The online news and entertainment service Reddit, whose users can share any kind of information with each other, was created in 2005. The site itself calls itself “the first page on the Internet” and this statement is quite justified. In the ranking of popular American sites, Reddit ranks sixth, and globally – 18th.
The site itself has a lot of sections called subreddits. They are dedicated to various topics, among which there are many related to cryptocurrencies. Subreddit subscribers can share content with each other, discuss it and vote on the posted posts. In fact, it is a social media platform where everyone can find a section by interests and a lot of like-minded people.
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Cryptocurrency subreddits
There are 12 sections on Reddit dedicated to blockchain and cryptocurrencies. The community is expanding rapidly and a few days ago the number of subscribers to the section dedicated to bitcoin r / Bitcoin exceeded 1.2 million. Other crypto subreddits, such as Monero, also have a large audience, where you can find information for example how to convert 1 xmr to btc.
Traffic growth
For the entire cryptocurrency market, 2017 was a real test of strength, and accordingly, the attendance of crypto-subreddits was falling. However, traffic growth resumed, which could be a positive sign for the entire market and a signal for the formation of a bullish trend. According to CoinMarketCap, in 2018:
- the price of the first cryptocurrency went up sharply;
- other tokens began to rise in price.
Accordingly, the interest of the Reddit audience in cryptocurrencies has grown. In 2019-20, the growth of subscribers to cryptocurrency subreddits continued, which made r/Bitcoin the most popular crypto community with over a million audiences.
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Role of Reddit in the crypto community
The growing popularity of cryptocurrency subreddits, according to crypto experts and analysts, is very good news for the industry, because it is an indicator of the development of the industry as a whole.
Despite the low rate, people follow and people are interested. This means that there are enthusiasts who still hold and believe in crypto, believe in technology, which is good news.
It is also noted that the growth in the number of subscribers to crypto subreddits shows in general the interest of the community in the cryptoindustry, as many use threads as news sources.
Therefore, it’s safe to say that Reddit is of huge importance to the crypto industry. After all, this is a platform where both beginners and professionals can get the necessary information, share their knowledge and opinions, participate in discussions and follow the latest industry news. Thus, with the help of the platform, each participant in the cryptosphere contributes to its development.
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As for the subreddits of Monero, there are a huge number of them. The most popular are:
- r/Monero;
- r/xmrtrader;
- r/MoneroMining;
- r/Cryptocurrency.
Here you can ask any question you are interested in and get a true answer.
