Community is important in all aspects of life, and crypto is no different. If you can find a solid community with people you connect with, not only will it improve your trading and get you better information, it can also improve your well-being. For more on staying sane in crypto check out my other post here.
Trading can be highly isolating. Frequently, I notice toxic elements in crypto communities that add to this isolation:
–Unhelpful individualism, Greed and Scams – I see this all the time where people are just looking out for themselves and saying to hell with everyone else. Then there are also people who don’t mind stealing from you to line their own pockets. You may have guessed that this doesn’t build a great community.
–Prejudice – It’s probably not a surprise to anyone that crypto is dominated by White and Asian men. Sadly, like much of the other tech world, this often leads to excluding anyone who doesn’t fit that profile. The amount of sexism, racism, homophobia and other prejudices, that I’m sure a lot of us see in some crypto spaces is alarming.
–Insecurity – Unfortunately, many crypto communities seem to have a couple of trolls who are just plain mean and always jumping to make fun of people or put them down. A lot of this could be due to the fact that many of the crypto groups are virtual and people feel empowered to be an ass from behind their screen.
People often resort to the above tactics when they feel insecure, anxious, or trying to fit in. The the list of toxic behaviors absolutely hurts building community, and I would argue even hurts your gains. Often times people who have something valuable to offer will not feel comfortable speaking up and leave.
In my opinion, a well functioning crypto community has most of the following elements:
1. Look out for each other
The group works together and everyone benefits. It’s not only people trying to pump their bags or shill a pump-and-dump, but rather members sharing information for the benefit of the group.
2. Good information
Leadership within the group and prominent members, have systems in place to provide and filter information to the rest of the group. This helps both old-heads and newbies to avoid the scams and make solid choices.
I know this sounds simple and cliché, but it’s amazing how often this element is not followed. People make fun of newbies, use racist, homophobic, antisemitic, sexist, or any of the other prejudices to exclude members of the group. A wide variety of perspectives can improve the information that we’re getting and allow us to make better choices. Do yourself a favor and avoid the prejudices, and I bet it’ll make it easier to settle into a solid community.
4. Ownership and Contribution
When we feel a sense of belonging and ownership it usually makes us want to contribute more to the group. If we make people feel welcome (unless you’re a scamming asshole), then you may get a lot more out of the community in return. Don’t be afraid to speak up and offer to help out, even if you’re new. It creates an environment of stepping up and more ownership when you’re directly involved.
Much of this info is straight forward and I wish it did not have to be stated. However, too often, I see these toxicities in crypto communities. If you’re looking for a place to start building, we work to have all of theses elements in our ADAPTCrypto community Telegram and Discord.
Feel free to leave a comment below if you have ideas about elements that have been successful in your community.