Can Kraken’s new social media project lure Crypto Twitter users?

A new social media platform designed specifically for crypto users launched this week, promising to “cultivate a crypto community built on trust and transparency.”

The forum, called Cryptowatch Social is, unsurprisingly, the work of crypto charting and trading site Cryptowatch, which has been a subsidiary of Kraken since March 2017.

The platform boasts features including intuitive watchlists, live idea feeds, and chart sharing, and will also allow traders to share their portfolios so fellow users can easily verify if they hold the assets they claim to own.

When announcing the platform, Cryptowatch founder Artur Sapek said: “Our goal is to make Cryptowatch Social the discussion center of the crypto world,” (our emphasis).

“We are building the ultimate all-in-one crypto mobile app where traders can watch markets, manage their portfolio, and learn from each other.”

Many of the platform’s features will be on show when it live streams Crypto Fight Week, an upcoming evening of boxing, the main event of which will see a match between crypto personalities Ponzi Trader and Trading Lord. Cryptowatch account holders will be able to watch the event for free through the app or website and will be able to take part in a number of giveaways and social activities.

So, what’s the Cryptowatch Social like so far?

Well once, you’ve managed to fight your way past the garish banner ads promoting the aforementioned rumble and managed to download the app itself, it’s obvious that it’s still early days.

As such, there’s not much at the moment to distinguish Cryptowatch Social from the thousands of crypto-centric groups and channels littering Twitter and Reddit.

All of the usual old favorites are there. There are the bullish one-liners, half-assed crypto philosophy (“Getting #rekt together feels better than getting rekt all alone”), and of course, the place is already awash with Pepes. Oh, and there’s a picture of Elton John in big purple shades.

Still, despite an apparent lack of must-see crypto content so far, early users look to be pretty happy with the platform and the idea behind it.

“I like it… I’m kind of curious to see how this will develop over time,” said one, while another enthused, “Love it so far… Hopeful this can be THE place for the crypto community.”

It just remains to be seen whether it can prise enough eyeballs away from crypto Twitter. Maybe the Blue Bird’s crypto millionaires will decide that $8 is too much to keep their blue checkmark.