How to Build and Nurture Your Network as a Crypto Trader Part 1

Building and nurturing a network is essential in every industry, but it's even more important in the world of cryptocurrency trading, which is usually fast-paced and bumpy, with many highs and lows.?

According to a LinkedIn survey carried out by Lou Adler, CEO and author of Hire with Your Head, 85% of people found their jobs or new opportunities through networking.?

The same applies to crypto traders who want to spot the next big trend before everyone else does.

Crypto trading is not a venture or investment that can be undertaken solely. To thrive as a crypto trader, you need a strong network.

A strong network can provide insights, support, trading opportunities, and partnerships that help traders stay ahead in a constantly changing market.?

There are many ways to build and nurture this network, and this article offers a guide to walking you through the basics of networking as a crypto trader.

3 Types of Networks Every Crypto Trader Should Have

1. Professional Networks:

These are connections you make with other traders, developers, analysts, and professionals in the crypto space.?

Strong professional connections can give you direct access to market insights, new trading strategies, or even heads-up on upcoming trends.?

For example, let’s say you’re connected with a blockchain developer who informs you of an upcoming project launch that could impact a coin you’ve invested in. These insights can help you stay right ahead of this project.?

Platforms like LinkedIn or Telegram groups are great places to connect with these types of professionals. Even if you’re not a social person, joining online forums and participating in relevant discussions can help you grow this network without feeling overwhelmed.

2. Social Networks:

Not everyone in your network has to be a crypto expert. Social networks include friends, family, and acquaintances who may not be directly involved in crypto but have valuable insights from related industries like tech or finance.?

These individuals can give you fresh perspectives or introduce you to tools and platforms you may not have considered.?

For example, a friend who works in cybersecurity could recommend a better way to protect your assets or accounts.?

For crypto traders who feel anxious about in-person networking, you can use Twitter or Discord to connect socially without face-to-face pressure.

3. Mentorship Networks:

Having a mentor in the crypto space is invaluable. A mentor could be an experienced trader, a crypto investor, or someone who’s been in the industry longer than you.?

They can share hard-earned lessons, help you avoid costly mistakes, and guide you through challenging market conditions.?

Finding a mentor doesn’t always have to be formal—you might connect with someone in a Telegram group or on a forum who’s willing to share their experience.?

Many new traders hesitate to ask for advice, but most experienced traders are open to mentoring others. If you’re anxious about approaching someone for mentorship, remember that it can also be a mutual learning experience.

Identifying Key People in the Crypto Space

Building the right network in the crypto space isn’t just about who you know; it’s about knowing the right people who can help you succeed.?

Here is a breakdown of the key people you should look out for when building your network:

1. Developers and Blockchain Engineers:

Developers are the technical experts behind the cryptocurrency platforms and blockchain technologies you trade with. They’re the ones who build, improve, and maintain the systems.?

Connecting with developers gives you insight into upcoming projects, new features, and even security vulnerabilities in certain platforms.?

For example, a developer might give you a heads-up about a promising new blockchain project still in its early stages, allowing you to get in early before prices surge.

2. Experienced Traders:

Learning from seasoned traders is one of the fastest ways to improve your own skills.?

These traders have been through the highs and lows of the market and can offer practical advice based on real experience.?

By following their social media accounts, joining forums, or even engaging with them directly, you can pick up valuable tips on market trends, risk management, and the best trading tools to use.?

They can also help guide anxious or introverted traders by sharing strategies for managing stress and emotions when making trades.

3. Crypto Influencers and Content Creators:

These individuals play a significant role in spreading information, news, and opinions about different crypto projects.?

They create content, run podcasts, write blog posts, and share insights on Twitter, YouTube, and other platforms.?

Some of these influencers usually hype up certain coins. So, ensure you follow credible ones who can keep you informed about emerging trends and provide educational content that simplifies complex topics.?

Be cautious, though—look for influencers with a reputation for being honest and transparent.

4. Analysts and Data Experts:

Crypto analysts help traders by interpreting data and making predictions about the market.?

They look at everything from price charts to on-chain data to give you an idea of where the market might be heading.?

Whether you follow them on social media or subscribe to their reports, these experts can help you make more informed decisions about which coins to trade or hold.

5. Project Founders and Core Team Members:

Lastly, connecting with the founders or core team members of crypto projects gives you direct access to insights on the project’s vision, roadmap, and long-term goals.?

These people often share updates on their platforms, and by interacting with them, you can better understand how committed they are to their project’s success.?

This can help you assess whether to invest in or trade that project’s tokens.