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What are Community Coins?

Meme Coin News
July 6, 2021
Paimun Joody
Crypto Blogger

PJ is a keen crypto enthusiast, having traded speculatively since 2017. He is part of the 100xCoin writers group.

A strong community makes up for the backbone of any thriving project, the greater a community is engaged, the more success will follow. This is no different for cryptocurrency.


Recently the current state of cryptocurrency projects has exploded with popularity, Safemoon, Shiba Inu, and 100xCoin all have had immense success in this year's bull run, and the majority of the reason, while not a bad thing, is thanks to their slightly obsessive communities. 100x is a Community Coin in it's very nature.


A community coin can be defined as a cryptocurrency project that is significantly reliant on the strength of its community. These communities have a large influence on the coins' direction, success, and promotion.


One thing to note about these particular coins is that the relationship between the core team and the community works almost like a partnership; if one of the parties doesn't deliver, the coin can’t be successful.

Image of Doge rode major community backing to see big gains
Doge rode major community backing to see big gains


What are the benefits of Community Coins?

Immediately upon joining one of these community projects, you will soon realize the major differences that are present from other projects. While some cryptocurrency entities struggle to make the effort in connecting with their community, others are taking full advantage to communicate and rally their troops. These coins enjoy plenty of benefits that regular crypto simply do not.


Here are a few benefits of joining an alt community coin:


Communication

While many cryptocurrency projects often neglect their holders, keeping them in the dark, alt community coins tend to be completely transparent and clear in their plans. Communication between the core development team, and community builds trust and certainty that is usually foreign in a market full of anonymous players. Strategies and intentions are often disclosed very early on in the project's life cycle, which is a way for community projects to entice holders of the coin to stick around, but more importantly to build a lasting relationship where their holders can feel a part of the project’s growth. 


Communication often works both ways. Community suggestions and inputs are often taken onboard by the development team. Rarely will cryptocurrency organizations consider external input, however, community coins work very closely with their holders and are frequently in constant engagement. Oftentimes you can find core team members hanging out and discussing with their community in social media chat rooms, such as Telegram and discord.

Promotion

When you have thousands of people all simultaneously making noise about a particular coin, it's hard not to listen. Perhaps one of the greatest strengths in a crypto community is the ability to promote their own coin without a large marketing budget, and purely on word of mouth and social media presence. 


Mass shilling is a common strategy used by community-focused coins and has worked wonders for so many projects, like 100xCoin and Bonfire. It involves a collective effort to “raid” a particular piece of social media or to convey a similar message from every individual in said community.


Twitter, Tik Tok, and Reddit are among some of the most shilled social media sites out there. A quick search for altcoins on these platforms will show plenty of posts and a multitude of different alt community coins.

Giveaways

An alt community coin project often gives back to their communities and is a frequent benefit that is mostly exclusive. Giveaways are often run in exchange for promoting and shilling. The great part about these giveaways is that they often only require a small amount of time and effort. 


Take for example the most recent giveaway for 100xCoin:

Recent Giveaway from 100xCoin Moderator Vlad
Recent Giveaway from 100xCoin Moderator Vlad


Doesn't seem so hard, does it? This is a common occurrence in an active community and happens frequently. 


These types of cryptocurrencies are a great way to get your hands dirty and get involved in a project almost immediately.

It can even start just as opening a conversation with friends and family, who in-turn will repeat that conversation to their associates too, and thus a two-step advertising flow is born - sheerly through word of mouth.

That’s what Community Coins are ultimately all about. The community itself growing exponentially is pivotal to the success of the coin.

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