Do you remember when Elon Musk tweeted about Dogecoin in February 2021 and pumped its price to 900%? This instance demonstrated unequivocally that in crypto, social and community feelings make a significant impact.
That is why social intelligence tools exist. These listen in real-time to millions of diverse “Musk”-type opinions, condense them, and present you with actionable insights. One of those tools is LunarCrush, which underwent a major revamp.
The major news is the introduction of $LUNR, LunarCrush’s first utility token to reward the community. That’s why in this article, you will discover how you can efficiently use LunarCrush and earn $LUNR tokens.
What Is LunarCrush Exactly?
LunarCrush is a social intelligence platform specially tailored for the crypto ecosystem. The website analyzes how people and the market react to altcoins on different social media platforms to make informed investment decisions.
On October 20th, Lunar Crush got a big makeover to reach this aim. With this change, it is clear that LunarCrush is striving to customize and gamify the service for its visitors. Let us guide you through the new UI, and be sure to pay attention to each section since we will tell you which actions allow you to earn $LUNR during the video.
How Does LunarCrush Work?
Now, we will teach you how you can get involved with this platform by describing how you can create and set up your account, create a portfolio and alerts, and how to find the best influencers for each of your favorite altcoins, among other things:
1. Set Up Your Account
It’s quite simple, and you may log in using common email or social network IDs. So, when LunarCrush users use the App, they are awarded points for the tasks they do. These points can subsequently be exchanged for $LUNR tokens.
When you set your account, you earn 25 points for signing up. Remember this is a one-time reward activity. Later on, we will walk you through how you can convert these rewards into $LUNR.
2. Create a Portfolio and Add Your Coins You Want to Follow
For example, if you want to know how DASH or other payment coins compare, like ZCash, DOGE, or LTC are doing, you can create your Portfolio to follow them.
Here we are making a portfolio of payment-based coins starting with DASH. Starting from the “Dashboard,” we click on “Portfolio” and then “Edit.” In Edit Portfolio, you’ll see a new popup on the right side of your screen where you may add the coin of your choice. One helpful aspect of Lunar is entering the number of coins and the buying price to check how lucrative your positions are. You can see a video guide about this here.
Also, you can search for which coins are trending. After saving Holdings, we can go back to the Dashboard. You can see the Portfolio at a glance on the left side and see how your coins are doing.
On the other hand, LunarCrush includes gains & losses and portfolio allocation %. You can see if you need to diversify your portfolio a little more by adding or taking off some of your trading positions on these coins.
3. Create Your First Alert For Your Favorite Coins
Creating Alerts to follow the activity of your favorite token project is super easy on Lunar Crush. To do that, you need to activate the “Set Alert” feature where you can get notified in LunarCrush, or by email, text, or SMS when a few things happen like:
- A big price move higher OR lower
- Social Volume > by 50%
- Certain AltRank or Galaxy Score changes OR
- and this is cool. You can set your alert
Personalizing your Dashboard so you can see what matters most to you is a big part of Lunar Crush’s unique formula. It is how they employ their algorithms to keep the information you see relevant to you. You can see a video guide about this step here.
When you set up alerts, you earn 25 points. Remember this is a one-time reward activity for the first alert.
4. Find the Top Influencers for Your Favorite Coins
Have you ever wondered which social influencers might have the pull to help your coin increase in value? With Lunar Crush, it’s easy to track who the most consistent influencers are over time, not just Celebrity X tweeting about Coin Y once. Here’s where to find that information on LunarCrush:
This video shows you where the influencers are on the Lunar Crush platform, and more importantly, WHO they are. We are sticking with our example using DASH. The information is amazing in this section. You can see who the Top 16 most influential DASH social media tweeters are.
Also, you can see great information about them, including:
- How many posts, likes, and followers they have
- How frequently do they mention DASH in comparison to Bitcoin
- Screenshots of top tweets and most recent tweets
- And you can search for the last day, week, month, three months, or up to 1 year
5. Connect your Twitter Account
Without a doubt, Twitter is the most effective social media platform in the crypto-economy. This social network is famous for its outlandish discussions and debates, memes such as Have Fun Staying Poor, and breaking news about new ventures.
When you connect your Twitter account to Lunar Crush, you may further customize your feed.
When you connect your Twitter account, you earn 25 points. Remember this is a one-time reward activity. If you hold a good amount of $LUNR, you are eligible to receive bonus rewards at Level 2 and Level 3.
Also, there are some other ways to earn these points:
- Daily active users
- Link Share
- Link Click
- Friend Sign up
6. Work the Gamify Aspects in Your Favor
Everything in Lunar is worth points. This is both to make it more fun and help you keep track of how close you are to unlocking more services. However, the gamification factor is not merely for entertainment purposes. It assists Lunar Crush in personalizing the home page with the information that you choose.
This video shows how creating a portfolio with our five payment-based coins affects our feed. After clicking from “Trending News” to “My Feed,” we now see DOGE and DOGE-related stories since that’s one of the portfolio coins.
How to Convert Your Points to $LUNR tokens?
For different activities, you earn rewards in the form of points. The more consistent you are with earning rewards, the higher your bonus reward multiplier becomes. All topics are calculated after each 24-hour cycle, and then $LUNR is awarded pro-rata based on a share of prizes in each 24-hour cycle, which you must then claim.
Nowadays, there’s no clear idea about the conversion of points to $LUNR. Every day the total number of users split 65,000 total $LUNR. So if there are 400 users or 40000 users, that $ LUNR is divided based on the total points earned for that day.
Essentially, claiming $LUNR allows you to progress through the stages of LunarCrush. You are free never to claim your $LUNR, but you will remain a primary user with no access to higher-level advantages. These higher levels get you to access to additional historical data as well as bonus points.
Also, whenever you claim $LUNR, you have to pay a small amount of arguing fee. We would have been happier had this been a zero-fee claim. Once you have claimed $LUNR to trade, you need to move it to the Zilliqa wallet because $LUNR is a ZRC-2 token and uses the Zilliqa blockchain.
Be rewarded for staying participating & helping to grow the LunarCrush community. Become the fuel for growth in the leading crypto social analytics tool.
— Zilliqa (@zilliqa) October 20, 2021
Here are a couple of other things we like about LunarCrush:
- The Portfolio, as well as any different non-coin prices, is priced in Bitcoin. There’s no mention of, or interest in, dollars, pounds, euros, or other fiat currencies here. That appeals to us.
- While employing the gamification elements will help you tailor the feed, you are not required to do so. You can still access the website. Those concerned about your privacy can provide as much or as little information as you like. There are no further criteria than a mechanism to validate your account.
- While Twitter is the most popular, it is not the only source. Reddit, news feeds, shared links, and YouTube is placed where people look for the Lunar Crush algorithm.
There are tons of data points out there but not very good curation into what’s interesting for you or us. LunarCrush is looking to solve this problem and give you actionable trading advice while they do it.
Join us on Telegram to receive free trading signals.
For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.