YouTube has had a significant influence on the globe. It has revolutionized how information is shared and taught people of all ages about essential things in the world. Bitcoin is one of these unique creations that can help change our society into a better place! Click here for more essential cryptocurrency tips
YouTube has played a vital role in popularizing politics, cartoons, music, etc. But it has been a real challenge to penetrate YouTube with bitcoin due to censorship by Google, which owns it. However, some bright Youtubers have explained bitcoin and blockchain technology in their videos.
Cryptocurrency has influenced the way people use currencies as it is a digital currency that only exists in the form of data. As you know, information traveling at light speed can easily cross international borders without being stopped or controlled.
Seven ways how YouTube helps in the popularity of bitcoin
Satoshi Nakamoto, the inventor of Bitcoin, has created this digital currency to give people financial freedom. Here are seven ways how YouTube can help in it!
1. Youtubers recommend bitcoin videos
There are plenty of crypto YouTubers who make videos on different topics related to bitcoin. These channels consist of everything like the latest news, digital currency mining, bitcoin trading trends, etc. by doing this, they are helping people to know about the coin and how it works.
2. Youtubers explain bitcoin basics
So many YouTubers have explained everything in detail about bitcoin through their videos. They have covered every topic about why you should invest your money in digital currencies, how it works, trading bitcoin, etc.
3. Youtubers show people how to buy bitcoin
YouTube also shows you how to buy bitcoins on different platforms like ATMs, blockchain wallets, coin base, etc. These videos help show people the practical ways of buying bitcoin with fiat money.
4. Youtubers show bitcoin price in real-time
Some Youtubers talk in their videos about the current price of bitcoin. This also helps them when they think of investing in the currency.
5. Youtubers give out free bitcoins
Some channels give away free bitcoins to their viewers. Watching these videos, people learn how to earn through bitcoin and other digital currencies.
6. Youtubers make people aware of the benefits of using bitcoin
They talk about all the positive aspects of using bitcoins like you can buy whatever and whenever you want, no restrictions on international transactions, and the currency is highly secure.
7. Youtubers show people how to use new technology
The currency has been created using blockchain technology, differentiating it from other currencies. Some of these videos explain how it works and what its benefits are. It also talks about the role of mining in digital currency transactions. YouTube is a content platform that allows everyone to get information about bitcoin. Newbies and beginners can use it to understand the basics of bitcoins.
3 Negatives that affect bitcoin due to YouTube
Although YouTube can help spread knowledge about bitcoins, a few negatives have risen due to the platform.
1. Scams and frauds
There have been several instances when people were lured into investing their money into bitcoin Ponzi schemes, which was a scam in the end. You also come across many videos that might ask you to give away your bitcoins in exchange for a share in the profit.
2. Misleading information
Many videos show how to buy bitcoin at low prices and sell them when they go up, tricking people into buying low and selling high.
3. Disrespect towards other coins
There have been several instances when people have used derogatory language for other coins on YouTube. Some even make videos showing how a particular currency will crash and why it is not worth investing in.
YouTube brings out both benefits and drawbacks of bitcoin by spreading information about the digital currency to a broader audience. It might influence newbies, but they should always be careful.
Conclusion:
In the end, it is safe to say that YouTube has helped people understand bitcoin better and what its benefits are. It can be a great platform to help people but always make sure that you don’t fall into any scam or get involved in anything illegal. Proceed with caution!