X And YouTube Favored By Investors For Crypto News, Study Shows

A new survey from CoinGecko reveals that X, Telegram, and YouTube are the top platforms where the crypto community gets their news and updates.

Crypto investors tend to favor social media platforms for their news, with X, YouTube, and Telegram leading as their top sources of information. According to a study conducted from June 25 to July 8 by CoinGecko, the three platforms collectively account for 84% of where crypto enthusiasts get their information.

The survey shows that over 34% of respondents rely primarily on X for crypto news, making it the leading platform for information in the space. YouTube follows closely, with 23.4% of participants using it as their main source for updates, while Telegram is used by 16.0% of respondents.

Although X is the most popular platform overall, less than half of its users (41.7%) consider it their primary social media space for crypto discussions. Meanwhile, Telegram and YouTube have seen similar levels of engagement, with 21.5% and 20.8% of participants respectively spending most of their time on these platforms.

“Crypto Discord was the primary social media platform for 6.8% of participants, slightly ahead of the 4.5% who were mainly on crypto Reddit. This might be because Discord and Reddit are more widely considered as supplementary social media platforms for the crypto community.”

CoinGecko

The survey, which included 2,558 respondents, reveals that the crypto community prefers to get their news from the same platforms where they are most active. Nearly 70% of participants identified as long-term investors, while 18% were short-term traders, 7% were builders, and 6% were sidelined spectators.

About 46% of respondents were in their first crypto cycle (zero to three years), 41% were in their second cycle (four to seven years), and the rest had more than eight years of experience. Most participants (90%) were based in Europe, Asia, North America, and Africa, with the remainder located in Oceania or South America, the data shows.

As crypto.news reported earlier, Binance Square’s early 2024 poll identified high returns, decentralization, and innovation as pivotal factors driving mainstream crypto adoption in Europe, with 20%, 18%, and 17% of respondents highlighting these aspects, respectively. The study also stated that 55% of survey participants use cryptocurrency for everyday purchases, and 10% make weekly cryptocurrency payments.