Crypto Social Media Network, “Minds” Sees Upsurge In Users Exciting Facebook And Twitter Because Of Privacy

Ruchi GuptaJuly 20, 2020

87 2 minutes read

Crypto social media platform “Minds” has witnessed substantial user growth as people who are concerned about privacy migrate to the platform. The privacy-focused platform has been considered as an antithesis to Twitter and Facebook and it rewards with cryptocurrency for their engagement.

Minds experiencing substantial user growth

Minds CEO and found Bill Ottoman indicated that the site has grown in popularity in recent times attracting users concerned about the privacy practices of social media giants from across the globe. there has been an exodus of users from mainstream social media platforms such as Facebook and Twitter because of privacy. Recently there was a Twitter hack in which accounts of high profile figures tweeted about bitcoin giveaways.

Currently, the crypto social media platform has more than 2.5 million registered users across 240 countries with approximately 300,000 active users each month. Ottoman indicated that because of the privacy policy issues on Twitter the platform gained 250,000 new users last month from Thailand. This is in addition to the over 150,000 users from Vietnam that joined the platform in 2019 because of privacy concerns on Facebook and Twitter, Ottoman added that the growth is due to the growing scandals that mainstream social media platforms are facing.

Users shifting to platforms that promise data privacy

The core proposition of Minds is privacy and the platform is aiming at offering spy free options to mainstream social media sites. According to Ottoman, the mainstream social media platforms sign users into surveillance and there are not transparent on how they are using user data. Because of the growing scandal, ottoman noted that social media users are looking for alternatives and diversify. There has been a trend towards open source as it has been witnessed in other areas like Bitcoin, Linux, and Wikipedia.

In 2018 Minds faced its scandals also as most hate groups were using the platform to spread hateful messages. However, the company took steps to remove the content and has been working on drawing a line between hate and free speech.

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