How is Crypto Business Building Customer Trust?

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As the regulatory environment for the cryptocurrency market remains in flux, often causing more instability than stability, crypto companies in the U.S. cannot afford to sit back. They are proactively working to secure the loyalty of investors and their community.
Kevin Dinino, Founder and President of KCD PR—a U.S. PR agency that develops communication strategies for Web3 companies—emphasizes that transparency, honesty, and consistency should be at the core of corporate communications. He argues that PR departments in crypto companies should be particularly focused on this approach. Disclosing detailed information about the project’s founders, the team, the technology used, and development progress are critical first steps to demonstrating openness and building trust. 

Beyond transparent communication, there are various other strategies to bolster trust among investors and users, such as:

  • Transparent Financial Reporting and Independent Audits
Users seek detailed information about the management of projects in which they invest.
  • Customer Involvement in Decision-Making 
This can range from simple surveys to complex DAO mechanisms. As Nike might put it if they were in the crypto space, "Just involve them." Progress in this direction is crucial.
  • Educational Initiatives 
Sharing knowledge and educating users about data analysis and the inner workings of platforms empowers individuals, making them more confident and self-reliant. An informed user is likely to remain loyal and spread positive word of mouth.
  • Collaborations
Collaborating on projects with well-known brands, companies, and thought leaders is a time-tested method to boost visibility, loyalty, and trust. 

The last point is somewhat controversial. Remember the peak of the crypto winter when investors and regulators demanded accountability not only from failed exchanges but also from celebrities promoting cryptocurrencies? This led to a period when celebrities tended to distance themselves from crypto brands. Thankfully, that era appears to be behind us.

For instance, the legendary rapper Eminem recently voiced a commercial for the platform, which debuted on TV during an NBA playoff game. The exchange also branded the arena where the games were held. Prior to its television premiere, Eminem shared the ad on his X account, where he has over 22 million followers. His tweet featured the hashtag "#FFTB," standing for "Fortune Favors the Brave,"’s slogan.

Additionally, there's been a noticeable increase in the activity of crypto projects on YouTube.  
“Sensor Tower data showed YouTube received the largest share of crypto-ad spending in the first quarter pegged at 43%, up from 11% in the year-ago quarter,” tweeted financial journalist and trader Olumide Adesina

This statistic is explained by crypto entrepreneurs' heightened desire to engage the younger demographic—specifically, Generation Z aged 18-24, who make up about a quarter of YouTube's American audience. Israeli firm ReBlonde notes that this group is generally more receptive to innovation, eager to engage with cutting-edge technologies, willing to take risks, and motivated by the potential for high returns. 
The psychographics of this audience reveal a group that highly values transparency, speed, and efficiency,
point out the experts at ReBlonde.
As we can see, the focus on transparency appears to be a key component of success.

Previously, we've reported that many crypto projects fail to invest adequately in a global marketing strategy. For example, only 10.4% of companies use their primary domain for blogging, while others opt to publish on external platforms.