What social media do crypto people love? Where do people get crypto news?

Author: Lim Yu Qian, Coingecko; Compiler: Deng Tong, Golden Finance

What social media do crypto people favor?

The most commonly used social media platforms for crypto are X (formerly known as Twitter), Telegram, and YouTube, which accounted for 84.0% of the total responses from the crypto community in a survey. Another 15.0% of people mainly use Discord, Reddit, or other social media platforms, and the remaining 1.0% claim to not belong to any crypto social media.

While X is unsurprisingly the most popular crypto social media, only 41.7%, or less than half of the crypto community, considers it the main platform where they spend their time. This shows that although crypto Twitter is well-known and CT content and conversations are often cited or referenced for industry development, X is not the only online space where the crypto community mainly gathers.

The survey found that Telegram and YouTube are similarly popular in the crypto community. 21.5% said they spend most of their time on crypto Telegram, followed by 20.8% who spend their time primarily on crypto YouTube.

Crypto Discord was the primary social media platform for 6.8% of participants, slightly ahead of the 4.5% who primarily use crypto Reddit. This may be because Discord and Reddit are more widely seen as complementary social media platforms for the crypto community.

Meanwhile, only 1.3% of participants are primarily Farcaster users. The decentralized social media made a splash upon its launch and continues to gain traction, but it remains to be seen whether Farcaster can solidify its status as a mainstay among crypto social media platforms.

Finally, 2.4% of participants said they primarily use other social media that was not among the options provided. For example, several people mentioned 4chan, WhatsApp, and TikTok. More unusual answers included DeBank, Odysee, and GitHub.

Where do people get their crypto news?

The survey found that most crypto community members get news and information from social media platforms rather than news websites. 73.8% of people get most of their crypto-related information from X, YouTube or Telegram, while news websites lag far behind, with only 6.5% of participants using news websites as their main source of information.

The most popular source of crypto information and news is X, with 34.4% of participants relying on it. Specifically, among the 1,065 participants who mainly use crypto Twitter, 710 (66.7%) also consider it as their main source of information.

Crypto YouTube ranks second with a market share of 23.4%, surpassing crypto Telegram. Of the 531 participants who used crypto YouTube as their primary social media, 365 (68.7%) also got information from the video-sharing platform.

Another 16.0% said they got most of their crypto information from Telegram, making the messaging platform more than twice as popular as news sites. Of the 548 participants who primarily used Telegram as a crypto social media outlet, 312 (56.9%) also primarily consumed information there, which is slightly lower than the overlapping media consumption behavior on crypto Twitter and YouTube.

Overall, however, more than half of community members on the three platforms tended to get information from the social media outlets where they spent the most time, rather than turning to other sources.

Less popular sources of crypto information were Discord (5.3%), newsletters (3.8%), Reddit (3.3%), podcasts (1.6%), and Farcaster (0.8%). Finally, 4.6% indicated other main sources of crypto information, such as data analysis sites, personal contacts, 4chan, and research providers. Notably, many participants emphasized using multiple sources of information, rather than relying on a specific source.