Social Media Analysis Of Crypto Companies

Advent of 2008, marked new beginnings in the world of digital economy, the concept of cryptocurrency flourished the world and became more prominent with an unremitting increase in its price. But, do you know where did the cryptocurrency actually come from? Well, it was invented by Satoshi Nakamoto and was based on decentralized digital cash system and could be exchanged easily without any restriction. Today, that cryptocurrency is commonly known as Bitcoin.

So, here’s a thought; do you think digital currency would be this hyped as it is today if it wasn’t by the means of Social Media?

Let’s look it into as to how is the cryptocurrency gets influenced by social media.

Since, digital economy’s inception, social media played an important role in increasing the awareness of bitcoins and other cryptocurrencies on the sites like Facebook, Twitter, LinkedIn & Instagram that helped many to share their ideas, execution, and applications around the globe. Today, all the major social media platforms are stocked with various groups and channels that not only share the real-time information about the latest advancements & developments in the cryptocurrency domain but also help in operational development and advancement of this digital cash. The information about Bitcoins is easily shareable & affects the rise and fall of the Bitcoin price.

Stats show that the people are showing great interest regarding the cryptocurrency, alone the keyword Bitcoin had a reach of 379 million on social media in December 2017 which gradually dropped to 186million during January 2018 with a fall in bitcoin price.

cryptocurrencies Trends during Dec 2017

Trends during Dec 2017

cryptocurrencies trends during January 2018

Trends during January 2018

In India too, Bitcoin is the most talked cryptocurrency and its craze is rising quite rapidly. According to a report published Indian Express, a survey was conducted by the Income-tax department of Bangalore which disclosed that around Rs 17,800 crores have been traded in the form of 9 active cryptocurrencies and the most active age group that shows such trading is between 25-35 that is the enthusiasm of Indian youth.

India hasn’t legalized the concept of blockchain & digital cash yet, but there are several companies which act as a mediator to help you buy and sell the various forms of cryptocurrencies with a small amount of transaction fee. There are 3 types of cryptocurrencies which are traded in India, the most common among all those are – Bitcoin, Etherium, & Ripple and the top 3 companies who trade these currencies are listed below.

  1. Unocoin
  2. Zebpay
  3. Coin Secure

Let’s analyze these companies with respect to their social media

  1. Unocoin:
    Year Founded: 2013
    Cryptocurrency offered: Bitcoin

Unocoin is the most popular & trusted company providing Bitcoin trading in India where customers can easily buy the digital currency via their banks through NEFT & RTGS. The company is backed up with a huge number of investors in the United States & offers 0.7% of processing fee for a sufficient transactional amount. Unocoin is one of the oldest companies in India providing Bitcoin trading services. The trust among the people got strengthened because of the fact that Unocoin has a largest strategic partnership with Blockchain in India, which gives them a greater purchasing power along with secured transactions and user-friendly interface for trading via their wallets.

Traffic of Unocoin from Social Media:

Traffic of Unocoin from Social Media:

Source: Similarweb.com

 

Total Fan Base:

Facebook:

unocoin facebook analysis

Twitter:

unocoin twitter analysis

With an average posting of 2 – 4 posts per week Unocoin engages with its followers with the help of Gifs, Videos, Photos, links and various other contests. The audiences are highly interactive to the content. Unocoin mostly prefers to share information through photos, making people aware of the benefits of Bitcoin and its every aspect. On an average of 10 posts, only 2 posts are promoted and the engagements received are mainly organic.

  1. Zebpay:
    Year Founded: 2015
    Cryptocurrency offered: Bitcoin

Zebpay is another most trusted company which provides trading of Bitcoins but acts as a broker between the seller and the buyer. The process of buying and selling is made easy with the help of Android and iPhone apps and a wallet which can be used to store the bitcoins. The services of Zebpay are free yet they charge Rs.10 per transaction on withdrawals from the Zebpay wallet.

Traffic of Zebpay from Social Media:

Traffic of Zebpay from Social Media:

Source: Similarweb.com

 

Total Fanbase:

Facebook:

zebpay facebook analysis

Twitter:

zebpay twitter analysis

The fan base of Zebpay is comparatively less as compared to Unocoin’s. Also, the audience is more interactive with Unocoin than Zebpay. However, stats show that the social media traffic of Zebpay is comparatively more than Unocoin and the weekly postings are done on an average of 4-5 posts. The promoted posts are just 1% of the total weekly postings and the interactions made by the audience are mostly organic. The distribution of post types includes videos, links, photos & statuses.

  1. Coinsecure:
    Year Founded: 2014
    Cryptocurrency offered: Bitcoin

Based out of Bengaluru, Coinsecure offers Bitcoin wallet, exchange, trading and various Block Chain services in India. The key feature of Coinsecure is that it offers a mock or a dummy trading platform which allows people to try Bitcoin trading with dummy cash. The company charges a very small amount of transactional fees that is 0.3 % & the number of options through which trading can be done are IMPS, RTGS, NEFT & cash.

Traffic of Coinsecure from Social Media:

Traffic of Coinsecure from Social Media:

Source: Similarweb.com

 

Total Fan Base:

Facebook:

coinsecure facebook analysis

Twitter:

coinsecure twitter analysis

The coinsecure fanbase accounts for around 20.5K followers on Facebook and 21.8K followers on Twitter yet the audience engaging with the content is way less in number. The posts sent on the weekly basis are 4-5 and the percentage of videos and gif content are higher than the links and pictures. The company page videos give an insight into the Bitcoin and how the company has made it easier to transact on them but the analysis shows that the page is not really active to solve the queries.

Conclusion:

Unocoin being the oldest company & its collaboration with the Blockchain wins the trust of the people & they tend to engage more with the informative content of the company. On the other hand, Zebpay is another competitor of Unocoin that gets more traffic from social media as compared to the latter but lags behind in the number of followers (may be due to the lack of paid promotion done on the page). Coinsecure is less popular among the people and the result can be seen on their Facebook page but still, the company has managed to engage more audience on Twitter with its informative content and videos.

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