Crypto social media platform Minds has been garnering users who are concerned about their privacy, according to the company’s CEO. The open-source platform, seen as an alternative to Facebook or Twitter, awards users with cryptocurrency for engagement.
Crypto Social Network Minds Gaining Popularity
Privacy-oriented social media platform “Minds,” often touted as an antithesis to Facebook and Twitter, has been seeing considerable growth in the number of users, according to its founder and CEO, Bill Ottman. The American entrepreneur told IANS publication that his platform “has already attracted people all over the world who are concerned about privacy practices on social networks.”
Users were already migrating from mainstream platforms, such as Twitter and Facebook, due to privacy concerns even before the great Twitter hack that saw high-profile accounts tweet about bitcoin giveaways. Among compromised accounts were those of U.S. presidential candidate Joe Biden, former U.S. President Barack Obama, Google, Apple, Warren Buffett, and many well-known people in the crypto space.
Self-described as a free “crypto social network” that upholds internet freedom, Minds now has over 2.5 million registered users in 240 countries, with around 300,000 monthly active users and approximately 2 million active visitors, Ottman told IANS, adding that last month:
Over 250,000 new users joined the platform from Thailand due to privacy policy concerns on Twitter.
In addition, more than 150,000 Vietnamese users joined the platform last year over privacy concerns on Twitter and Facebook, the news outlet continued, noting that “The growth is typically a direct result of scandals with mainstream media platforms.”
Minimizing Privacy Concerns
Emphasizing that Minds’ core proposition is privacy, Ottman says he aims to provide a “spying free” alternative to mainstream social media platforms, like Facebook or Twitter,
