CoinMinutes' Strategy for Improving Crypto Communication Channels

Crypto‍‌‍‍‌ communication has been disrupted. In fact, it's very badly disrupted.

Maybe you have even felt this breakdown of communication yourself. A brand new project is initiated with a lot of hype. Everybody is talking about it. Then... silence. The team fades away. Community groups become the places where ghosts live. The updates stop.

We at Coinminutes Crypto have seen this so many times that we got tired of it and decided to do things differently. Not because we are wiser than the rest, but because we couldn't bear to see good projects dying just because they couldn't communicate with their users ‍‌‍‍‌properly.

Assessing‍‌‍‍‌ the State of Crypto Communication

Let's face it - most crypto-related initiatives are terrible at communicating with their audience.

Everyone's Scattered Everywhere

Where do you find crypto communities? They are scattered all over the place—six different platforms at least. Discord to discuss. Twitter for quick opinions. Telegram for short news. Reddit for arguments. YouTube for getting help.

People cannot keep up with the stuff that is happening. Important announcements get buried. Users throw in the towel trying to keep track of everything.

We've seen people doing the same thing: asking questions in three different places because they couldn't find the answers anywhere. That is very annoying for everyone that is involved.

Useful Reference: https://discord.me/coinminutes

The Jargon Problem

Crypto people are fanatics of their technical language. They use terms like "impermanent loss" and "validator nodes" as if everyone knows what they are. Hint: almost no one.

I can recall a time when I was going through a project's documentation and I thought that I have to have a computer science degree to understand even the basic features. That is definitely not the way to go. It only helps those who know everything.

Speed vs. Getting It Right

The world of Cryptocurrency is changing rapidly. The prices are different every second. New stuff is coming out all the time. People want to have the information straight away.

However, if taking the action too quickly it will be full of errors. The wrong info is spread much quicker than the rectifications. Once trust is gone, it takes very long to get it ‍‌‍‍‌back.

CoinMinutes' Multi-Channel Communication Approach

We use six main ways to reach people. Each one serves a different purpose. We don't just copy-paste the same content everywhere.

Twitter‍‌‍‍‌ for What's Happening Now

In a very short time, by our Twitter account, we put out information that is breaking news. If prices go up, we let you know. If there are changes or new rules in the market, we tell you. If there is an issue with security, we make you aware. We do it in a few words and do not copy the whole news, instead, we give the link with detailed information.

During market hours, we tweet about 10 times. On weekends, the activity on our Twitter account slows down to about 4 posts. People have different Twitter habits on weekends, so we adapt accordingly.

Weekly Newsletter for Deep Dives

Once a week we send out detailed analysis that actually explains what's going on. No surface-level stuff. We unravel intricate subjects using words that can be understood by any average person.

The rate at which people open our emails is higher than most of other financial newsletters because we do not consider our readers as mere money-spenders. Instead, we are sincerely making efforts to help people understand crypto better.

Discord for Real Conversations

We have a Discord server with around 15,000 people, who are usually active. It is the main point where the true talks arise. If any user has a question relating to the content of our article, they put it forward. We come in and give the answers.

The community is able to manage the majority of the time, which we think is very good. People support each other in such ways that we do not need to be present in every conversation.

YouTube for Visual Learning

What we do is prepare videos on a weekly basis explaining different concepts in crypto. Each of them is 8 to 15 minutes long. There is no promotional content in them - just education.

The scope of the videos reaches such topics as how DeFi works and what different types of blockchains are for. Most people watch the entire video, which indicates to us that our approach is right.

Website for Reference

On our website, we put together guides and data that people can save and go through later. There is a good search function. It also has information regarding the past. Things that are pretty hard to find elsewhere.

Users are spending quite a bit of time on our pages, which is an indication that they are getting what they came for, instead of leaving immediately.

Podcast for Deeper Talks

Once every two weeks, we produce extended episodes of podcasts with experts from the industry. 45-60 minutes of real talk about the current topics.

Developers, researchers, and business people are some of the guests. We refrain from anyone who is just trying to sell his latest ‍‌‍‍‌project.

Enhancing‍‌‍‍‌ Clarity and Accessibility

We rewrite everything for normal people. Our content is tested by people who are not Cryptocurrency Market experts. We have a system that measures the difficulty level of our articles.

Translating Crypto Speak

If we produce a piece of writing, we look for every one of the technical terms and either change it or give a straightforward explanation.

For instance, "liquidity pools", we refer to them as "shared money pots where people contribute funds to help others trade." A lot more understandable than the technical definition.

Adding Visuals That Actually Help

When you have a complicated idea, you can get it across with a chart, a diagram, or a screenshot. Anything that helps people get it better.

Good visuals have a huge effect on how much a piece of writing is shared on social media. The time people spend reading the article is also increased.

Different Languages for Different People

Main articles are translated into Spanish, Chinese, and Portuguese. These languages represent our largest non-English speaking audiences.

Readers from different parts of the world constitute nearly 50% of our total traffic. The translated material is performing really well in Latin America and Southeast Asia.

Fostering Two-Way Communication

We don't just talk to people. We actually listen and respond.

Quarterly Check-ins with Our Community

Every three months, we ask people through a survey about their expectations. What channels they use. What kind of information they need.

Approximately, one out of four people responds, which gives us valuable feedback. These questionnaires are the main driver of our content. When people demanded more DeFi education, we launched a six-part series explaining different protocols.

On-the-Spot Social Media Responses

We are everywhere (in comments, messages, etc.) on-platforms, addressing the inquiries and statements. In the time frame of 2-3 hours during the working days, it is done most of the time. We provide the answers in public if it is possible so that everyone is at the same level.

Moreover, some community members, as a result, take the initiative to solve the problem, thus creating a peer-to-peer learning environment, which is great.

Let People Offer Topics

Users must have the option to tell us the topics or the projects that they want us to cover. First, popular requests get implemented. We clarify the reasons why we don't cover certain things.

We complete about 70% of the reasonable requests. This gives us a chance to identify trends well before they become popular.

Leveraging‍‌‍‍‌ Technology for Better Communication

We automate the dull tasks that are part of our work to keep the team focused on producing quality content.

Automatic Alerts for Big News

Price alerts set up on a variety of our platforms result in notifications being propagated automatically across our channels. We set up intelligent thresholds so that people do not get spammed. Employees check everything that is going to be published.

In such cases, these responses are the next fastest after the events themselves. Users receive news within a couple of minutes after major market moves.

Publishing Tools That Work

Instead of rewriting the same content for different platforms, we write it only once and then are able to distribute it automatically to the respective channels. It is a time-saving tool and at the same time, there is no risk of inconsistency.

This is the team's weekly time-saving effort through automation, about 15 hours. The time is devoted to more research and community engagement.

Data That Helps Us Improve

We monitor the effectiveness of the content we publish on different channels. The most attractive topics receive more coverage. The topics that nobody reads are removed.

Monthly evaluations serve as a tool to determine the efficiency of the strategies employed and the identification of those that fail.

Bots for Basic Questions

Automated agents available on Discord and Telegram handle queries that are simple in nature and are available round the clock. For complex issues, a real person is assigned.

On the whole, bots are able to handle up to 60% of the routine queries without the involvement of humans. On the other hand, our team is allotted the time and resources to focus on those issues that require real ‍‌‍‍‌expertise.

Conclusion

Crypto‍‌‍‍‌ projects are heavily reliant on communication to the extent that their success or failure is largely determined by this factor alone, even more than the technology used.

Communication at CoinMinutes is considered as a kind of fundamental structure which is always in need of support. Various channels are used to connect with different people. Simple language is used to make crypto easy for everyone to understand. Listening to our community sincerely is simply great for everything.

Our ways of doing things are continually being upgraded based on the advice and the results of the work. The crypto world is changing rapidly and so, are we adapting our communication to that ‍‌‍‍‌change.

Find More Information: Coinminutes Crypto Explore the Latest in Digital Assets