Misinformation​‍​‌‍​‍‌ in the crypto area causes to the direct losses of those who take part in crypto. 

The means by which you separate the rubbish from the genuine insight is the very indicator not only of your market perception but also of what in fact happens to your money. If any of us are to survive this wild west, then we certainly need a much better crypto media.

The Current State of Crypto Media: A Critical Assessment

One can argue that the quality of information provided by crypto media has never been worse than it is now.

Where clickbait ends and clarity begins

What is the reason for all of this? Largely money. Most of the publications that reporters cite in their articles get ads from the projects that they write about, which is a sort of an open secret that these projects will have a positive coverage. The entire business operates on the principle of clicks rather than facts, thereby making eye-catching headlines the results that trap readers by their lure.

I cannot see a standard rise for crypto media next year as the history always repeats itself in a similar way. Still, some small things are turning around. Readers become more knowledgeable. The professional influx from finance, tech, and research areas into crypto has opened the door for the demand of extensive content. The publications that deliver quality content thus have a secured future with the support of their followers and subscription revenue and they no longer have to be in a desperate search of advertising.

Besides, fact-checking is not left behind in terms of technological improvements as well. Various Analytics platforms like Nansen, Glassnode, and others make it easy and attractive to display the data thus enhancing the quality of the report and the journalist. Few excellent fact-checking programs are there that are heavily engaged with the community to verify the technical claims made.

Yet, I don't mislead myself - the motive for money in the background is still the same. More money a platform makes, the more traffic it needs. The biggest misunderstanding of the issue may be that the technology is in very close relations with the projects. It is still very complicated technology, and only a handful of journalists are willing to spend their time and energy in really understanding it.

As I see it, only a few quality Cryptocurrency Market publications will be left to serve serious players and most of the market will consist of clickbait articles that aim at maximizing views rather than being ​‍​‌‍​‍‌accurate.

Evaluating​‍​‌‍​‍‌​‍​‌‍​‍‌ Information Quality: Frameworks That Matter

Quality Markers and Red Flags

Most of the crypto-related information that you come across is of little value, but only a handful of them are worthwhile. Recognizing the difference between the two will prevent you from relying on the sources that are not trustworthy.

Here are some of the red flags you should watch out for:

When no detailed technical aspects are mentioned while discussing technology-related topics

When it is not shown how anonymous sources were verified if an article relies on them

In the case that only a few "hype" words ("massive," "game-changing") being used, but no evidence is given

Single-perspective stories that neglect the inconvenient facts or counterarguments

Articles that mix pure reporting with pitch presentations

Editorial Standards That Protect Readers

Stronger standards bring smarter crypto news

Normally, with the correct working, crypto coverage means certain measures through which the readers are 'protected from the loss'. If these measures were inspected, they would help you a lot in deciding which publications deserve your attention.

Sound media do a thorough source work as well - they check the credentials, the background, and whether the source has any stake. Besides absolutely verified facts, they also point out informed analysis, and mere speculation. All of this is very important in crypto where there is a great temptation to manipulate due to price volatility.

The main thing that determines the technical accuracy is real technical knowledge. Good publications have qualified editors who really understand the problem or they bring an expert to check the work. What it essentially does is that it shuts the door on cheap, overly simplified pieces of garbage that most places use to cover the crypto industry and thus you get very few that at the same time understand both blockchain and are able to write clearly like hardly ever is Bitcoin mined with a ​‍​‌‍​‍‌calculator.

Balance​‍​‌‍​‍‌ is not about letting each side have their say for the same amount of time – instead, it is more about giving the right amount of attention depending on the reality of the case.

A publication's take on its own mistakes tells a lot about its character. The good ones are very prompt in admitting their faults, in clarifying the situation, and in changing their working methods. The Block is quite good at this, as it not only publicly announces correction notices to let readers know about their mistakes but actually does fewer silent article updates without notifying readers, which is the norm in other places.

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Practical Evaluation Framework

While reviewing crypto materials, you should consider these questions:

• Who will benefit financially the most if I buy into this story?
• What are the technical aspects that have been discussed, or should I be worried that they are not mentioned?
• Do they acknowledge the uncertainties and point to the possible drawbacks?
• Is it possible for me to confirm these statements from other sources?
• Why is it that they decide to write this story right now?

Moreover, when selecting a new news source, you should consider the following questions:

• Do they voluntarily disclose their editorial guidelines?
• Do they go into detail when explaining the topic or do they only give a brief overview?
• Are they truthful about their weaknesses, or do they hide ​‍​‌‍​‍‌them?
• Can you tell what's news versus what's opinion?
• How do they handle their own conflicts of interest?

I started using these questions last year and, not gonna lie, it's slowed my reading way down - but it also kept me from dumping money into two supposed "sure things" that would've been disasters based on the initial hype.

Building Your Information Diet

Evolve your skills with smarter crypto info

Your requirements from crypto content are different at each level of your journey - newbie to savvy participant. Unfortunately, while good publications should facilitate this process, the majority don't care.

Beginner​‍​‌‍​‍‌ stage: The primary thing that you will require is the overview without the detailed. For example, if you are learning about consensus mechanisms, it would be more beneficial to understand the main purpose of consensus (to prevent double-spending) rather than delving into code fragments. You have to receive simple definitions, be given the background of technical terms, and be notified of the possible risks.

Intermediate progression: As knowledge gets accumulated, you want to draw insights from more areas and link them together. Understanding the trade-offs - such as the "blockchain trilemma" which shows a conflict between security, decentralization, and scalability would be your greatest benefit. By looking at different alternatives for the same issues, you improve your logical thinking.

In 2019, I personally hit this level, and was so fed up with the media that treated every innovation as a separate and not as a part of a bigger tech evolution that I made up my mind to act. Since no one else was seem to be doing it, I took the initiative and started my own notes linking the relevant developments across different projects.

Advanced consumption: This is the stage when you require loads of detailed information and that too with utmost precision. The original sources are always within your reach; project docs, GitHub repos, technical specs. Seeing how three different fields, i.e. economics, computer science, and game theory, are closely interrelated in crypto, is only the beginning.