In a world where crypto is becoming more and more prevalent, it was only a matter of time before different trading methods and making money surfaced. BitClout is one of the newest projects off the production line and is rising in popularity worldwide. Those looking to make a name for themselves by building a solid online crypto portfolio are flocking to this platform.
Here, we're going to have a little discussion about BitClout. We'll talk first about what it is, how you can use it, and a few surrounding aspects.
BitClout is simply a social media platform that allows users to buy 'creator coins'. They're also more simply known as tokens linked to people of note. Celebrities, influencers, and other high-profile individuals all make up the most valuable tokens. As people buy these tokens, the value continues to rise. When people sell these, the price of the token will drop off.
The idea is that we should be able to monetize our online presence and become more of a person of interest online. Let's say you admire a particular YouTuber or singer – you can buy their token low and sell when they become a little more famous than they already are. You could then sell and make a good profit from their clout.
BitClout itself is gaining a lot of traction and clout itself as high-profile individuals are getting involved themselves. You can send Bitcoin into it at this moment in time, but you cannot currently withdraw funds.
We've quickly touched on the fact that the names and faces will be the driving force behind price changes. Celebrities and 'normal' users alike can post updates and messages on their timelines – akin to that of Facebook or Twitter. Each user will get to use their own coin upon signing up, so it's not just about the big names. The likes of Elon Musk and Mr. Beast are right at the top of the list as they are, of course, very well-known individuals.
You'll sign up by heading to the BitClout website and clicking on Sign Up. You'll follow the steps provided and hopefully get everything handled in a matter of moments. You'll then see the option to then 'buy BitClout', 'complete your profile', or 'browse'. Select 'complete your profile'.
You'll choose your username and select your Founder Reward Percentage. Your Founder Reward determines the amount you get paid whenever someone else buys some of your coins. You can change your Founder Reward at any time. Once that's done, you'll click on 'Save Your Profile'.
When you sign up, you receive your own coin. Each member is, in fact, their own coin. It's wise to buy your own coin for a few reasons:
Buying your coin early on will be a good idea as nobody has done so either – your coin will be cheap. You may then grow in terms of your influence – this will make your value rise, which will help out a lot in terms of profiting from your clout. Finally, you're not really going to attract buyers if nobody has bought from you before – you may as well get the ball rolling.