Monday, May 27, 2024

Introduction to the Fast-Moving World of Crypto Journalism

In every major industry, new-centric hubs start to form, allowing people to get access to recent information, interesting developments, and news hot off the press. The blockchain industry is no different here, with a thriving hub of news websites that people regularly contribute to. While these were once much smaller communities, the past few years have seen cryptocurrency come into the modern lexicon and enter our cultural consciousness.

At present, over half of American adults, coming in at around 56%, own cryptocurrency or have previously owned cryptocurrency. This figure is practically unbelievable compared to just a few years prior, demonstrating just how far this industry has come in a short amount of time.

As the adoption of cryptocurrency increases, the general number of people that are looking for more information on blockchain projects is also rising. To accommodate this crowd, there are now more blockchain news sites than ever before – giving rise to a whole new industry, cryptocurrency journalism.

While not as popular as mainstream journalism topics like finance or sports, cryptocurrency journalism is now a highly-respected field with a number of working professionals. But, this industry does indeed have its quirks and differs from traditional journalism. In this article, we’ll dive into these differences.

If you’re working in the world of blockchain, this article will help you understand how the journalism side of crypto works, allowing you to put these international news networks to use. Let’s dive right in.

The Current Relationship Between Wider Media and Journalism

While we can focus on the expanding interest in cryptocurrency over the past decade, we still cannot overlook the fact that the vast majority of people simply do not understand this digital financial system. Cryptocurrency, let alone the intricacies of blockchain, goes right over the head of the vast majority of the general public.

Of course, any new system is going to take a while to become understood. Even so, only 96% of Americans cannot pass a basic crypto literacy exam. With this in mind, it’s no wonder that traditional journalism’s reporting of cryptocurrency is so black and white. Due to the huge price fluctuations, traditional journalism has to write about crypto. It’s just too big to ignore.

Yet, without an understanding of what crypto is, what it does, and how it’s used, most of the media that focuses on this industry is fairly factually incorrect. While traditional media can focus on numbers, the reasoning they give for why certain things are occurring typically falls short.

Due to this, it’s important to get cryptocurrency news from sources where crypto journalists actively work. Instead of focusing on international media outlets that we’re used to, it’s always better to go to the source. Focus on crypto news websites, and you’ll suddenly find a much richer base of perspectives.

The first rule of cryptocurrency journalism is to avoid the vast majority of centralized media companies.

The Boom of Crypto Journalism

As people have begun to realize the lack of scope that traditional media has when it comes to exploring blockchain stories, crypto news sites have begun to blow up in terms of popularity. Within sites like CoinMarketcap, Daily Coin, and CoinTelegraph, you’ll find a number of people actively working within the community.

While many stories are published by crypto enthusiasts, community members, or companies looking to share their recent news, the best stories typically come from crypto journalists. The vast majority of crypto journalists will specialize in one or two core areas of knowledge. This expansive subject understanding makes their stories the most in-depth and, therefore, valuable to readers.

When launching a blockchain company, if you want news readers to take you seriously, one of the best ways of doing so is by getting in touch with these journalists. These people will act as the connection between your business and the wider cryptocurrency media system. You can find them via their author pages on a news site, or commonly on sites like Twitter, where they will share ongoing insights. 

What Media Does Well in Crypto Journalism

When attempting to break into the crypto news space, there are a few formats that typically do better than everything else. Considering the rapid turnover of news in this space, it’s vital that you focus on creating high-quality content that people will want to come back to.

Although it’s a fast-moving space, you can capture people’s attention by writing or submitting the following to crypto journalists:

  • Investigations – The world of cryptocurrency is used to a bit of a scandal here and there. If you’re able to dive into the specifics of a project and shed light on new information, you’re more likely to get people clicking on your content.
  • Short Press Releases – Press releases work wonderfully in the world of crypto, where people want to consume as much news in as short an amount of time as possible.
  • Reviews – Product reviews and listicles that go through great products often do very well in cryptocurrency media.

By pulling from all of these formats and contacting crypto journalists with ideas that cover your company in one of these ways, you’ll have a much higher chance of breaking into the next news cycle. Keep things fresh, and apply often to boost your chances of securing a crypto journalist lead.

Final Thoughts

As with any media industry, the world of cryptocurrency journalism is a thriving space with thousands of contributing members. Across crypto journalists, companies creating press releases, and community contributors, there are a number of parties that get involved in this system.

By understanding what types of news beats do well within this community, you can reverse engineer stories that have more success in this field. This especially comes in handy for all of the CEOs and marketing professionals that want to break into this space.

Understand the core ways that crypto journalism differs from traditional journalism, and you’ll be perfectly positioned to take advantage of this thriving digital hub. 

Claire James
Claire James
Claire is an accounts manager at Fire Digital UK, an online publishing and content marketing company based in the North West.

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