I mean it's a good tool but people rely too much on these social media channels only. It's definitely useful to know what's going on day in day out but it can skew you the wrong way too. I've had situations where I was planning on buying a coin but saw the toxic community on a particular outlet and never bought in. Huge opportunity loss once that coin pumped.
social media channels are indispensable for crypto projects. They are essential tools for building a brand, fostering a community, and staying connected with the ever-evolving cryptocurrency ecosystem. However, it's crucial for crypto projects to approach social media with authenticity, transparency, and a commitment to providing value to their audience, rather than simply using it as a promotional platform.
Most importantly, they are essential for brand promotion and marketing. You have an incredible idea, but if you can't reach out to its potential consumers, then your idea is worth nothing. Your consumer needs to be updated about your project's development, future plans, partnerships, and everything else that is happening. Social media provides the most convenient way for that.