Hey everyone, It seems like everybody on the Internet is talking about BitClout this month. All the influencers are promoting it. I saw Mr. Beast (Youtuber) And Chamath Palihapitiya (Venture Capitalist) tweeting about it. All the industry insider were talking about it too. Every creator was settings there accounts up there.
I’ll be honest with you, I had no idea about what it was until about 3 days ago and chances are you don’t know what it is either but Don’t worry I did my research and I am going to break it all down for you.
So, Let’s get started….
Table of Contents
First Of All, What Is BitClout?
It’s a half social media platform and half crypto currency exchange platform. In other word, BitClout = Twitter + Robinhood
It’s basically a social network where you can bet on creators with real money and There are lot of other features as well. Such as…
- It is based on Blockchain.
- It’s an open source platform. It means there is no person or a company behind it.
- All Private messages are end to end encrypted.
How Does BitClout Works?
Just think every famous person on this planet Elon Musk, Kim Kardashian, Katy Perry and MKBHD. Everyone is on there and all they have a “Creator Coin” and the Value of the coin is determined by market demand like any other currency.
IMO, Value of the coins are really crazy right now. So, if you look at the chart of Top 10 creators on BitClout this week then Elon musk coin is $91,000 and Mr. Beast coin is $39,000 and Logan Paul coin is $28,000.
How To Make Money With BitClout?
There are 3 popular ways to make money with BitClout.
- You can set a certain percentage of your “Creator Coin” that stays with you. For every coin you create, You can set 10% will go to you and that’s the default. You can set it at 0 to 100% but if you set it a 100% (Not Recommended) then there’s going to be no coins to trade so that’s probably not a good thing to make money with BitClout.
- The much better way to make money is simply to bet on yourself after you set up your profile. Your coins are going to be worth the least amount ($0 Basically )because no one bought or traded with them yet so you buy a bunch of your own coins and hopefully you increase the popularity of your profile which I know most of you can do pretty easily if you are a good content Creator/influencer. After that, sell your coins and make a lot of money.
- Trade other famous people coins just like stock market. A week ago, Elon Musk’s coin price was $65,000 and a month ago it was $45,000 only so If you’ve invested in Elon Musk Coin 1 month ago then you would have doubled your money already. because it is $91,000+ right now.
Now, Go check out BitClout and set up your profile so all of you can create your own coin and make a bunch of money.
Conclusion
In the end, BitClout is the latest buzz right now and I can see more people will adopt it soon. It allows you bet on people reputation and It is World’s first Crypto Social Network that can allow anyone to trade “Social Clout” as an asset. So if you think any coin is going to become more popular in future then you can trade that coin and make money if you buy it early than other people.
BitClout’s lead creator told the media that several major investors including Andreessen Horowitz (A Private American Venture Capital Firm) and Coinbase Ventures are involved in this project, a big sign of legitimacy for the platform as it is trying to disrupt both the blockchain space and social networking websites.
Follow Me On BitClout Today – Harsh Nagar
FAQs
What Is BitClout? (In Simple Terms)
BitClout is an open source social networking platform that is built on blockchain technology. It allows you to invest in the People with their creators coins. In Short, It is twitter but you can buy and sell shares of people who you think are going to be popular in the future.
How To Get Started With BitCloud?
Until April 1, 2021, BitClout was closed to public. They were having issues with massive traffic and servers and you needed a password to get in to the website. Now, They’ve removed the password and anyone can sign up with BitClout. Just go to BitClout.com and Setup your account with your Phone number and E-Mail. Make sure to save the initial passphrase because if you ever lose it then you’ll lose everything on that account. It’s not recoverable at all.
Can You Trade With BitClout?
Yes, It’s a trading platform, where you trade in people. It uses its own cryptocurrency called BitClout as the main foundational currency. You have to convert your Bitcoin to BitClout to start trading.
Why I Should trade in BitClout instead of stock market?
Let’s say you like Tesla and know it is going to up in future but you don’t live in United States and lives in a 3rd world country like Nepal then you have to setup your trading account and then apply for Tesla share with your broker and many more complicated things. On the other hand, It will take fewer than 5 minutes to set your own account and buy Elon Must Coin on BitClout.
Why People Are Comparing BitClout To Twitter?
Once you setup your profile you’ll feel like that you are using Twitter but futuristic. You can follow people, like their posts and retweet also. But the best thing which makes it different than Twitter is Trading. Anyone can sign up here and trade with anyone in the world.
If you still have questions then post it in the comments section below.
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– Last Updated – April 4, 2021
I thing Bitclout is going to be really famous and famous like coinbase. Coinbase now have $50 Billion+ valuation and if you get early in this crypto social network then you are surely going to make a lot of money.
I Agree, Let’s wait and watch…!!!