Shilling

What Is Shilling?

Shilling is the aggressive or enthusiastic promotion of a cryptocurrency project or its Initial Coin Offering (ICO) on social media. This is frequently done by social media influencers and is usually done in return for payment. 

Shilling is seen as a negative action because the industry is restricted about the advertising it can do and not do. In addition, the shilling is insidious as it doesn't always seem to be advertising, and many followers get fooled. They can be swindled out of their money by following their influencers. 

In many cryptocurrency projects, influential public figures like sports celebs or businessmen publicly endorse a specific project and use their brand name to support a project. Such people usually encourage new and existing investors to invest in the project without disclosing why t they support the project. 

It is always advised to approach such projects and all such recommendations carefully as there’s a strong chance that the celebrity is getting paid to promote sales or investment into the cryptocurrency project, and there is little personal insight or interest in the project.