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Crypto, short for cryptocurrency, is more than just a buzzword. According to many, cryptocurrencies are the future of the financial industry for their inclusive, transparent, and efficient nature. However, due to its blockchain technology, it gets pretty confusing pretty fast. The people that are already involved know too much, and those who are just starting out know too little. Therefore, upcoming brands that want to talk to their consumers about the future of finance and their new and shiny “crypto” products should take advantage of a universal, funny, and educational tool of communication: crypto memes!
Enjoy our brief introduction and Top 10 list for the best cheat sheet any marketer needs to access the tangled yet entertaining world of cryptocurrency.
Want to stay in the crypto loop? Check out this blog for the Top 10 NFT Influencers you should be following.
What is Crypto? A crash course
It all started with Bitcoin, the network that gave life to bitcoin – the cryptocurrency. The whole point was for people to store, send, and validate their money transactions without an intermediary (a bank). In 2008 Satoshi Nakamoto merged blockchain technology (which is a huge public ledger of transactions) with the idea of using cryptography to secure currency (crypto-currency). Hence, the Bitcoin network (notice the capital B) was born. After that, all digital currencies and exchangeable assets are discussed under the widely known umbrella term “Crypto” in honor of the technology of the one that started it all.
Need more resources to better understand the blockchain? We have your back! Check out our blog 9 Best Blockchain Influencers Who are Your Top Industry Resources!
The Crypto Mind
The crypto community believes in DeFi (decentralized finance) and has a long-term investment mentality – this is not for the adrenaline-seeking retail investors that are looking for a quick buck. The majority of the community strongly believes in the technology and its adoption process while enjoying the volatility that comes with it. Unlike the US dollar that used to be backed up by gold but is now backed up by “the public’s faith in the currency-issuer” (aka the government), Bitcoin is backed up by bits and bytes, 1’s and 0’s, and mostly the faith and use of its investors. This makes it a “high-risk” and quite volatile investment.
Let’s take May 12th, 2021 as an example. On a quiet afternoon, Elon Musk tweeted that Tesla would not accept bitcoin as a currency anymore, which was followed by a total 26% drop in price. This means that if you had 1 bitcoin, and it was worth 40K USD at the time, you now still had 1 bitcoin worth only 29,600 USD. Lovely. Characterized by big money moves like this, the crypto community loves to both celebrate the wins and find the comedy when there is a tragedy. They remain faithful that this is the future of our economy, as a growing part of the world’s economy will start using crypto-currencies as their main means of doing business
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Below is a list of the Top 10 Crypto memes (explained) so you can start familiarizing yourself with crypto humor and the easiest tools to reach the crypto audience on your social media and marketing campaigns. Make sure to take note –leading companies like Blockhain.com and Crypto.com have already started to use crypto humor and media personalities like Captain Kirk and Matt Damon to lure in their customers.
1. Buy the dip
Buy low, sell high! The investment philosophy to make a profit. Whenever there is a dip in crypto you will see Twitter, Reddit, Discord groups, and every crypto community making memes telling people to BUY THE DIP. Not only because you can buy the asset at a lower price, but because everyone wants to get the asset back up to a higher price! It’s all about helping each other out.
Even El Salvador’s president is buying the dip! He’s a Bitcoin fanatic and his Twitter account recurrently pops up in crypto memes.
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2. To the moon! 🚀🚀🚀
The phrase “the price is going to the moon” is commonly used to describe projects in the crypto world that are “about to explode”. It is also used as a verb sometimes like “the coin is going to moon this year”.
A joke on the word “hold,” the HODL meme refers to people that hold onto their currency no matter how low it goes.
This video describes true hodling.
With NFT’s being talked about everywhere, the memes are soaring!
Want to learn more about NFTs, what they actually do, and how to effectively market them? Check out our blog Emerging Trends: NFT Marketing Best Practices I NeoReach Blog
5. Doge coins
A “to the moon” and “doge” meme in one!
6. Bitcoin’s ATH
ATH stands for All-Time High. This is a complex one that pops up all the time so let’s break it down. A lot of people, long ago, set sell orders on Bitcoin to execute at 69,000, 69,420, 69690, etc.. as a joke. Why? For the meme. No one really thought Bitcoin would get to that price when the orders were made. But when the price started nearing 69,000 all the orders were put in creating one of the biggest price falls of Bitcoin. To this day, the currency has not recovered.
7. The office of a millionaire
8. Peter Schiff
A financial advisor that has always been against cryptocurrencies, specifically bitcoin.
9. Dr. Parik Patel, CFA
A fake, yet hilarious crypto advisor on Twitter. His tweets are always turned into memes.
10. Keeping the faith!
The community believes. They believe in the technology and in themselves. It’s quite uplifting.