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Can cryptocurrency exchanges build trust with PR?

Can cryptocurrency exchanges build trust with PR?
19.07.2021

How can cryptocurrency exchanges conduct PR activities?

It appears that digital transformation and artificial intelligence will turn the balance of the world of finance. Financial security has gained tremendous importance in the first few months of 2020 due to the COVID-19 pandemic. Cryptocurrency exchanges, which are considered as one of the opportunities offered to the public by the digital world, plays an important role in achieving the necessary financial security. In parallel with the augmented interest in cryptocurrency and the blockchain technology used, a plethora of companies started investing in this new revolutionized process which changed our perception of conventional ways of money exchange. Cryptocurrency exchanges started searching for other methods for their marketing and communication activities. Building trust is make-or-break and that is exactly why all eyes are turning on PR. So, how can cryptocurrency exchanges conduct PR? We have gathered all the necessary information for you.

How does the media influence the world of cryptocurrency?

The cryptocurrency world is an ecosystem where rapid changes are experienced with its dynamic structure. One of cryptocurrency’s downsides is its uncertainty and volatility; since cryptocurrencies are considered relatively new, they are also very volatile. This is one of the primary reasons why mass accreditation takes longer than it should, many companies do not want to transact with a form of money that will experience massive fluctuations in value. So with that being said, cryptocurrency is readily affected by anything portrayed on media and could lead to price increase or decrease easily. For instance, how did Elon Musk, with 280 letters, managed to cause deprecation in cryptocurrency exchange? Elon Musk announced on Twitter that Tesla will not accept Bitcoin as a payment method, causing a 17% drop in its price in a few hours. In a very similar example, China announced that it will ban cryptocurrency exchanges, which also caused a depreciation in its value. This indicates that all investors are closely following all of the developments and updates regarding cryptocurrency and online trade, making their investment decisions accordingly. This also brings an atmosphere of worries and concerns. It mainly leads us to ponder the importance of media communication and PR as an important tool to face these regulations and rapid changes, build healthy communication between the investors and the cryptocurrency exchanges, and the necessary blockchain technology.

Why is media communication essential for cryptocurrency exchanges?

The display of qualified, research-based curricula and assessments in media about topics that the public has a modicum of information about often makes a difference and significance in gaining mass accreditation. Without a doubt, cryptocurrency is on top of these topics. So, what are the benefits of building media communication and becoming a story on the news?

Considering that cryptocurrency is all about earning financial benefits, reliability is the core criterion for users of such technology. Even though all of your transactions will be secure, as cryptocurrency uses blockchain technology, it is nearly impossible for anyone other than the wallet owner to make any payment from the wallet unless it is hacked, and there are many ways to protect yourself from it. Security concerns are still argued in the media. To close this gap between the companies and investors, blockchain technology producers have to follow up and use media channels that keep up with agendas, build a relationship, and get in touch with their target group. Why is that? It’s harder to stand out from the crowd, but for those who do, the benefits to business are hard to ignore. People trust the brand when they see, get to know, and build communication with it. Thus, when the information is directly delivered from the brand, their proficiency and trust are augmented. Considering that news in the digital world is being published and read on social media and online websites, PR once again demonstrates itself as an important tool. Hence having access to a blockchain PR agency with experience in cryptocurrency PR and very acquainted with the scene from all aspects inside and out can be the difference between a prosperous and a failed project. One of the main tools that PR uses to ensure building communication between the cryptocurrency exchange and the media is press releases.

The use of cryptocurrency press releases for exchanges

By now, we all know that cryptocurrency companies put tremendous effort and work into their marketing tactics to acquire the trust of their targeted audiences. The road leading to acquiring this trust is, of course, by cryptocurrency press releases in media. The primary purpose of all press releases is to promote something significant and specific, and do so in an evident way. Beyond that, a press release adheres to a strict format and avails three marketing and promotional purposes:

  1. Notifying the media about any developments, changes or events taking place in your business.
  2. Making your business a newsworthy story in hopes of capturing the attention of reporters.
  3. Using a variety of methods such as blogs, websites and social media to increase your appearance on media and promote your companies’ image

Thus, the importance of PR for a cryptocurrency exchange is unbelievably huge, and that is because cryptocurrency press release forms the source of information for blockchain companies and cryptocurrency exchanges that produce blockchain technology, to facilitate access to power.

Cryptocurrency press release examples

The subject written about holds the utmost importance while preparing a press release that carries news values. It is important to know the topics that the investment ecosystem is interested in, the developments that came in the frame that affect the ecosystem, what kind of concerns they have and what kind of question they are seeking an answer for. In this case, what are the subjects that cryptocurrency exchanges use to fulfill their PR goals?

Preparing press releases referring to the general developments in cryptocurrency 

We have already stated that the cryptocurrency world is affected by the developments on the agenda. Investors wish to be informed and have general knowledge about the changes in cryptocurrency value due to the developments taking place at a certain time and the new cryptocurrencies in stock markets. With press releases, you can keep the media and investors updated and provide them with necessary information about any recent changes or developments.

Example: https://cointelegraph.com/news/blockchain-can-help-publishers-improve-audience-trust

Sharing researches and analysis

Ascribed to its dynamics, cryptocurrency is susceptible to crises. Particularly when sudden depreciation and fraud takes place, which give rise to concern and ultimately needs to be clarified. In such events, which can be hazardous on cryptocurrencys stability, analyzing the ecosystem or sharing the results by doing research is very valuable for both the media and investors as it will reveal the facts with data. The results of these analyzes and researches can be shared through press releases.

Example: https://cointelegraph.com/news/crypto-usage-in-turkey-jumped-by-elevenfold-in-a-year-new-survey-shows

Technological investments and sponsorship agreements can be announced

Technological investments are of utmost importance for the cryptocurrency ecosystem which is based on technology. New features offered by cryptocurrency exchanges or new projects that companies developing blockchain technology are working on can be announced via press releases. At the same time, topics such as sponsorship agreements that increase brand awareness could be considered press release topics. 

Example: https://en.b2press.com/press-release/2060/icrypex-sponsorship-agreement-paid-out-in-bitcoin

B2Press offers press release distribution services in more than 30 countries.
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