Cryptocurrencies: To Include Or Not Include On My Site?
The Next Big Thing?
As most of you know, I have a bootcamp site (promoting WA), and I've been pondering whether or not to start reviewing cryptocurrencies on my site.
On the one hand, I don't think people who are interested in cryptocurrencies would be interested in building a blog with affiliate marketing since I would think they are more finance people and into more market trading.
On the other hand, the search volume with anything related to this topic is very high and I've recently gotten a bit into it last month but also don't feel like I know enough to really offer any deep analysis or information about this topic.
I don't mind learning more about it as I think cryptocurrencies are here to stay as I have read other projects coming down the pipeline that will really revolutionize our commerce system around the world with it, so this could be very significant in our future.
I've made one post so far about this topic and I have good traffic from that post so I can only imagine I can even more traffic if I continue adding more content about cryptocurrencies.
I guess I just don't feel that confident in my knowledge to go full fledge and start writing about it with more posts.
I would really love your input on this and help me with this!! Please!
Do you think people who are into cryptocurrencies would want to join WA and build a blog?
Thanks!
Grace
Recent Comments
78
Go for it, Grace, but do your research thoroughly before you post anything. A great place to start researching Cryptos is the book 'Bitcoin - The Future Of Money' by Dominic Frisby. You can pick it up on Amazon for about 8 Bucks.
There are around 1000 Crypto Currencies out there but only around 20 or so worth investing in.
Avoid ICOs (Initial Coin Offerings), as these are often simply people trying to make a quick killing by riding on the wave - launching a phony currency, creating hype around and cashing in when uninformed people buy into it.
The fact that cryptos are unregulated and de-centralized are their strength, not their weakness. They cannot be manipulated by governments or central banks and the block chain technology they use is completely transparent, almost impervious to hacking and has real world applications. People will always knock what they don't understand, so do your own research and make up your own mind.
Cheers
Rich :-)
Thank you Rich for your input. Good thoughts on ICOs, I was wondering how legit those are. I just know there are a lot of scams out there that I can review and capitalize on all that traffic around this topic but if I do that, just wondering if that kind of audience would want to do something less risky like affiliate marketing. Any thoughts on this?
My two pence worth, Grace is this. If you want to jump on a bandwagon that's already rolling, don't. There are too many rogues in the business hard selling and wolves waiting to pounce. It is a complex unregulated industry and you could easily find yourself caught up in it, even with a whole lot of research. Your current projects are going well. I would suggest putting all your efforts in those directions. Steer clear ! Best wishes, Chris
Thank you Chris for your advice.. I don't think I'm going to jump on the bandwagon and do any investing myself but to just talk about some of the scams out there to catch some of that high traffic around this topic. However, wondering if those people who are into it would want to do a blog.
Well Grace, I work with varied sources within the Investment/Financial/Retirement Industry and most are saying let Cryptocurrencies lay for the moment. Look at the last 6 months of Bitcoin, from $2,610 on July 5th to a high of $18,867 on December 18 and now sitting at $14,492 today. That is what we call "Beyond the Volatility Index", meaning too Volatile to invest. The Volatility Index as a whole hit, under 9.10 (anything under 9.25 great) yesterday which is great for Stocks and Mutual Funds. Tis volatility on CryptoCurrency might last a bit longer because right now, Money is strong (The Dollar) against other currencies. Even Bitcoin currency exchange is flat. Other crypto's are just showing what they are; Etherium or SEEDS & others are very volatile and we don't where they're going and how thry'll be accepted or not.
Just my opinion, but an opinion shared by many more that are much smarter than myself.
Dean
Hi Dean,
Thank you for your thoughts here!
This topic is a very risky one and yes we need to be careful. I'm not about to join a bunch of things though... I'm just wondering if that kind of audience would want to be here at WA learning about building an affiliate marketing business which takes time to grow vs making quick dollars in crypto.
It'll be interesting to see how the crypto world will grow this year though.
It's like a car crash you can't look away! lol
Grace
Besides those details Dean, no single exchange, organisation or entity is legally obliged to accept bitcoins as payments or exchange bitcoins for cash, essentially making them worthless.
Like a good friend of mine, a commodity trader, says "if you cant hold it, don't invest in it!".
I think it's a good topic to attract traffic and sell people on more stable ways to make money - like WA.
I've studied it a little bit. Until the currency has less of a "Wild, Wild West" feel to it - I don't think it's a good investment.
If you are willing to learn more about the topic, there's is certainly the opportunity to monetize posts about it.
However, this is very important, if you are going to write about it make sure you put some kind of disclaimer on every post and page. Something to the effect that you are not a licensed financial planner, and any advice or information is used at the visitors own risk. Something like that.
I created a graphic for my site with a short medical disclaimer, so it doesn't get flagged as duplicate content and I can post it everywhere. I do not want people substituting my advice for relieving foot pain as a substitute for a visit to a real doctor.
You do not want anyone trying to sue you...especially with such a volatile topic that involves potential financial losses.
But I say go for it. Cryptocurrency is in it's infancy, much like the Internet was in the '90's. It's already a huge topic, and will get even bigger.
Thanks for the reminder about the disclaimer, that's very true. I also like your idea of telling others to find a more stable and dependable way of making money. Your idea of an image is very good too.
There is a lot of potential here but I want to find out more about the audience behind those who are searching this topic I guess. I will have to test it out to see that kind of traffic will convert for me.
Appreciate all your thoughts here! Thank you!
Grace
On the fence with all this cryptocurrency stuff.
I think you will find marketing this subject will attract many looking for the quick buck with absolutely no interest in hard work, which creating a website entails.
If you had the b's to get in at the beginning and reap the rewards then so be it, but eventually, the scam artists will get on board.
Mick
You're very right about this Mick, appreciate your feedback here.
That's what I was wondering too if that audience will have the patience to build an affiliate marketing business or if they are just out for a quick buck.
I don't want to waste my time if this traffic won't convert for me.
I have an internet scam blog and have included a post about cryptocurrency scams. There are several problems with bitcoin, for example.
First, the volatility of bitcoin prices makes it very difficult to determine "value" of products and services. For example, one ad site is offering solo ads at .05 BTC which at current exchange rates is $680.00. This is about 10+ times the going rate. The vendor has not repriced his BTC price to keep up with the changes in bitcoin prices.
Second, the transactional time it takes to process a bitcoin payment is excessive when compared to paying via credit card or a payment processor like PayPal.
Third, the fees associated with exchanging (buying/selling) bitcoins has increased significantly. I have seen fees of $75.00 to exchange bitcoin into dollars. So it is not cost effective to exchange small quantities of cryptocurrency.
With all that said, writing about different ways to invest in cryptocurrencies or reviewing cryptocurrencies or programs is still a good choice.
Hi Glen,
Thanks for your input and I agree with everything you're saying.
So then if you have been writing about it, what have you been referring them to? WA or a crypto related product? I'm just not sure what legit crypto products/platforms are there besides Coinbase.
If you've been referring to WA, does that type of audience convert?
Would love your insight!
Grace
I am not directly promoting or referring readers to any product. My site is monetized with Adsense and other ads. Although I am working on another article related to bitcoin that I might include affiliate links of some sort.
I see a lot of posts on review sites regarding cryptocurrencies and bitcoin. Mostly from those who are using them. It seems like a very hard sell industry. I joined a couple to see if I could write a review but was bombarded by calls from all over the world and still am ! I mentioned this to my son who is a broker in London and I got a proper telling off. His opinion is they are a joke and the only ones making money are the companies themselves. Just be careful and get advice first.
With Grace and Gratitude
Karen
A UK newspaper reported on rampant scams to manipulate bitcoin prices using "pump and dump" tactics.
"Their strategy is to suddenly inflate the price of a cryptocurrency by coordinating a few buyers to act at specific times. Then, after the price rises, they attract other, unwitting investors to buy into the price momentum. The "pumpers" quickly sell the coin to make a profit. The coins often crash just minutes after the initial surge, leaving the second wave of investors with losses." (source: Business Insider)
Oh my, sorry to hear that Karen. I wouldn't even join to find out if their a scam or not, usually you can tell from the outside, but I understand what you were trying to do and that's awful you're being bombarded like that.
I will have to be careful for sure then! Thanks!
Grace
Because of the popularity of cryptocurrencies there are many scams being created related to crypto and bitcoin. I think there is a good possibility it could relate to your WA site, if you write about other scams as well.
But instead of promoting wa on those reviews you can talk about the more legitimate crypto programs. Food for thought. Create a new category for these posts. And you can always mention about wealthy affiliate who may not have money to invest but still want a way of making more money. Financial people would be smart and savvy and could consider the alternative (WA) vs another legitimate crypto program(for investing or teaching).
Best Regards,
Brandon
Hi Brandon,
Your input here is really appreciated. You are right about the scams which I think I can easily add since those will be obvious.
I will still have WA somewhere in the post but wondering what other platforms besides Coinbase is legit in the crypto world. Do you know of anything else that would be legit?
At the same time, I do want to continue with promoting WA strongly on my site as I'm trying to make the 300 sales this year as my goal. So if I start recommending other things, I feel I may pull away from my goal.
That's why I'm trying to decide what to do...
Grace
It's always important to hit your goals. So I def wouldn't recommend shying away from your sales goal. I personally haven't done my due diligence on crypto. So I'm not sure of all the programs. I heard "Gemini" is another great one from a friend, but Idk what does and doesn't have affiliate programs.
I don't see anything wrong with a few crpto post just to reach another audience in say a sub-niche of make money online or making money in general.
But this doesn't mean go full blown crypto reviews and forget about the direction of your website.
And other people are jumping on the crypto bandwagon, too. Tai Lopez is one name that comes to mind, in our industry, that has talked a lot about crypto lately and investing.
This could always be something you tackle in a few months as well when you see how your website has progressed throughout the first quarter or two of the year.
research throughout the months to have a better understanding, but don't make it a priority right away if you have other content ideas in mind, and then tackle this subject when you are at a stand still with writer's block.
The popularity only seems to being growing, so waiting a few months to decide won't hurt if it gives you more time to become more knowledgeable before tackling the subject.
Best Regards,
Brandon
The objective of your blog is to educate your audience on how to make money online. I already included on mine with a category dedicated to cryptocurrency information. There are many legit websites you can promote to earn the commission.
You don't need to have full knowledge about it now, you get better with time. You can educate your audience to embrace WA to start a Cryptocurrency blog.
Cheers.
john
Thanks John, this is very helpful to me. What platforms are legit? There are so many that are scams and becuase im still new in this space, all I know is Coinbase and I can only earn $10. Lol which is not a bad thing. :)
See more comments
My thoughts are that it would be wise to include bitcoin or crypto on your site to take advantage of the traffic, but not get too deep in the weeds. Since your site promotes WA, you should be looking for the crypto people who want to become "experts" with their blogs and build an attraction marketing plan. As your site is really about promoting WA, I wouldn't worry about explaining crypto or trying to promote it as it falls outside of your niche.
My site is about making money online. I primarily promote WA, however I also have a crypto opportunity I'm promoting and since that falls into my niche, I'm including some bitcoin education.
Anyways, those are my 2 cents. I hope it helps.
Appreciate this Brian, really helpful. That's true that some people may want to be experts in the crypto space. Could you share what crypto opportunity you are promoting? You can PM if you want. :) I just don't know what else is legit except Coinbase.
My site is the same as yours, MMO niche, but yes, I want to primarily promote WA because I'm hoping to meet my Vegas goal this year and if I promote other things, I may take away effort from my goal.
Glad you found it helpful. Vegas is a good goal to work towards, so I understand where you're coming from. I'm hoping to achieve that goal as well. :)
One thing I would like to say is that Coinbase is not an investment or opportunity. It is simply an exchange that will give you bitcoin, or other cryptos, in exchange for fiat currency (USD, EUR, GBP, etc.). There are multiple other exchanges out there which are legit as well. Once you acquire crypto from an exchange you can determine what investment strategy you will use. You may already know this, but I thought I would explain it just in case.
Anyways, I will PM you with some details on the opportunity I promote so you can see what kind of things are out there.
Hi Brian, yes I did know that about Coinbase, that's just the only platform I knew that's relatively legit (there are still problems) and that I can get a referral to. I will check out your PM though! Thanks so much!