problem is that the team is only good at or can only focus on building with little to no attention to marketing, community building and engagement?
Furthermore, they could be lacking in marketing skills or they just can’t spare enough time for community engagements without the actual development work suffering.
This is usually the case with those one-man team projects with limited resources to employ paid help.
In that case, a community member with some free time to spare can step up to help and who knows, that could be your first step to getting employed when the project gains ground.
Most project developers would even compensate you for such voluntary efforts on an ongoing basis, but usually without any employment commitment in the short term.
4. It’s risky
You could lose your reputation by promoting useless, failed, or scam projects. And this is the reason some people don’t like promoting any project at all.
Promoting a project requires a strong belief in its fundamentals, the team’s commitment to its long term success, and an assurance that it’s not a scam.
Imagine that you passionately promoted LUNA to your friends, family members, colleagues, and social media followers back then when it was all butter and bread.
After the crash, you would be terribly embarrassed seeing how those people lost 100% of their money, thanks to you.
You can’t give 100% assurance of any project, not even the team can. But before promoting any project, try and understand how it works and the risks involved.
Then make sure to communicate these risks to your audience and let them decide if they want to take the risk with you or not.
That way, if anything goes wrong along the way, nobody will accuse or blame you as they knew the risk and made a choice to take it.
5. You can’t be active in every project
Most of us are invested in several projects that we truly like, and it’s impractical to be actively involved in the community activities of all of them.
This is perfectly normal., and remember, there’s no obligation in this.
You only follow up with and participate in the community activities that you can or truly enjoy.
You can support your favourite crypto projects in several low-effort or less demanding ways such as by:
- engaging with their social media posts,
- providing them with valuable feedback,
- participating in community activities,
- recommending or mentioning them in conversations, and
- participating in governance.
Doing these seemingly basic things could go a long way to help a project gain traction quickly.
However, there could be situations where you’re in doubt if a project is worth supporting or not.
In such cases, just be sure it’s not an outright scam and make sure to communicate all the associated risks to your audience.
Then let them do their own research and decide for themselves whether to invest in the project or not.
Click here to read how to do your own research and make great crypto investment decisions
Furthermore, if you’re not confident that a project is not an outright scam, then do not risk your reputation by promoting it.
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