The Cryptocurrency Investor’s Guide to Discord
You might have heard of Discord, the voice and text app that managed to de-throne TeamSpeak among gamers and bury the bulky, boring Skype. Launched in 2015, Discord now boasts 15 million daily users, apps for every operating system and thousands of servers to choose from or simple tools to make your own.
For avid gamers Discord is full of features, such as an in-game overlay, individual user volume controls, and a tiny footprint, so the client will never be the reason your frames per second drops below respectable levels. While the app may be best-known in the gaming community, it’s becoming a tool for everyone, especially rapidly growing cryptocurrency communities.
Discord for Crypto Communities
Discord has increasingly become a go-to communication app for cryptocurrency communities, with the massive subreddit r/CryptoCurrency creating its own official Discord server, and additional servers being created all the time. If you can think of a currency, there’s probably a Discord server for talking about it. There’s even a website, Discord.me for finding them. These servers are filled with lively (and mostly civil) conversation about all things crypto, including news, speculation, analysis and also regular conservation.
The main topic of discussion is usually trading signals, or recommendations on what to buy next. There’s usually a whole channel in the server dedicated to these predictions. One of the major advantages of joining a crypto community is that your own research is augmented by the research of hundreds of other people. This can be a big help with over 1,000 cryptocurrencies out there.
You are more likely to find the actual developers for individual projects active on Discord versus other platforms, like Telegram, which is usually led by non-technical community managers. Additionally, some Discord servers have premium memberships, which get you access to more frequent information about ICOs, signals and more.
Should You Use Discord?
With all its features, ease of use and thriving communities around many subjects including gaming and cryptocurrency, Discord is looking pretty great, right? While most aspects of Discord are wonderful, there are some things you should know before jumping in.
Despite their “About” page invoking wholesome memories of “staying up late playing Warcraft 3 with friends or sharing creations in The Sims,” Discord is still a social media platform and, therefore, has had its share of problems over the years. Discord has had to shut down multiple servers catering to the Alt-Right and Neo-Nazi groups, and recently The Daily Beast published an in-depth report about Discord becoming the “new front” of revenge porn. It’s worth remembering that the app was originally designed for the gaming community, and all that entails for the levels of toxicity and abuse sometimes found on its servers.
But as long as you’re careful about what servers you join and who’s in them, that problem can be avoided. If you’re worried about security, as a lot of users in the cryptocurrency community are (and probably should be), it’s important to know that Discord is not end-to-end to encrypted, despite the community requesting it. Everything is served over SSL, and your voice chats are encrypted as well, but if you’re trying to go the extra mile with your encryption, Discord might not cut it. This may explain why some cryptocurrency communities opt for the fully encrypted Telegram.
Overall, Discord has become a place to be for community discussions about cryptocurrency. Throw in the multitude of gaming communities and the ability to start your own server, and you can see why Discord is rapidly becoming a must-download app.
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Disclaimer: The views and opinions expressed in this article are those of the author(s) and do not necessarily reflect the official position or opinions of SludgeFeed.