Recent media coverage about the dramatic rise in Bitcoin prices and pro crypto policy positions of president-elect Trump have created broader awareness of the viability of crypto. The number of searches for crypto is up and people are researching sites like Binance for a wide range of coins, including both mainstream and emerging cryptocurrencies.
Still, there are challenges in educating the consumer. Many people remember the FTX crypto exchange bankruptcy and the more recent $HAWK token rug pull that’s now being litigated. The industry, as a whole, still has some significant challenges in inspiring trust.
“Historically there has been low trust,” said Binance CMO Rachel Conlan in an interview with B&T. “But if you think about it, we’re seven years old as a business and the sector is less than 20 years old. For what we’ve achieved, our trust is actually very high, comparative to other industries.”
Conlan continued by comparing the crypto market maturation process other sectors, “I was talking to Anthony Scaramucci about this recently, he was talking about the journey that the financial sector went on in New York when it was first built and in the 1920s, Wall Street used to be called ‘gangsters’. It took them 100 years to build the structures they have. At the start of the internet, no one trusted it. No one thought this was going to be the future and in the space of 40 years, I certainly know that I can’t live without it.”
Just like the early stages of the stock market saw massive volatility in a short period of time, many altcoins and meme coins see the same type of price action today. A great example of this is PEPE which has seen a 1,200%+ increase in price over the last year going from $0.0000009261 in February to $0.00002639 December 8, 2024, according to Binance.
More needs to be done to educate prospective and current investors about the crypto space and some exchanges are stepping up efforts. The Binance Academy is one example, providing a host of learning opportunities for novices and sophisticated buyers and sellers.
Still Looking for Mainstream Adoption
Still, mainstream adoption is in the distance. In one survey, 98% of people surveyed said they didn’t really understand how crypto works. Even more worrisome is that less than a quarter of those investing in crypto said they fully understand what they’re doing. That’s a pretty amazing statistic when you consider that the global crypto market now exceeds $3.5 trillion.
Part of the confusion may stem from a patchwork of laws globally. Crypto in most jurisdictions is not regulated like stocks and not insured like money in traditional banks. While crypto has made millionaires, it has also devastated some portfolios. A Pew Research Center survey in October 2024 revealed that 63% of Americans are not confident in the reliability or safety of crypto. Even 39% of those investing in the crypto space say they’re not very confident.
Despite recent media hype, only 17% of U.S. adults say they’ve invested or traded crypto and that number is virtually unchanged since 2021. Globally, adoption rates vary greatly by country with locations like India, Nigeria, and Indonesia showing some of the largest growth rates over the past few years.
Marketing Strategies to Build Trust
Trust is often elusive—and fickle—in business. Reputations aren’t built overnight, meaning that broad education will be key to producing trust and encouraging crypto investment. Some specific strategies include:
Building Transparency
Leading crypto companies are investing heavily in educational content that demystifies blockchain technology and cryptocurrency trading. Beyond basic tutorials, they’re creating detailed resources about risk management, security practices, and market analysis.
This approach helps investors make informed decisions while positioning exchanges as trusted knowledge centers rather than mere trading platforms.
Strengthening Security Messaging
Successful crypto marketers are highlighting their security infrastructure and compliance measures. Many exchanges now regularly publish security audits, showcase their cold storage practices, and maintain proof-of-reserve systems. These initiatives demonstrate commitment to protecting investor assets while differentiating from less secure platforms.
Regulatory Compliance and Transparency
Education should include how the crypto industry is embracing regulation rather than resisting it. Implementing more stringent know-your-customer (KYC) procedures, anti-money laundering (AML) protocols, and other compliance measures can make a difference. This regulatory-first approach helps establish legitimacy with both consumers and institutional investors.
Leveraging Traditional Financial Partnerships
To bridge gaps in credibility, some crypto companies are forming strategic partnerships with established financial institutions. These collaborations, whether through payment processing, custody services, or investment products, help legitimize cryptocurrency in the eyes of skeptical consumers.
Major banks’ increasing involvement in crypto services further reinforces this trust-building approach.
Community Building and Social Proof
Successful platforms are fostering active communities where experienced users help newcomers navigate the crypto space. By highlighting genuine user success stories and facilitating peer-to-peer learning, companies build authentic trust through social proof rather than traditional marketing messages.
