The same type of crypto scams that plague Twitter are running rampant on Instagram in 2020.For example, there are more than 1.3 million Instagram posts using #Coinbase, an overwhelming number of which display inauthentic behavior.
Coinbase declined to comment on any past influencer campaigns, with the short statement: "We don't have an active influencer campaign right now." Instagram isn't tackled specifically in the company's blog post about social media scams.
Instagram spokesperson Raki Wane told CoinDesk "The accounts were taken down unintentionally, when the mistake was discovered we overturned."
There are many authentic influencer accounts doing giveaways on Instagram as part of their COVID-19 marketing strategies.
Despite this climate, Instagram still does provide an important networking platform for the crypto industry.
He said he uses Instagram to both "Show pictures of my family and to publish updates about our product." He said he interacts with product users via Instagram at least once every few weeks, especially when his startup launches a new feature.
Another crypto company operating in Brazil, the Abakus Group-supported exchange Novadax, shows how startups leverage Instagram for customer relations during COVID-19.Chinese investor turned Novadax CEO Beibei Liu said thousands of Brazilians used her exchange to buy bitcoin for the first time over the past few months.
"We do a lot of basic educational content on Instagram," Liu said, adding they also do Instagram Live sessions to answer user questions.
Even for the minority of professional traders using the platform, such as Portugese-speaking liquidity providers in Europe or the United States, Instagram marketing helps the startup establish trust.
Speaking to the global dynamics of Crypto Instagram, where some users struggle to identify authentic accounts, Siegel said she hopes Instagram "Will create a new model for a more active effort to protect their users."
'Crypto Instagram' Is Becoming a Thing, Scams and All
Published on Aug 6, 2020
by Coindesk | Published on Coinage
Yearn.finance yields are plunging: is this a risk for the Ethereum DeFi darling?
Due to a confluence of trends including but not limited to DeFi becoming crowded, venture capital firms launching "Industrial-scale farms," and Ethereum-based coins dropping, the yields offered through the top "Farms" have plunged.
Bill Proposes National Crypto Regulatory Framework
Sep 24, 2020 at 16:00 UTCUpdated Sep 24, 2020 at 16:28 UTC.A new bill could bring cryptocurrency exchanges under a single federal framework.
A New Era of Media Begins With Tokenization
The solution, according to various media innovation prognosticators, is the "Passion economy." The argument goes that, since anyone can create content now, it follows that the lumbering media institutions of the past will be unbundled and replaced with a swarm of individuals: Smart, sharp, upstart newsletter writers, podcasters and maybe even TikTokkers.
Liquality Releases In-Browser Atomic Swap Wallet for DeFi
Sep 24, 2020 at 16:18 UTCUpdated Sep 24, 2020 at 16:42 UTC.On Thursday, ConsenSys-incubated startup Liquality released a new wallet that lets you atomically swap digital assets directly from your browser.