Beware: TikTok’s crypto ‘gurus’ mostly unqualified
Less than 1% of crypto influencers on platform have relevant credentials, making their advice highly questionable
Have you ever turned to TikTok for crypto advice? Well, you're definitely not alone.
TikTok has established itself at the forefront of social media platforms, becoming a hub for sharing and obtaining all sorts of content, ranging from entertainment to financial advice. With a user base of around 955.3 million, it's no surprise that it has also attracted crypto enthusiasts—both content creators and consumers.
The platform has become an avenue for crypto gurus and influencers to share advice to the wider community. From cryptocurrency picks to trading strategies, their advice is tailored to reach a wide audience.
But despite TikTok's role in spreading crypto education, a pressing question still remains: is TikTok crypto advice really credible?
While the exact advice may vary between videos, a new survey suggests that viewers should be wary of most TikTok crypto content—finding that as many as 68% of these clips are actually misleading.
Conducted by CryptoNinjas in partnership with Storible, the survey highlights that many influencers prioritize personal gain over the financial well-being of their audience. “68% of crypto advice found on TikTok is misleading,” CryptoNinjas stated, shedding light on the risks of relying on these sources.
Researchers analyzed more than 1,000 TikTok videos using popular hashtags like #crypto and #cryptok. Each video was assessed based on four key factors: asset promotions, disclaimers, promises of investment returns, and advice on how much to invest. Additionally, 482 influencer profiles were scrutinized for self-promotion, qualifications, and disclaimers.
The findings are concerning. While nearly 70% of videos were misleading, 61% lacked disclaimers to warn viewers about potential risks. Over half (58%) promoted specific crypto assets without discussing associated dangers, and 35% made unrealistic claims about returns without acknowledging market volatility.
Alarmingly, 50% of videos even suggested exact investment amounts, ignoring the unique risk tolerance of individual investors.
As for memecoins, the survey also noted that 82% of these tokens promoted on TikTok are already dead.
CryptoNinjas took a step further to examine the qualities and credentials of these crypto gurus and influencers. Shockingly, only 0.3% of these supposed gurus were found to have relevant qualifications—showing that the great majority lack expertise. Up to 90% of these influencer accounts also did not include disclaimers on their profiles.
These findings highlight an important call to action: take TikTok crypto advice with a grain of salt. Better yet, opt for reputable and credible educational sources and platforms instead.
Where to get crypto advice and education
The internet does not fall short of credible crypto resources.
Various reputable crypto exchanges, wallets, and other service providers offer educational resources on their websites that every internet user can freely access. Others go a step further by offering dedicated educational platforms, such as Coinbase Learn and Binance Academy, to facilitate and guide the learning process.
X—which has also earned the name “Crypto Twitter"—has also become a hub where the crypto community engages with one another and shares insights. Prominent crypto figures such as Richard Teng, the CEO of Binance, and reputable media outlets like Bitcoin Magazine are active on X, making it an ideal platform for staying updated on the latest news and trends.
However, similarly to TikTok, crypto advice and recommendations on X—especially from questionable accounts—should still be handled with caution.
Data aggregators like CoinGecko and CoinMarketCap also provide real-time insights on the crypto market. These sites list crucial information, such as market capitalization and 24-hour trading volume of specific assets or categories like memecoins or stablecoins.
When it comes to crypto education and advice, it is important to ensure the legitimacy and credibility of the sources. Though TikTok can be an easy and accessible avenue, it is not the best source for learning.
After all, your financial future deserves more than just 60 seconds of hype. It requires thorough knowledge, commitment, and diligence to distinguish fact from fiction.
