The cryptocurrency ecosystem and the blockchain technology behind it can be confusing.
Furthermore, with the phenomenal amount of digital tokens available across the internet – and the unfortunate scams – it makes sense to keep on top of the latest news, tips and investment advice.
Reddit is one of the most active discussion forums on the net, and there is a massive cryptocurrency community on the platform that has split off into scores of informative Subreddits.
So we thought we’d publish an article covering, what we believe, are the best Cryptocurrency Subreddits around.
First a quick overview:
Reddit In a Nutshell
What makes Cryptocurrency Subreddits a vital resource centre for investors, and anyone that is curious about virtual tokens is that the commentators that frequent these discussions are passionate about the future of digital assets.
However, they have two intentions.
The honest members, which is, fortunately, the majority, want to protect other investors from scams while creating a buzz around the coins they have purchased to increase the price.
On the flipside, they could be enthusing about coins they have invested in on the rumour of other people without actually understanding the currency or its potential themselves.
So if they are being scammed, they could be increasing the scam down to others unwittingly.
Therefore, don’t believe everything you read.
Always perform due diligence and back up any claims with your research, especially if you are considering investing in virtual tokens.
Even if you don’t understand the technologies behind cryptocurrencies, at least read the whitepaper of every company you intend to invest in.
Remember, there are a lot of ICOs that are destined to fail – chiefly because the company does have the relevant skills or knowledge to make an impact with their product. Then there are the projects that have been created with the intention of scamming people.
Either of these two scenarios should be evident in the whitepaper. If there is anything in the proposal that you are unsure about, put the question to the cryptocurrency subreddit you think is best suited to answer your question.
The replies you receive from these forums will help you build a better understanding of the coins potential as a store of value.
With critical information to hand, you are better placed to invest in a cryptocurrency you feel confident has plenty of potentials.
If you’re still not convinced whether Reddit is a reliable source of information around cryptocurrencies, check out what Quora members have to say as well.
You can also read more about the cryptocurrency investing process in our free eBook – The Ultimate Guide To Successfully Invest in Altcoins and ICOs.
The Best Cryptocurrency Subreddits
Boasting more than 9000 active online users in a day, this is the most significant cryptocurrency community on the platform despite shedding a few hundred subscribers in the last few months.
The topics discussed on the Reddit/r/bitcoin forum have a broad and diverse range but never stray far from financial news and cryptocurrency.
However, the discussion is not limited to Bitcoin as the group name implies.
The title of this group needs no explanation from us. What we can tell you though is subscribers are free to ask any questions about bitcoin without fear of going unanswered.
All new questions feature on the front page, and there are a plethora of experts to explain the technical details and masses of other investors that will tell you about their experiences.
Great place for beginners to pick up tips and allay fears.
If you are interested in Ethereum, you should also look into r/ethtrader. This section of Ethereum enthusiasts focus most of their attention on news and investment-related topics and not solely on Ethereum.
This is a forum that offers a good source of tips and knowledge together with funny memes and information about emerging technologies that could impact on digital ecosystems and assets alongside the blockchain.
With almost 200,000 subscribers, the r/litecoin community has grown exponentially in the last few years thanks to the buzz around the Lightning technology that powers the tokens.
Needless to say, Litecoin shows a lot of promise as an investment vehicle.
The group provides excellent opportunities for tech enthusiasts. Lightning has attracted interest from technology startups in numerous sectors. Thus the r/litecoin subreddit is populated with a broad range of news, tips and advice from industry insiders and technology enthusiasts of all kinds.
It is a welcome environment for an open discussion.
R/cryptocurrency is one of the oldest and most established Reddit communities discussing digital tokens and in February 2018 hit a milestone of 600,000 subscribers, making it one of the biggest Reddit communities in the crypto space.
The section discusses various topics that are cryptocurrency related and are not afraid to explore concerns about certain ICOs or tech firms they are unsure about – a good forum for vetting the cryptocurrency market.
This is a community that has a huge following but only concentrate on the positive aspects of cryptocurrencies.
It’s a great place to be if you want reassurance, but not a trusted source for performing due diligence.
What we like about r/dogecoin is the friendly environment which makes the forum a fun and relaxed place to hang out. When you have doubts about your holdings, this is the place to put your mind at rest.
Another ideal place to go for newcomers, r/bitcoinmarkets focuses discussion around Bitcoin trading.
A great place to pick up some tips about which exchanges to use and learn about the experiences other people are having in the Bitcoin market.
This subreddit is the fourth fastest growing cryptocurrency forum of all time and a great place to learn more about Ripple technology.
There are new discussions posted every few minutes, so no shortage of information to tap into but has been noted as one of the most negative forums which asks more questions than provides answers.
What do you think are the best Cryptocurrency Subreddits? Let us know by leaving a comment in the field below!