Survey shows 73.8% of crypto users rely on social media for news and information.
Key Takeaways
- 84% of crypto users prefer X, Telegram, or YouTube as their main social media platforms.
- 73.8% of crypto community members obtain news primarily from social media rather than news websites.
The most used social media platforms by crypto investors looking for information are X (formerly Twitter), Telegram, and YouTube, according to a CoinGecko survey. Together, they account for 84% of the crypto community’s responses in the survey.
X leads with 41.7% of users spending most of their time there, followed by Telegram at 21.5% and YouTube at 20.8%.
Discord and Reddit are less popular, with 6.8% and 4.5% of users respectively considering them their primary platforms. Farcaster, a decentralized social media platform, is the main choice for only 1.3% of users.
The survey also revealed that 73.8% of the crypto community obtains news and information primarily from social media platforms, rather than news websites. X is the top information source for 34.4% of participants, followed by YouTube at 23.4% and Telegram at 16%.
News websites lag as the main information source for just 6.5% of participants. Other less popular sources include Discord, newsletters, Reddit, podcasts, and Farcaster.
The data suggests that while X is well-known for crypto content, it’s not the only significant online space for the crypto community. More than half of the users across X, Telegram, and YouTube prefer to obtain information on the same platform where they spend the most time.