The dictionary definition of ‘discord’ is a disagreement between two people. Ironically, the very same word happens to be the name of an immensely popular instant messaging and social media platform with hundreds of millions of users and billions of daily conversation minutes.
Discord describes itself as ‘your place to talk and hang out.’ Initially built to serve gamers in 2015, this social media platform is now home to a variety of diverse communities in topic-based groups.
Social media and cryptocurrencies have an inseparable relationship. It is a place for interacting with hardcore crypto enthusiasts and keeping up with the latest news and trends in the markets.
Moreover, certain social media posts, particularly those made by influential people (the Elon Musks of this world), have been catalysts for significant price movements on the charts. In some cases, community members can come together to intentionally ‘pump’ and ‘dump’ a particular coin.
Although Discord is not as well-known as Reddit, YouTube, or Twitter, this article will cover the five best trading groups on this website. Before we do, let’s explore a little how Discord works.
How does Discord work?
Discord consists of user-created groups or ‘servers’ that others join using a shareable invite link. Most servers have independent chat rooms or channels dedicated to a specific topic to prevent dilution (while some will be pretty general).
Like Reddit, each channel has strict rules enforced by moderators to ensure members conduct themselves ethically, providing an overall pleasant experience. However, unlike its predecessor, Discord combines text and voice chatting, unlike its predecessor, making it quite distinct.
Moreover, Discord focuses on instant messaging, where you can see new messages coming in real-time. Once you begin participating and getting to know others, you can add them as private friends in individual groups.
As one of the fastest-growing social media platforms on the planet, finding the right channels related to crypto is daunting owing to the overwhelming number of chatter. This is why we’ll look into the top 5 trading groups to narrow your search.
r/CryptoCurrency
r/CryptoCurrency is the Discord spinoff to the original subreddit of the same name (hence the ‘r/’), the latter of which was launched in March 2013 and had 4.8 million members on Reddit.
As the name suggests, this Discord server is an all-encompassing group for all things crypto-related, such as news, discussions, and analysis. If you could only pick one group, this would be it as it’s the most general and less niche. This community is close to 93 000-strong and was started in April 2018.
It is one of the largest and most popular trading groups on Discord, where you can find numerous channels covering general trading, NFTs (non-fungible tokens), DeFi (decentralized finance), altcoins, mining, and yield farming, and more.
Cryptohub
Cryptohub is a Discord-originated server focused on beginners or ‘noobs’ in the cryptoverse, with about 12400 members. The group is dedicated to many spheres of helping members navigate spaces related to trading, investing, ‘gem hunting,’ staking, trustworthy exchanges, and much more.
Furthermore, Cryptohub is well known for providing free professional trade signals. The server is divided into the following sections:
- Public Signals
- Traders Corner (main chat, trading, fear, member signals and greed index, crypto news, exchange news)
- NFT Space (chat, NFT 101, upcoming ‘mints,’ chains, etc.)
- HODL Section (airdrop alerts, token launches, ecosystems, APY farming, personal gems, etc.)
- Members’ Corner (polls, questions, off-topic, suggestions, etc.)
- Useful Stuff (VPN security, cold wallets, taxes)
- Crypto Guides (how-to, trading 101, trading tips, staking, crypto wallets, where to stake, etc.)
r/Wallstreetbets
If you know anything about the GameStop short squeeze of January 2021, you will have heard of WallStreetBets (WSB), one of the most controversial investing-related social media communities.
Case in point, the Discord version of the group, was temporarily banned in the same month of the saga for violating hate speech policies. WSB is well-known for its profanity and aggressive, highly speculative trading ideas, with the interesting tagline of ‘Like 4chan found a Bloomberg terminal.’
Nonetheless, this is perhaps the largest crypto trading group on Discord, with close to 600 000 members. This shows us that it’s a place where most Discord crypto members are.
Aside from the random channels unrelated to digital currencies (like those for Tinder experiences, meme stocks, and rating charts), you get two main channels on WSB: discussions on trading/speculation and creating NFT art.
Larva Labs
Launched in 2017, Larva Labs is an NFT-focused Discord using the namesake of the company behind CryptoPunks, the first-recognized NFT project. CryptoPunks is a collection of 10 000 pixel-based avatars, which are some of the most valuable digital collections.
The Larva Labs server was previously named CryptoPunks and presently has 63140 members. Unlike the previous groups, Larva Labs is a lot more stripped-down in channels, making it less daunting to navigate.
It has one main chat room that’s a discussion hub for all things related to non-fungible tokens. Overall, Larva Labs has been regarded by many Discord enthusiasts as the go-to place for anyone desiring to be up-to-date with the trendiest developments in the NFT world.
Elite Crypto Signals
As the name suggests, this server is dedicated to offering free and premium crypto trading signals. The moderators claim to provide alerts based on expert knowledge, giving technical and fundamental analysis-based recommendations with entry and exit points.
The paid signals are $45 a month (with a free trial), and potential members need a Binance account to participate. Here, one receives around two signals daily or 60 signals monthly. This server currently has close to 29 000 users and three main channels related to general chatter, trading discussion, and memes.
Curtain thoughts
While Discord is a platform for exchanging ideas and acquiring great information, it has unsurprisingly become a beehive for scammers attempting to steal your funds by luring unsuspecting users to provide their personal data.
Therefore, you should always be wary when engaging on any server to safeguard your hard-earned money. Nonetheless, information is a commodity in the fast-paced world of cryptocurrencies to provide you with a much-needed edge.
Whether you’re a beginner who barely knows what an NFT or a blockchain is or an experienced investor with above-average knowledge, you’ll indeed find some usefulness (and perhaps a bit of entertainment) from any of the trading groups discussed here.
