Bitget's survey shows that some users prefer influencer videos

VICTORIA, Seychelles, Nov. 1, 2024 (GLOBE NEWSWIRE) — Bitgetthe leading cryptocurrency exchange and Web3 company, has launched a campaign to celebrate the 16th Bitcoin White Paper Day with a dazzling theme: “Who reads white papers anymore?“. The aim of this initiative is to stimulate discussions within the crypto community about the current role of white papers in blockchain projects and investment decisions. The event coincides with the publication of Satoshi Nakamoto's seminal document and offers an opportunity to rethink the perception of white papers and examine whether they still have the same influence on the direction of investment strategies and project valuations as they once did.

Survey data collected by Bitget provides insights into the crypto community’s current views on white papers. Of the 5,923 participants surveyed, an overwhelming 92.28% said they always read a project's white paper before trading its tokens, suggesting that technical documentation remains crucial for most users. Additionally, 99.43% of respondents still believe white papers are necessary, emphasizing their continued relevance to a project's credibility and exposition of its core principles.

However, the survey also found that key opinion leaders (KOLs) play a dominant role in influencing trading decisions. Among participants who do not always read white papers, 86.51% rely on KOL recommendations, while only a small percentage turn to research institutions or personal networks. This highlights a growing trend where influencer-based insights are beginning to compete with white paper-based reviews, reflecting broader changes in the way information is consumed and trusted in the crypto space.

Over the years, white papers have been considered crucial documents for understanding the technical and strategic intent of blockchain projects. However, given the rapid developments in the crypto space, there is increasing debate about whether these documents are still an important tool for investors or whether alternative valuation methods take precedence.
Bitget's research, supported by surveys and consultations with industry insiders, brings to light a range of opinions. Some participants continue to view white papers as essential to understanding the fundamentals and long-term goals of a project. Others argue that the emergence of new evaluation metrics such as market trends, project performance and development teams has reduced the reliance on white papers, with real-world applications and use cases taking center stage.

The insights gained from these discussions indicate a shift in the crypto community’s approach to project evaluation. By creating a platform for this discourse, Bitget encourages users and professionals alike to rethink the tools and resources used to evaluate blockchain projects today. Under the theme “Bitcoin Whitepaper Day,” this campaign showcases the ongoing changes in the industry and invites the community to look forward and consider new approaches to evaluating the industry’s most promising innovations.

To learn more about Bitcoin Whitepaper Day, check out our tweet Here.

About Bitget

Founded in 2018, Bitget is a global leader Cryptocurrency exchange and Web3 companies. Bitget exchange serves over 45 million users in over 150 countries and regions and is committed to helping users trade smarter while providing real-time access to it with its groundbreaking copy trading feature and other trading solutions Bitcoin price, Ethereum priceand other cryptocurrency prices. Formerly known as BitKeep, Bitget wallet is a premium multi-chain crypto wallet that offers a range of comprehensive Web3 solutions and features, including wallet functionality, token exchange, NFT marketplace, DApp browser and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the official crypto partner of the world's top soccer league, LALIGAin the EAST, SEE and LATAM markets as well as a global partner of Turkish national athletes Buse Tosun Çavuşoğlu (world champion in wrestling), Samet Gümüş (gold medalist in boxing) and Ilkin Aydın (National Volleyball Team) to inspire the global community to embrace the future of cryptocurrency.

Risk warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be affected and you may not be able to achieve your financial goals or recover your capital investment. You should always seek independent financial advice and take into account your own financial experience and situation. Past performance is not a reliable measure of future performance. Bitget will not be liable for any losses you may incur. Nothing herein should be construed as financial advice.

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