Why Are So Many Celebrities Shilling for Crypto? What Is Their Purpose?


But there is one thing these commercials are silent about, namely high volatility and investment risks. In the last year, dozens of people in the media industry have promoted cryptocurrencies, both their own and those of other companies, as well as their partners.

Inviting celebrities to promote cryptocurrencies has become so popular that the Securities and Exchange Commission (SEC) has released a fake cryptocurrency along with recommendations from famous people who allegedly invest in it. When you click the “Buy” button on the cryptocurrency website, you may notice that a warning appears: “celebrity” reviews do not guarantee that the investment is legal or that such an opportunity is accessible to everyone without exception.

Cryptocurrency advertisements are all around us: an actor Matt Damon runs Crypto.com, a football player Tom Brady is a representative of FTX, and a TikTok star Charlie Damelio promotes Gemini. Last May, even Kim Kardashian promoted a relatively unknown coin, EthereumMax, to her 276 million Instagram followers. Movie stars, professional athletes, and other celebrities are nothing more than a bait for potential investors, helping to further increase interest in the little-known virtual market.
badge. And although financial regulators acknowledge that this strategy is dubious, it is noted that ICOs work well with some celebrities.

The number of influencers in the cryptocurrency industry has grown significantly more than ever. Celebrities ranging from tech entrepreneurs and CEOs to rap artists and reality TV stars have embraced crypto in their own way: we’ve seen Snoop Dogg, Kim Kardashian, Terry Crews, Madonna, Grimes, Jay-Z, Paris Hilton, Lindsay Lohan, Mike Tyson. , Sirena Williams, Lionel Messi and many other public figures who promoted crypto projects or created their own. It seems that everyone can try their luck in cryptocurrencies.

Investing in cryptocurrencies is beneficial for the media stars and crypto companies themselves. A Win2Win principle applies here. Celebrity investments increase the recognition and popularity of the tokens: people follow their idols, no matter what they do. This, in turn, allows investors to increase their wealth by playing on the growth of cryptocurrencies and stocks.

Some celebrities try to invest wisely, because not only their money is at stake, but also their reputation. However, celebrities often hire startups to become their “face” or ambassador, not just investors. Many do not see the difference between a chip announcement or a crypto exchange announcement, a “promising” new token or an NFT. Therefore, everyone who strives to earn money with cryptocurrencies should be cautious and choose stable tools for earning.

To do so, first of all, you must control your emotions and not let the fear of losing something influence your decisions. Choosing a stable method of earning, most cryptocurrency experts and enthusiasts tend to buy and hold cryptocurrencies, or choose a more profitable way of earning – mining. However, cryptocurrency mining becomes profitable with large amounts of processing power, because now the complexity is at its peak. Is there a way out? Definitely! And this is cloud mining.

Cloud mining is a type of passive cryptocurrency mining that uses someone else’s equipment. The user rents a processing power for a fee in a remote data center and in return receives a portion of the mined coins. The user can do this from any device and anywhere in the world. All you need is the internet and the right contract. A real breakthrough in the cloud mining industry is an environmentally friendly way of mining cryptocurrencies: companies use renewable energy sources, which can significantly reduce the amount of harmful emissions into the atmosphere and increase the overall revenue of the miners.

One of the market leaders is green hashes. The guys began to mine cryptocurrencies using only “green” energy: taking care of the environment, they significantly increase the loyalty of society to cryptocurrencies, attracting more and more investors to this market. This working model allows anyone to join mining, both beginners with relatively little capital and professional investors. It is the best way of passive income. The user only needs to register
account and buy one of the many mining contracts. Each contract differs in price and amount of leased capacity. The different durations allow you to remain flexible with the high volatility of cryptocurrencies.

In case of any suggestions or questions about the service, please inform the support team and write to [email protected] They are usually quick to respond and guide the user through all the needs. Join the official GreenHashes telegram channel and subscribe to the company’s social networks, where you will find a lot of useful information about ecological mining, to be aware of what is happening in the world of mining and cryptocurrencies.