What’s Wrong with Crypto Communities and Crypto Clubs in Europe and Latin America?
In the blockchain industry, as in any other field, social capital is crucial. Cryptocurrencies have only been around for 15 years, making it challenging to find a strong network in this area. Crypto communities and clubs come to the rescue, bringing together investors and crypto enthusiasts. They provide a platform for new connections, knowledge sharing, and access to information. In crypto communities, you can find partners, learn about new coins, ask questions, and get analytical forecasts. Sounds too good to be true, right?
Today, there are only a handful of quality crypto communities, especially in Europe and Latin America. The main problem with crypto clubs is the lack of value, exacerbated by the massive “blogger expansion” to crypto. Bloggers and “experts” offering courses and forming their closed clubs are constantly appearing in the media landscape and on socials. These influencers, who had never mentioned crypto before, suddenly present themselves as seasoned specialists offering exclusive information. If you fall for such an expert or their community, you will likely gain nothing valuable and waste your time and money.
If you’re interested in learning more about such “blogger-experts,” leave a comment, and I’ll publish a detailed article.
But shady bloggers are just the tip of the iceberg. Even professional communities have many problems rarely discussed online. To better understand the criteria for choosing a club, let’s look at the main issues.
High Cost, Low Value
Most professional crypto clubs aren’t free. An annual membership can cost an average of $4,000, and in some communities, up to $30,000. Unlike blogger clubs, here we expect to see expert residents and high-value content. However, our expectations are rarely met. The experts presented as club ambassadors show minimal activity in chats, and the educational content is very basic. No one will chase after you to answer your questions (although they probably should for the money you are willing to pay). The community might hold a few AMAs a month and organize a couple of live meetings a year, but even then there’s a catch. For an additional fee, you can be a speaker and present your project to the club from the stage. This is the case with almost every activity. When choosing a crypto club, it’s crucial to understand which community is built for collective development and which is for the enrichment of its creators.
Low Entry Barrier and Poor Moderation
A common problem in both free and for profit business communities is weak due diligence. New members join after a brief conversation with a manager or, at best, have an online video interview. Almost no one checks the person’s background, meaning anyone can essentially join a closed club. Particularly surprising are paid clubs that accept questionable experts for money. Mistakes happen, but they need to be corrected by moderating the community. If a community positions itself as professional, members should reflect that. Ambassadors promoting scam projects should not be allowed. If a club has dubious experts and membership depends only on payment, it’s worth reconsidering joining.
MLM Projects
MLM, or multi-level marketing, is essentially a network-building business. However, in the crypto industry, “crypto MLM” often hides pyramid schemes promising huge returns for attracting new members. These projects love to position themselves as crypto clubs where everyone earns their share and helps each other in facing difficulties. Instead of development and support, you will be persuaded to invest in their project and invite your friends to do the same thing. Sometimes this is mixed with educational content, but you will gain no real value from such a community. You can recognize such a club by three red flags: you need to buy an investment product to join, the product promises unrealistically high returns, and there is a strong emphasis on the referral system.
Conclusion
Finding a strong network or crypto club requires thorough research. Look up the history and reputation of the community, its members, and opinion leaders. Look for reviews and opinions from others online — a lack of information or many negative reviews should be alarming for you. Ensure that opinion leaders genuinely have experience and knowledge in the crypto field, rather than just selling air.
Pay attention to the membership procedure. Even in some free communities, like Money at Work, there is a rigorous participant selection process. If you’re a beginner, that’s not a problem — just be honest about it and your goals. Crypto clubs can be highly beneficial if approached wisely and cautiously. Careful research, information verification, and a critical approach will help avoid scammers and find truly valuable and productive communities.
